50% discount for Startups on Outsourced Accounting Services

Start Outsourcing Accounting Services With a Flat 50% discount

TCF Consulting Services (I) Pvt. Ltd. (TCF) is offering a flat 50% discount on agreed first month fees to all startups and small businesses. The offer is valid until Jan 31, 2016 so you need to act fast. Click Grab the Offer button to claim your offer now.

This offer is valid for all new users who start outsourcing their accounting services to TCF Consulting Services (I) Pvt. Ltd. (TCF) before Jan 31st, 2016. You get a flat 50% discount on the first month fees. If you have not tried outsourced accounting services before, this gives you a great opportunity to try outsourced accounting services without a huge upfront cost.

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Save 20-30% by going for Outsourced Accounting Services

The basic reason behind popularity of outsourcing is simple – it helps you cut costs by over 20%-30%, save time, and simply gets peripheral functions out of your hair! For a small business, just the thought of outsourcing their financials is a tough step to take.

We have seen several such instances where hesitation to outsource has stopped the growth mid-way.

Let’s get you through some basic points to consider before outsourcing your accounting services. This blog can also serve as a basic research reference point for small businesses who are looking to hire outsourced accounting services firms for their operations.

Why Should you use Outsourced Accounting Services?

Free up your time from accounting

No matter how much you prioritize your to-do lists and tasks, a 24-hour work day never seems enough. A persistent thought among entrepreneurs and leaders of large teams is that they always feel the day is not complete, something or the other was left out. In such a scenario, accounting only feels like an overhead for a small firm. You want to get it out of the way, but you cannot hurry because if accounting not managed properly can boomerang back to you in the form of additional costs and penalties.

Given the financial and tax implications, it just cannot be performed with a lackluster approach; accuracy forms an inherent and unspoken requirement for accounting. A trusted outsourced accounting services partner frees up a huge chunk of your time, and lets you focus on other important functions.

You can use the freed up time for hiring field sales people or attend events to make new contacts. Basically, you can devote the time for growth-related activities rather than spending hours and days on accounting services which are essentially nothing more than peripheral functions.

Don’t take chances with your money

Chances of an internal person manipulating data are high; that person has intent. When you are working with an external agency, you are creating a layer of abstraction – thereby reducing the personnel risk factor to a minimum. Another aspect of security is how secure are your accounting firm’s databases.  Password protection is the most basic form of security, the accounting firm should implement strict checks and gates at various data entry/exit points in their internal control systems. The outsourced accounting services firm you choose should be able to confidently answer any questions that you ask about their database security.

Startups shouldn’t have to go hunting for multiple outsourced accounting services

It is an age-old saying – “Always read the fine print”. Chances are you have been running your business for 1-2 years and have fairly good idea about what services you require. If you don’t have a clear picture of what services you require, you may even hire an independent consultant for a one-time accounting need analysis of your operations. When hiring outsourced accounting services agency, study the services carefully.

It is highly important to ask the right questions to evaluate the services. No marketing brochure tells you the flaws; such brochures are inherently biased towards the meeting the objectives of the firm.

The accounting firm you choose should be well exposed to multiple accounting software

Experience always matters – especially in case of accounting services since you are dealing with laws of the country you do your business in. Not all the companies use same accounting software, some of them may be used to a certain bookkeeping software or sometimes we may see a whole industry clients leaning towards a certain tax application due to better integration with that industry’s laws. For an accounting firm, with experience comes the exposure to different accounting programs used by different types of clients. Such a partner is more reliable than others and will be capable to help you navigate through most problems down the road.

TCF Consulting Services (I) Pvt. Ltd. (TCF) as your outsourced accounting services partner

TCF Consulting Services (I) Pvt. Ltd. (TCF) regularly assists its clients on issues regarding business setup, finance & accounting, taxation and compliance

TCF employs a team of chartered accountants and certified public accountants who take care of every problem at a granular level for the client. Their involvement is not limited to the issues realized during the course of complex and global business transactions. They have a reputation for seamless services and have earned a solid trust of their clients.

At TCF, the belief is that every business is different and one size rarely fits all. The level of service and the efficiency, however, remains constant – whether the client is a one year old startup or a 10-year old midsized company.

For over 23 years, TCF along with its affiliates has acted as a powerful business ally for various individual and corporate clients. TCF’s service is focused on reduction in expenses, improvement in financial performance and securing every possible tax advantage.

TCF Consulting Services (I) Pvt. Ltd. (TCF) clientele

Some of these firms enlisted TCF as their outsourced accounting services partner as small, budding businesses; now they have grown to large multinational organizations today.

• Bridgei2i Analytics Solutions Private Limited
• Cast Software India Pvt. Ltd (Associated to : Cast S.A, France)
• Libre Wireless Technologies Pvt Ltd
• Numeca India Software Pvt Ltd(Associated to : Numeca, Belgium)
• Si3D Systems Private Limited
• Simpluris Technologies Pvt. Ltd. (Associated to : Simpluris Inc., USA)
• Smartesting Software Solutions (India) Pvt. Ltd
• Snapwiz Edutec (India) Pvt. Ltd. (Associated to : Snapwiz Inc., USA)
• VectorCAST Software Test Automation Private Limited(Associated to : VectorCast Inc, USA)
• CourseOn Technologies Private Limited
• & many more..

