Outsourcing Accounts Faridabad, Gurgaon, India New Delhi based

Finsys already has so many success stories in Accounting outsourcing, AR, AP, Audit, Taxation, GST, and turn key services

Outsourcing Book Keeping and Accounts in India – Faridabad, Gurgaon, NCR Delhi, anywhere in India


you have reached the right page where you can discuss the possibility of Accounting Outsourcing in case your company is anywhere in India,

We already are doing BPO accounting for clients with factories / HO in Tamil Nadu, Gujarat, Maharashtra, Uttarakhand, Rajasthan, UP, North Haryana, Delhi and so on.

Of course, if you are Faridabad or Gurgaon based and want GST work , AR, AP processing, Balance Sheet work, no problems, we are there for you.

Ideas in Agreement for Outsourcing of Accounting Department work

  • Benefits expected to CUSTOMER
    1. Much Higher level of Reliability –
      1. Reliability of Reports
      2. Reliability of Purchase bill passing

  • Ontime payment of all telephone bills , credit card bills, insurance payments

  1. Reliability of Purchase bill passing,
  2. Daily MIS reports on sales, collection, payments,
  3. Daily bank reconciliations
  4. Better quality of integrated accounting, with all locks as possible in FINSYS ERP

  • Special Benefit of this assignment and business method
    1. Monthly top level meetings at Factory / Customer HO
    2. Over powerpoint presentations
    3. Reviewing,
      1. What was done ?
      2. What was not done ?
      3. Where are we ?
      4. Where are we going , (direction ) ?


  • Companies included
    1. One company and one factory of CUSTOMER

Scope of Work : Inclusions


  • Inclusions : Scope of work  :
    1. Data Entry for Financial Accounting of the day to day vouchers into FINSYS software – Accounting Module. As per details in next para.
    2. Preparation of the Annual Profit and Loss Statement and the Balance Sheet.
    3. Preparation of the regular Monthly MIS reports for the Financial Accounts, including short Profit and Loss Statement.
    4. Preparation of TDS returns
    5. Preparation of calculations for TDS monthly payments challans.
    6. Preparation of GST returns GSTR1
    7. Preparation of GST returns GSTR-3B
    8. Bank Reconciliation on regular basis.
    9. Cheque preparation ( if NEFT / RTGS is not in place)
    10. Online payments to be done by CUSTOMER commercial team.
    11. Finsys shall do the preparation for the NEFT / RTGS online request. However, “checker” / “approver” on the bank website/software will be responsibility of CUSTOMER
    12. When requested, advising staff on the maintenance of the proper supporting and better ERP utilisation in materials and purchase dept also … as far as it related to better vendor bill passing + controls.
    13. General tax consultancy and Advice as requested from time to time.


  • Note regarding Purchase Bill passing
    1. Finsys work include Purchase, Journal Vouchers, Imprest Vouchers, Cash, Bank, Debit Notes, and Credit Notes. Basically, all financial vouchers.
    2. Note : All Purchase bills shall be passed by Finsys team based on the “Commercial passing” by the CUSTOMER Team
    3. CUSTOMER team shall do this passing by its internal system of “approved” PO and “approved” MRR. Further they must be QC passed. Only then the bill will be passed in Accounts by Finsys Team. In case of problem, the Finsys team will raise the Query to the Commercial Dept. …
    4. All these processes are inbuilt in Finsys ERP. Finsys team will obey the process and shall help CUSTOMER team follow this strong process. This is the way any organized process Driven MNC works.

  • Note regarding Sales Bill / Invoices
    1. They are created automatically in the FINSYS ERP package based on the Invoices made by the Despatch team.
    2. Hence no requirement
    3. However Finsys TEAM shall do a proper audit of each bill
    4. Physical copy vs online record…. To highlight variation if any ( rare, but possibility is there due to user editing. Hence this is a internal audit process Finsys follows )

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  • Note regarding Indirect Expenses / Overheads Bill passing
    1. The CUSTOMER commercial dept will “pass/sanction” these bills, and give to Finsys team.
    2. Responsibility of Finsys team shall be limited only to “data entry” of these.
    3. Example: Telephones, staff imprest vouchers, staff conveyance, credit card statements, petrol bills, business promotion, foreign travel, electricity, water, staff welfare.

