5 Account Outsourcing Firms Shortlisted In India For Small Businesses

September 14, 2016

5 Account Outsourcing Firms Shortlisted In India For Small Businesses

In the last ten years, both technology and communication have become increasingly inexpensive and several mid-size enterprises find it quite easy to enjoy the same advantages of better service and lower cost by outsourcing accounting operations.

Key Factors for Deciding Accounting Outsourcing 

  • The company has to identify the strategy that is driving the outsourcing decision and communicate it to all stakeholders so that their views can be considered.
  • Then the company has to examine the full range of options at their disposal. Should they open a captive unit; should they go for a shared services arrangement; should they go for near shoring or off shoring?
  • The internal capabilities of the division whose work is being outsourced should be analyzed and whether the team has the skills to transfer and manage the outsourcing of the process.
  • The scope and logic of the business line that is going to be outsourced should be finalized.


image source:singaporeaccounting.com

Learn About How The Below Mentioned Shortlisted Outsourced Accounting Firms That Are The Best For Small Businesses….SME Networks will help you find the Outsourcing accounting firms that fits you best.

 Finsmart Solutions – Pune

Finsmart is one of the leading organizations that provide high quality Outsourced Accounting and Payroll Processing Services. Finsmart Solutions is a one stop solution for all your accounting and payroll needs. Since the time they have started off in the year 2007, they have grown considerably with an excellent track record of providing professional accounting and payroll services to their clients.

Their specialties are: Accounting services, Payroll services, Incorporation services, Audit & Review services

Know Finsmart Core Team:

Shalaka Joshi is founder of Finsmart Solutions. Holding a Chartered Accountant degree, she has experience of more than 12 years in field of Accounting, Audit and Payroll. Before Finsmart Solutions – She was working with group of manufacturing companies in Pune as a Finance Controller

Abhishek Shrivastava is a Business Solution Advisor at Finsmart. He is a seasoned professional having over 11 years plus experience in strategy planning, sales & marketing, business development, key account management, team management with excellent understanding of business dynamics and updated market knowledge combined with creative strategies.

benefits of outsourcing

image source:slideshare.net

Finsmart  Solutions specializes in :

Outsource Accounting Services

Finsmart Solutions delivers the most comprehensive, resourceful, and cost-effective bookkeeping and accounting services for your business with the help of a motivated team of seasoned accounting managers and highly skilled accounting professionals.

  • Monthly accounting entries
  • Monthly closing
  • Record maintenance
  • Monthly management reports
  • Advice on accounting process and controls
  • Attending to auditor queries
  • Bank reconciliation
  • Statutory compliance
  • Statutory dues calculation and payment

HR & Payroll Services

Finsmart Solutions provide their clients with payroll management services and payroll tax payment services in compliance with the specified government norms. Owing to their taxpaying and filing capabilities, they ascertain that the taxes are paid promptly and accurately.

Finsmart outsourced Payroll Processing Services include the following:

  • Monthly processing of payroll
  • Monthly computation of payroll related statutory liabilities
  • Monthly preparation of Bank Transfer Letter
  • Monthly preparation of Employee Payslips and Income Tax Computation report
  • Attending to employee queries
  • Generation of Form 16 annually

Company Incorporation services

Form a corporation with speed, value and ease. Setting up a company in India is not a simple task owing to various mandatory registrations and compliances associated with it. If you wish to start a company in India then Finsmart Solutions can be of assistance to you for the following:

TopSource Global Solutions - India   TopSource Global Solutions India – Pune, Hyderabad & Mumbai

TopSource was founded in the year 2004 by 4 partners who wanted to combine their desire to build a great business with their belief that basic business services could be done better. Now having more than 200 employees, it supports 450 clients across every industry sector with their payroll and accounting needs. Our cloud-based Portico application provides HR support services.

