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Record to Report

Record to report or R2R is the management process for providing strategic, financial, and operational feedback to understand how a business is performing.

Record to Report
A Private Limited Company?

Registering a Company is quick, easy, and can be done online with Ledger in 3 simple steps:
STEP 1General Accounting
STEP 2Fixed Assets
STEP 3Closing & Reporting

How we work

Work can happen completely at our place or completely at the Clients place or a mixed model where some of our resources work from the Client’s place and some from our Place depending upon work and client’s needs and requirements.

We also provide trained accounting resources deployment at clients’ workplace on a time and material basis with adequate, appropriate qualification and experience in line with clients’ needs thereby eliminating the fear and worry of disruption in the accounting & finance activity in case of absence or leave of the company’s employee.

Most of our clients have opted for the outsourcing of a complete F&A function which includes all services mentioned above except some core processes like Treasury, banking, etc. In such a scenario, the bandwidth of the CFO gets released to a greater extent and he can focus on the business growth of the company.

We also undertake specific requirements for Companies that just want to outsource a particular part of the F&A function i.e. Statutory Compliance, Payroll processing, Accounts payable processing, etc.

Record to Report

Record to report or R2R is the management process for providing strategic, financial, and operational feedback to understand how a business is performing.

This process involves collecting, transforming, and delivering relevant, timely, and accurate information to all stakeholders inside and outside the organization, to provide insight into how their expectations have been met.

It covers the steps involved in preparing and reporting the overall accounts which are typically stored in a general or nominal ledger and managed by a comptroller. The detailed steps involved are:

General Accounting

  • Recurring and one-time Journal Entries
  • Revenue/Expense Accruals
  • Project Accounting
  • Inventory and Supply Chain Accounting
  • Fixed Assets Accounting
  • Payroll Posting & Reconciliation
  • Account Reconciliations (cash, Bank, Sub Ledgers, etc.)

Fixed Assets

  • Asset Master Setup
  • Asset Capitalisation
  • Asset Transfer In / Transfer Outs
  • Fixed Asset Retrials/ Disposals
  • Depreciation Run and Allocation
  • Expense Adjustments

Closing & Reporting

  • Trial Balance Analysis
  • Periodic and Year-End Book Closing
  • Month End General Ledger Close
  • Accruals, Allocations, and Reconciliations
  • Statutory Reporting
  • Management Reporting

Benefits of an efficient R2R process

  • Accelerated closure of month-end activities
  • Accurate and timely reporting
  • 100% completion of all reconciliation items in-time
  • Average aging of open items in Recon’s brought down
  • Cost Reduction
  • Compliance
  • Tax Planning
  • Strategic Decision Making