Accounting & Finance

Accounting & Finance

Accounting & Bookkeeping

Our Bookkeeping Services are focused at reducing the finance and accounting costs of our clients by helping them with their management, accounting and tax preparation needs. Resource Factors personalized and professional online bookkeeping services cover the entire scope of bookkeeping and customers have the flexibility to choose what they require. We function just as customers’ virtual back office for all their bookkeeping and accounting work right from set-up, support, maintenance and consultancy with accounting. By outsourcing bookkeeping services to Resource Factors, you can benefit from the cost advantages of our customized finance and accounting services.
Resource Factors has proficiency across all the major accounting software used in the industry for bookkeeping services, such as QuickBooks, Quicken, Peachtree, Sage Accounting, MYOB, Business Vision, Simply Accounting and CaseWare. Resource Factors has a dedicated team of well-trained accountants and professionals who can quickly adapt to customers’ specified software and processes, and at the same time ensure quick turnaround time and quality standards.

Services

  • Accounts receivable management
  • Accounts payable management
  • Bank accounts reconciliation
  • Invoice processing services
  • Journal Entry postings
  • VAT returns
  • Creation of customized chart of accounts
  • Assets / equipment ledger maintenance
  • Expense analysis
  • Preparing accounts receivable ageing analysis
  • Preparing accounts payable analysis
  • Credit card reconciliation
  • Preparing sales mix analysis.
  • Preparing purchase and cost analysis.
  • Inventory management services.
  • Accounting setup services.
  • Day-to-day bookkeeping and accounting.
  • Preparation of Periodic Management Reports
  • Annual accounts and tax returns preparation
  • Expert tax advice to minimize tax liability
  • Internal Audit assignments
  • Adjustments to year-end accounts
  • Due Diligence assignments
  • Liaison with External Auditors
 
  • Accounting & Bookkeeping
  • Management Reporting
  • CFO Services
  • Business Valuation
  • Cash Flow Management
  • Invoice Processing
  • Payroll Management
  • VAT Consultancy & Tax Planning
  • IT Consultancy
  • IT Infrastructure
  • 24/7 IT Support
  • Software Development
  • Network Design
  • Web Designing
  • Customized Integration

Management Reporting

Our management reporting and controller services provide access to professional and qualified CPA level expertise when your business demands it. Let our professional and experienced team of financial experts perform your company’s Controller level. Our scalable business model allows you to leverage Financial Controller services whenever required. Many businesses may not hire a Financial Controller due to the cost factor. With this function missing, many businesses lack the expertise to prepare management reports, forecasts and analyse operating budgets.

Our Controller level services can be customized to fit your needs and can include the following:

  • Supervision and review of accounting staff’s work
  • Ensuring all revenue earned and expenses incurred during the period has been recorded properly
  • Fixed asset management
  • Reconciliation of all balance sheet accounts
  • Preparation of adjusting and closing entries
  • Preparation of financial statements

CFO Services

If hiring a full-time CFO sounds expensive, consider our part-time CFO services which will enable you to avoid spending money on high salaries yet still manage your financials. With us, you will have 24/7 access to CPAs & Chartered Accountants at an affordable fees. We understand that every organization requires a different service portfolio, so we handle each client based on their requirements. A typical team of CFO services consists of a Certified Public Accountant, an Accounting or Bookkeeping Specialist, and a Customer Support Contact.

Our CFO services include:

  • Budgets and Forecasting
  • Cash Flow Management
  • Key Performance Indicators
  • Financial Analysis and Modelling
  • Financing
  • Special Projects
  • Working with Professionals (Bankers, lawyers etc.)

Business Valuation

Business Valuations are used to estimate the value of a business for purposes such as `and legal matters. With vast experience, our team of professionals can handle your Business Valuation needs in an efficient and cost effective way.

VAT Consultancy & Tax Planning

Business Valuations are used to estimate the value of a business for purposes such as `and legal matters. With vast experience, our team of professionals can handle your Business Valuation needs in an efficient and cost effective way.

Cash Flow Management

Cash is the lifeblood of business and Cash Flow Management involves Food Costing / Beverage Costing, Recipe/Menu Costing, Variance Analysis, Profit Margin / Landed Cost, Pricing the products / Services, Service Level / Loss of Sale, forecast, collect, control, disburse and invest your cash. A properly maintained Cash Flow Management process can not only save your business during economic downturns but put you in a position to win when presented with that ONCE IN A LIFE TIME opportunity.
Resource Factors professionals have been assisting clients with their Cash Flow Management Systems and processes and we are available to serve your needs.

  • Accounts receivable aging reviews
  • Budget vs. actual performance monitoring and reporting
  • Forecasts and projections
  • Monthly, quarterly and annual budget preparation
  • Review inventory level optimization strategies
  • Review of use of purchase discounts
  • Review order, invoicing and collection systems and processes
  • Review purchase order, receiving and payment systems and processes
  • Treasury strategies to maximize the return of idle funds

Invoice Processing Services

The invoice processing activities involve lot of crucial checks, which is time consuming affair. Improper handling of invoices can drain company’s resources. The verification process gets delayed and this also becomes the cause of anointment for vendors as they do not receive payments in right time. These suppliers may decide to break business with the organization in future.

So, to mitigate risk, you should outsource this task to invoice processing service providers and raise the profitability of your business. Select Resource Factors as your trusted invoice processing partner and award your business with competitive edge.

Payroll Management

RESOURCE FACTORS offers customized payroll services, which have the potential to save your business considerable costs as compared to an in-house payroll professional. If your payroll accounting is consuming a significant amount of time and energy, let RESOURCE FACTORS take care of it so that you can spend your time on core business activities. Being a professional payroll service provider at your disposal, you can run your business knowing that a trusted advisor is handling the payroll processing. All your payroll information will be maintained accurately and securely, and you can have the payroll at your request.

Our payroll services include:

  • WPS Processing
  • Accurate paydays
  • Direct deposit
  • Professional payroll processing- pay checks
  • Secure employee access to payment records
  • Vacation and sick pay tracking
  • All major pay types: salary, hourly wages, multiple pay rates, bonuses, cash tips, pay check tips, expense reimbursements, allowances, holidays, etc.
  • Voluntary deductions, including medical, dental and retirement plans, flexible spending accounts, dependent and medical care, cash advances, loan repayments and more
  • End of service entitlements calculations