TopSource brings to midsize companies a level of service and business value previously available only to the largest corporations. Our services are easy to deploy, highly affordable, and are readily scaled from basic payroll and accounting functions to deliver greatly expanded value as your needs – and your company – grow.

emerging benefits

image source:marchmenthill.com

TopSource Core Team

Murali Santhanam is a Founder Director at TopSource. He has helped ambitious companies grow by removing the headache of finance, administration and payroll processing. He has worked with businesses of all sizes and in sectors ranging from leisure, retail, recruitment, professional services and accounting. He focuses on delivering service excellence. 

Sachin Disa is a  qualified Chartered Accountant with 16+ years of experience, of which last 12 in the financial services outsourcing industry. Currently working as a Vice President – Finance and Strategic projects with TopSource Global Solutions, India and am responsible for the groups’ financial reporting and controls and involved in new service/product development, features and sales.

Sunil Bane is Director CTO at TopSource. He provides exceptional back office solutions to help ambitious companies grow in the areas of book keeping, accounting, finance, administration and payroll processing. He has worked with businesses of all sizes and in sectors ranging from manufacturing, services, telecommunication, leisure, retail, recruitment, professional services and accounting.

TopSource offers specialized services which include:

Payroll services

TopSource is an award winning Indian payroll company. It enables you to focus on running your business. 

  • Is truly comprehensive – from time-sheet to payment. It can even link to your biometric systems.
  • Includes a huge range of reporting and system options, which can be expanded into leave management, attendance tracking and HR systems.
  • Is secure, and available via the web, 24/7.
  • Ensures you and your staff will have access to up-to-date and correct information, at all times.
  • Is managed by Chartered Accountants – so quality is built in.
  • Is fully compliant with all legal reporting requirements.

Accounting services

MIS and Reporting

TopSource can deliver all of your accounting transactions up to trial balance and their services can extend all the way to monthly management accounts (MIS) and group reporting.

In addition to our accounting services, clients get access to our SaaS based software solutions, built around our Portico™ platform and integrated across all of our applications.


  • Purchase-to-Pay Processing Solutions
  • Purchase-to-Pay Software Solutions
  • Order-to-Cash Processing
  • Reconciliations
  • Reporting
  • Document management
  • Other Support Services

Sapphire Taxofinance Consultants Pvt.Ltd. Sapphire Taxofinance- Pune

Sapphire Taxofinance Consultants Pvt Ltd, located in Pune is focused on providing effective and comprehensive Financial & Accounting Services to corporate and non-corporate entities. With their in depth knowledge of all regulations and compliances, they offer services like Assurance, Accounting Advisories, Accounting Outsourcing, Transfer Pricing, Corporate Finance Advisories, Direct Taxes and Indirect Taxes to our esteemed clients.

Sapphire Taxofinance specializes in:

Many companies have outsourced their various accounting processes to established firms like us. 

Book keeping and Accounting services

  • Preparation of financial and MIS with comments or remarks on all major items, exceptions and variances to make it ready for statutory annual audit.
  • Preparation of annual financial books as per Indian GAAP accounting standards or as per the client’s specifications.
  • Preparation and maintenance of day to day bookkeeping and monthly or quarterly management accounts, review of supporting documentations for adhering to company’s accounting policies and standards, compliance with local laws and reason-ability of expenses.
  • Liaising with banks
  • Preparation of Bank Reconciliation Statements

Payroll Management

  • Preparation and processing of pay slips with statutory deductions.
  • Preparation of Form 16 for employees and Deposit TDS and file returns
  • Transfer of payments to employees through direct bank transfers
  • Compiling year-end tax reports

Direct & Indirect Tax services

  • Tax planning and compliance.
  • Review of Processes, advising on documentation etc.
  • Advising on indirect tax consequences of mergers, de mergers, acquisitions and disposals
  • Advising on tax efficient structure within the legal framework to take advantage of the available exemptions and set-offs.
  • Advising our esteemed clients on the transition to GST.
  • Advisories – Tax planning and structuring
  • Compliance – Filing of returns and representations in appellate authorities and litigations.
  • Financial planning with wealth management.
  • Tax due diligence services for proposed transactions, mergers, acquisitions etc.
  • Advising clients for tax efficient salary structure for employees

