Accounting & Bookkeeping

MNCO assures prompt and accurate bookkeeping outsourcing services to clients, executed in real time by its in-house team of accountants who are experienced in the accounting standards and practices of various countries such as the USA, UK, South Africa, New Zealand and Australia as well as South East Asian nations. Online bookkeeping services offered by MNCO encompass general journal and ledger maintenance, bank statement reconciliation, and receivables and payables analysis among many more, and can be tailored to specific requirements at an affordable cost.

Payroll accounting is a record of the compensation payable to employees in the form of salary, commission, overtime and bonus after applicable deductions; it also records the employer’s contributions towards employee benefits such as dental and health insurance, vacations and more. MNCO provides a professional payroll accounting service for their clients to ensure that wages are paid accurately and in a timely manner to employees in compliance with district, state and federal regulations.

Accounts receivable deals with payments due to the business from various customers while accounts payable applies to money owed by the business to various vendors and creditors. Effective management of a company’s receivables and payables ensures good financial health for the business. MNCO assists their clients with streamlining Accounts Receivables and Accounts Payables on the company’s balance sheet to get optimum results.

A managed back office is often called the backbone of a business’ operations as it allows the company to focus on core areas and optimize the use of in-house resources while allowing critical tasks to be executed by external professionals. A managed back office providing accounting and financial services will typically cover bookkeeping, taxation, payroll and data entry among others. Clients outsourcing their back office requirements to MNCO will benefit from the skills of a dedicated team of experienced accountants who will efficiently and cost-effectively manage their accounting and financial operations.

Bank reconciliation is an important aspect of a business’ cash management system wherein the accounted business transactions and financial records are reconciled with bank statements. This helps the business amend any inaccurate entries either by the bank or the business, identify cash flow vis-à-vis the bank or detect any misappropriation of funds. MNCO assists clients in performing bank reconciliations and preparing bank reconciliation statements to provide an accurate picture of the financial health of the business.

Inventory management is indispensable to businesses such as manufacturing and retail. However, the time and effort invested in identifying stocks and materials and accurately interpreting future inventory requirements can put a serious strain on employee and financial resources. By outsourcing inventory management, companies can reduce operational disruptions and use their resources in more value-added tasks. MNCO has proven capabilities in inventory management using approved tools and expert personnel who will save costs and allow the business to function without interruption.

Revenue reconciliation is generally implemented recurrently on a predetermined monthly, quarterly or yearly time schedule. Revenue reconciliation represents fiscal administration of debits, credits and cash on hand to ensure that revenue and expenditure are correct and have been accurately accounted for in the books. MNCO combines appropriate software and specialists to assist clients in assessing and matching revenue to disbursements, helping reconcile revenue in a professional, compliant manner.

CPA firms are often overloaded with work from clients big and small, with operations getting even more hectic during tax season. MNCO has an excellent software-savvy team of accountants, equipped to support CPAs with their bookkeeping responsibilities, offering expert and standards-compliant outsourced bookkeeping services that will not only reduce their workload but also help them achieve significant cost savings.