Transaction Processing and Business Support

It is difficult to make sound business decisions in today's global economy without having timely, reliable and meaningful financial data. We, at Somaiya & Co. can boost business success by making accounting systems work harder for management on a daily basis.

Quite a large number of businesses may not have access to the service of book keeping, whether it is due to shortage of resources or any other reason. Accounting records and book keeping are vital issues for all types of businesses to enable its owners, directors or management to be aware of all transactions conducted by the business and to be able to measure the degree of success of the business as a whole or of a particular aspect of it. In addition, maintaining adequate accounting records is essential for tax purposes.

Employers need their organization to run smoothly while they meet business goals worldwide. Services are tailored to meet clients' requirements all around the world. The right management decisions can then be made - whether the business perspective is global or local in nature.

We provide the following accounting services:

  • Accounting Services including management accounting
  • Review of Accounting Systems
  • Accounts/Systems Manuals
  • Back office operations including Payroll/HR Processing.
  • Standard Operating Processes
  • Setting up Chart of Accounts etc.
  • Preparation of Financial Statements
  • Defining and Preparation of MIS and Budgets reports in a timely manner
  • Accounts Reconciliations and Analysis
  • Fixed Assets Accounting and Verification, Maintenance of fixed assets records
  • Inventory Verifications Reconciliation and Maintenance of inventory records

Along with Transaction Processing, as per the needs of the client, firm also undertakes development of the systems, built in internal controls, overall monitoring, creation and reporting of MIS, legal compliances and finalization of accounts as per the applicable accounting standards of the ICAI