Entity Management Services-SimplyFact
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 functions. SimplyFACT 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.
The Broad Scope of work Covers:
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):
1. Creation and Maintenance of Chart of Accounts.
2. Fixed Asset Register.
3. Users & Roles.
1. Recording/Processing Invoices, Expenses, Journal Entries, Accruals.
2. Recording Opening and Closing Entries.
3. Tax Accounting.
4. Fixed Assets Accounting
1. Bank Reconciliation.
2. Statutory Reconciliations.
3. Pre-agreed MIS Reporting.
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 :
1. Establishing Credit Practices
2. Vendor Master Management
3. Client Master Management
1. Estimates/Quotes
2. Processing Purchase/Sale orders
3. Invoicing
4. Debit/Credit Notes
1. AP/AR Reconciliations
3. Planning and Analysis Process
The process we follow
Reports
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
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
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
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
Work process we follow?
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.
E. Management Accounting
Payments & Plans
PLAN A
Accounting + Tax Filings
PLAN B
Basic Plan + Management Accounting
PLAN C
Executive Plan + Payroll + Simply Corp
PLAN D
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.
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.
3. Complete transparency on the execution & delivery model
4. Well-defined Working matrix
Our Mission
100+
Existing clients
30+
Team of Professionals
30+
Industries
300+
Collective Team experience of
Advantages of SimplyFACT - Entity Management Services
Diligence Ready
approach
Quality assurance
with committed TAT
Client-centric
approach
Single service provider
covering the entire gamut of activities
End to End
solution
Diligence Ready
approach
Quality assurance
with committed TAT
Client-centric
approach
Single service provider
covering the entire gamut of activities
Committed and
agile team
Technology driven for better execution & delivery
Client dashboard for bird’s eye view on Financial Information
Data security and cloud-based repository
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:
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
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