Why P A A C?

Brief of Bookkeeping Services by PAAC

PAAC Accounting Team will setup the Accounting Function of the company which may vary depending upon the scope of work, requirements of the client and nature of business. Following is list of functions, but this list isn’t exhaustive:

  • Chart of accounts Creation
  • Designing of Sales Order and Invoice
  • Purchase Order
  • Stock Management
  • Good Receive Note (GRN)/ Goods Dispatch Note (GPN)
  • General Ledger
  • Nominal Ledgers
  • Trade Receivables
  • Trade Payables
  • Pay Roll
  • PDC Management
  • Non-Current Assets
  • Trial Balance
  • Income Statement
  • Statement of Financial Position
  • Cash flow Statement
  • Budgeting

Supervision Of Accounting Function

PAAC understands that every Business should always have the financial information readily available in order to assess the business performance as well to use the related financial information for future decision making.

Our team is well qualified to prepare timely MIS reports in a efficient and effective manner which enables businesses to take right decisions in time. We have proven expertise to prepare and submit following type of reports to the management periodically (monthly / quarterly / half yearly / yearly):

  • Income Statement
  • Statement Of Financial Position
  • Cash Flow Statement
  • Trial Balance
  • Ratio Analysis
  • Sales Register
  • Purchase Register
  • Debtors ageing
  • Bank Reconciliation
  • Stock statement, movement analysis & profitability reports
  • Other reports helpful in decision making

OUR WORK METHODOLOGY

  1. Business and process understanding:
    a) As a first step, we conduct a system study in order to understand nature of business and existing Standard Operating Procedures(SOPs). This helps us to recommend or opt for customised solutions to keep the business steering in right direction.
  2.  Allocation of staff and establishment of communication:
    b) Allocation of staff as per engagement requirements to work closely with management and establish and maintain flow of communications.
  3.  Reporting:
    c) Preparation and submission of reports to the management within engagement timelines.