Services & Tax
Your partner for day-to-day accounting and strategic finance.
BPO ACCOUNTANTS EMBARK ON YOUR FUTURE WITH CONFIDENCE.
knowing that you have a reliable partner by your side. Our wealth of expertise, customised approach, and unparalleled collaboration will help your business achieve its maximum potential as you move forward.
A successful business is made up of many key leaders and components. Partnering with the right advisor is crucial in guiding your organisation towards achieving its goals. When planning for the future, the resources provided by your consulting professional are invaluable.
The right consultant will have an in-depth understanding of your operations and assist you in making critical decisions, whether it's making capital investments to grow your company or preparing for an ownership transition. As your consulting professionals, we will thoroughly examine the details of your situation to provide comprehensive and accurate advice and guidance, no matter the challenge or opportunity that arises
Leveraging Best Practices and Processes
We provide exclusive day-to-day accounting services for entrepreneurial organisations by leveraging the best practices and processes developed through our extensive experience working with companies.
Our approach combines the quality of top-tier financial advisory services with a creative and tailored execution specifically designed for entrepreneurial companies. We ensure that the bookkeeping tools and processes we implement facilitate stability and long-term success.
Optimise Financial Performance with BPO Accountants
BPO accounting advisory services we can help your organisation optimize financial performance at every stage, whether you need reliable day-to-day transactional accounting functions such as bookkeeping, payroll, invoices, and billing, or high-level expertise to assist with meaningful financials.
Outsourcing finance and accounting functions is becoming increasingly popular among companies seeking to streamline processes and drive efficiencies. Outsourced services typically deliver cost reductions within payroll accounting, accounts payable, and accounts receivable. However, companies are now also interested in moving from basic transactional processes to more strategic functions such as budgets, forecasts, and improving accounting procedures
WHAT WE DO
Comprehensive Tax Planning and Strategy for Every Need
BOOK KEEPING SERVICES
- Accounts payable management
- Accounts receivable management
- Vendor reconciliation
- Record bank and credit card transactions
- General data entry
- Bank and credit card reconciliations
- Maintaining system of record (Quickbooks, Xero, Netsuite, etc.)
CASH MANAGEMENT & MONITORING
- Develop in-depth understanding of AP/AR workflow and terms
- Establish AP prioritization and timing
- Develop AR collections cadence
- Enforce outflow planning and approval process
- Integrate collections and payables
- Coordinate with banks and investors
TRANSACTIONAL STABILITY
- Transactional review with project owners, sales teams, and administrators
- Daily input and output recording for receivables and payables
- Documentation of all financial journal entries
- Daily management of any business transactional duties
- Supply chain management tracking
AUDITABLE ACCOUNTING
- Developing and standardizing month-end close
- Key account reconciliation
- Cost accounting review
- Payroll and labor review
- Supporting documentation for every account financial statement
TAX SERVICES
Comprehensive Tax Planning and Strategy for Every Need
Every financial transaction, whether you're an individual or a business owner, can impact your tax strategy. With different types of taxation and constantly changing tax laws, planning and filing can be challenging. That's why you need professional tax planning services from Sikich to navigate the complex tax landscape.
At BPO Accountants, we don't just stay current with changes to tax law. We also keep up-to-date with your individual situation and make recommendations based on new and existing laws. Our professionals provide effective tax strategies tailored to your unique needs.
Filing may only happen once a year, but our tax consultants conduct in-depth reviews of your current tax strategy and provide ongoing communication throughout the year. We'll keep you informed of any tax changes that may affect you and provide recommendations to reduce your overall tax burden and plan for the future.
Expertise in Financial Forensics
We offer a wide range of financial forensic services, including dispute advisory, valuation, damages calculations, fraud investigations, data analytics, and computer forensics. Our team of experts is equipped to handle even the most complex cases.
Advanced Technological Resources
Our team of experts utilises cutting-edge technology tools to tackle projects involving large data analytics, information security, fraud, risk management, and data privacy/vulnerability detection. We are committed to delivering the highest level of service and results.
Customized Accounting Solutions
Rest assured that your organisation's accounting function is in good hands with our customized solutions. We tailor our approach to meet your unique needs and ensure long-term success. You can feel confident and comfortable knowing that we have your best interests in mind.
A Profit & Loss (P&L) report provides insight into your business's financial performance by showing how money is earned and spent. The primary purpose of this report is to determine whether your business has made a net profit or loss and to adjust your strategy accordingly. The P&L report is a crucial tool for measuring a company's success, and understanding it can help your business grow sustainably.
P&L reports track a business's total revenue and expenses over a specific period, typically on a monthly or quarterly basis. By showing a business's net profit or loss, the report can indicate the effectiveness of its operations and sales strategy.
The main categories in a P&L report include:
- Revenue (or Sales)
- Cost of Goods Sold (or Cost of Sales) – COGS
- Operational Expenses
- Selling, General & Administrative (SG&A)
- Marketing & Advertising
- Technology
- Interest Expense
- Taxes
- Net Income (Profit)
A P&L statement has three main sections: revenues, COGS, and operational expenses. All line items on the statement fall under either revenue or an expense account, and these items determine the bottom line.
There are several types of profit to consider:
GROSS MARGIN
This is a company's profit before operating expenses are deducted. It reflects the core profitability of a company's products or services and is used to calculate the gross margin ratio by dividing the gross margin by total revenue. This allows for comparison between similar companies and the industry as a whole
Gross Margin = Revenue – COGS
EBITDA: This metric represents earnings before interest, tax, depreciation, and amortization expenses are deducted. It closely resembles free cash flow for most businesses and provides insight into available cash.
NET PROFIT: This is the ultimate measure of a business's profits. It is calculated by subtracting COGS and all operational expenses from revenue.
It is important to note the difference between an income statement and a balance sheet. While they serve different purposes, they complement each other to provide a complete financial picture. An income statement shows profitability over time, while a balance sheet provides a snapshot of assets and liabilities.
Understanding your business's income statement is essential for analyzing profitability and growth. If you need assistance with your P&L report, please contact our team of expert outsourced accountants.