Accounting & Business Support

It is difficult to make sound business decisions in today's global economy without having timely, reliable and meaningful financial data. RNCA can boost business success by making accounting systems work harder for management on a daily basis..

Quite a large number of businesses may not have access to the service of book keeping, whether it is due to shortage of resources or any other reason. Accounting records and book keeping are vital issues for all types of businesses to enable its owners, directors or management to be aware of all transactions conducted by the business and to be able to measure the degree of success of the business as a whole or of a particular aspect of it. In addition, maintaining adequate accounting records is essential for tax purposes.RNCA provide outsourced employment services, including payroll, to clients. It seeks to ensure employers are ahead of the potential minefield of statutory requirements around the world and its employment experts are backed by tax and accounting specialists covering a wide range of employment issues.

Our Accounting and Business Support services include:

  • Accounting Services including management accounting
  • Review of Accounting Systems
  • Accounts / System Manual
  • Back office operations including Payroll/ HR Processing
  • Transaction Processing Orders/ Claims Processing
  • Standard Operating Processes
  • XBRL Support

Outsourced CFO:

We help small companies grow and improve profitability by becoming their Outsourced CFO. We do this by providing the following services:

  • Complete Financial Outsourcing for Indian Small and Medium Enterprises
  • Complete Financial Outsourcing for foreign Companies setting up in India
  • Process Outsourcing
  • Payroll Outsourcing
  • Cash flow forecasts
  • Set up of accounting systems and chart of accounts
  • Mentoring of accounting staff
  • Establishment of banking relationships

Advantages of appointing an outsourced CFO:

Every business needs financial consulting, but not every business can afford a full-time CFO. That is why, these days, many small and even some medium-sized businesses are turning to professional outsourced CFO services. The job of the outsourced CFO (also known as a virtual CFO) entails a range of business financial services, from auditing the expenses of various departments to choosing the best accounting software for the company. They are also highly valued for special circumstances, like getting a company through a cash flow crunch or helping to secure a certain loan.

  • Cost Reduction: One thing a virtual CFO could tell you right off the bat is that they are already saving you money. Besides the high salary a typical CFO would generally get for compensation, it is simply more efficient to receive services without adding personnel and technological resources.
  • Allows Better Focus: It is very important for businesses, especially small businesses, to pay attention to their core competency. There is little more detrimental to a new company than trying to overreach beyond the bounds of what they know.
  • Larger Pool of Experts: Enlarging your pool of experts helps companies, across the board. Many larger businesses have the capacity to employ a large number of accountants, but accounting firms are still often preferred means of managing finances.
  • Large Projects: One of the chief reasons that medium sized businesses outsource a CFO for a relatively short interval of time is to help them through either a tough financial time, a major change in law, or obtaining a large loan or grant. Also, a virtual CFO finds that mergers, acquisitions, and business closings are prime times when a company needs the expert help of someone who has been through such a situation before.
  • Overall Efficiency: An outsourced CFO services company is generally going to be far more efficient when it comes to meeting the deadlines and other requirements of a variety of projects. They have experience with nearly any situation, and you never have to wait for the learning period to end before they can move ahead with any particular service.

Letting You Get Back To Business

The real benefits of outsourcing CFO services revolve around letting companies compete only in the areas in which they are experienced. Even the best and the brightest know that they cannot handle everything, and it is always important to have people with experience. That is what you gain from outsourced CFO services; years of combined and varied experiences, at a fraction of the cost.

Very importantly, outsourcing CFO services allows you and your employees to focus on what you do best, which are why you started the business in the first place. If you have been struggling to run your own accounting department in-house, there is too much work to handle, or your area of expertise does not lie in CFO services, outsourcing CFO services can greatly benefit you and the business.