Finance & Account outsourcing

RDNA Global Solutions Private Limited is a Services Under Business Process Outsourcing

Finance & Account outsourcing

Finance and accounting outsourcing is a growing trend among middle market and high-growth companies, providing a cost-effective way for organizations to improve the finance and accounting function.

When any organization outsources accounting, tax preparation, bookkeeping or other finance and accounting services to RDNA Global, organization can expect manifold benefits, such as:

  • Significant cost savings.
  • Enjoy secure book-keeping and accounting.
  • Benefit from fast and scalable services.
  • Meet all your requirements at one destination.
  • Take advantage of our domain expertise.
  • Get access to Sarbanes-Oxley compliant services.
  • Benefit from our collaborative approach in finance and accounting services.
  • Get our technology to work for you.

The accounts payable process must also be efficient and accurate in order for the company's financial statements to be accurate and complete.

Accounts Payable

Accounts payable (AP) is money owed by a business to its suppliers shown as a liability on a company's balance sheet. Accounts Payable is a short-term debt payment which needs to be paid to avoid default.
Regardless of the company's size, the mission of accounts payable is to pay only the company's bills and invoices that are legitimate and accurate. This means that before a vendor's invoice is entered into the accounting records and scheduled for payment, the invoice must reflect & checks should be made –

• What quantity & quality company had ordered.
• What quantity & quality the company has received.
• The proper unit costs, calculations, totals, terms, etc.
• When it is due for payment.

At RDNA we can manage all these phases of Account Payable for your Business at a very reasonable price by following process –
-Vendor registration by approval
-Invoice & claims approval
-Invoice checking
-Regular MIS & exception items reporting
-Dedicated team of persons

Benefits of Account Payable on time:-
-By making accounts payable on time they can be able to renegotiate better credit terms with the suppliers.
-By making accounts payable on time companies can get discount.

Accounts Receivable

Accounts receivable is the balance of money due to a firm for goods or services delivered or used but not yet paid for by customers. Accounts receivable may be further subdivided into trade receivables and non trade receivables, where trade receivables are from a company's normal business partners, and non trade receivables are all other receivables, such as amounts due from employees. The total amount of accounts receivable allowed to an individual customer is typically limited by a credit limit, which is set by the seller's credit department, based on the finances of the buyer and its past payment history with the seller. At RDNA we can manage all phases of Account Receivable for your business at a very reasonable price.

Benefits of Account Receivable outsourcing
-Timely follow up for payments
-Better cash flow for company

Calculating Days Sales Outstanding
An important aspect of accounts receivable management services is Days Sales Outstanding (or DSO). This tells us tells how many days' worth of sales are outstanding and unpaid within a time gap.

Remain in control
By outsourcing accounts receivable services, you will always have access to up-to-date data. Instead of realizing too late that your cash flow is being impeded, you'll instead be able to make any necessary rectifications much sooner. You won't lose control of the accounts receivable process either: Many companies don't realize going in that they manage an outsourced provider more stringently than their in-house resources were managed.

Staffing costs
You can avail dedicated team for accounts receivable work through us at the same time there is no need for a full-time accounts receivable resource in your business. You'll save both time and money, and you'll improve your cash flow position as well.

General Ledger

A general ledger is the master set of accounts that summarize all transactions occurring within an entity. A general ledger (GL) is a set of numbered accounts a business uses to keep track of its financial transactions and to prepare financial reports. Each account is a unique record summarizing each type of asset, liability, equity, revenue and expense. A chart of accounts lists all of the accounts in the general ledger; General ledger accounts are assigned unique identifying account numbers. These numbers may range from a simple three-digit code to a more complex version that identifies individual departments and subsidiaries. The general ledger is also known as the book of final entry.

At RDNA we can manage all phases of General Ledger for your business at a very reasonable price.

Process of GL handling –

As at RDNA we are using cloud based software's , once our team will receive input information's we will process it within a reasonable TAT and keep your GL up to date and you can access it through our cloud based software from anywhere .

Benefits of GL on time: -

-Cost-effective services minus investments: - When you outsource general ledger reconciliation services, you can save on operating costs, without having to make any investments on software, resources, infrastructure or technology. Since the outsourcing service provider will be using their own team of skilled accountants, you need not worry about the cost of hiring and training an accounting team.

High-quality services with guaranteed accuracy: -

While outsourcing, every business faces the fear of low-quality work. However, this is not true. Outsourcing general ledger reconciliation services need not mean that you compromise on quality. Outsourcing service providers like RDNA BPO only hire resources after a strenuous recruitment process. Then, the new team of accountants is given intensive training before commencing work on any project. During the course of an accounting project, there are several levels of Quality Assurance checks that the work goes through, to ensure high level accuracy.

Advantage to international customer about Completion of work ahead of the deadline: -

When you outsource accounting services to India, you can tap into India's 12 favorable time zone differences. Contrary to popular belief, outsourcing can get your work completed at a much faster pace, since your night time is India's day time. This difference in the time zone makes it possible for you to send in your work at the end of your work day and receive the completed general ledger accounting files on the very next morning. By getting your accounting work completed at such a fast pace, you can make important business decisions, without time delays.