Outsourced accounting services provided by TCF Consulting Services (I) Pvt. Ltd. (TCF)

Accurate accounting

“Before you can really start setting financial goals, you need to determine where you stand financially.”- David Bach

As mentioned earlier, outsourced accounting services is an important function – whether it is for a 10-person startup or 150-employee organization; Well-informed, timely, and accurate accounting services are requirements of SMEs and startups alike. Unfortunately, many small businesses do not have the resources to process all accounting functions internally. As an SME with TCF, you share the same strong, professional team that largest corporations depend upon to keep them on track. Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis. TCF’s state of the art computer technology makes working fast and easy.

General outsourced accounting services

At TCF, services offered extend beyond the basic accounting and bookkeeping tasks. Below is a condensed of such services:

• Tax Advisory (Direct Tax & Indirect Tax)
• Transfer Pricing
• Accounting Services (including outsourcing)
• Financial Reporting Services
• Regulatory Compliance Services
• Payroll Related Services
• Financial Due Diligence

Customized outsourced accounting services

TCF believes in going beyond the written word and in working aggressively for customer delight, our services include following outsourced accounting services. Customization is an important aspect of TCF’s services. Below is a list of customized accounting services from TCF:

• Maintaining books of accounts
• Ensuring daily reporting, operating bank accounts, maintaining records, preparing budgets / forecasts
• Coordinating with banks on financing related matters
• Coordinating with banks and company secretaries for opening current accounts
• Coordinating with banks, company secretaries and lawyers for opening escrow accounts
• Working with accounts department and other departments on finance related matters
• Overlooking payroll process and payroll structuring
• Coordinating with company secretaries on various ROC filings
• Coordinating with company auditors on statutory and internal audits
• Ensuring compliance with various applicable financial/regulatory laws
• Preparing financial statements
• Ensuring compliance with Indian Accounting Standards, Indian GAAP, and Companies Act
• Ensuring all the necessary disclosures

Depending on the size of engagement, TCF may also be interested in engaging in one-on-one consultations as required.

Accounting software selection & implementation

The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.- Bill Gates

There are plethora of accounting software available in the market. Which one is most suitable for you? Which one should you use? Experienced staff at TCF can help you choose and implement the system that best fits your needs. TCF provides the complete cycle of services from selection of accounting software for new businesses to setting up the system to maintenance of client books. Deployment of TCF’s accounting professionals at customer site to assist the setup and maintenance of client books can also be explored.

Technical guidance

TCF has the technical expertise to assist companies with the complex accounting and reporting issues. In addition, TCF’s comprehensive knowledge library and commitment to ongoing professional development ensure that our team members remain industry leaders. You can be assured that TCF professionals will manage your technical accounting issues with scrupulous care, competency, effectiveness and efficiency.

FAQs for Outsourced Accounting Services

To help entrepreneurs, we have compiled a list of frequently asked questions over outsourced accounting services.

Q1. I have just started my business 6 months ago. I recently expanded my team but I am not very experienced with the financial terminology.

TCF Consulting Services (I) Pvt. Ltd. (TCF) has a very broad experience and has handled incorporation of several startups and small businesses. After the initial agreement when our engagement starts working on the ground, we gather data from our clients in robustly defined Excel sheets. If they have complete data which is decently organized, it makes our job a lot more easier.

Of course, the same cannot be expected of small businesses with less than 10 employees. For them, we go beyond our regular defined duties. Based on their level of organization, we suggest them ways to organize and better prepare their data. We also help them to optimize their own internal processes so as to help them increase their efficiency.

When new businesses start off, they usually have very little accounting and compliance exposure. We ensure that this knowledge gap is filled in a timely and comprehensive manner. We also understand that costs are central to most business decisions for all startups. Hence we provide a highly flexible pricing structure.

Q2. I am looking to switch from my existing outsourced accounting services provider to a more experienced outsourced accounting services partner. What are salient features of the TCF Consulting Services (I) Pvt. Ltd. (TCF)?

Our biggest strength remains our global presence. Our parent firm Chugh LLP (Earlier Known as “The Chugh Firm”) (USA) has major presence in 5 American cities – Los Angeles, Santa Clara, Atlanta, Washington DC, and Edison. In India, we have offices in Delhi, Bangalore, Chandigarh, Ahmadabad, Mumbai, Chennai and new offices coming up in Hyderabad and Pune. Such a wide presence allows you access to our services anywhere in India or USA.

In case, you decide to shift your firm’s offices, you will likely find our offices too in that city and if you don’t find, we can work out an agreement to deploy the requisite number of employees onsite in your offices.

Both our holding firms, Chugh LLP (Earlier Known as “The Chugh Firm”) (USA) and Universal Legal (in India) are law firms. So, you not only get access to accounting services, we also provide exposure to legal services at competitive rates.

Q3. My accounting data is very sensitive. How reliable is TCF Consulting Services (I) Pvt. Ltd. (TCF) in terms of security?

For clients who require 24×7 availability of data, we provide cloud services via Dropbox for Business. All the access permissions are strictly controlled, all assignments are validated before granting them access to the data. We ensure all our data is kept secure but at the same time, we also prepare ourselves for sudden outages by maintaining backups in our local servers. We rigorously ensure data for such clients is available at all times.

Some clients do come to us with no particular needs of data access over cloud. For them, we create 3 copies of data – one on local primary server and two on secondary servers for redundancy requirements.

Q4. If I choose TCF as a my outsourced accounting services partner, how frequently will I be charged?

Our charges are extremely flexible, you will never be charged more than the services you avail.

For smaller clients with 0-25 employees with up to 200 bank transactions per month, our services start from Rs. 7,500/- and go up to Rs. 10,000/-. For larger clients, we offer our services in the price range of Rs. 15,000/- to Rs. 50,000/- depending on the level and complexity of our engagement.

Image sources: accounting-business-help.com, crippencpa.com