We were called upon to provide complete services to manage legal entity post sell-off of
- Entity and PE firm based out of Mumbai.
- The entity did not have any employees.
- The historical accounting data was in ERP which was currently out of license period.
- Ongoing Legacy Tax Scrutiny, Legal cases.
- We roped in a record management vendor to mange the physical file for last seven years.
- We took ownership of Banking process enrolling transaction team member as initiator.
- Manager resource as first authorized signatory and company director as second authorized signatory
- Entire documentation, vouchers invoices were digitized and process set in to scan new documents.
- Accounting , Secretarial Compliances, Tax Compliance were managed through our shared service centre with sufficient checks to ensure accurate processing.
- Liaison with Professional Service providers for tax representations, Audit support
A agile startup comprising of technical personnel only required all the support functions to be outsourced.
Accounting team took care of day to day accounting using cloud file sharing and accounting applications. Client was only required to upload scan copies of vendor invoices, sales invoices, payroll inputs, tax challans. File processed were numbered named as per defined format for future references. Payroll was managed through a reputed online payroll management application Indian Secretarial compliances were managed by our team of company secretaries. Banking transactions were initiated through our team and authorized by company personnel. Monthly tax workings were shared and compliance MIS was updated. Revenue accruals process was also outsourced in later stages documentation (MSA, SOWs, Tracker) were maintained at shared service center Accrual working w.r.t Billed, Unbilled amounts, Unearned amounts and movement between them were maintained The company got acquired by a large Indian listed company post three years. The transition was managed smoothly The Listed company retained us for the same entity to manage the process as before.