Instructions issued by the auditor for the Physical stock verification and inventory verification

Auditing is a regular activity that is conducted by the auditors for a company, organization or business. Auditing helps the company in certain ways. With the help of auditing a company can analyze their flaws in the daily operation and can correct them for the future growth. Auditing can be done of processes, products, quality, and inventory and for many other components in a company. 

Auditing can be of two types and that are the internal audit and external audit. Internal audit is conducted by the in-house auditors whereas external audit is conducted by the external auditors. There is some of the instruction that is issued to the company by the auditors for the physical stock verification or inventory verification. Some of these guidelines are discussed below that can help a company or business:

• The list of the physical stocks or inventory is to be provided according to the item and location. 

• The purchases that are not recognized should be always marked separately. 

• The stock that is being sold but not delivered to the customer should be kept separate and marked properly. 

• The stocks and inventory that is being used regularly should be issued in advance so that there will be no hamper in the production line. 

• Old stocks should be market separate.

• The list of the inventory should be maintained properly and accurately. 

These are some of the common instruction given. For more details on physical stock verification and inventory verification, call us at +91-11- 66797769 or e-mail at info@boundlessindia.com or visit us at http://www.boundlessindia.com.

Benefits of Hiring a service tax consultant in Delhi

Service tax compliances are of much importance to any organization, business or company. Service tax compliance filing needs time and knowledge and one can apply to him if they have all those spare time. But most of the people rely on the service tax consultants to get their filing procedures done smoothly and efficiently. If you are looking someone for service tax compliances, then there are many benefits that a service tax consultant in Delhi can provide you with.

Expertise in the Service tax filing

There is a huge difference between an amateur filing for your service tax forms and an expert working over the same. With the help of an expert, you can be assured that there will be no mistakes in your form filing and can rely upon them completely. The expert of service tax compliances know about their work and can get your procedure done successfully in a very minimal time.

Help with the complicated details

These expert service tax consultants in Delhi can handle all of your complicated details. They help their clients with the examination of all of the data, organizing it and then prepare for the form. Only an experienced and skilled service tax consultants are able to handle such complicated tasks, so always choose the best and experienced consultants.

They save a lot of time

These tasks are their regular work and they are expert in it. So they tend to make no mistake which saves a lot of time.

For more details on service tax compliances and service tax consultants in Delhi, call us at +91-11- 66797769 or e-mail at info@boundlessindia.com or visit us at http://www.boundlessindia.com.

The benefits of Accounting Outsourcing Solutions in India

The Growth of a company totally depends on the financial transparency and expertise of the people handling the accounts of the company. With the help of transparent financial transaction a company not only ensures its growth but it also helps in the financial expansion and sustainability with the time. Most of the companies depends on in house individuals for bookkeeping. This not only costs the company more but also decrease the efficiency of work of the charted accountants because of huge responsibility for them.  They are not mere people that do the bookkeeping but they are the key to all of the financial advice needed for the growth.

The best way to consider for all of the financial solutions is Accounting Outsourcing Solutions. There are certain advantages of these outsourcing solutions and some of them are

1.  They have the team of Accountants, so when the time comes you could access them easily.

2. These firms are experienced in all type of financial needs like mergers and acquisitions, Financial transactions, Expansion, budgeting, Risk management etc. So you will get a one-stop solution for all.

3.  They are ready to help you at every moment when you needed them the most.

4. Accounting Outsourcing Solutions not only provide you with advice but also helps in reducing the cost to the company.

5.   They are credible and has a huge track record of positive reviews from their clients.

For more on Accounting Outsourcing solutions, call us at +91-11- 66797769 or e-mail at info@boundlessindia.com or visit us at http://www.boundlessindia.com.

How to choose the Corporate Advisory services?

Corporate Advisors are those professional consultants that provide their clients with consultancy for the governance of the corporate identity. These Corporate Advisory Firms helps their clients in a wide array, that ranges from Financial Advice to Risk Management services. If you are having a corporate company in India then these advisory firms can be of great use to you. 

Let's have a look at the services provided by them.

1. Risk Advisory Services 

2. Mergers and Acquisitions 

3. Strategic Advice 

4. Financial Restructuring 

5. Debt Management 

6. And on all of the Financial Governance matters.

Choosing a corporate advisory service is not as easy as it sounds because all of your financial strategies are biased with the consultancy that these Financial Advisors provides to you. If you keep some of these below-mentioned points in mind then it will not serve as a daunting task to you.

1. Experience: Experience always matters while choosing Corporate Advisory services. Always choose the one with a history of good records. You should check whether the Corporate Advisory firm has a relevant experience? 

