#Vendor Invoice Management

[simplifyworkforce]

Vendor Management Solutions: Streamlining Contingent Workforce Management 

The Role of VMS in Contingent Workforce Management 

A Vendor Management System (VMS) is a software platform that helps companies manage their contingent workforce and the vendors who supply them. It centralizes the process of acquiring, onboarding, and managing external labor, providing visibility and control over the entire vms contingent workforce lifecycle. This automation allows organizations to reduce inefficiencies, improve compliance, and manage costs more effectively. 

One of the most significant benefits of a VMS is its ability to simplify the complexities of working with multiple staffing vendors. Companies that rely on contingent workers often partner with various vendors, each with different processes and standards. Managing these relationships manually can be time-consuming and prone to errors. With a VMS, organizations can automate vendor management processes, ensuring consistency in how vendors are engaged, monitored, and measured. 

Direct Sourcing: A Complementary Approach 

While vendor management solutions play a crucial role in managing contingent labor, direct sourcing is becoming an increasingly popular strategy for companies. Direct sourcing refers to the practice of identifying and engaging contingent workers directly, without the need for third-party staffing agencies. By building their talent pools, companies can reduce their dependency on external vendors and lower costs associated with recruitment. 

Direct sourcing contingent labor also allows businesses to cultivate a more engaged and loyal contingent workforce. Organizations can build relationships with pre-vetted candidates, ensuring a faster and more efficient hiring process. In some cases, these workers can transition into permanent roles, making direct sourcing a valuable strategy for talent acquisition. 

By integrating direct sourcing strategies into a VMS platform, companies can benefit from the best of both worlds: the efficiency and automation provided by the VMS, combined with the cost savings and speed of direct sourcing. Many modern VMS platforms offer features that support direct sourcing, including talent pool management, candidate engagement tools, and onboarding automation. 

The Benefits of VMS in Contingent Workforce Optimization 

Beyond simplifying vendor relationships and enabling direct sourcing, vendor management solutions offer several other key benefits: 

Cost Control: VMS platforms provide visibility into spend and usage across all contingent workers and vendors. This transparency enables better budgeting and cost forecasting, allowing companies to reduce unnecessary spending. 

Compliance and Risk Management: With contingent labor comes a host of regulatory and compliance risks, including worker classification and labor law adherence. A VMS helps ensure that these requirements are met consistently across all workers and locations, minimizing the risk of costly compliance violations. 

Efficiency and Scalability: As companies grow and their reliance on contingent labor increases, managing these workers can become more complex. A VMS scales with the organization, enabling seamless expansion without losing control over the contingent workforce. 

Conclusion 

In today’s fast-paced and competitive business environment, vendor management solutions are indispensable for organizations that rely on contingent labor. By centralizing and automating the management of vendors and contingent workers, companies can reduce costs, improve compliance, and streamline operations. When paired with direct sourcing strategies, the benefits are even greater, enabling organizations to tap into top talent quickly and efficiently. For any business looking to optimize its workforce management, investing in a VMS is a step toward a more agile and competitive future. 

You can follow these resources also: 

[REVEALED]: 7 Questions You Must Ask In 2024 Before Investing in a VMS  

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[zaggle-zoyer]

Zaggle Zoyer, an accounts payable and payments automation platform, transforms AP into a data-driven function. By automating invoice-to-payment workflows, it empowers finance leaders to improve spending decisions and optimize cash flows across the organization.

Vendor Invoice Management | Accounts payable software

[erp56757]

Achieving Vendor Excellence through Strategic Vendor Invoice Management

Achieving vendor excellence is crucial for long-term success in the dynamic world of business operations. A crucial aspect of this excellence lies in effective vendor invoice management. Implementing a robust Vendor Management System (VMS) and leveraging advanced vendor management tools and software can significantly contribute to streamlining operations.

Efficient vendor invoice management ensures accuracy, reduces errors, and enhances transparency in financial transactions. A comprehensive Vendor Management System acts as a centralized hub, simplifying the entire process from invoice submission to approval.

By integrating cutting-edge TYASuite vendor management software, organizations can automate repetitive tasks, minimize manual errors, and expedite the approval workflow. This increases productivity overall while simultaneously saving time.

Strategic use of vendor management tools empowers businesses to maintain optimal vendor relationships. Real-time tracking of invoices and vendor performance allows for proactive decision-making and the identification of areas for improvement.

