Company formation, Back office and Accounts outsourcing "paperless office"
Global Company Formation UK Limited is a start up advisor who offer formation advice to start up business anywhere in the world. Here we provide a cost effective solution for your new and existing business in a variety of different domains that too by exploring the international talents. We also provide accounts outsource services in here.
Back Office Services :-
If you are setting up your company anywhere in the world, we can provide a back office for any accounting services where you will find the perfect candidate. You can set up your office with us; you can recruit, train, mentor and monitor them like your next door office. Your staff will work from your office in exact your business time and all the domain staff will be available at a highly competitive market cost of £2.50 per hour. Being a facility provider we can provide you with a fully furnished office space just for £ 97 per month including desk and sitting, computer, internet with 100 Mbps, air-condition etc.
At present we have the following six international companies having back office with us.
1) Mint and Mustard UK Ltd, a leading restaurant chain in the UK
2) Tick Box Ltd, a Project Management company based in Bristol, UK
3) Seacom Accountancy, an accounting practice LLP in the UK
4) Walth Group, an online trading company based in Germany
5) Global Company Formation UK Ltd, a business consultancy and outsource service provider, UK
Accounts Outsource Services :-
If you are an overseas business but want to outsource your accounting and finance activities we are here to help you out with accounts outsourcing. We are ready to take any accounting or finance assignments for just £2.50 per hour:
We offer the following services in accounts as your outsource service provider.
• Book keeping
• Payroll services
• VAT Return
• Management Accounts
• Financial Accounts
• Tax Return
• Audit File preparation
• Invoicing and Credit Control
• Other Accounting Support Services
Our detailed outsource process flow is enclosed herewith for a more clear view.
Input Process Summary
1. Daily Sales – The daily sales report of all the business are available to the concerned person in our UK Head office and the same will be forwarded to our outsource office. It is further classified into two :
(a) System Generated Invoice: The system generated Invoice copy is being sent in mail to the concerned person in outsource office.
(b) Daily Sales Closing Summary: The daily closing sales summary is being sent in mail by taking the photographs of the sales closing summary and the same will be forwarded to the concerned person in outsource office.
2. Daily Purchase - The daily purchases being made in all the business will be forwarded in report format to the concerned person in our UK Head Office and the same will be forwarded to our outsource office. It is further classified into two :
(a) Email Invoices: The Invoice copy received from the supplier in our UK Head Office is being sent
(b) Paper Invoices: The invoice copy received in our UK Head Office is being sent in mail
to the concerned person in our outsource office by taking the photographs of all the invoices
3. Daily Bank Statement
(a) View Only Statement: With the help of Bank Account Internet Login details, the accounts person in our outsource office is able to view the bank statement in View Only mode.
(b) Physical Statement: As some companies may not be willing to provide the bank login details & in this case, the bank statement is being photographed and will be mailed to the concerned person in our outsource office.
Output Process Summary
1. Daily Cash Flow Report: The person in outsource office will reconcile the bank account on daily
basis and will inform the expected inflow and out flow of cash balances in advance to the Head
Office in UK before 9 AM.
2. Monthly Payroll Processing: Monthly payroll processing and issue payslip to all the staff s on due
date and file all the statutory forms to HMRC. Full RTI compliance and FPS, EPS filing on time.
3. Monthly Management Accounts: Prepare monthly management accounts with all the month
end adjustments like accrual, pre-payment and depreciation.
4. Quarterly VAT Return: Preparation of VAT Calculation and file VAT Return to HMRC on due
5. Yearly Draft Final Accounts: The Yearly Draft Final Accounts has to prepared which is useful for
filing TAX Returns to HMRC and filing Company Accounts to Companies House.
6. Tax Return Filing and Company Accounts Filing: Either our accountants in UK or your
Accountants will be filing tax Return and Company Accounts after necessary year-end
adjustments and tax planning.
Advantages of Outsource Accounting
• Paperless and keep all your documents in digital format.
• This is a next door Accounting Office.
• Your Bank Account Statement is reconciled before you wake up.
• Cost of running the Accounting Process is £2.50 per hour.
• We guarantee to reduce 60% of your UK Accounting Cost and Admin Cost.
• A Smart way to manage your business in UK by keeping a back office with your admin and accounting staff.
• An opportunity to explore International talent and Cost Saving to your business.
• The Per month cost of running your Back Office is just £97.
• UK Qualified Accountants will file your Tax return and Company Accounts.
• Very easy to set up your back office on a rolling monthly contract basis.
Why to outsource accounting?
Outsourcing has emerged as an effective solution for business ventures presently. Finance and accounting was one of the first jobs that companies started outsourcing, and the practice continues to flourish. Surveys reveal that the number of F&A outsourcing projects valued at $1 million or more increased in 2014 compared to the previous year.