2. Credibility: It is very important that these advisors are credible, experienced and well qualified. Always read the reviews about them by their clients while opting for the one for yourself. 

3. Confidentiality: These Corporate Advisory firms need to preserve the confidentiality of their clients at every moment of time. All of the processes need to be conducted confidentially. So always sign an agreement of Confidentiality. 

For more on Corporate or Risk advisory services, call us at +91-11- 66797769 or e-mail at info@boundlessindia.com or visit us at http://www.boundlessindia.com.

Accounts Payable Processing: An understanding

Accounts payable, also known as trade payables or may be simply as payable are basically the payment due to one’s suppliers. This is a book item that features under liabilities in the Balance Sheet. One needs to keep a track of these accounts payables and at the time of accounts payable processing, carefully update the accounts and clear the amount from the payables. Since it is sometimes not conducive to maintain records of the deals done on credit or on delayed payments, these are entered in account books as payables while in the lender’s books as account receivables or receivables in their assets. The same are carried forward to the next year books of accounts until these are settled.

Accounts Payable Outsourcing is an arrangement when you hire professional services from experts to take care of your accounts payable entirely. This includes, document maintenance, account payable processing which includes invoices management, approval of invoices, resolution of issues and fallacies, disbursement of the payments etc. All this is very conveniently done by professional organizations and is a big industry today.

If you ever want to outsource accounts payable services you can contact one of these professional organizations and just sit back and relax for a convenient handling of the payments on your behalf. There is no harm in getting things managed from outside which actually has proved to be beneficial on account of cost saving, accuracy and smooth handling. One can easily rely on these companies and be free of the hassle of maintaining hefty records of payables.

For more on accounts payable, call us at +91-11- 66797769 or e-mail at info@boundlessindia.com or visit us at http://www.boundlessindia.com.

Implementing ISO 14001 & ISO 27001

What is ISO 14001?

It is the international set practice or standard about maintaining your business operations with an efficient use of your resources. In simpler terms, the practice is set to ensure that there is least wastage of resources and there are more economies of scale generated for your profitable and viable operations. The ISO 14001 implementation does not require any much support other than a checklist which can be obtained from third party accreditors. Once this is done, you may apply it in your organization at appropriate checkpoints and reap the benefits.

There is more to efficient usage than what meets the eye. Lesser wastage would lead to competitive advantages which would mean your business would be able to sustain for longer, there is more resistance to competition and there is more to trust built in the stakeholders.

What is ISO 27001?

ISO 27001 is the International standard set for better management of information; it deals mainly with information security. It is imperative today for organizations to have all their proprietary information safeguarded to avoid any kind of mishap like data theft to happen.

It is again not obligatory to get ISO 27001 certification prior to implementation. However there is no hazard in getting your business attuned to best practices which have proven results.

Both these certifications are suited to all organizations irrespective of their operational size. There is a global acceptance to this standard which is also a kind of reassurance to their clients that the information has been properly secured and safeguarded.

Much need implementation support on these certifications can be availed through specialized consultancies.

For more on inventory management, call us at +91-11-66797769 or e-mail at info@boundlessindia.comor visit us at http://www.boundlessindia.com.

Best Practices of Inventory Management

Boundless helps you in inventory management and have collated what is called best practices in it.

With these, you can grow your business by leaps and bounds and augment gains.

1. Having an intact inventory control system is best. Two commonly used systems are periodic and perpetual.  Periodic are the ones, which refurbishes ledger periodically i.e. weekly, monthly and quarterly. Perpetual systems are the ones, which updates inventory after each purchase, sale and adjustment. The more frequently it is updated, the easier it is for a business to plan.

2. Have Inventory categorisation. As 80-20 rule applies majorly to inventory, it is better to set priorities straight. (80% sales come from 20% of the products).

3. Have a proper inventory adjuring system. You should know what you need, how much you need and when you need it. This saves one from unwanted circumstances such as inflated inventory costs and longer lead times.

4. Imbrute the inventory system. This standardises the process, saves time and money, increases accuracy and simplifies documentation.

5. Forecast demand as sales may vary due to vicissitude in trends, seasons etc. Thus, demand forecast can help better plan inventory requirements to maintain levels.

6. Perform physical inventory counts. A rubric to control inventory and attune it to the amounts in periodic or perpetual system on the books, physical inventory is normally done once a year normally at the end of the fiscal year. Larger businesses and those preferring periodic or seasonal inventory counts, do it more frequently.

7. Make acclimation as required for goods unsold, obsolete, stolen, damaged or for goods whose market value is lower than the cost of the good.

For more on inventory, call us at +91-11-66797769 or e-mail at info@boundlessindia.com or visit us at http://www.boundlessindia.com.