
Accounting and Financial Industry
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How It Works
How it works
How IMS Decimal supports accounting and finance firms
Streamlining processes with bespoke outsourced accounting solutions and advanced technology, reducing the burden of managing complex accounting tasks.
Ensuring regulatory compliance and high accuracy through our accounting services, addressing the challenges of evolving regulations.
Enabling businesses to focus on core activities by managing essential tasks through finance and accounting outsourcing for scalable growth.

Our services in a print-friendly PDF
How It Works


How IMS Decimal Supports Accounting and Finance Firms
Outsourced Accounting Services:
We offer bespoke services and advanced technology tailored to streamline processes.
Enhanced Accuracy and Compliance:
Our accounting services ensure that your financial operations meet regulatory standards and maintain high accuracy.
Operational Efficiency and Growth Opportunities:
By utilising finance and accounting outsourcing, businesses can focus on core activities while we manage essential financial tasks, allowing for scalable growth.
Services for Accounting and Finance Firms
- Accounting and Bookkeeping
- Audit & Support Services
- Accounts Payable/Accounts Receivable Management
- Management Accounting
- VAT Filing
1. Transaction Recording:
- Daily entry of financial transactions.
- Categorisation of income and expenses.
2. Bank Reconciliation:
- Matching transactions with bank statements.
- Resolving discrepancies in records.
3. Financial Statement Preparation:
- Income statements.
- Balance sheets.
- Cash flow statements.
- Year End Finalization
4. Financial Analysis:
- Reviewing financial performance.
- Identifying trends and insights.
5. Adjusting Entries:
- Correcting entries for accuracy.
- Ensuring compliance with accounting standards.
6. Closing Entries:
- Finalising revenue and expense accounts.
- Preparing for the next accounting cycle.
1. Audit:
- Evaluating internal controls.
- Identifying areas for improvement.
2. External Audit Support:
- Assisting in the audit process.
- Providing necessary documentation.
3. Compliance Checks:
- Ensuring adherence to legal requirements.
- Minimising risk of penalties.
4. Payroll:
- Salary Processing.
- Calculating employee salaries.
- Managing deductions and bonuses.
5. Tax Withholding:
- Ensuring compliance with tax regulations.
- Facilitating tax withholding processes.
- Employee Record Management.
- Maintaining accurate employee information.
- Updating personnel records.
6. Credit Control:
- Credit Policy Development
- Creating policies for credit extension.
- Establishing credit limits.
7. Debt Collection:
- Pursuing overdue payments.
- Implementing effective collection strategies.
8. Credit Risk Assessment:
- Evaluating potential risks.
- Recommending risk mitigation measures.
1. Invoice Processing:
- Timely issuance of invoices.
- Verification of received invoices.
- Supplier Relationship Management.
- Negotiating payment terms.
- Resolving payment discrepancies.
2. Credit Terms Negotiation:
- Negotiating favourable terms with suppliers.
- Ensuring optimal cash flow.
- Ledger Review & Financial Reporting
3. General Ledger Maintenance:
- Updating ledger accounts.
- Reconciling ledger balances.
- Customised Financial Reports.
- Generating reports tailored to client needs.
- Providing insights for strategic decision-making.
1. Budgeting and Forecasting:
- Creating budgets for future periods.
- Forecasting financial outcomes.
2. Cost Accounting:
- Analysing and managing costs.
- Identifying cost-saving opportunities.
- Self-Assessment Tax Returns.
3. Income Tax Calculation:
- Accurate calculation of taxable income.
- Determining applicable deductions.
4. Filing Assistance:
- Preparing and submitting tax returns.
- Ensuring timely compliance.
1. VAT Registration:
- Assisting in the registration process.
- Ensuring compliance with VAT regulations.
2. Periodic VAT Filings:
- Submitting VAT returns on schedule.
- Verifying the accuracy of VAT calculations.
Why IMS Decimal?
Robust Processes
Quick Turnaround Time
Scalability
Cost Efficiency
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FAQs
- Cost Efficiency: Our services reduce the overhead costs associated with maintaining an in-house accounting team.
- Compliance & Accuracy: Our experienced professionals ensure that all financial reports are accurate and compliant with the latest regulations, reducing the risk of penalties.
- Scalability: Our services are designed to grow with your business, offering flexibility and support as your accounting needs expand.
