TRANSACTION PROCESSING & OVERSIGHT

• Bookkeeping and maintenance of accounts in standard accounting packages
• Maintenance and management of account receivable & payable Accounting of fixed assets and maintenance of registers
• Payroll processing and compliance Reconciliation of accounts – banks, vendors, customers and employees
• Finalization of year-end accounts and assistance in audit process
• Preparation of management & statutory reporting pack
• Support in filing of statutory returns – WHT, VAT, GST, etc.

Bookkeeping & Accounting

Finance and accounting functions in many organizations spend most of their time on routine, time-consuming tasks such as recording transactions, processing expenses, generating invoices, collecting receivables, fixed asset tracking and general ledger entries. This focus on the routine makes it difficult for companies to maintain a focus on the larger goal of improving the organization’s financial performance. Our professional team works closely with clients to record transactions, analyse the entire work flow, leading to process improvements and further cost savings.

Accounts Receivable & Payable Management  

Accounts Receivable Management (ARM) is a financial process that helps companies to manage, track, process and collect all accounts receivables. The objective is to convert receivables into cash as quickly and effectively as possible. Treeline back-office accounting team has skilled resources and templates that could be customised to map the current process by which the customer credit risk assessment exercise is being performed, suggest improvements thereon and once an agreement is reached with the client, takeover and manage the customer risk assessment and credit extension process within the debtors management software in use. The scope of ARM process encompasses the following –

• Customer account creation & risk assessment
• Customer credit extension
• Review and control on operational data and revenue analysis
• Invoicing / E-Invoicing preparation
• Keeping track on revenue generation
• Accounting of collections
• Handling customer reconciliation

Fixed Asset Accounting 

Fixed assets are long term tangible assets that are used by businesses in generating income. The accounting for fixed assets in modern integrated accounting system commences from the raising of the capex purchase order and flows automatically into the fixed asset register. The respective asset category is mapped into the group in balance sheet. In non-integrated system, the accounting of fixed assets involves direct booking of accounting entries into the respective asset accounts. Treeline offers its own asset management solution- Fixed Asset Management Systems (FAMS) and offers a wide span of services ranging across

• Fixed asset accounting
• Asset verification and reconciliation
• Asset tagging and management
• FAR management
• Asset tracking and reporting solutions

Finalisation of Accounts 

Finalization of the accounts encompasses the entire process of ascertaining the financial position of business as on a given date, commencing from review of pending expenses and income, preparation and posting of accruals, booking of invoices and journals that have been approved by the designated authority, culminating in the preparation of statement of profitability for a given period and finally reporting of the financial position in the balance sheet statement of the business. Treeline with its group of experienced professionals having expertise across multiple industries, geographies and ERP’s like SAP / Oracle / MS Dynamics / SAGE, etc., is in a unique position to provide support to businesses to achieve their reporting targets. The following statements are generally prepared along with detailed commentaries on variance statement

• Trail Balance
• Income statement
• Balance sheet & Schedules
• Cash flow statement
• Statement of retained earnings.

Audit Support

Audit support essentially entails the BPO accounting team work in tandem with the client representative in furnishing financial records and supporting documentation to auditors. Treeline equipped with inhouse developed transaction tracking and data tool called business process management (BPM – propriety software) and a team of experienced professionals adept in effectively communicating and developing reports to address all possible concerns of the auditors. While the BPM tracks each of the transaction individually as it moves across various validation and approval stages, it also has immense documentation management capabilities (DMS) which can handle both storage and easy retrieval of supporting documents. The broad spectrum of support in this function would encompass the following tasks –

• Furnish financial records & supporting documentation
• Assisting in development of process cycle memorandums
• Assisting in development of procedural walk-throughs
• Responding to auditor’s inquiries
• Documentation of auditors work papers
• Participation in audit status meetings.

Reconciliation and Control

Reconciliation Banks, Customers, Vendors, Portfolio, Investments and Asset: Reconciliation is the process of comparing transactions and activity to supporting documentation. Further, reconciliation involves resolving any discrepancies that may have been discovered. The process of reconciliation ensures the accuracy and validity of financial information. Also, a proper reconciliation process ensures that unauthorized changes have not occurred to transactions during processing. The key concepts in maintaining sanctity to this are as follows:

• Accuracy of activity
• Error correction
• Matching to the source
• Documenting the process and completion.

Given the amount of time required to complete the reconciliation process, we encourage attempting to minimize its impact on the period-end closing process by running a daily reconciliation. By doing so, any residual reconciling items at month-end are so minor that they can be completed in a few minutes. Thus, last minute rush and possible human errors are proactively avoided.

Complexities in handling various reconciliation activities are varied and require expertise and diligent effort coordinating with banks, customers, vendors, portfolio managers and other investments. This necessitates adherence to process and withstand repetitive validation mechanism

Why should reconciliation be performed?

• Detect fraud
• Ensure records are complete
• Ensure records are accurate
• Avoid misunderstanding and litigations

We believe reconciliation statement should be as simple as possible. It should include basic details such as which ledger is being reconciled, what is the period of reconciliation, when is the reconciliation prepared, who has prepared, checked, approved, etc. To break monotony and maintain independence, we see an emerging trend in outsourcing reconciliation activities. We love to stretch ourselves to accommodate your crucial deadlines and ensure adherence to agreed delivery standards.