Accounting outsourcing refers to a practice of outsourcing a part or all of the accounting processes involved in keeping the business functional. The practice of outsourcing is generally associated with small and medium sized businesses. Yet large businesses may also outsource their accounting requirements to an outside accounting service. The main reason for relying on outsourcing is to focus on making the best utilization of the available resources to the growth of a business.
As time advances, companies looking for better outcome are exploring innovative ideas and seeking new paths to carry out finance & accounting processes. As a result there has been huge expansion in the degree of outsourcing to new areas of finance and accounting, industries, and companies than ever before.
Successful companies have been utilizing the scope of outsourcing in the most effective way. Standardization of finance & accounting processes is the main characteristic of good-going companies and by adopting good F&A processes those businesses achieve remarkable achievements like more things getting done in the most economical way which ultimately result in more profit. By improving their F&A processes, business houses have found themselves reduce the process it takes to close books and meet regulatory requirements more easily than ever before.
Most of the companies opt for outsourcers with more expertise and techno- resources than they possess in-house. Finance & Accounting outsourcing helps a business to grow in the most successful way by providing proper guidance. Expert analysts can help a business flourish by strengthening the managerial practices, budgets and standardizing procedures company-wide.
Such practices allow companies to implement cost savings through supplier consolidation and duplicate payment analysis. Automation of the processes can improve policy compliance and minimize order errors by ensuring employees order what and when they want without making costly mistakes.
Where are we?
Pearl Outsource Private Limited’s global outsourcing services touch every industry and business process. We transform our clients’ business operations, making them smarter, faster and cheaper, while working with visionary organizations to define innovations in strategic outsourcing.
We share a common goal to create a world-class finance organization. In today’s economy, that means more than an efficient and effective finance organization. To achieve high performance in a challenging global marketplace, companies are looking to their finance function for insights that will drive business improvement. Pearl’s Finance and Accounting Business Process Outsourcing (BPO) Services has the next-generation approach to help.
Ongoing pressures to optimize business performance have prompted many finance executives to look for new approaches, including outsourcing of the finance & accounting organization. Pearl’s Global Services is perfectly suited to help your company transform into a high-performance organization that streamlines processes, maintains compliance and cuts costs, all while letting you focus on your core competencies and grow your business.
Here at Pearl, we have been providing a full suite of accounting services from the transactional to compliance and control, all through our Cochin office. Throughout our centers, we offer proven solutions tailored to meet each client’s specific needs and have a broad range of experience in a variety of industries.
Our service is multifaceted. If you are setting up operations in India, we can provide a back office for accounting, payroll, financial reporting, tax and other regulatory compliances. We have the capability of assisting a company of any size – we have helped reduce cost and improve efficiency by becoming the finance and accounting (F&A) team for small to large Indian companies as well as overseas companies.
If you are a small subsidiary of a foreign company in India, we can become your Chief Financial Officer and your in-house accounting team while you focus on your business. As your business grows and complications increase, you can retain us to support you. While you may hire your own financial controller, we would continue to handle all processes. In this way, we can support your business right from the start through the growth phase, for as long as you require.
We could also help you set up your own F&A team by helping you hire the right people and designing the necessary systems for you.
If you are an overseas business but want to manage your accounting and tax activities from India, we can assist you through the right skilled accounting professionals working from our office at your end.
We provide a wide range of Accountancy and Bookkeeping outsourcing services that not only include the maintenance of books and records and the preparation of accounts but also payroll, financial reporting, tax and other regulatory compliances. We have good knowledge of accounting software of USA, UK and Australia like SAGE, MYOB, Creative Solutions Accounting, IRIS, Ultra Tax, Yardi and Quick Books. We also attend to cash flows and management information. All our services can be provided on a monthly, quarterly or annual basis as per the client's requirements. We offer the most competitive rates in the Market with the most qualified and skilled accounting professionals who can complete any accounting work for you from our office with utmost speed and efficiency that too just for £2.50 per hour.
Advantages of Our Accounting Services
• We offer complete outsourcing solutions in the areas of accounting such as accounting payroll, accounts payable, accounts receivable, other regulatory/statutory compliances etc.
• We have a reputation of providing our clients the benefit of having the best resources being utilized to manage their backyard functions.
• We follow the best practices in processes and tools to make sure that we rise to the level of expectations of our clients from outsourcing.
• We sustain constant communication with our clients ensuring them an opportunity to continually evaluate the competence of their outsourcing processes.
Our single point of contact will help simplify managing your company’s support functions by coordinating with the relevant teams at Pearls. We aim to facilitate the smooth running of your business with improved efficiency by performing these routine functions for you in a competitively cost-effective manner.