CUSTOMIZED REPORTING
At Excel we understand that timely availability of accurate information is essential for your day-to-day decision making. Our Bookkeeping and Accounting Service helps you get up-to-date information from your accounting software and also provide you with periodic reports.
We can setup daily, weekly, monthly and quarterly reports and ensure that these are delivered to your mailbox every morning so that you have a complete control on your business finances. We understand that each of our customer’s business is unique and every business has its own information requirement. We completely customize our reports for each of our customers.
Here is a snapshot of some of our standard reports:
Royalty & Monthly Quantity Sales
Frequency of Report: Monthly
Both these reports for Royalty and stock item quantity sold during the month are interlinked to each other. Accounting team calculates the number of items sold during the month on the basis of which Royalty payable is calculated on a fixed percentage.
Commissions Payable
Frequency of Report: Monthly
One of the the very critical and most important report is commission payable to various SAE’S on monthly basis. These are calculated on the amount of total sale by each SAE during the month at a fixed percentage. Actual the exact payable amounts are calculated on the amounts for which payments have been received during that particular month from previous sales.
AR Ageing
Frequency of Report: Weekly and Monthly
This report is prepared on weekly basis as debtors outstanding.
Current Customer Review
Frequency of Report: Monthly
Details of all the sales to various customers along with Sales Agents is calculated in Current customer review report. This is calculated as per customer wise sales during the year. This report gives a very clear picture of growth of sales to different customers from time to time & also tells us about sales during a month and sale for all the months in a year by different agents
Equipments
Frequency of Report: Monthly
During the month all fixed assets and equipments purchased are added to the equipments asset sheet. The monthly depreciation calculation is done on this basis.
Employee's 401K Accrual
Frequency of Report: Monthly
Employee’s 401K accrual amounts are calculated on monthly basis and base used for this report is the salaries paid by Client to employees.
Co-Operative Marketing Credit
Frequency of Report: Weekly / Monthly
Whenever any advertisement cost is incurred by customers for Client’s products in that case 50% of the same cost is incurred by clients. Basically Co-op credits are allowed to customers on their original first order called Opening stock order {OSO} & some % is fixed on post OSO orders. This is basically an amount which customer could avail as a benefit against advertising our item at their own cost & 50% of that is reimbursed by client to the customer. All stores are been given benefit of co-op marketing credits. A report on weekly / monthly basis is sent to the client mentioning the eligibility dates of all customers with balance entitled amounts.
Accruals
Frequency of Report: Monthly
All the expenses which are posted on accrual basis for which no bills are received as yet. Entries are done to give proper accounting affect.
P&L and Balance Sheet
Frequency of Report: Monthly
Profit & loss account, Balance Sheet and the cash flow on a monthly basis for each entity as well as the consolidated entity is done on monthly basis.
AP Ageing
Frequency of Report: Monthly
Frequency of Report: Weekly and Monthly
Vendor Reconciliation is done on weekly & Monthly basis likewise debtor reconciliation. Also AP bills outstanding report is sent to the Client by us with complete details of all bills with due date.
Inventory Valuation
Frequency of Report: Monthly
Inventory Valuation & Reconciliations are also done on monthly basis. Any difference between stock available in QB & physical stock at warehouse is verified. Accounting team receives the physical inventory sheet from Client & matches the same.
Bank Reconciliations
Frequency of Report: Monthly
Bank Reconciliations are done on the basis of statements received from client. All bank entries are checked in Quick books. The activity is done on Monthly basis and a scrutiny in bank accounts is done on daily basis.