Our team of CAs & CPAs can work on all type of accounting software and ERP solutions, we can assist in monthly closing, preparation of monthly management reports. We are specialist in cloud-based accounting software like Xero, Sage, QuickBooks and Zoho. Outsourcing entire accounting function to us removes the need to employ your own full-time accounting staff resulting in a significant saving in time and money.
Accounting information is needed before making any decision by managers or by external users. All the recorded data about the transactions happened in business are used to guide any future decision. It can help in the area of budgeting, investigating and forecasting. Managers need to be provided with an accurate financial data in order to strategically plan and move forward with actions. If the accounting is not correctly done on time and the processes are not in place, financial data may be faulty or wrong, it will be a disaster to business since decisions were made based on wrong information. Accounting provides management with data needed to determine whether a business is at a loss or a profit, how much debtors owe, liability to others and other financial information. Accounting data measures business transactions and it can help managers in the right direction.
The key is that accounting give them the clue that something may not be going according to plan, playing an important role in business management. Accounting data provides valuable information to businesses control procedures that help to solve and avoid businesses problems which can result from many reasons. Accounting information is used to evaluate performance and control business operations. Businesses have to provide accurate and reliable accounting information on their activities and operations and to pay more attention to accounting and financial data to assure stability of businesses. Also, the success of any business relies in using accounting data in the correct time.
At Sun Management, we work in hand with your organization to provide a highly proactive approach to your accounting work. We are committed, and we strive to be effective and efficient in the way we provide our services through implementation of integrated accounting systems and processes that allows us to add value to the work and provide a useful insight into your business. We partner with your business and work in hand with you to optimize your operations and allow you to focus on core business activities. With Sun Management, you can enjoy all the benefits of an in-house accounting function, for a fraction of the cost.
Business is one of the sources of earning income. Whenever a business is started, it requires investment of certain amount in the form of capital. With this amount of capital, the businessman may deal either with trading business, manufacturing business or providing services. In a trading business, he will buy goods at a lesser price and sells the same to others at a higher price.
In case of manufacturing business, he has to buy raw materials and incur other expenses in the form of wages and salaries, rent, power, insurance, tax, transport, postal and telephone expenses and so on, in the course of production and distribution of goods. In a small sized business, the transactions are simple and less in number. But in a large sized business the transactions are numerous. These business transactions enable the businessmen to know the result of his business which can be profit or loss for a given period of time. In order to know the result of his business, a businessman has to remember all the transactions of his business. However, owing to lack of memory it is not possible for anybody to remember all the transactions over a period of time. This has given rise to maintenance of a set of accounting books in which business transactions are chronologically recorded.
The systematic recording of business transactions enables the businessmen to account for every transaction without missing any item. Such a system of maintenance of a set of accounting books to record business transactions provide with necessary information in making decisions and planning for short- and long-term strategies that help business to achieve its goals and objectives.
At Sun Management, we have a team of dedicated book keepers and management accountants who are experienced in various types of accounting software and are used to manage a portfolio of work which requires reporting to various levels of management and meeting agreed deadlines.
If you are struggling to manage recording of your financial transactions in a proper accounting software and it seems like an uphill task to you, we can assist you in setting up the software and the entire accounting process and cleaning out your books, arranging them in an orderly manner for you to be timely informed and to make sure that you know that business is meeting its goals. We offer daily, weekly, fortnightly and monthly accounting services along with accounting for backlog data.
With the speedy advancement of information technology and capabilities of availing data across any part of the world, there has been an increasing demand and acceptability of online accounting software. Online accounting and readily available dynamic information can give valuable insight into business, help improve performance, and allow to manage the business from anywhere 24/7 without any dependence and interruptions. It can give real time view of the business as the accounting information stored in cloud can be entered, updated and accessed from any part of the globe irrespective of the physical presence of the human resources enabling them to effortlessly and quickly complete their tasks.
Traditionally self- install accounting software are installed on the desktops / servers on premises but in Cloud Accounting the accounting software is hosted on remote servers. Data is sent into “the cloud,” where it is processed and available to the user. All application functions are performed off-site into the cloud, not on the user’s desktop. One can access the accounting software remotely through the Internet or other network via a cloud application service provider.
At Sun Management, we can advise on the most suitable online accounting software for your business, help with successful implementation and train your key people on the best utilization of the software. Our teams are fully conversant with almost all the cloud-based accounting software like Xero, Sage, QuickBooks Online, Zoho etc. meaning we can give you all the valuable advice and much needed support for a smooth implementation and migration.
Few cloud accounting software that we recommend are:
Accounting is collection, recording, processing and storing financial transaction occurred in a specified period of time. Thus, accounting is all about numbers. Knowing the numbers is very important to see where your business is standing, however it is not quite enough. Businesses need a way to deliver and communicate its numbers, and the way to do that is through financial reporting. Accounting data is a fundamental source of internally certified information about the performance of all departments of any firm, and it provides, as a form of financial statements, valuable information about the financial and operational position of any business. These reports, statements and data are presented to provide the management with reasonably accurate information to help them make short- and long-term decisions. There are many users that can benefit from these numbers and figures like owners, CEO, CFO and some external stakeholders.
Each business has its own ever changing internal and statutory reporting requirements and need these reports time to time and hence reporting requirements continue to evolve. We understand the importance of meeting the said requirements on timely basis.
If you do not have a full time CFO or think that it would be an expensive affair to hire a CFO, our senior qualified Chartered Accountants are there for you. We can work like a CFO of your company taking care of all your financial and commercial matters and help you run and expand your business.
Business technology has revolutionized the mundane world of accounting. Accounting software applications enhance the way companies record their financial transactions and flow information through their divisions and departments.
Accounting software is a computerized version of traditional accounting ledgers and journals. Rather than using paper ledgers to record information, accounting software allows accountants to maintain electronic records of financial transactions. Business owners can use accounting software to improve their company's security for sensitive financial information. Software also allows companies to limit employee access to accounting information. Companies can use accounting software to improve the accuracy and validity of financial information. Many accounting software applications include defaults or exception reports to alert owners about invalid information.
Starting up a business is a daunting challenge and the entrepreneurs and startup companies are many times found struggling to manage their books. At Sun Management, we work hand to hand with startup businesses, SMEs and entrepreneurs in implementing accounting software as per the nature, size and activity of the business. We also help them managing their books and supporting them with the needed expertise and knowledge.
Any data is useless if you can't derive knowledge from it and without supporting data you are just another person with another opinion. And, this is where Microsoft data analytics and Power BI can extraordinarily help. Power BI changes the way you gain insights from data; it brings you a cloud-based, business intelligence (BI) and analytics platform that democratizes and opens BI to everyone. Power BI makes data analytics pervasive and accessible to all users.
Power BI is a business analytics service provided by Microsoft. It provides interactive visualizations with self-service business intelligence capabilities, where end users can create reports and dashboards by themselves, without having to depend on information technology staff or database administrators. Power BI provides cloud-based BI services, known as "Power BI Services", along with a desktop-based interface, called "Power BI Desktop". It offers data warehouse capabilities including data preparation, data discovery and interactive dashboards.
At Sun Management, our expert IT and analytical team will assist you in setting up the same in order to facilitate the varied reports that are essential in data mining the needed details to assess the overall performance of the organization, identification of weak areas and analytical data that will show key health indicators of the organization. We can help implementing Power BI in your organization that enables you to connect to your data, visualize and analyze it, and share insights with other users. At a high level. Power BI consists of three products:
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