- Implementing accounting software that is specifically designed for the IT industry, such as QuickBooks for technology companies or Xero for software development firms, Netsuite and Zoho.
- Tracking of revenue generated from different modules and computation of deferred/accrued revenue.
- Analysing the reports from SaaS modules and providing meaningful insights on the subscription pattern, invoicing and collection aspects.
- Providing financial reporting and analysis for IT consulting firms to monitor project profitability and identify areas for cost savings.
- Developing financial models to forecast revenue and expenses for SaaS (Software as a Service) companies, which typically have recurring revenue streams.
- Assisting in con regular financial audits to ensure compliance with data privacy regulations, such as the GDPR (General Data Protection Regulation) in the European Union.
- Assisting with transfer pricing strategies for multinational IT companies to ensure compliance with tax laws and minimize tax liabilities.
- Automation of SaaS networks to accounting module for free flow of data.
IT/ITES
E-Commerce
- E-Commerce is becoming more and more regulated and hence there is a need for detailed bookkeeping along with maintenance of more details than ever before. FinAdvantage comes with relevant experience and can bring in a lot of
value add to cope with ever-changing regulatory requirements. - Assisting with managing payment gateway integrations and reconciling payment processor accounts to ensure accurate reporting of sales revenue.
- Performing vendor and customer reconciliations and managing the payment aspect to assist the cash flow management.
- Performing reconciliation on discount vouchers, coupon codes, etc to determine the correct receivable/payable.
- Developing fraud prevention strategies, including monitoring of chargebacks and fraudulent orders, and implementing fraud detection tools such as fraud scorecards and IP address verification.
- Providing regular financial reporting to monitor performance at product category-wise, market-wise, etc.
- Assisting with international expansion by managing currency exchange rate risks, compliance with local tax laws, and setting up international payment processing solutions.
Hospitality
- Implementing hospitality-specific accounting software to manage bookings, room rates, and revenue recognition.
- Developing financial models to forecast revenue and expenses for hotels and restaurants, which typically have seasonal demand patterns.
- Providing regular financial reporting to monitor labor costs, inventory management, and cash flow.
- Conducting regular financial reviews to ensure compliance with regulatory requirements and internal controls, including tax laws and food safety regulations.
- Assisting with managing payroll and compliance with wage and hour laws for hourly and tipped employees.
- Providing analysis of key performance indicators (KPIs) for the hospitality sector, such as revenue per available room (RevPAR) and food and beverage cost percentage.
- Assisting with vendor reconciliations (including Hotels).
- Assisting with customer reconciliations for B2B category customers.
- Providing tax planning and compliance services, including identifying available tax credits and deductions specific to the hospitality industry.
D2C
- Implementing accounting software that is specifically designed for D2C businesses, such as QuickBooks, Xero, or Shopify’s accounting software.
- Developing financial models to forecast revenue and expenses for D2C companies, which typically have unique revenue streams such as subscription services or one-time product sales.
- Providing regular financial reporting to monitor customer acquisition costs, lifetime value, and other KPIs specific to the D2C industry.
- Conducting regular financial reviews to ensure compliance with tax laws and regulations, including sales tax requirements for online sales in various jurisdictions.
- Assisting with managing payment gateway integrations and reconciling payment processor accounts to ensure accurate reporting of sales revenue.
- Developing fraud prevention strategies, including monitoring of chargebacks and fraudulent orders, and implementing fraud detection tools such as fraud scorecards and IP address verification.
- Providing analysis of marketing expenses and ROI, including analyzing the effectiveness of various marketing channels and campaigns.
- Implementation of regular monitoring of inventory management and identifying slow-moving and non-moving products.
- Assisting with international expansion by managing currency exchange rate risks, compliance with local tax laws, and setting up international payment processing solutions.
Manufacturing and Engineering
- Implementing and operating accounting softwares that are specifically designed for manufacturing businesses, such as NetSuite, Microsoft Dynamics 365, Sage, etc.
- Developing cost structures to identify the standard costing per unit of product manufactured.
- Developing financial models to forecast revenue and expenses for manufacturing companies, which typically have complex inventory management and cost accounting needs.
- Providing regular financial reporting to monitor inventory levels, production costs, and product margins.
- Conducting regular financial reviews to ensure compliance with regulatory requirements and internal controls, including tax laws and environmental regulations.
- Assisting with managing payroll and compliance with wage and hour laws for manufacturing employees, including tracking time and attendance and managing overtime.
- Providing analysis of key performance indicators (KPIs) for the manufacturing sector, such as production efficiency, capacity utilization, and inventory turnover.
- Gross profit analysis and highlighting the areas of cost savings across the industry with benchmarking to the best practices.
- Providing tax planning and compliance services, including identifying available tax credits and deductions specific to the manufacturing industry.
ESG
- Implementing accounting software that is specifically designed for ESG businesses, such as MSCI ESG Manager or Sustainalytics.
- Developing financial models to forecast revenue and expenses for ESG companies, which may have unique revenue streams or costs associated with sustainability and social impact initiatives.
- Providing regular financial reporting to monitor ESG-related expenses and revenue, as well as key performance indicators such as carbon footprint or social impact metrics.
- Conducting regular financial reviews to ensure compliance with sustainability reporting requirements, such as those set by the Global Reporting Initiative (GRI) or the Sustainability Accounting Standards Board (SASB).
- Assisting with managing payroll and compliance with wage and hour laws for employees engaged in sustainability or social impact activities.
- Providing analysis of ESG-related risks and opportunities, including identifying potential cost savings from sustainability initiatives or revenue growth from socially responsible products or services.
- Providing tax planning and compliance services, including identifying available tax credits and deductions specific to the ESG industry, such as those related to renewable energy or energy efficiency.
Fund Accounting
- Implementing fund accounting software such as Advent Geneva or SS&C Eze that is specifically designed for investment funds.
- Maintenance of fund accounting books and records.
- Providing high end and specialized fund accounting services and Financial statement preparation under various GAAPs.
- Preparation of monthly and yearly financial statements.
- Preparation and analysis of monthly gains/losses reports.
- Preparation of Investor reports, statements and capital reports.
- Providing regular financial reporting to monitor fund performance, including net asset value (NAV), return on investment, and fee income.
- Assisting with managing investor accounts and compliance with investor reporting requirements, including tracking capital contributions and redemptions.
- Providing analysis of key performance indicators (KPIs) for investment funds, such as expense ratios, portfolio turnover, and asset allocation.
FinTech
- Implementing accounting software that is specifically designed for fintech businesses, such as Xero or QuickBooks, Zoho, Netsuite, etc.
- Providing regular financial reporting to monitor key performance indicators, such as customer acquisition costs, customer lifetime value, and transaction volume.
- Automation of processes like forecasting, invoicing, cash flow reporting and reconciliation thereby reducing manual efforts.
- Assistance in conducting regular financial audits to ensure compliance with regulatory requirements, including financial reporting requirements and anti-money laundering laws.
- Assisting with managing payroll and compliance with wage and hour laws for employees in the fintech industry, including tracking time and attendance and managing overtime.
- Providing analysis of key financial metrics, such as burn rate, runway, and cash flow management.
- Developing the Financials models and Cash flow analysis to determine the next funding requirement.
- Providing tax planning and compliance services, including identifying available tax credits and deductions specific to the fintech industry, such as those related to research and development or employee stock options.
