Accounting Services
We offer tailored and trustworthy accounting services. We understand the confidentiality of your prestigious data that is why we keep it highly secure and don’t disclose it to anyone. We take full responsibility of all of your accounting & book-keeping.
Asset Management
Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets and to intangible assets.
Our role as Glofinser is to provide a tool to control and effectively manage the assets, maintain a list or register for the same with life cycle of its repairs and maintenance and replacement cost along with all other details of immovable and moveable assets.
Payables & Receivables
Payables management is the handling of client company’s unpaid debts for purchases made on credit. Account payables management involves tasks such as seeking trade credit lines, acquiring favourable terms of purchase, and advising the timing and flow of purchases to the clients, so that an efficient process is developed and implemented at the clients end. We as Glofinser efficiate this process.
Payables are often categorised as trade payables (payables for the purchase of physical goods that are recorded in inventory) and expense payables (payables for the purchase of goods or services that are expensed). We as Glofinser provide effective methodology and support to our clients in efficient management of the Payables and Credit Control with reconciliation on a periodic basis to effect market efficiency.
The full cycle of the accounts payable process includes receiving the purchase order (PO) from the purchase department, receiving the invoice from the vendor, matching/validating the PO and the invoice, approval final payment to the vendor.
Accounts Payable management has the responsibility that the payment must be done on time to avoid overdue charges, penalty or late fees. It has to make sure that all the invoices can be easily tracked and paid before the due date. The same helps in avoiding the non-payment or payment for the same bill multiple times. We as Glofinser efficiate this process.
When you manage your accounts payable effectively, your business can ensure that you pay your suppliers on time. Thus, you can keep building good communication and relationship with your supplier, In turn, this will bring your business better pricing, improved delivery times, and other benefits. We as Glofinser efficiate this process.
Receivable management is a process of managing the account receivables within a business organization. Account receivables simply mean credit extended by the company to its customers and are treated as liquid assets. It involves taking decisions regarding the investment to be made in trade debtors by organization. We as Glofinser efficiate this process.
Receivables, also regarded as accounts receivable, are debts owed to a firm by its customers for goods or services used or delivered but not yet paid for.
We as Glofinser help our client to determine an Effective credit policy, Minimize bad debt losses and Avoid invoice disputes,
This in turn helps our clients to Boosts sales volumes, Improves company profits, Minimizes investment in available receivables.
Clients are encouraged to embrace technology and use it in the maintenance of records. This ensures the faster resolution of disputes. Going through physical copies of documents can be tiring and time-consuming. Customers who continually make late payments on their bills can have their credit lines reduced or revoked. We in Glofinser define clear cut processes for the clients after analysing their needs which helps in improving Cash Flows, Optimising Working Capital and Improving Customer Relations and Satisfaction.
Banks
Glofinser supports its clients in deciphering Banks by its strength and efficiating the analysis of Organisational strength of the Banks, making Clients understand Banking regulations, Interest Rate Risk Management, Credit Risk Managements in Banks, Liquidity and Operational Risk Management in Banks, Analysis of Bank Statements including periodic reconciliation, Investment Banking and other services.
Creditors & Debtors Management
An important part of managing debtors and creditors is to maintain professional business relationships with clients and suppliers. Whether you owe money or are owed money, being proactive and keeping the lines of communication open are the best routes to positive cash flow for all.
Glofinser analyses clients Creditors and Debtors to establish a meaningful process to control the same in an efficient and result oriented manner. Proper management of the accounts receivable and accounts payable function of any business is essential to maintaining a healthy cash flow position; ensuring that business operations can continue smoothly; and achieving business growth. This is exactly where Glofinser will add value to its Clients.
GST & VAT Accounting & Monthly,Qtrl., Annual Returns
Tax can be understood as the monetary obligation charged by the Government on income, activity or commodity. It is collected in order to serve the basic purpose of providing revenue to the government, so as to fulfil social and economic objectives. The tax is levied both on physical and non-physical items. Here, we are talking about indirect taxes which are imposed on goods and services. The tax charged on goods is known as Value Added Tax (VAT), whereas only Service Tax is charged on services.
This contributes the highest proportion of earnings to the government is VAT and Service Tax. While the former is imposed by State government, the imposition of the latter is under Central Government.
We at Glofinser help the Client to file the monthly, quarterly and annual returns. Reconcile and get the same audited by authorities.
Payroll Administration and Processing
Payroll administration is defined as any of the tasks necessary to organize the compensation of employees for the hours that have been worked. This may include keeping totals for hours worked by employees, rates of pay and managing payments to employees.
Payroll processing refers to managing all aspects of paying employees. It includes steps to ensure you properly calculate, track and distribute employee payments. Payroll processing also involves determining the correct amounts of money to withhold for company benefits, taxes and other dedications.
We in Glofinser help our client with full payroll management and monthly calculation of payroll reconciliations as per IFRS standards. We can process payroll and provide the client with figures on a monthly basis and then get the same merged with monthly accounts.
