Accounting & Business
At Optimise ecom ltd, we offer a suite of expert accounting services tailored to meet the unique needs of businesses.
With a team fluent in accounting, we ensure precision and efficiency in financial management. Our services include:
Bookkeeping
Our skilled team, fluent in accounting, provides comprehensive bookkeeping services:
​
-
Transaction Recording: Daily, monthly, and quarterly updates for accurate financial records.
-
Journal Entries: Precise adjustments and closing entries for financial accuracy.
-
Ledger Management: Reviewing nominal and general ledgers to maintain data integrity.
-
VAT Reporting: Accurate VAT report generation and thorough reviews for tax compliance.
-
Query Resolution: Prompt responses to address any financial inquiries.
-
Annual Accounts: Preparation of comprehensive annual financial accounts.
-
Work Papers & Checklists: Organized work papers and checklists for efficient audits.
-
Software Guidance: Expert advice and implementation for accounting software like Xero, QuickBooks, and Sage.
​
​ Count on us for proficient bookkeeping, freeing you to focus on business growth.
Payroll
​
-
Employee Information Management: Maintaining a detailed record of staff information, including new hires, their respective departments, pay rates, holiday entitlement, hierarchical positions, and reporting managers.
-
Data Capture: Efficiently capturing employee attendance data through biometric devices for clocking in/out or utilizing client-provided time sheets and attendance records.
-
Payroll Calculation: Precisely calculating wages, which may include hourly rates, fixed periodic salaries (weekly, biweekly, or monthly), customized to meet the specific requirements of the client.
-
Confidential Pay Slips: Generating secure and confidential pay slips that encompass tax deductions and other applicable deductions, which are then securely delivered to employees via email with password protection, safeguarding salary confidentiality within the organization.
-
Salary Disbursement: Facilitating salary payments through bank transfers or as per the client's preferred method, ensuring flexibility in accordance with client needs.
-
Holiday Entitlement Management: Maintaining and administering holiday entitlement records, ensuring compliance with statutory requirements and timely payment of holidays.
-
Overtime Computation: Accurately calculating overtime compensation based on client-specific shift patterns and relevant regulations.
-
Payroll Tax Returns: Submitting monthly or as-needed payroll tax returns in adherence to regulatory requirements.
-
Annual Payroll Reporting: Preparing and submitting the annual payroll return, meeting regulatory obligations.
-
Tax Authority Communication: Addressing tax queries promptly, either by direct communication with tax authorities or by coordinating with the client as per their preferences and requirements.
In addition to these services, we offer comprehensive MIS (Management Information System) reports, including:
i. Variance Reporting: Monthly, quarterly, and annual variance reports to analyze deviations from budgeted figures.
ii. Attrition Rate Analysis: Tracking and reporting on employee attrition rates.
iii. Budget vs. Actuals: Providing insights into budget versus actual financial performance.
iv. Custom Reports: Tailoring reports to meet any additional requirements specified by our clients.
​
By choosing our services, you gain access to streamlined payroll processes, accurate financial reporting, and valuable management insights through MIS reports, ensuring your organization's financial well-being and compliance.
Accounts Payable (AP) Services
In our Accounts Payable (AP) services, we streamline the entire invoice processing workflow, ensuring accuracy and efficiency. Here's an overview of our key offerings:
​
-
Digital Invoice Handling: We receive and process all suppliers' invoices as scanned documents or electronic files (edoc).
-
Data Entry: Our team meticulously enters all relevant invoice data into the chosen accounting software, including popular platforms like Sage, Xero, QuickBooks, or any client-specific accounting package, adhering to client preferences and requirements.
-
Payment Scheduling: We prepare weekly or monthly payment lists, categorizing payments into different priority buckets, such as priority, standard, and non-urgent, based on the client's criteria.
-
Creditor Analysis: We produce and analyze a creditors list, ensuring that it aligns with credit limits and other relevant factors, providing insights for better financial management.
-
Electronic Payments: Payments are made electronically (ePayments) or in accordance with the client's specified payment methods and schedules, ensuring timely and efficient transactions.
​​
Our Accounts Payable services are designed to enhance efficiency, accuracy, and financial control while accommodating the unique needs and preferences of each client.