The embracing strategic vendor invoice management through a holistic approach that includes advanced vendor management systems, software, and tools is key to achieving vendor excellence. By doing so, organizations can foster stronger partnerships, reduce operational costs, and enhance their overall financial health.

[saptutorials]

OpenText VIM: Streamlining Vendor Invoice Management in 2023

Are you searching for an efficient solution to manage your enterprise content seamlessly? Look no further than OpenText VIM. In this article, we’ll explore the myriad benefits of OpenText VIM and how it can streamline your content management processes. Read on to discover how this powerful software can transform your business. What is Opentext vim? OpenText Vendor Invoice Management (VIM) is a…

[myndsolution1]

The Ultimate Guide to Vendor Management Strategies

The core of each organisation's procurement process is its vendors. Nonetheless, a lot of businesses sometimes undervalue the significance of building strong bonds with their vendors. Due to this, they sometimes deteriorate the relationship with their vendors and do not receive materials or goods from them. That is why these companies are getting interested in vendor management systems.

[zikzuktechnologies]

Cash Flow Management Software

Tally on Mobile | Are you a Tally user? Get BFM - the best business intelligence platform and access Tally data on mobile. Automate payment reminders and collect payments 20% faster.

https://www.zikzuk.com/contact-us

[ms-demeanor]

Hey if you happen to work for a small business and you use Office 365 for anything and you are not required to use 2FA to log in to your 365 account please talk to your tech people at work and see if they have plans for adding that to your security policy.

We're rolling out 2FA for all our clients who have been hesitant about it and some of them are onboard but many are resistant to the change and it's slow going and we've had 3 customers get hit with session hijacking attacks in the last month. I just had the office manager for one of the businesses we work with call me in tears because one of her customers sent $150k to a fraudulent bank account.

And if you are someone who works in accounts payable and you are doing business to business transfers if one of your customers asks you to transfer to a new account number you need to CALL THEM ON THE PHONE to verify that they really want you to use this new account before you send that money. Asking for an email with a past invoice is NOT a good enough defense against fraud if a malicious actor has taken over your vendor's email and has access to everything they've ever sent you.

While I'm at it, here are some things that I thought were very basic security stuff that are apparently getting overlooked.

CALL TO VERIFY CHANGES. This should be part of your normal policy. You should not accept payment changes, address changes, email changes, ownership changes, point-of-contact etc. from your vendors or customers without first getting on the phone and speaking to someone who YOU PERSONALLY have spoken to at the company in the past and confirming those changes.

DO NOT SEND SENSITIVE INFORMATION THROUGH EMAIL. Usernames, Passwords, Credit Card Numbers, Health information, Personally Identifying information, and all Banking information is all information that you shouldn't send even through encrypted email; either you enter that info on a secure portal or you talk to someone on the phone.

Never, ever, ever give your 2FA codes to anyone. No exceptions. If it's anyone who would legitimately need to access your system they have ways of doing it that do not require you to have access to the system.

[softerseasons]

Juno, out of curiosity, what does an accountant DO? What does it mean to be one? Because I know there's math involved. I've heard it's very boring. But I don't know anything else and I'm curious because you're very good at putting things to words.

Okay first of all, I cannot express just how excited I got when I first saw this message. There is nothing I love more than talking about things I know about, and usually when my career is mentioned I don't get questions so much as immediate "Oh, bless you" and "I could never"s. Which- totally fair! For some people, accounting would be boring as all hell! But for a multitude of reasons, I adore it.

There are multiple types of accounting. The type most people tend to be more familiar with is that done by CPAs- CPAs, or Certified Public Accountants, are those that have done the lengthy and expensive process to be certified to handle other peoples' tax documents and submit taxes in their name, amongst other things. Yawn, taxes, right? Well, the thing with that is that there's a lot of little loopholes that tax accountants have to remain familiar with, because saving their clients a little more here or getting a little more back there can really add up, and can do a lot for people who, say, have enough money to afford to hire someone to do their taxes but not necessarily enough to be going hog wild with. Public accountants can work for large firms or by themselves, and also do things like preparing financial statements for businesses, auditing businesses to ensure all of their financial transactions are true and accurately reported to shareholders and clients, and consulting on how finances can be managed to maximize revenue (money in - money out = revenue, in very simple terms).

The type of accounting I do is private accounting! That basically just means that I work for a company in their in-house accounting/finance department. Private accounting tends to get split up into several different areas. My company has Payroll, Accounts Receivable, and Accounts Payable.

