IT BPO Company
Bookkeeping For IT , BPO Software Companies
Bookkeeping for IT, BPO, and software companies is essential for growth, as accurate monthly accounting helps monitor expenses and revenue. These companies often work on long-term, client or project-based assignments, making it crucial to track revenue and expenses per project. IT companies also bill expenses like manpower and overheads to clients, so proper accounting ensures accurate project-based financial insights and profit tracking. Timely invoicing and managing employee costs are key challenges. At Finslog, we provide expert bookkeeping services using top software like QuickBooks, Zoho, and Xero, delivering project-wise reports, cash flow analysis, financial statements, and accounts payable/receivable management for IT and software companies.
Accounting Challenges in the IT , Software Industry
Project Vise Accounting
IT software companies face challenges in preparing project-wise accounting statements due to multiple ongoing projects and various expenses.
Payroll Management
Employee costs dominate IT software industry expenses; ensuring correct salary payments post-tax deductions and timely government remittances is crucial.
Accurate Financial Forecasts
Financial forecasts help manage cash flow by anticipating payables and receivables, enabling companies to plan loans for liquidity needs.
Billable and Non Billable expenses management
Software companies face challenges in managing expenses, ensuring proper bifurcation between billable and non-billable costs for accurate client billing.
Accounts Receivable Management
IT companies must raise timely bills per long-term agreements, ensuring proper accounts receivable management and smooth cash flow.
Our Accounting Services for IT, Software Company
We have team of professional who are experienced in working with IT , software , BPO companies. 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. At Finslog we combine our experience and lates accounting tools to meet you accounting and bookkeeping requirements. Finslog Accounting has always aimed to deliver prompt systematic accounting service to the businesses helping them to achieve growth in the market.
✔ QuickBooks Setup
✔ QuickBooks Migration
✔ Past Accounting Clean Up
✔ Inventory Management
✔ Accounts Payable & Receivable
✔ Bank & Credit Card Reconciliation
✔ Budgeting and Financial Forecasting
✔ Past Accounting Clean Up
✔ Detailed Financial Statements
✔ Cash Flow Management
✔ Reporting & Analytics
✔ Audit Support
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 Management
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
✔ Billable Expense Management
Financial Goals to Achieve for software , IT Companies
✔ Cash Flow Management
✔ Timely Recovery of Accounts Receivable
✔ Timely Payment of Accounts Payable
✔ Identify Profitable Areas
✔ Proper Documentation of Expense & Reimbursement
✔ Real-Time Financials
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.