Accounts Receivable (AR) Services
Our Accounts Receivable (AR) services are designed to streamline and optimize your receivables management. Here's an overview of the key components we offer:
​
-
Invoice Management: We handle the entire invoicing process, including the generation and delivery of invoices to clients. For clients with complex requirements (e.g., split invoices for sub-suppliers, freight, returns), we ensure accurate reconciliation and tracking.
-
Data Entry: All relevant data, including invoice details, is meticulously entered into the chosen accounting software, whether it's Sage, Xero, QuickBooks, or a client-specific accounting package, in accordance with client preferences.
-
Aged Debtors Reporting: We provide weekly or monthly aged debtors lists, analyzing outstanding receivables in alignment with client guidelines, enabling you to proactively manage collections.
-
Client Communication: We take proactive steps to contact clients who have not paid, exceeded their credit limit, or require general reminders about invoices or statements, ensuring timely follow-up and resolution.
-
Management Information System (MIS) Reports: We offer comprehensive MIS reports, including:
i. Variance Analysis: Monthly, quarterly, and annual income variance reports from various income streams.
ii. Customer Monitoring: Identification and monitoring of new customers.
iii. Client Portfolio Analysis: Weighted analysis of clients to prevent over-dependence on a single client, along with strategic recommendations for improving sales where possible.
iv. Budget vs. Actuals: Insights into budget versus actual financial performance.
v. Custom Reports:Tailored reports to meet any additional requirements specified by our clients.
​
Our AR services are designed to optimize your cash flow, improve client relationships, and provide valuable insights through MIS reports, ensuring your financial operations run smoothly and efficiently.
Accounts Finalization Services
Our Accounts Finalization services encompass a range of critical financial activities to ensure the accuracy and compliance of your financial records. Here's an overview of the key components:
​
-
Accounts Verification: We meticulously verify and scrutinize the data posted in the bookkeeping records to ensure accuracy and reliability.
-
Financial Statement Preparation: We prepare monthly, quarterly, and yearly financial statements, including Income Statements (Profit and Loss), Balance Sheets, and Trial Balances.
-
Audit Compliance: We prepare and provide reports and records as required for audit purposes, ensuring compliance with auditing standards and requirements.
-
Tax Services: Our services include tax computation and filing for individuals, partnership firms, limited companies, and more. We also review and file VAT returns and assist in responding to scrutiny or inquiries related to submitted tax returns.
-
Special Financial Reports: We generate specialized financial reports that support clients in various financial endeavors, including bank loan applications, mergers, acquisitions, new projects, and more.
-
Collaboration with Expert Agencies: In complex financial matters, we collaborate with expert agencies, such as those specializing in tax planning or pension planning, to provide the correct support and guidance.
-
MIS Reports: We offer Management Information System (MIS) reports, including:
​
i. Standard Accounting Reports: This includes Income Statements, Balance Sheets, and more.
ii. Reconciliation Reports: Bank, creditors, and debtors reconciliation reports.
iii. Investor and Banking Reports: Reports tailored for banks, investors, and other stakeholders.
iv. Custom Reports: We can create any additional reports as per specific client requirements.
​
Our Accounts Finalization services are designed to ensure the integrity and compliance of your financial records while providing valuable insights through MIS reports, ultimately supporting your financial decision-making and regulatory needs.
Additional Accounting Services
-
Forecasting and reviews
-
Invoice Processing - Including Rebates & Credit Memo
-
Chargebacks
-
Building payment - Forecast
-
Management accounts
-
Business and strategic planning
-
Company incorporation
-
Finance applications
Support Services
Our support services encompass a wide array of essential functions to assist your business operations, including:
​​
-
Data Entry and Management: We provide data feeding and management services, ensuring accuracy and efficiency in handling various types of data.
​
-
Report Generation: We excel in creating compelling reports tailored for presentation purposes, ideal for sales pitches and other professional presentations.
​
-
Debt Collection: Our services extend to debt collection, assisting you in recovering outstanding payments and maintaining healthy cash flow.
​​
-
Insurance Renewals: We facilitate the timely renewal of insurance policies, ensuring your coverage remains up-to-date and in compliance with your needs.
​
-
Market Research: Our expertise in market research allows you to gain valuable insights into market trends, competition, and customer preferences, aiding informed business decisions.
​​
With our versatile support services, you can enhance your operational efficiency, financial health, and decision-making capabilities.