A business of any type and any size needs Bookkeeping Services. Regardless of your industry, turnover or costs, whether yours is a start-up business or a fully-fledged organisation, good bookkeeping systems are crucial to ensure you can keep track of your progress and grow your organisation. Outsourced Bookkeeping and Accounting Services is the most cost-effective way to ensure that you can maintain your focus on running the business, while benefiting from the skills and expertise of Skytrax Accounting and Payroll & HR Services experienced consultants. With Skytrax you will be in control of your Bookkeeping and Accounting without having to manage them and therefore in a stronger position to grow your business.
The Skytrax Accounting and Payroll Services team has over 20 years of experience in Bookkeeping and Accounting Services, as well as business management experience as both business leaders and consultants. With on-going support from Skytrax experts, you can establish or build on a solid financial foundation, to help grow a profitable business. If you are looking for Bookkeeping and Accounting Services Online, make sure you Outsource your finances to experienced professionals who you can trust. All Skytrax Bookkeepers and Accountants are experienced, trustworthy and provide high quality work. We offer much more than the numbers – we will analyse and review them too, supporting you and your growing business.
Key Reasons to Outsource your Bookkeeping and Accounting
- Save your valuable time.
- Remove worries about resource and quality.
- Achieve up to date quality information.
- Improve your profits by measuring results.
- Improve security.
- Reduce hassle and worry.
- Build business resilience.
- Improve cash flow with accurate debtor information.
- Avoid employee issues.
- Benefit from a consistent and quality bookkeeping procedure.
- Confidentiality and security of data is assured.
- Save time and use a professional bookkeeping service.
- Putting your bookkeeping and accounting in the hands of professionals means you can be secure in the knowledge that your accounts are being handled with care.
What Outsourcing Services do we offer?
- Bank reconciliation processing.
- Debtors/Accounts Receivable management and processing.
- Creditors/Accounts Payable management and processing.
- Fixed Asset Register maintenance and processing.
- Stock/Inventory management and processing:
Stock Control can be a tricky area of Bookkeeping for any business. Ensuring the costs and values are managed correctly can be a huge job. We offer complete assistance.
- VAT Return Services.
- Management Accounts:
- Preparation of Monthly Management accounts which compromise the following:
- Income Statement (Profit and Loss statement).
- Balance Sheet.
- Cash Flow Statement.
- Ratio analysis and benchmarking.
- Debtor/Accounts Receivable Ageing report.
- Creditor/Accounts Payable Ageing report.
- Stock/Inventory Valuation report.
- Stock/Inventory Ageing report.
- Sales Performance report (Classification can be customised).
- Enterprise Risk Management (Contains a summary of Operational and Financial risk present).
- Preparation of Monthly Management accounts which compromise the following:
- Budgeting and Forecasting:
- Preparation of Annual Budgets is done for Income, Expenditure and Balance Sheet Accounts.
- A monthly Rolling Forecast mechanism is implemented to measure Actual results against Annual Budgeted figures.
- Preparation of a Monthly/Quarterly Rolling Forecast is also done for Income, Expenditure and Balance Sheet Accounts.
- Preparation of Direct Cash Flows to manage all daily/weekly/ monthly financial planning and forecasting activities.
- Review of Direct Cash Flows with management done on a weekly/monthly basis.
- Adhoc Budgets/Forecast prepared as per request from management.
- Additional Services:
- Complete Year End procedures required for the external audit to ensure compliance with International Financial Reporting Standards (IFRS). (We will liaise directly with the external auditors on your behalf to ensure cost savings).
- Bookkeeping and Accounting services provided for Law Firms and Real Estate Agencies to ensure compliance with the specific Board requirements.
- We have the expertise and knowledge to deal with Forex Accounting issues.
- Internal audit services provided:
- Evaluating the operational and financial risk of the company.
- Recommendation of process improvement procedures to minimise risk.
- Implement policies and procedures manuals to improve the internal control environment within the organisation.
- Assist in enhancing operational efficiency and cost reduction to improve an organisation’s competitiveness by applying our best practices to business processes and controls.
Outsource your Bookkeeping and Accounting and how it works?
- We collect all your information online via Drop box or via Email.
- We will prepare your Accounts.
- We will enter your Income, Expenses and Payroll information.
- We will then reconcile your bank/credit card statement and complete the bookkeeping.
- Finally, we will prepare your Monthly Management reports, which compromises Profit & Loss statement, Balance Sheet and other financial reports specific to your needs.
- You receive the Final Accounts.
- We will send your accounting reports as soon as they are completed.
We will then arrange a meeting to discuss the Accounts with Core Focus on:
- Actual results vs Budgeted results.
- Core cash flow health of the business.
- Risk which could have a Financial impact on the company.
What documents do we need to do your accounting?
- Bank statements.
- Credit card statements.
- Supplier Invoices.
- Customer Invoices.
- Sales orders.
- Purchase orders.
- Delivery notes.
- Lease documents.
- Payroll information.
- Any other relevant documents.
Outsourcing your Accounts Payable/ (Creditors) and Accounts Receivable/(Debtors)
The administration of accounts payable and receivable is an operational burden for any business. It is a burden because of the difficulty in employing processing staff and managing a host of suppliers, vendors, rates and information.
Our services are totally customizable to suit your requirements. We can handle some or all of the accounts payable and accounts receivable processes for you:
Accounts Payable/Creditors Outsourcing process:
- Receipt of Invoices – Receive your supplier invoices from all your suppliers by email or via dropbox with tracking.
- Data capture – Data processing to extract information from invoices.
- Quality assurance – Data checking to match every line of captured information to ensure 100% accuracy.
- Data matching – Invoices matched against Purchase Orders and other data.
- Resolve issues – Create list of exceptions for internal resolution based on the pre-defined rules.
Outsourcing your Accounts Receivable/ Debtors process:
- Invoice creation – Create customised invoices online or from your system and send via dropbox or email.
- Client follow-up – Check for payment and follow-up with clients for late payments.
- Credit control – Use effective credit control procedures to ensure prompt payments.
- Reconciliation of debtor accounts.
- Reports – Prepare management reports, graphs and statistics based on your requirement.
Outsourcing your Management Accounting Services
We can prepare your comprehensive Management Reports every month (or every quarter) for an affordable fixed fee. We will also ensure that you get them right on time every month for your important management decisions.
These reports will give you the latest view on your finances, expenses and business performance. We know that real time management reports is very important for a well run business. You can use these reports to evaluate the performance of your company, highlight issues, perform detailed analysis and formulate suitable solutions.
Using these reports you can get a clear comparison against previous years and what to anticipate in the future. We know that every business is different and one reporting structure will not fit everyone. That is why we work closely with you to create customised reports specific to your business.