Accounting & Bookkeeping Services
Accurate Books, Timely Reports, Strategic Insights for Your Business
Maintaining accurate books of accounts is the foundation of sound financial management. At Neo Consulting, we provide comprehensive accounting and bookkeeping services that ensure your financial records are always audit-ready, compliant, and insightful. Our services free you from the burden of day-to-day accounting, allowing you to focus on growing your business.
Why Outsource Accounting to Neo Consulting?
- Cost-Effective: 50-70% savings vs in-house accountant
- Expert Team: Qualified professionals supervising your books
- Technology-Driven: Cloud accounting with real-time access
- Scalable: Services grow with your business needs
- Compliance-Ready: Always prepared for audits and filings
Comprehensive Accounting Services
1. Daily Bookkeeping Services
Transaction Recording
- Daily voucher entry in Tally/QuickBooks/Zoho Books
- Sales and purchase invoice recording
- Payment and receipt entry
- Journal entries for adjustments
- Multi-location and multi-currency transactions
Bank Reconciliation
- Daily/weekly/monthly bank reconciliation statements
- Identifying unrecorded transactions
- Outstanding cheque tracking
- Bank charges and interest reconciliation
- Multi-bank account management
Petty Cash Management
- Petty cash book maintenance
- Expense voucher verification
- Reimbursement processing
- Policy compliance checking
2. Accounts Payable Management
- Vendor Invoice Processing: Receipt, verification, and entry of supplier invoices
- Payment Scheduling: Cash flow-based payment calendar
- Aging Analysis: Payable aging reports (30/60/90 days)
- Vendor Reconciliation: Monthly statement matching
- TDS Computation: Tax deduction calculation on payments
- Form 26Q Preparation: Quarterly TDS return data compilation
3. Accounts Receivable Management
- Customer Invoicing: GST-compliant invoice generation
- Payment Receipt: Recording and allocation to invoices
- Debtor Aging: Customer-wise outstanding analysis
- Collection Follow-up: Reminder generation support
- Bad Debt Provisioning: Identifying doubtful debts
- Credit Control: Credit limit monitoring and alerts
4. Payroll Processing Services
- Salary Structure Design: Tax-efficient component structuring
- Monthly Salary Computation: Attendance integration, overtime, incentives
- Statutory Deductions: PF, ESI, professional tax, TDS
- Form 16 Generation: Annual TDS certificate for employees
- Full & Final Settlement: Exit formalities and dues calculation
- Salary Register: Comprehensive payroll records
- Bonus & Incentive: Variable pay calculation
5. Financial Reporting Services
Monthly MIS Reports
- Profit & Loss Statement: Revenue, expenses, net profit summary
- Balance Sheet: Assets, liabilities, equity position
- Cash Flow Statement: Operating, investing, financing activities
- Fund Flow Statement: Sources and application of funds
- Ratio Analysis: Liquidity, profitability, efficiency ratios
- Budget vs Actual Variance: Performance tracking against targets
- KPI Dashboards: Visual insights on key metrics
Annual Financial Statements
- Schedule III Compliance: Financial statements as per Companies Act format
- Notes to Accounts: Detailed disclosures and explanations
- Accounting Policies: Documentation of accounting treatments
- Related Party Transactions: Disclosure of RPT details
- Segment Reporting: Business and geographical segment analysis
- Contingent Liabilities: Disclosure of potential obligations
- Post-Balance Sheet Events: Material events after year-end
6. Inventory Management Accounting
- Perpetual Inventory System: Continuous stock ledger maintenance
- Stock Ledger (Item-wise): Receipts, issues, balances for each SKU
- Valuation Methods: FIFO, LIFO, or weighted average costing
- Physical Stock Reconciliation: Matching physical count with book balance
- Obsolete Stock Tracking: Identifying slow-moving and dead stock
- Reorder Level Monitoring: Automated alerts for stock replenishment
7. Fixed Assets Management
- Asset Register Maintenance: Detailed record of all capital assets
- Depreciation Calculation: As per Income Tax Act and Companies Act (dual methods)
- Asset Tagging: Unique identification and physical verification support
- Disposal Accounting: Gain/loss on sale of assets
- Impairment Assessment: Testing for permanent value reduction
- Capital vs Revenue Classification: Proper expense categorization
- Insurance Register: Asset insurance policy tracking
8. Software Expertise
We work seamlessly with all major accounting platforms:
- Tally Prime / ERP 9: India's most popular accounting software
- QuickBooks (Online & Desktop): Cloud and desktop versions
- Zoho Books: Online accounting for small businesses
- SAP Business One: ERP for mid-size companies
- Oracle NetSuite: Cloud ERP solution
- Xero: Cloud accounting platform
- BUSY Accounting Software: GST-compliant billing and accounting
- Custom ERP Systems: Integration with proprietary systems
Benefits of Outsourcing Accounting
- Cost Savings: 50-70% lower than hiring full-time accountant (salary + benefits + infrastructure)
- Scalability: Easily scale up or down based on business needs
- Professional Expertise: Access to qualified professionals and supervisory review
- Technology Access: Latest accounting software without investment
- Focus on Core Business: Free up management time for strategic activities
- Reduced Compliance Risk: Expert handling reduces errors and penalties
- Business Continuity: No disruption due to employee leaves or attrition
Frequently Asked Questions
What's the difference between bookkeeping and accounting?
Bookkeeping is the daily recording of financial transactions (data entry). Accounting involves analyzing, interpreting, and reporting this data through financial statements, ratios, and insights. Bookkeeping is tactical; accounting is strategic. We provide both services.
How do you ensure data security when outsourcing accounting?
We use: cloud accounting software with bank-level encryption, role-based access controls, regular data backups, signed NDAs, and secure file transfer protocols. Your data is stored on secure servers with multi-factor authentication. We never share client data without explicit permission.
Can you work with my existing accounting software?
Yes, we work with all major accounting platforms including Tally, QuickBooks, Zoho Books, SAP, Oracle, and custom ERP systems. We can also help you migrate to better software if needed. Our team is trained across multiple platforms.
How quickly can you take over my accounting?
Typically 7-15 days for complete transition. Process: (1) Understanding your business and chart of accounts (2-3 days), (2) Opening balance migration (3-5 days), (3) Team training on your processes (2-3 days), (4) Parallel run for verification (5-7 days). We ensure smooth handover with no disruption.
Do you provide accounting for multiple companies/entities?
Yes, we handle accounting for business groups with multiple entities. We maintain separate books for each legal entity while providing consolidated management reports. Useful for groups with holding-subsidiary structures or multiple business divisions. Inter-company transactions are properly recorded and eliminated in consolidation.