Strong Accounts Department

  • Note regarding onsite accountant
    1. As of now
      1. Nil, ( Excluded ) ( can be arranged on extra basis )
      2. Cash payments, and emergency cheques will be prepared by the CUSTOMER Commercial department.
    2. Suppose person is added onsite.
      1. In case he is on Finsys Rolls, his scope of work will be emergency cheques preparation, arranging the information to the other departments, that is required then and there. Helping in customer account reconciliation / vendor account reconciliation / staff advances / staff imprest bill passing etc
      2. If work is more than time available for a normal person’s work, then additional manpower can also be deputed onsite, extra basis.

  • Note regarding MIS Reports
    1. Finsys team shall provide the pre-agreed reports on a daily / weekly / monthly basis.
    2. Some of these reports are based on the data that is currently not available. And this may take time. Hence some reports will start in the first month, some in second month, and other reports over a period of time.

Scope of Work / Sharing of Work :

Relationship with Other Departments

  • GST dept activities
    1. Preparation of GST return 3B = Finsys
    2. Preparation of GST return R1 = Finsys
    3. Preparation / calculation of GST Challans = Finsys
    4. But going to Department for any Forms / Physical meetings / On road Challan due to any vehicle being caught = in CUSTOMER Scope
    5. E Way bill will be generated by CUSTOMER Team.


  • Work by Banking team
    1. Accounting by Finsys
    2. Reconciliations by Finsys
    3. Funds allocation internal with CUSTOMER
    4. Cheque making + printing + cellotape by Finsys ( for safety from frauds )
    5. Cheque release planning by CUSTOMER
    6. Bank meetings and renewals and negotiations, by CUSTOMER

  • Exclusions : Materials Inwards / Outwards / Issue entries / stocks

    1. The Stores / Purchase / Sales departments shall do their own respective work, and Stores accounting is not included

  • Exclusion : Commercial Department
    1. Finsys team shall be dependent on the commercial CUSTOMER dept for the following
      1. Work of Cashier.
      2. Day to day going to Bank / Deposit of Telephone bills, Electricity, Credit cards etc.
      3. Day to day going to Customer / Vendors / service providers.
      4. Customer Account Reconciliation / Vendor Account reconciliation.
      5. Courier / Person who will take documents to Finsys office on daily basis.
      6. Day to day meetings with customers or vendors for any purpose whatsoever.


  • Work of Payroll / Salary Dept

    1. Model A
      1. Inclusion with Finsys
        1. The important task of TDS on salaries by Finsys, is a part of accounts department outsourced to Finsys
      2. Exclusions
        1. All other work in HR Domain by CUSTOMER team
      3. Model B
        1. All activities in Model A plus the following
        2. Usually every company has an internal HR department, so these tasks as done by them. However, in case that is required, then as a separate assignment, we can add the following inclusions too.
  • Inclusion with Finsys in model B
    1. Salary Preparation, by Finsys
    2. Letter to Bank for Salary Transfer. Finsys
    3. ESI, EPF, welfare fund returns by Finsys
    4. TDS on Salaries by Finsys
  1. Exclusions
    1. Time office
    2. Appointment letters, increment letters, HR procedures, penalties.
    3. KRA / Job Descriptions , job monitoring, admin duties of any kind.
    4. And all other work
    5. Current plan is for Model A
    6. For knowledge, the Finsys team can work on Model B, with an extra financial contract. So, excluded for time being


  • Other Exclusions :
    1. These jobs are currently excluded for this contract. However, Finsys team can help organize professionals directly/indirectly to handle the same on extra basis.
      1. Going to GST / income tax offices for scrutiny or any work that is currently being handled by other consultants.
      2. Work of other departments like Procurement Planning, Purchase, Sales, Stores, Despatch, Quality, etc. These departments shall continue their duties.
      3. ROC Minutes book, detailed shareholders registers, and all ROC Records.
      4. Cost Accounting books, all Cost Accounting Records and Cost Audit.
      5. Fixed Asset Registers.
      6. Personal accounting & Personal Balance Sheet / Income tax returns, of the Directors family members.
      7. Any other matters not in scope para.
      8. All out of pocket expenses are on CUSTOMER account ( if any ).