Payroll handles everyone's paychecks, PTO, ensuring the correct amount of taxes are withheld from individuals per their desires, and so on. Accounts Receivable handles money flow into the company- so when our company sells the product/service, our Accounts Receivable people are the ones who review the work, create the invoices, send the invoices to the clients, remind clients about overdue invoices, receive incoming payments via ACH (Automatic Clearing House- direct bank-to-bank deposits), Wire (Usually used for international transactions), or Check, and prepare statements that show how much revenue we are expected to gain in a period of time, or have gained in a period of time. This requires a lot of interfacing with clients and project managers.

My department is Accounts Payable. Accounts Payable does basically the other side of the coin from what Accounts Receivable does. We work mostly with vendors and our purchasing/receiving departments. We receive invoices from people and companies that have sold us products/services we need in order to make our own products/perform our services, enter them into our ERP (Enterprise Resource Planning, a system that integrates the departments in a company together- there are many different ERPs, and most people simply refer to their ERP as "the system" when talking internally to other employees of the same company that they work at, because saying the name of the system is redundant) using a set of codes that automatically places the costs into appropriate groups to be referenced for later financial reports, and run the payment processing to ensure that the vendors are being paid.

To break that down because I know that was a lot of words, here's some things I do in my day-to-day at work:

- Reconciliations, making sure two different statements match up: the most common one is Credit Card reconciliations, ensuring that there are appropriately coded entries in the system that match the payments made on our credit line in our bank.

- Invoice entry: this is basic data entry, for the most part. This can have two different forms, though

- Purchase Order Invoice entry: Invoices that are matched both to the service/product provided from the vendor and the purchase order created by our Purchasing/Receiving department. We ensure that the item, the quantity, and the price all match between our records, the purchase order, and the invoice, before we enter this.

- Hard Coded Invoice entry: Invoices that we enter manually due to there being no Purchase Order for them. This is often recurring services, like cleaning or repairs, that may happen too often or have prices vary too much for Purchase Orders to be practical.

- Cleaning up old purchase orders: sometimes Purchase Orders are put in the system and then never fulfilled. Because this shows on financial statements as being a long-standing open commitment, it looks bad, so we have to periodically research these and find out if the vendor simply didn't send us the invoice, if the order was cancelled, or if something else is going on.

- Forensics! This is my personal favorite part of the job, where someone has massively borked something that is affecting my work, and so I go dig into it, sometimes going back as four or five years in records to find the origin point of the first mistake, and untangling the threads of what happened following that mistake to get us to where we are today. There's an entire field called Forensic Accounting that is basically just doing This but for other companies (it's a subset of auditing, and often is done via the IRS) and that's my dream position to be totally honest. I loooove the dopamine hit i get with solving the mystery and getting praised for doing so faster than anyone else has even begun to realize the problem to start with.

- Balancing Credits/Debits: This is more of a Main Accountant role thing, but the long and short of it is that every business has Assets, Liabilities, and Equity. Liabilities and Equity are what we put into the company/what we owe, and assets are what we have received/what we are owed. Anything that increases Assets or lowers Liabilities or Equity is a Debit. Anything that decreases Assets or raises Liabilities or Equity is a Credit. Every monetary change we process has to include an equal Debit and Credit. This is its own whole lecture, so if you wanna know more about double-entry accounting, let me know, but it's yawnsville for most people.

- Actually cutting checks or initiating bank payments to vendors for amounts we owe them.

- Vendor communication: I'm on the phones and email a lot with vendors who are wondering where their payment is, or why something was short-paid, or if I can change some of their info in our system, and so on and so on. Every job is customer service, unfortunately. I don't love it, but I do a lot less of it in private accounting than I would have to do in public accounting.

- Spreadsheets: I make so many spreadsheets I am a goddamn Excel wizard. I love spreadsheets. This isn't necessarily accounting-specific though, most people in Finance jobs love spreadsheets, or at least use them to make their lives easier. I make them just for fun, because I'm a giant fucking nerd who finds that kind of thing enjoyable lol. So if you ever need a spreadsheet made for anything, hit me up.

As for math, that's a pretty common misconception. While there is math, it is very rarely more complicated than "I paid $3 of the $8 I owe, now I owe $5" for me. There are some formulas you learn in school (Business Administration with a focus in Accounting is what I studied), but they're also pretty standard and rarely include more than like... basic algebra. Which. Thanks @ god because I flunked so hard out of pre-calc in college. I could not have done accounting if it really were all that math heavy.

