Accounting Process Outsourcing Financial Statement – IGAAP/Ind AS/ IFRS

  • Preparation of Standalone Financial Statements as per Sch III and accounting standards
  • Preparation of Consolidated Financial Statements as per Sch III and accounting standards
  • Drafting accounting polices
  • Disclosure required as per Sch III and accounting standards
  • Assistance and co-ordination in audit
  • Resolving audit queries
  • Co-ordinating with other professionals
Rhapsody Accounting Process Outsourcing Services

Accounting Process, Book keeping & Accountancy

Accounting process

  • Setting up of accounting system
  • Book keeping in tally, Sehaj, ERP or any other accounting package
  • Recording of all business transactions under IGAAP/Ind AS
  • Maintaining day to day vouchers
  • Managing account payable and receivable
  • Invoice Management
  • Fixed asset register
  • Statutory dues Payments
  • Cash & Bank Processing
    • Cheque writing
    • Commination with Banks
    • Bank reconciliations and co-ordination
  • Maintaining permanent files
  • Customised MIS report
  • Trial balance closure
  • Preparation of audit documents
  • Audit consultation and assistance

Accounting process

  • Setting up of accounting system
  • Book keeping in tally, Sehaj, ERP or any other accounting package
  • Recording of all business transactions under IGAAP/Ind AS
  • Maintaining day to day vouchers
  • Managing account payable and receivable
  • Invoice Management
  • Fixed asset register
  • Statutory dues Payments
  • Cash & Bank Processing
    • Cheque writing
    • Commination with Banks
    • Bank reconciliations and co-ordination
  • Maintaining permanent files
  • Customised MIS report
  • Trial balance closure
  • Preparation of audit documents
  • Audit consultation and assistance
Accounting Process, Book keeping & Accountancy

Payroll Process

  • Preparing and maintain employee records
  • Payroll processing
  • Prepare pay slips
  • Prepare Form 16
  • Prepare monthly bank transfers
  • Tax computation and other tax related issues w.r.t payroll
  • Maintain leave records
  • Statutory compliance such as PF, ESI , TDS and professional tax
  • Co-ordination with Actuarial valuer for Gratuity and leave encashment
  • Provide employee support services that resolving employee queries
  • Reimbursement of expenses
Manage Employee Records and Payroll Process

Direct Taxation Income Tax Preparation Services

Direct Taxation

  • Assist with tax compliances
  • Assist with advance tax working
  • Assist with income tax return and TDS return
  • Reconcile with 26 AS at regular interval
  • Assist with tax assessment

Direct Taxation

  • Assist with tax compliances
  • Assist with advance tax working
  • Assist with income tax return and TDS return
  • Reconcile with 26 AS at regular interval
  • Assist with tax assessment
Direct Taxation Income Tax Preparation Services

Indirect Taxation

  • Assist with GST compliances
  • Assist in preparing GST returns
  • Assist with GST assessment
Indirect Taxation Preparing GST Return

Preparation of Financial Statement and Reporting

Internal controls over financial reporting

  • Assistance/review in preparation/ of Process flow for all significant processes
  • Assistance/review in preparation/ of identification of activities in each process
  • Assistance/review in preparation/ of identification of related controls and their assertions
  • Testing of controls for samples selected by Management.
  • Assistance/review in preparation/ of documentation for matters like estimates, accounting positions etc
  • Assistance/review in preparation/ of documentation for review of process for preparation of financial statements
  • Assistance/review in preparation/ of documentation for compliance of all regulatory requirements
  • Assistance/review in preparation/ of documentation related to Control environment and Risk Assessment, including Information systems and communications at entity level
  • Coordination with Auditors, if required

Internal controls over financial reporting

  • Assistance/review in preparation/ of Process flow for all significant processes
  • Assistance/review in preparation/ of identification of activities in each process
  • Assistance/review in preparation/ of identification of related controls and their assertions
  • Testing of controls for samples selected by Management.
  • Assistance/review in preparation/ of documentation for matters like estimates, accounting positions etc
  • Assistance/review in preparation/ of documentation for review of process for preparation of financial statements
  • Assistance/review in preparation/ of documentation for compliance of all regulatory requirements
  • Assistance/review in preparation/ of documentation related to Control environment and Risk Assessment, including Information systems and communications at entity level
  • Coordination with Auditors, if required
Preparation of Financial Statement and Reporting

Secretarial Compliances

  • Assist in preparation of documents for appointment/resignation of directors
  • Assist in preparation of Director’s report
  • Assist in preparation of board/Shareholder’s meeting minutes
  • Assist in updating in statutory registers
  • Assist in change in share capital
  • Assist in other Secretarial matters
  • Assist in MCA Form filling
Accounting Standard Compliance

Rhapsody XBRL Process Outsourcing Services

XBRL Process Outsourcing( IGAAP and Ind AS )

  • End to end ‘XBRL Managed Services’ or (XMS) includes
    • Tagging services
    • Validations
    • Generation of instance document
    • Validation of instance document with MCA validation tool
    • XBRL Instance Document certification by CA/CS per MCA circular.
    • ROC filing (Filing of Form 23AC and 23ACA).
  • Use of internally developed software (Rhapsody XBRL a listed vendor with MCA is an internal developed application).
  • Gained technical expertise and possess skilled personnel in this field since the past 6-7yrs comprising of Chartered Accountants, Company Secretaries and Information technology experts/ Engineers.
  • Proficient services in providing end-to-end XBRL outsourcing solutions to approximately 150 clients.
  • We believe in spontaneity and delivering the best solutions & services thus meeting deadlines.
  • We are extremely flexible in our approach and shall ensure that clients expectations are successfully met.

Startup India Rhapsody Financial Accounting Services
Stand Up India Endeavour and Prosper
Digital India Power to Empower