Entity Management Services-SimplyFact

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SimplyFACT

Entity Management Services covering Accounting, Compliance, Taxation, and Payroll

SimplyFACT is a one-stop shop solution specifically designed for early-stage and growth-stage companies (Primarily in Technology, Tech-enabled and Service sectors) to manage their Finance, Accounting, Compliance, Tax, and Payroll functions, including reporting to Management and Investors on a subscription model.

SimplyFACT allows business owners to focus on their core Business activities while we take care of Accounting and Statutory needs of a businesses. We facilitate our clients to stay compliant and meet statutory deadlines. We also help entities in taking appropriate financial decisions with our MIS reports.

Why SimplyFACT?​

Small & Medium Business owners look for a single service provider to handle all their Finance & Compliance functionsSimplyFACT offering its various services under one umbrella addresses all such needs. We are not only your Trusted Partner but also your extended arm. We ensure clear and transparent processes for recording the financial transactions of your company and ensure reporting is accurate and the compliances under the specified laws meet the regulatory requirements.

The advisory & execution support followed by the Deliverables from SimplyFACT (like Financial Statements, MIS reports, Analytical Reports, Tax computations) allows business owners to have a realistic assessment of their current standing and help them navigate their financial goals and stay compliant.

What does SimplyFACT offer ?

Virtual Bookkeeping and Accounting

Taxation

Payroll

Compliance

Management Accounting

What does Corporate Secretarial Compliance Encompass?

Entities incorporated in a particular jurisdiction are governed by the rules and regulations prevailing there. Companies incorporated in India are governed by provisions of the Companies Act which is vast and complex.

Companies that have received Foreign Direct Investment (FDI) in India are also required to comply with the Foreign Exchange Management Act, 1999 (FEMA) and the regulations framed thereunder.

Our Corporate Secretarial Compliance offering for Private Limited Companies primarily covers Compliance with the provisions of the Companies Act & FEMA Regulations relating to FDI but we are also well versed with the other acts.

What does SimplyFACT offer?
SimplyFACT provides Entity Management Services covering Accounting, Compliance, Taxation, and Payroll

The Broad Scope of work Covers:

Virtual Bookkeeping and Accounting
Taxation Services
Payroll Services
Compliance Services
Management Accounting

A. Virtual Bookkeeping and Accounting

Accounting plays a vital role in the business as it helps you to track income, expenditure, ensure statutory compliance and provide investors, management and government with quantitative financial information which can be used in appropriate business decisions.

By outsourcing your Bookkeeping and Accounting to us, you can enjoy all the benefits of having a full time experienced and professional team engaged on your work with financial savings of upto 40% when compared to the traditional way of in-house accounting.

What we offer under Virtual Bookkeeping and Accounting

1. Record to Report Process(R2R):

Master Data Management

1. Creation and Maintenance of Chart of Accounts.

2. Fixed Asset Register.

3. Users & Roles.

Transaction Processing

1.  Recording/Processing Invoices, Expenses, Journal Entries, Accruals.

2. Recording Opening and Closing Entries.

3. Tax Accounting.

4. Fixed Assets Accounting

Reconciliation & Reporting

1. Bank Reconciliation.

2. Statutory Reconciliations.

3. Pre-agreed MIS Reporting.

Financial Statements

1. Preparation of Financial Statements as per applicable statute.

2. Coordinating with Statutory Auditors.

3. Assisting in External reporting.

2. Accounts Payable (AP)/ Accounts Receivable (AR) Process :

Master Data Management

1. Establishing Credit Practices

2. Vendor Master Management

3. Client Master Management

Transaction Processing

1.  Estimates/Quotes

2. Processing Purchase/Sale orders

3. Invoicing

4. Debit/Credit Notes

Reconciliation & Reporting

1. AP/AR Reconciliations

3. Planning and Analysis Process

Capital Budgeting and Equipment Replacement Planning
Financial Budgeting and Forecasting
Cash flow and revenue management
Variance analysis
Management Accounting

The process we follow

1
Data or work brief collected from client
2
Data storage & management
3
Review the Data shared by Client
4
Clarifications required sent back to client
5
Process data on the Client’s suggested software (Zoho/Tally)
6
Final draft reports for client’s review and Finalization

Reports

Financial Statements/Final Accounts
Tax Computations & Tax Returns
MIS reports
Adhoc Analysis Reports
Click to Zoom
Above is our generic work process model, we have a flexibility to modify our process model to suit our client’s requirement and set up.

Accounting Packages we use:

B. Taxation Services

Over the last 5 years, Indian Taxation system has undergone tremendous reforms. The risk of non-compliance with changing Tax laws can have a significant adverse impact on the small and medium businesses. With our expert knowledge and thorough understanding of tax credits and deductibles, we can help our clients compliant in all aspects and minimize the tax liability as per the applicable statutes.

What we offer under Taxation Services

Income Tax

1. Assistance in quarter-wise advance tax computations and payments

2. Assisting and filing Income Tax Returns

3. Tax Audits

4. Advisory in regard to taxation issues

TDS/TCS

1.  TDS/TCS computation

2. Regular and Correction Return filings

3. Issue of TDS certificates

4. Periodic review of TDS compliances

5. Monthly reconciliation of TDS due and deposited

6. Advisory in regard to TDS under GST

Goods and Service Tax (GST)

1.  Registration under GST

2. Monthly Compliances and Returns filings

3. Annual Compliances and Return filings

4. GST Reconciliations for maximum utilization of Input Tax Credits

5. Assisting in GST Refunds

6. GST Audit

7. Responses to Notices and Appeals

C. Payroll Services

Payroll is an essential function of every business. Payroll can be complicated and most businesses lack time and resources to do it properly.