  • Statutory Auditors / Tax Auditors
    1. Existing CA’s may continue as it is
    2. Finsys shall submit all required accounting information as required in normal statutory audit and normal tax audit as in previous years.

Contract Period

 Contract Effective Date

    1. This contract will come into force, w.e.f. __________
  • Contract period
    1. Tentatively, the contract is with a horizon of 12 months. ( One year ).
    2. It may be extended by mutual consent, on year to year basis.
    3. It may also be terminated at any time by either party with 3 month notice.

  • Exit procedure – in case of Notice to Finsys team to exit the contract
    1. During the Notice period, following process is to be done.
    2. Responsibilities of Finsys Team
      1. Finsys shall hand over all documents, vouchers, files, and soft copies of the required files to the new accounting firm / internal CUSTOMER team. This may include parallel handholding for this Transition period.
      2. Finsys shall give the suggested SOP’s to the new team.
    3. Responsibilities of CUSTOMER Team
      1. CUSTOMER shall create a capable team to take the handover.
      2. CUSTOMER shall clear all financial dues of the Finsys team, upto the notice date and for the Transition period.


Locations and Visits

  • Locations of Accounting work
    1. Work to be done usually, at the office of the Finsys
    2. Meetings may usually be done at Customer office as per mutual convenience from time to time.
  • Locations of Storage of Documents
    1. Voucher Files shall come back to CUSTOMER office at regular intervals, The CUSTOMER shall keep them safely in a proper commercial Warehouse for future safety.
    2. Usually vouchers will be returned after its relevant Quarter ending / Half year ending returns have been filed.
  • Locations – onsite Deputed Accountant
    1. Not applicable / may be discussed.
    2. Customer will continue to retain at least one commercial accountant on site for the commercial activities as discussed.


  • Professional Charges
    1. Rs xxxxxxx p.m.( Rupees xxxxxxxx only per month)
  • Taxability :
    1. GST extra, as applicable
    2. TDS to be deducted, as applicable
  • Expenses INCLUDED in this Fees
    1. Salaries , allowance and all costs of Finsys staff
    2. The conveyance to/from Faridabad for Finsys Team members.
    3. Cost of computers and computer peripherals and consumables.
    4. Cost of Files, File covers, and stationery
  • Out of Pocket expenses ( and to be paid Extra )
    1. Cost of binding the documents,
    2. All other expenses Out-of-pocket expenses shall be payable extra , on actual, by CUSTOMER to Finsys
    3. All the Government taxes, levies, interest, penalties if any shall belong to the CUSTOMER.
    4. Finsys is working on this contract with best of intentions and based on the information provided to them. In case of any short coming, Finsys shall professionally help organize the same. However financial cost shall continue to be on CUSTOMER side.
  • Payment terms
    1. Billing usually once a month around 25th of that month.
    2. Payment within 10 days of the submission of the bill. ( usually by 10th of next month)


Backlog work


  • Status of Backlog work ?
    1. GST returns filed for last year ? yes
    2. GST annual return for previous years filed ?
    3. TDS returns filed for last year ? not yet
    4. Backlog how much ? nothing as per the customer
    5. Balance Sheet signed for last year, signed and filed as required ?
    6. Any manday’s required for last year ? ______
    7. Debtors outstanding is bill wise already ? _______
    8. Creditors outstanding is bill wise already ? _______


  • Backlog work for last year
    1. to be discussed


Standard Terms and Conditions


  • Information required
    1. Vouchers, bills, supporting, Purchase orders, Material receipt note(MRR), Quality OK, to authenticate the passing of the purchase bill.
    2. Any loan documentations.
    3. Copy of Bank Statements. / access to the online banking portal.
    4. Details of new assets purchased.
    5. Payroll time summaries from the HR Dept.
    6. Authorisation and Valuation of Stock is the responsibility of the CUSTOMER.
    7. Authorisation and Valuation of “Creditors / Debtors /Accounts Receivable” is the responsibility of the CUSTOMER.
    8. Other items as requested from time to time.