Offshore Accounting and Taxation Services Pvt. Ltd.  OATS – Pune & Aurangabad

Offshore Accounting & Taxation Services (OATS) offers unique customer-centric Finance & Accounts outsourcing solutions for its clients since its inception in the year 2006 . Combining years of experience, cross-domain expertise and leveraging technology, they deliver cutting edge solutions to make ‘simplified accounting’ a reality. OATS offers single window services to meet all your ‘Finance & Accounting’ requirements.

Their specialties are: Accounting financial reporting, Payroll, Finance and Accounts outsourcing, tax compliance, Accounts receivables.

Image result

image source:bmgoutsourcing.com.au

Know OATS Team

Anant Govande is Co-founder & Director at OATS. He is expert in financial management, management information systems, international taxation, GAAP reporting, intelligent use of information technology for enhancing business performance.

Nishant Agarwal  is Finance and Compliance consultant with OATS. He has assisted in preparation of IFRS statements, compliance with relevant applicable statutes and worked on direct and indirect tax assessments. Also, led cash management and treasury responsibilities in the interim, before the new Finance Controller was appointed. Managed the entire accounting function along-with preparation of monthly MIS, process write-ups and budgets.
Assisted in the one-time integration into the parent company’s portfolio, post change in shareholders of the Company.

OATS offers specialized services such as:

Accounts outsourcing

With OATS’ finance and accounting outsourcing functions, you can be assured that your fiscal and regulatory risks are being managed effectively.

  • Accounts payable
  • Accounts receivable
  • Fixed assets
  • General ledger
  • Finance and accounting process
  • Financial reporting & MIS
  • Taxation

Themis Consult Themis Consults – Mumbai

Themis Consults founded in the year 2006 is one stop shop for all start-ups and SME’s in handling their key back end functions. With the aim of allowing promoters to focus on their core competencies, Themis embeds itself and acts as the clients’ Accounting, Company Secretarial or HR team. Themis currently partners with clients in the e-commerce, education, food processing, healthcare and retail spaces. And works with portfolio companies of Norwest Venture Partners, Mumbai Angels, Warburg Pincus etc.


Themis Consult



Meet Themis Consults Team

Nibhrant Shah is a founder of Themis Consults. He is pro in offering end-to-end management of Accounts, Finance, HR, and Company Secretarial solutions. Also, he is provides consulting on Operational, HR and Accounting systems and process.

Zoeb Bulsara is a Chief Operating Officer at Themis Consults. A highly accomplished professional with an excellent track record in guiding the design & delivery to position organizations for advanced growth. Strategically & cost effectively utilize resource in alignment with business needs. 

Mihir Lunia serves as a Head of Growth at Themis Consults. He is expert in Sales channel, supporting the functioning of the on-field team. Assisted Client Servicing team and streamlined processes to increase customer satisfaction Worked with the head of the channel to provide branding material to increase PAN India awareness of the company. Designed a suitable payout strategy for commission based employees. Part of organizing team of several events created by the company to bring together investors & various established companies looking to diversify their businesses

Themis Consutls offers specialized services which include:

Accounts outsourcing

Bookkeeping and preparation of yearly financial statements
Payroll Structuring
Support in Complex Accounting Matters
MIS Reporting
Accounting advisory


  • Calculation of optimum salary structure
  • Calculation and filing the relevant taxes
  • Issuance of Form 16
  • Providing employees with a pay slip

Due Diligence

  • Revenue
  • Commercial and Market Due Diligence
  • Synergy Validation
  • Maintainable Earnings
  • Future cash flows
  • Fund structuring


SME Networks have shortlisted “Accounts Outsourcing Companies” as a reference; as they found to be employing well- qualified professionals and these companies comes equipped with top preference.

The details provided will only be used to update you regularly with details of our services.

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September 14, 2016

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