Ledger Management and Reconciliation

Ledger scrutiny is essential primarily for Accounts payable and receivables. Apart from Debtors and Creditors, the scrutiny of the General ledger has its importance. 

General Ledger

Every organization has peculiarities and types of accounts. There are various transactions and entries in books of accounts which if not scrutinized at regular intervals, may adversely affect profitability, VAT, GST, foreign laws, Import laws, income tax, etc. 

Apart from the legal angle, the transaction of capital and revenue nature has to be accounted for as per applicable accounting guidelines.

We at Sarvam Professionals, scrutinize transactions every month and suggestions if any are informed to the concerned for correction and future guidance. These may also be incorporated in MIS and SOP.

We have experts who can oversee ledger scrutiny and recommend guidelines for Tax planning purposes.

Accounts Payable

Accounts Payable Management helps in managing the payment obligations of the entity in the most effective manner. It is a term used to refer to a list of a company’s liabilities owed due to purchasing of products and services. Only Short-term debts are referred to as accounts payable. The basic accounts payable process includes three documents in general – the Purchase Order (PO), goods receipt and vendor invoice.

AP management is an important tool for the proper functioning of the business as supported below:

• It helps in paying the company’s bills on time which improves the credibility of the company.
• It helps in achieving trade discounts if payment is done on time.
• It helps in maintaining cash flow management.

At Sarvam Professionals, we use industry best practices, an efficient team and standard quality. We make sure that information is being processed on time to ensure timely and informed management decisions.

Account Receivable

The practice of conducting business on credit terms organizes Account Receivables (AR) in the financial statements. Conducting business on credit terms means providing time to the customers for the payment for goods and services.

Accounts receivable impact the working capital of the entity. If not monitored 

effectively, it can debilitate the company’s finances.

Effective AR Management provides the following benefits:

• It expedites the access of payments in the organization, which will generate and impact the cash flow of the business.
• It enhances the collection rates and ensures faster processing of invoices which will lead to an increase in cash flows.
• Helps in the reduction of slow-moving debts and bad debts.
• A positive and effective working capital boosts a company’s professional image. 

We provide a wide range of services to our clients. (Framing of credit policy as per market and industry practice, Ageing report, billing and accounting for revenue, preparing periodic statements, issuing of credit memos, etc.) with an option to outsource all or part of their AR functions.