Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company’s operations, financial position, and cash flows.
With increasing regulations and introduction of new standards, Finance Departments will feel the need for enhanced scrutiny and specific local knowledge to ensure compliance requirements are met. By engaging a third party with your accountancy and finance functions, these risks can be mitigated while your management and resources can be focused on value adding and core business activities.
Although the accountants provide you with the picture of how your business is running, and accounts are required for fulfilling different regulatory requirements, maintaining an in house professional accountant, takes up your office space, increases your cost, increases paperwork, increases overhead cost and often the service that you get is not up to your expectations. Accurate and practical financial advices and right financial data is pivotal for business profitability. In Bangladesh the need of such Proficient accountancy is absolute. We understand the trouble you could have seeking for a premium Accounting Service in Bangladesh. Like most small business runners, you struggle continuously with the urge to improve this business profitability and simultaneously stress yourselves by sorting out the means of reducing taxes, manage overhead costs and also scrape some personal time for yourself and family.
Eliash & Associates provides end to end finance, accounting and reporting management services. We support CFOs by rationalizing costs while achieving performance, mitigating risks of non-compliance and identifying areas of growth. We believe in understanding customers’ exact needs and developing a customized solution that best suits their diverse business needs.
We provide a complete range of accounting services as follows:
General accounting – Preparation and maintenance of day-to-day bookkeeping and monthly or quarterly accounts, where we act as your accounting bookkeeper. Our experts utilize popular Bookkeeping and Accounting Software platforms like QuickBook , Sage , Xero , Odoo etc. to ensure data correctness and faster results. For clients who do not have accounting software, we engage a SaaS (software as a service) model where we provide licensed QuickBooks deployment as part of accounting services. Our experts are also trained to use client provided ERP systems and they have advanced expertise in SAP, 1c , Sage 500 etc. Our accounting software is hosted in secure cloud servers with daily backups and enhanced security designed to provide the highest level of security for client data.
Preparation of Financial Statements – We are experts in preparation of financial statements as per International Financial Reporting Standards (IFRS) and local GAAP. This includes the following:
- Statutory financial statements.
- Customized management reports for Group Reporting.
- Month closing activities including accruals, JVs and reversals.
- Forecasts and budgets.
- Tax statements.
- Reconciliations including bank, revenue, asset/liability codes etc.
Receivables & Payables Management – We help clients better manage their balance sheets by providing the following services:
- Invoice processing/order processing.
- Payables processing.
- Managing credit days.
- Providing timely reports to ensure timely collections to reduce debtor days.
- Payment processing.
Fixed Asset and Inventory Management – We assist clients manage their inventory and fixed assets by:
- Tracking and accounting for fixed assets.
- Record inventory movement, location and delivery.
- Periodic inventory and fixed asset counts.
- Fixed asset tagging services.
- Running depreciation.
- Physical Verification of Inventory.
- Fixed Asset Verification.
- Preparation of Fixed Assets Register.
- Preparation of Inventory Register.
- Depreciation method selection and calculation.
Assistance to auditors for statutory and internal audits – We work with client designated auditors to ensure smooth completion of statutory, management and internal audits. Our teams are trained to be the first point of contact for auditors and providing documentation, ledgers and reports for auditors.
We also provided the following services:
- Treasury & Fund Management.
- Integrated planning.
- Budgeting & Forecasting.
- Cash Flow Management.
- Financial Planning and Analysis.
- Asset Liability Management.
- PF Accounts Preparation.
- WPPF Accounts Preparation.
- FDI Reporting.
- Accounts Review.
- Financial Review.
- Monthly payroll processing.
- Payroll tax computation and deduction.
- Feasibility Study.
- Cost Certification.
- Price Verification.
- Outsourced Accounting.
- Payroll Outsourcing.