Aaaand yeah! That's all I've got off the top of my head- if you have any more questions about it, do let me know, I'm happy to ramble on for hours, but I'm cutting it here so I don't start meandering on without direction lol.

[fuck-customers]

I really hate how my manager always thinks I’m wrong even when I’m saying the same thing he is saying. So our accounting emailed me about getting an Alaska sales tax exemption certificate to give to a vendor we’re buying from to not pay the sales tax. I handle all the tax exempt certificates for our vendors and I’ve never seen one for Alaska, but it made sense to me since there’s no state tax. However I knew there were local cities tax in certain cities so I checked but couldn’t find one. So I responded to accounting telling them that I don’t have a state certificate because there’s no state tax but since there are cities tax in certain cities that might be what he’s seeing on the invoice from our vendor. However I don’t have any forms or letters from any city in Alaska so we may need to register for one. He emails my manager confused and my manager is upset that I provided the “wrong” information and then asked if I did my research before responding because we are registered. I responded that I was aware we’re registered with the state, but I didn’t have any state forms to provide so I explained there’s no state tax and the reason I mentioned the may need to register for the city tax exemption was because last year, I was tasked with calling a few cities in Colorado to register for a business license so we could collect city taxes even though the company I work had been registered with the state years prior. I figured the reason I didn’t have any of those documents was because we either didn’t register with the cities or we didn’t need to because we don’t have a location in that city, or state for that matter. Otherwise how else can I explain why I don’t have any paperwork. And it’s not like I could’ve consulted with my manager before responding to the email from accounting because my manager was already gone for the day. After telling me this, he sends an email to Alaska asking if there’s a tax exempt form/certificate that covers all cities in Alaska or if we need one for each city, which to me sounds like what paperwork do we need and how do we get it. Aka registration. The outcome was the same, we’re both unsure whether we need to register, but somehow I’m the one that provided the wrong information.

Posted by admin Rodney

[honeyedmiller]

questions game

ty for the tag @javierpena-inatacvest <3

-

do you make your bed?

Sometimes. Just depends on if I have time or not. 💀

favorite number?

7!

what’s your job?

I’m an assistant property manager, so I oversee a business park with the manager of the property and handle leases, insurance for tenants and vendors, purchase orders, invoices, communication, and work orders. I also answer all incoming calls and emails 🙂

if you could go back to school, would you?

I’m not too sure about this one. On one hand it would be nice to get my masters, but on the other, I don’t want to be in crippling debt and my career doesn’t require me to have anything above a bachelor’s, which I already earned.

can you parallel park?

I sure can

do you think aliens are real?

100%

can you drive a manual car?

I can’t, but I’d like to learn how

what’s your guilty pleasure?

Watching kuwtk (they’re insufferable, ik) and dark chocolate.

tattoos?

I have four of them. One on each wrist (lotus flower and semicolon), one on the inside of my left forearm (a flower tattoo with my grandma’s name as the stem portion), and one on the back of my left shoulder (hummingbird made out of music notes). Itching to hopefully get more soon!

favorite color?

Maroon, sage green, and pink.

do you like puzzles?

Love them. Especially brain teasers and ones on a more physical level, like escape rooms.

any phobias?

Spiders.

favorite childhood sport?

I played a few growing up, but tennis has to be my favorite one.

do you talk to yourself?

Just as much as the average person… I think.

-

no pressure tags:

@reedrchards @ovaryacted @raspberrybesitos @pedrospatch @yxtkiwiyxt @amanitacowboy @party-hearses @penvisions @tuquoquebrute @evolnoomym

[simplifyworkforce]

Optimizing Supply Chains with VMS Providers and Direct Sourcing 

In today's fast-paced business environment, managing supply chains efficiently is more critical than ever. The right technology can make all the difference, particularly when it comes to contingent workforce management and sourcing strategies. By partnering with a VMS provider and leveraging advanced supply chain management software, businesses can streamline operations, reduce costs, and improve overall efficiency. 

VMS Providers: Enhancing Workforce Management 

A Vendor Management System (VMS) is a crucial tool for businesses that rely on a contingent workforce. VMS providers offer platforms that help organizations manage their external talent, from recruitment to offboarding. These systems provide visibility into workforce activities, ensuring that businesses can track performance, maintain compliance, and optimize their use of contingent labor. 

