Reconciliation is an accounting process which inputs two sets of same records from two different points to ensure that the recorded figures are correct and commensurate with each other. It is often considered a lengthy and tiresome activity by the accounts and finance department executives as it involves reconciliation of huge amount of data. The reconciliation work requires expertise in domain knowledge of accounting and finance and matching skills set for accurate and diligent flow of information. By verifying the accuracy of each data and record input, the Corpseed account reconciliation team identifies errors and inconsistencies requiring correction, and reconciles the final balance accordingly
Corpseed offers the following reconciliation services:
Corpseed Reconciliation Team performs the reconciliation services every month when the bank statement is issued for a particular business entity. It helps in reviewing income & expenses and comparing what bank has recorded with what the company employees have recorded. We tend to prepare bank reconciliation statement every month so that it does not become a cumbersome and totally unmanageable process at the end of the financial year at the time of closing the books. Hence, we provide bank reconciliation outsourcing services to organizations that do not have relevant knowledge and consider it a tedious task.
When a bank statement arrives, we compare transactions in the bank account to the check register of the same period. Both, the statement and the register should have same number of transactions. The purpose of preparing bank reconciliation statement is to match each line in the statement with the register.
Choosing Corpseed for your outsourcing requirements enables you to enjoy a wide range of benefits that few other outsourcing providers can supply. Our major differentiators are:
At Corpseed, we use ZOHO accounting software for customers’ account reconciliation services. We are familiar with various accounting applications such as Pro Tax, Sage Line 50, Quicken, MYOB, Peachtree, IRIS and Lacerte.
At Corpseed, we hire only trained accountants with prior 2-5 years of experience in the field of account reconciliation services. All our accounting professionals are adequately trained in ZOHO and other accounting software and can provide electronic or manual accounting as desired by the customer.
Our constant endeavor is to protect the data of our customers. We ensure the complete confidentiality of our client company's internal information with Non-disclosure and Confidentiality Agreements, secure web servers and VPN (Virtual Private Network) protection. We also have a secured set up at our off-site service centers employing encrypted file servers, systems protected by rotational passwords and biometric restricted access for authorized employees only.
Performing the activity of accounting compliance is extremely important, as every transaction has to be completed and recorded as per the laws and regulations laid down by GAAP, ROC, MCA, RBI and SEBI. At Corpseed, we leave no stone unturned to constantly keep ourselves updated with the changes in accounting laws and regulations.
We deploy Lean Sigma Six for quality control procedures using automated reports and online tools to achieve high levels of accuracy and transparency. Every financial document and transaction has to undergo stringent scrutiny parameters and is rechecked twice to ensure accurate tracking of transaction and accounting data.
When a business entity chooses to outsource its account reconciliation services to us, it helps in significant cost cutting as compared to setting up and maintaining an in-house reconciliation team. Outsourcing of any business activity to domain experts results in reduction of administrative expenses, enhanced protection against fraud, and access to a faster, more convenient way of tracking accounting and transaction data.
At Corpseed, we are committed to offer our services to the entrepreneurs and businesses as a very cost-effective proposition. We believe that a customer is always right and the focus of any business activity should be to serve the customer with utmost loyalty. All our services come with SLAs (Service Level Agreements) for on-time service delivery and money back guarantee to ensure high level of customer satisfaction.
At Corpseed, our valued customers are always kept in the loop as far as service delivery timeline is concerned and we inform our customers every time a milestone is achieved during each stage of service request processing. But we also believe that we may come across a customer who is not satisfied with our efforts. For that we have a very responsive Customer Care Department which work 24x7 to attend to and solve customer complaints. We also have a money back guarantee for those, who want their service charges to be refunded.
At Corpseed, We believe it is our responsibility to protect our customer information from unauthorized access. We have put systems and processes in place to make sure that the customer information is safe with us during its storage and transfer between in house and third party servers. We continuously test our systems and processes for security breach and vulnerabilities are identified and fixed at a regular basis..
If a customer is not satisfied with the service we provided and if he contacts our customer care helpline and files a formal complaint within 15 days of service delivery date, Corpseed would refund the entire or partial amount of Professional Fee charged for that particular service.
If a customer is having issues with our service delivery process, he has various alternatives available at his disposal to register his grievance with us. He can either email his complaint at email@example.com or he can call our 24x7 Customer Care Helpline. Also, any customer is always welcome to visit our office to lodge a complaint with the senior management.
A customer can buy our services directly from our online platform, for which he need to make online payment. Once he clicks on "Apply Now", a new window will open, a customer is required to submit the information in the respective fields and click "Make Payment". A unique ticket number will be auto generated, the customer need to quote this number as reference for any enquiry regarding his service request.
All the monetary transactions performed on Corpseed online platform are secured with SSL System Protocol. We encrypt the customer information such as credit card and bank account details, before these are transmitted anywhere. We adhere to PCI DSS for data security standards for payment processing.