Accountancy and Business Advisory Services
SMSCO acknowledges that Quality bookkeeping is vital to every organization. We, therefore, make it our mission to ensure that as an outsourcing partner, the financial transactions and records of the company are kept up-to-date and accurate. We help reduce costs of routine clerical or accounting processes, allowing clients the time and resources to focus on growing and developing the business.
We not only advise on how best to comply with regulations, we also help our clients appreciate the consequences of non-compliance and deliver day-to-day outsourced finance activities to ensure they remain compliant.
The processes we go through in every engagement we undertake are:
- Complete understanding of business and an analysis of existing accounting workflows and processes;
- Designing an outsourcing solution that answers needs and achieves desired objectives;
- Ensuring a smooth transition phase; and
- Running a steady operation that takes Finance & Accounting function a step forward and aims for continuous performance improvement.
We offer a full range of finance and accounting support services across the entire finance value chain which includes but not limited to:
- Setting up the accounting system QuickBooks, Tally, SAP and Xero etc.;
- Creation of charts of accounts in line with the client’s reporting requirements;
- Preparation of annual and periodic financial statements in accordance with IFRS and local laws or any other applicable reporting framework within Pakistan;
- Designing and establishing a reporting mechanism for management purposes;
- Accounts receivable and payable management;
- Analyzing and processing the expenses incurred by the entity/employee on a monthly/quarterly/yearly basis and preparing a cumulative report; and
- Audit assistance to support accounts team to meet auditor’s expectations.