Working with a VMS provider allows companies to centralize their workforce management, making it easier to oversee all aspects of vendor relationships. This centralized approach not only improves efficiency but also reduces the risk of errors and non-compliance, which can be costly in the long run. By integrating VMS solutions into their operations, businesses can stay agile and responsive in a competitive market. 

Supply Chain Management Software: Driving Operational Excellence 

Supply chain management is a complex process that requires precise coordination and control. Supply chain management software offers businesses the tools they need to monitor, manage, and optimize every aspect of their supply chains. From inventory management to logistics, these software solutions provide real-time insights that help businesses make informed decisions and respond quickly to changes. 

Integrating a VMS with supply chain management software further enhances operational efficiency. By linking workforce management with supply chain activities, businesses can ensure that they have the right people in the right place at the right time. This alignment reduces delays, improves productivity, and ultimately leads to better business outcomes. 

Direct Sourcing: A Strategic Approach to Talent Acquisition 

Direct sourcing is an increasingly popular strategy that allows businesses to source talent directly from their networks, bypassing traditional staffing agencies. This approach not only reduces recruitment costs but also speeds up the hiring process. By building a pool of pre-vetted candidates, companies can quickly fill positions with individuals who are a good fit for their needs and culture. 

When integrated with a VMS and supply chain management software, direct sourcing becomes even more powerful. Businesses can seamlessly manage the entire talent acquisition process, from sourcing candidates to onboarding, while maintaining control over quality and costs. This strategic approach enables companies to build a more agile workforce that can adapt to changing business demands. 

Conclusion 

Incorporating a VMS provider, supply chain management software, and direct sourcing into your business strategy can significantly enhance efficiency and reduce costs. By streamlining workforce and supply chain management processes, businesses can remain competitive and responsive in today's rapidly changing market. The combination of these tools provides a strong foundation for operational excellence and long-term success. 

Book a demo- https://www.simplifyvms.com/demo/

[religion-is-a-mental-illness]

By: Adam B. Coleman

Published: May 17, 2024

The law of attraction dictates that you attract what you are, so it is by no coincidence that the Diversity Industrial Complex often attracts con artists.

It’s an industry predicated on siphoning phoning money from gullible corporations who are desperate to project themselves as societal changemakers.

This is how immoral people like ex-Facebook and Nike diversity program manager, Barbara Furlow-Smiles, were able to extract millions of dollars from resource abundant corporations.

Smiles, who led the diversity, equity, and inclusion (DEI) programs for Facebook from January 2017 to September 2021, pleaded guilty in December to a wire fraud scheme that helped her steal more than $4.9 million from Facebook and a six-figure sum from Nike.

Atlanta US Attorney Ryan Buchanan lamented how Smiles was “utilizing a scheme involving fraudulent vendors, fake invoices, and cash kickbacks.”

“After being terminated from Facebook, she brazenly continued the fraud as a DEI leader at Nike, where she stole another six-figure sum from their diversity program,” Buchanan stated.

Smiles used her authority to approve invoices to pay for services and events that never occurred, funneling the money to several personal associates and pay Smiles in kickbacks.

She would later submit fake expense reports claiming her associates completed work for Facebook, such as providing marketing help and merchandise fulfillment.

Smiles’ lavish lifestyle will be replaced with a stiff punishment of five years imprisonment, three years of supervised release and an order to pay back the money she stole from both Facebook and Nike.

There is something apropos about a sham employee like Smiles being able to climb the ranks of a sham sector of corporate America.

Post-George Floyd’s death, business enterprises fell in love with — or were backmailed into — the idea of a marriage between capitalism and social philanthropy.

DEI job positions increased 123% between May and September of 2020, according to Indeed.

It was no longer enough to have financial success in the business environment, they now wanted to become adored by the public — or at least not be accused of white supremacy.

But when you’re desperate for an outcome, there will always be fraudsters waiting to exploit you.

DEI is a sham because you can’t quantify if it’s succeeding. There are never enough programs or seminars or representation — it just keeps expanding.

Smiles likely was able to get away with what she was doing for years at Facebook because DEI is treated like a new romance; constantly given the benefit of the doubt despite their red flags.

Falling for a scam has nothing to do with intelligence or experience; literally anyone can get scammed.

We fall for scams when we become so desperate for an outcome that we’re willing to suspend belief and overlook common sense.

The problem is that ego prevents industry leaders from hearing our warnings about the falsehoods they’re being fed.

