Interior Decoration
Bookkeeping & Accounting for Interior Design Services Company
Accounting and bookkeeping for interior design services can be challenging due to the complexity of the business model. Interior design firms typically operate in two ways: providing design services only or designing while procuring items like furniture and electrical fittings. Maintaining accurate, project-based bookkeeping is essential for these businesses. As interior designers focus on creativity, tracking financials can become difficult. Finslog Accounting offers outsourced accounting and bookkeeping services specifically for interior design companies, ensuring their financial records are well-managed. This proper bookkeeping allows businesses to adapt their strategies and make informed decisions, ultimately contributing to their success in a competitive market.
Accounting Challenges in the Interior Decoration Industry
Time Tracking
In interior design, billing is based on hours worked, making it crucial to track time spent on each project accurately.
Tax Calculation
Accurate bookkeeping is vital for calculating direct and indirect taxes, ensuring timely VAT/GST returns and correct set-offs for interior design firms.
Getting Business Loan
Interior design firms often need quick business loans for cash flow, using past profit and loss and balance sheet statements as leverage.
Keep Track of Employee Reimbursement
Employees incur travel and related expenses for site visits, making it essential to collect proof and reimburse them accurately.
Bookkeeping of Procurement for client
Tracking procurement on a project basis is essential for interior design firms to assess the profitability of each contract effectively.
Why Bookkeeping important for Interior Design Services Company
Doing Bookkeeping right and detail for interior design services company given clear understanding of profits and project wise profit and expenses. Keeping track of time is important part of business. Most of Interior designing firms bill client on basis of hours spent on project. Your time is valuable by doing accounting keep track of time.
Checklist To Follow
| Checklist to Follow | Time | |
|---|---|---|
| Month End bank Reconciliation | Monthly | |
| Month End Loan account Reconciliation | Monthly | |
| Compare Actuals with budget of same month | Monthly | |
| Review Billable and Non Billable expense | Monthly | |
| Month End Journal Entires | Monthly | |
| Update Vendor Reconciliation | Monthly | |
| Update Petty Cash Balance | Monthly | |
| Raise Alert for Accounts Receivable exceeeding 45 days | Monthly | |
| Payroll Management | Monthly | |
| Monthly Tax payments | Monthly | |
| Monthly Compliances of TDS , GST , IT | Monthly | |
| Month End Reporting | Monthly |
Accounting Reports for Interior Decoration Industry
We have team of professional who are experienced in working with Interior designing company accounting. Get incredible insight into your business with advanced reports. You get real time access to your financials so you can easily understand profit margins and make changes in business strategy.
Important report generated by Finslog Accounting
✔ Compare Budget vs Actual Expenses & Income
✔ Key Performance Indicators of Business
✔ Monthly Accounts Payable Report
✔ Monthly Accounts Receivable Report
✔ Cash Flow Report
Financial Goals to Interior Designing Services Business
✔ Cash Flow Management
✔ Timely Recovery of accounts receivable
✔ Timely payment of accounts payable
✔ Proper documentation of expense, reimbursement
✔ Realtime financials
✔ Key Performance indicator
✔ Avail Cash Credit on timely payment
Why Choose Us?
Finslog is actively providing outsourced bookkeeping, Accounting , payroll and compliance services to small and medium business and CPA Firms. We will help you to identify the financial rations , indicators and performance readily, helping you to make the right decisions at the right time.
Upto 50% Reduced Cost
Upto 50% reduced cost compared to in-house services. Our service cost is lower due to cheap labour even thou no compromise in quality of services.
Time Zone Advantage
Favorable time zone advantage between India and US ensures high productivity and faster turnaround. We reply to mail within 24 hours.
Data Security
We use secured document management system with high end level of security. Business can rely on our services about documents safety along with Information.
Export Team
We bookkeeping team is combination of Chartered Accountant (CAP) & commerce graduates. We have expertise in bookkeeping & accounting.
Process-driven work
We developed process flow for start to end bookkeeping. We have checklist , formats and proven Project Management system helps to communicate.
Growth Services
Delegation of work helps business to give attention on primary business activities for growth. By outsourcing bank office you focus on Growth.
Quick Connect With Us
Part Time / Full Time
Resources For
✔ CPA Firms
✔ Enrolled Agents
✔ Bookkeeping Firms
✔ Tax Practitioners
✔ Business Owners
Why Finslog is the First Choice
for Accounting & Tax Preparation
Finslog offers expert, cost-effective, and reliable accounting services with a focus on transparency, efficiency, and timely results
✔ Experienced Professionals: Skilled team with years of experience ensures reliable and accurate results.
✔ Efficient Project Management: Self-hosted system enables smooth communication and seamless project handling.
✔ Cost Savings: Save 40-50% compared to local accountants without compromising quality.
✔ Transparent Processes: Clear workflows keep clients fully informed and confident in the outcomes.
✔ Quick Turnaround: Same-day or 24-hour maximum response time for inquiries.
✔ Regular Updates: Frequent email updates provide essential business information and progress reports.
✔ On-the-Go Meetings: Schedule expert meetings anytime for efficient communication.
✔ Meeting Deadlines: We complete work ahead of deadlines to ensure a smooth process.
✔ Comprehensive Checklists: Detailed, well-organized checklists eliminate confusion and ensure thorough coverage.
✔ High Quality Standards: Standardized procedures ensure error-free work and top-quality service.