We make sure your employees are paid accurately on time and in compliance with applicable regulations by automating payroll to the extent possible. With the systems we place we monitor your employees time off, run scheduled payroll in par to the handbook. We also help our clients in filing taxes and issue certificates and documents required.

What we offer under Payroll services

1
Payroll Processing
2
Compliance Management
3
Tax filings
4
Issue of Post Payroll certificates and documents
Payroll Processing
Compliance Management
Tax filings
Issue of Post Payroll certificates and documents

Work process we follow?

1
We collect basic information from our clients like employee’s date of joining, designation, pay details
2
We automate attendance/working hours’ calculations where we get details of no of eligible pay days every month
3
We calculate every employee pay and deductions in time as per handbook and leave policies
4
We send the calculations for review and freeze numbers after getting approvals from client and will issue payslips electronically every month

D. Compliance Services

Under Compliance, we mainly cover compliances under Companies Act & Foreign Exchange Regulations. The compliance under the Tax laws & the Establishment & Employment related laws are covered under the respective service heads.

Advisory & Guidance
Board Management
Shareholder Management
Investor Management
Compliance and Reporting to regulators
Parent company Reporting

E. Management Accounting

Budgeting & Forecasting
Financial Planning and Analysis
Cost Benefit Analysis
Parent Company Reporting
MIS Reporting
KPI Analysis

Payments & Plans

Step 1
Choose your plan
Step 2
Fill the enquiry form
Step 3
Payment
Step 4
Kick Start

PLAN A

Basic Plan:

Accounting + Tax Filings

PLAN B

Executive Plan:

Basic Plan + Management Accounting

PLAN C

Entity Management:

Executive Plan + Payroll + Simply Corp

PLAN D

On Demand Accounting/Year End Accounting
In case you are facing any difficulty in choosing the plan or want to know more on the scope of work, please write to our Product Head – M Pavan Kumar at the mail ID pavan@simplybiz.in or Simplyfact@simplyBiz.in

Engagement Model of SimplyFACT

We operate on a Subscription Model

1. Annual contract
with a pre-defined
scope of work.

2. Fixed commercials payable either monthly/quarterly payment cycle.

Engagement Model of SimplyCorp

3. Complete transparency on the execution & delivery model

4. Well-defined Working matrix

1. Annual contract
with a pre-defined
scope of work.

2. Fixed commercials payable either monthly/quarterly payment cycle.

Engagement Model of SimplyCorp

3. Complete transparency on the execution & delivery model

4. Well-defined Working matrix

Our Mission

Your quintessential partner to set up and scale your business in India with ease

100+

Existing clients

30+

Team of Professionals

30+

Industries

300+

Collective Team experience of

Advantages of SimplyFACT - Entity Management Services

Management of Compliances
Diligence Ready
approach
Quality assurance
Quality assurance
with committed TAT
Management of Compliances
Client-centric
approach
Single service provider
covering the entire gamut of activities
Entity set up
End to End
solution
Management of Compliances
Diligence Ready
approach
Client Dashboard
Quality assurance
with committed TAT
Quality assurance
Client-centric
approach
Quality assurance
Single service provider
covering the entire gamut of activities
Committed and
agile team
Entity set up
Technology driven for better execution & delivery
Client Dashboard
Client dashboard for bird’s eye view on Financial Information
Cloud-based repository
Data security and cloud-based repository

About
SimplyFACT
Team

Notepad

SimplyFACT has a well experienced team of professionals comprising of Chartered Accountants, Company Secretaries, Lawyers and Management graduates having deep knowledge and competency. The collective team experience is over 300+ years.

Our team not only manages your end-end accounting, tax & compliance functions but also keeps you updated on the various amendments and changes that are announced by the regulator from time to time which have an implication on your business. With our support, you are well equipped to handle tax planning, tax return preparation and, ultimately, tax cash flows. Our services help in reducing the risk and achiever better control on your accounting, tax and compliance functions thorough improved and more efficient processes.

For any enquiry, write to our Product Head:

Mr Shiva Shankar

E-mail ID – shiva@simplybiz.in or Simplyfact@simplyBiz.in

About SimplyFACT
Team

SimplyFACT has a well experienced team of professionals comprising of Chartered Accountants, Company Secretaries, Lawyers and Management graduates having deep knowledge and competency. The collective team experience is over 300+ years.

Our team not only manages your end-end accounting, tax & compliance functions but also keeps you updated on the various amendments and changes that are announced by the regulator from time to time which have an implication on your business. With our support, you are well equipped to handle tax planning, tax return preparation and, ultimately, tax cash flows. Our services help in reducing the risk and achiever better control on your accounting, tax and compliance functions thorough improved and more efficient processes.

For any enquiry, write to our Product Head:
M Pavan Kumar
E-mail ID – pavan@simplybiz.in or SimplyFacr@simplyBiz.in