Work Flow Process for Financial & Accounting Services

 

Aranis has the capability of taking up and managing various processes such as accounts receivable, accounts payable, etc. This is possible because of its offshore processing facility and its process driven service model.

 

The following are the accounting cycles being handled by Aranis

 

Bookkeeping and Account Management Process

 

• Preparation of Chart Of Accounts

• Receipt of Bank Statements from the client (scanned or email)

• Ledger Posting

• Bank Reconciliation

• Monitoring the liquidity

• Ledger scrutiny

• Month end closing and Reporting to client

• Financial Projections and Variance analysis

• Generation of customized report

 

Accounts Payable Service Process

 

Aranis take complete control of your accounts payable function and reduce your costs, speed month end close and ultimately increase your bottom line. Aranis fully integrated solution allows customers to outsource all or part of their accounts payable business functions.

 

Why you outsource AP? The competitive advantage.

 

How you will be benefited if you outsource AP? This is one of the questions which may arise when we think about outsourcing. The answer is very clear. The following points support the claim.

 

1) Cost savings: 40% - 50% annual A/P processing cost savings without additional capital investment

2) Centralization: Greater, centralized control over payables across the enterprise, irrespective of physical location.

3) Real Time Tracking: Tracking and reporting of all payables from the time they are received from the vendor through disbursement, for client employees and their vendors.

4) Vendor relations: Reporting of A/P matching exceptions by vendor and exception type for improved procurement and vendor relations.

5) Focus on core Business: Helps to focus on strategic, pertinent finance issues instead of non-value added activities such as A/P.

Work Flow

• Receipt of Scanned Invoices and AP related documents from client by Aranis

• Indexing the document as per document type by viewing the system

• AP entry by viewing the image.

• Quality Control & Exception Management.

• Approval by the client

• Authorization for Payment or otherwise by client

 

Accounts Receivable Service Process

 

Aranis offers an end-to-end solution designed to transform the operation of your Accounts Receivable process. From the available data through the posting of cash received, lets customers concentrate on their core business, secure in the knowledge that the Accounts Receivable process is professionally, accurately and securely performed.

 

Accounts Receivable function is vitally important to the cash flow of a business, and it does require an investment of time, talent, and resources in order for it to be effective. For some firms, a fully staffed in-house department is absolutely necessary. However, for a growing number of companies, outsourcing has become a valuable alternative.

Is your company facing cash flow problems? Do your clients pay you in time? Is your account receivable department is efficient or does it cost much for your company to maintain an accounts receivable department? If so outsourcing is the only way to over come all these difficulties. Having an account receivables outsourcing company take over your receivables will mean less waiting time for cash for your business, and more time spent on building and growing your company to its full potential.

 

Why you outsource AR? The competitive advantage. How you will be benefited if you outsource AR? This is one of the questions which may arise when we think about outsourcing. The answer is very clear, well look at the following points.

 

Like the many companies that have taken advantage of account receivables outsourcing, your company can also benefit from the numerous advantages that it offers. First of all, when you turn over your account receivables to an outsourcing company, you eliminate the need for your company to have an account receivables department within your own doors.

 

By freeing up the space and money it takes to operate an account receivables department, you can invest that time, space and money into bettering other departments in your company. In addition account receivables outsourcing is a great benefit to new companies that don't have adequate financing through a bank line of credit or other means. By selling your account receivables to an outsourcing company like us, you can have access to immediate cash, and that is vital to the growth and well being of any business.

 

Waiting for your business's invoices to be paid can mean waiting on money for 30-90 days; money that is required to pay employees, order supplies and invest in company growth. AP Outsourcing can be done for a nominal fee, or on a flat rate and other times a percentage of the invoices, in return for access to immediate cash.

 

Work Flow

• Receipt of Scanned billing information from the client and making AR entry by viewing the image

• Quality Control and billing report to client

• Approval or otherwise by client

• Printing of sales invoice

• Cash application to appropriate invoice

• Quality Control and report to client

 

AP Related Cash Management services

 

• Generation of Cash requirement report

• Printing of Checks

• Maintenance of record of payment approval

• Quality Control

 

AR related Cash Management services

 

• Deposit of check in Bank

• Cash entry

• Quality Control

Payroll process

 

• Receipt of timesheet from client

• Payroll Accounting

• Payroll reconciliation.

 

Accounting Software Used

 

• Customized Package in Excel for Small Entrepreneurs

• Quick Books (both Online and Offline) 2003,2004,2005,2006

• Peach tree

• Yardy

• Lacerte

• SAGE