  • Responsibilities for Internal Controls.

    1. Both Finsys and CUSTOMER teams shall work to their best abilities, however, involvement in this type of engagement may or may not disclose all frauds, defalcations or other irregularities which may occur. Finsys team shall, however, share ideas and information on any material weaknesses in the accounting or internal control systems which come to their notice .
  • Non Disclosure Agreement and Confidentiality Clause : –
    1. Finsys agrees to hold in confidence all information regarding Customer’s financial and non-financial data like products, costs, operations, commercials etc. This non-disclosure agreement binds Finsys and all its team members and associates, by whatever name called.
    2. Finsys shall endeavor to keep to the best of its capacity, to prevent the leak of internal confidential information of CUSTOMER to the outsiders.
    3. However the above does not apply to the information already in the public domain, or information available to the public from third party sources.
  • Data Safety and Data Security
    1. The proper backups, good electricity ( UPS , generators etc) , proper safety from Viruses, etc is a must, and this is expected from Customer’s – IT team.
    2. CUSTOMER to control the data privacy by controlling the pendrive access, control the internet / email access to users who don’t need it, control who sees what, who has what rights in the ERP, and who takes the backup etc. Wireless internet should be with proper passwords. All passwords, of internet, Tally, web based access and wireless access must be changed regularly.


What things Finsys team can do and how ?

1. How to manage data entry for stores / MRN etc / Stock Issue etc?
Answer = These continue by your internal team , as it is.
2. How about management reporting? Daily/Weekly 
Answer = MLG team ( we will do this )
As per chart attached
3. Sales Orders Entry / Updates
Answer = These continue by your internal team , as it is.
if very occassional, we can do
4. Purchase Request / Purchase Order management
Answer = These continue by your internal team , as it is.
5. Manufacturing data , PPC data
Answer = These continue by your internal team , as it is.
6. How many resources would I need to employ to effectively manage the setup?
Answer = Commercial teams continue, operations /purchase negotiations / etc continue
only accounts and taxation and audit and balance sheet work
these 4 activities are going to Finsys in Round 1
Finsys can do other activities also
later on in phase 2

1. Can approvals by Directors be done remotely – by iOS app, online etc ? YES
2. What can you suggest to make it ultra KISS (Keep it Simple Sir) to do data entry, manage approvals and get meaningful reports?  YES

Areas of operations

Accounting outsourcing in NCR Delhi | Accounting outsourcing in Faridabad | Accounting outsourcing in Gurgaon | Accounting outsourcing in Noida | Accounting outsourcing in Greater Noida |

Thinking Positive,
and Positively yours,

Co-Founders, Finsys Infotech Limited, the Creators of Finsys ERP Software packages | E :  corporate [at] finsys.in | #91-9312608426 |

We are already doing this Accounting Outsourcing for our esteemed BPO customers based across India, from North Haryana, to South Haryana, to Bahadurgarh, to Tamil Nadu, to Bhiwadi Rajasthan, to Gurgaon, to New Delhi and so on
Accounting Outsourcing Faridabad Gurgaon GST work Audit work CA work
Finsys already has so many success stories in Accounting outsourcing, AR, AP, Audit, Taxation, GST, and turn key services
more details on www.mlgassociates.in
Contact us on Contact page
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Finsys is doing Accounting for many companies across India. 

Total Turnover of the companies , for which we are the Back End accounts Department about Rs 300 Crores in FY 19-20,  Expected Figure of FY 20-21 : Rs 330 Crores