Accounting Services
Our extensive know-how in assisting the accounting firms with audit preparation for their clients’ books is based on the experience our professionals have gained from working in a wide range of public accounting and financial roles serving varied industries.
Many of our professionals have worked as external or internal auditors, which helps us to complete the audit in a thoughtful, timely, and effective manner. We offer a multitude of services for different attestation projects:
- Audit planning and implementation
- Evaluation of revenue and expenditure accounts including flux analysis
- Preparation, analysis, and updating of audit work papers and schedules using AuditFile, CaseWare, and MS Excel
- Reconciliation of the balance sheet accounts
- Preparing risk analysis and testing of internal controls
- Preparation of draft financial statements and accompanying footnote disclosures as per US GAAP
Our team has hands-on experience working on outsourced bookkeeping. We have experience in dealing with companies of all sizes and in varied industries. Our bookkeeping services include bank reconciliations, accounts payable, accounts receivable, sales tax filings, payroll processing, cash flow forecasting, and financial reporting, among others.
If you require assistance in performing a financial analysis for books of accounts, our team is experienced in carrying out an in-depth analysis including analysis of various ratios and comparison of actual performance vis-à-vis budgets.
At Knowcraft, we believe in adding value to our clients’ businesses. Our team includes experienced CPAs, MBAs, CMAs, and other financial experts who help you present a thoughtful analysis to your clients and help them in making a more informed decision.
The crux of any important business decision is the information on which it is based, and such information is the result of a deep-dive analyses of a plethora of data points and variables pulled together to build an accurate, robust and detailed financial model. Detailed forecasts modeled in a spreadsheet are the key tools available to the leadership team to analyze the projected numbers from several perspectives and formulate informed strategies.
We have the experience in working for companies of all sizes across industries to develop and implement a robust, time efficient and effective financial budgeting, planning & reporting process. Our consultants are a mix of highly experienced finance professionals and budgeting & planning systems experts who have completed many complex business modeling assignments demonstrating their expertise.
One of the biggest challenges for companies, especially small to medium-sized businesses is maintaining books and updating them from time to time. This includes maintaining a record of business expenses and cash flows while adhering to accounting principles and norms. While hiring a professional could be expensive, it is often not feasible for business owners to invest time and energy in this aspect of operations. This makes outsourcing cleanup and historic accounting services the best option.
Knowcraft Analytics is the leading cleanup and historic accounting service provider with a team of seasoned professionals who can take care of your accounting needs with utmost efficiency, significantly lessening your burden and helping you focus on your core operations.
The success of a business relies heavily upon certain standardized procedures and the data they generate. This is particularly true for the accounts payable department, where the month-end closing process must be done properly to ensure the accuracy and completeness of the financial statements and balance sheet.
Account reconciliation is particularly useful for explaining the difference between two financial records or account balances. Some differences may be acceptable because of the timing of payments and deposits. Unexplained or mysterious discrepancies, however, may warn of fraud or cooking the books.
Our team has extensive experience in preparing month-end closing statements as well as accounts reconciliation.
We help our clients in conducting an internal audit of payroll through headcount reports. We also use Expensify to calculate and monitor all checkpoints for each employee’s claim such as ground transportation, airfares, lodging and hotel expenses, parking taxes, or any other expenses incurred during the company events, paid through any mode of payment.