People who believe they’re always the smartest ones in the room won’t conceive how they’re being played by ideological nitwit college graduates who are motivated by ending capitalism.

They’re scared of being accused of being racist, and thus surround themselves with con artists who enjoy manipulating their empathy to drain their wealth.

Corporate America loves chasing love; DEI loves their money.

Adam B. Coleman is the author of “Black Victim to Black Victor” and founder of Wrong Speak Publishing. Follow him on Substack: adambcoleman.substack.com.

--

See:

==

DEI is inherently fraudulent. It's premised upon fraudulent grievance "scholarship," it's unquantifiable, untestable and unfalsifiable, and will accuse you of istaphobism for expecting that its objectives should be quantifiable, testable and falsifiable. Much like traditional religion.

In practice, it's like doing phrenology or dowsing for hidden "bigotry," and "curing" it with more identity homeopathy.

So, it's unsurprising that a fraudulent industry is rife with frauds. We've seen non-stop academic fraud and plagiarism from DEI academics, so we should expect comparable fraud from DEI practitioners.

Interesting how these DEI types are usually raging anti-capitalists, though.

[erp56757]

Streamlining Efficiency: The Rise of Automation in Vendor Invoice Management

It is now essential to integrate cutting-edge technologies in the fast-paced world of business. One such area experiencing a transformative shift is Vendor Invoice Management (VIM). As organizations grapple with the challenges of manual processes, the advent of automation through advanced Vendor Management Tools is revolutionizing how invoices are handled.

Vendor Management Systems (VMS) or Vendor Management Software (VMS) are at the forefront of this change. These sophisticated tools are designed to enhance accuracy and efficiency, mitigating the risks associated with human error in traditional invoice processing. By seamlessly integrating with existing systems, they empower businesses to centralize and streamline their vendor-related operations.

The benefits are manifold. Automated workflows within TYASuite Vendor Management Systems facilitate swift invoice approvals, reducing processing times and minimizing delays. This, in turn, enhances vendor relationships by ensuring timely payments. Furthermore, these tools offer real-time insights, allowing businesses to make informed decisions based on data analytics.

The future of Vendor Invoice Management lies in automation. Vendor Management Systems, Vendor Management Software, and advanced tools are catalyzing a paradigm shift, enabling organizations to optimize processes, minimize errors, and elevate overall operational efficiency. As businesses increasingly recognize the value of automation, the ascent of these technologies in Vendor Invoice Management is set to continue its upward trajectory.

[masllp]

Bookkeeping in India by MASLLP: Simplify Your Financial Management

In today’s fast-paced business environment, maintaining accurate financial records is essential for businesses to succeed and grow. Efficient bookkeeping helps track income, expenses, and overall financial performance, ensuring compliance with legal requirements. MASLLP, a trusted name in financial solutions, offers top-notch bookkeeping services in India tailored to meet the diverse needs of businesses.

Why Choose MASLLP for Bookkeeping in India?

Expertise in Financial Management With a team of experienced professionals, MASLLP specializes in delivering bookkeeping solutions that cater to businesses of all sizes. Whether you are a startup or an established enterprise, their team ensures precision and timeliness in managing your financial records.

Tailored Solutions for Every Business MASLLP understands that every business is unique. Their bookkeeping services are customized to match your specific needs, whether you require basic record-keeping or comprehensive financial management.

Compliance with Indian Accounting Standards Navigating the complexities of Indian accounting laws and regulations can be challenging. MASLLP ensures full compliance with Indian Accounting Standards (Ind AS), GST norms, and other legal requirements, saving you from potential financial and legal troubles.

Cost-Effective and Scalable Services By outsourcing bookkeeping to MASLLP, businesses can save on hiring in-house staff and investing in expensive accounting software. Their services are scalable, allowing your bookkeeping requirements to grow with your business.

Bookkeeping Services Offered by MASLLP

Recording Transactions MASLLP ensures all financial transactions, including sales, purchases, receipts, and payments, are accurately recorded.

Bank Reconciliation Their experts reconcile your bank statements with your financial records to detect and resolve discrepancies.

Accounts Payable and Receivable Management MASLLP manages invoices, vendor payments, and customer collections to keep your cash flow healthy.

Financial Reporting Generate accurate financial statements, including profit and loss statements, balance sheets, and cash flow reports, for better decision-making.

GST Compliance and Filing Stay ahead with GST-compliant bookkeeping and timely filing of GST returns to avoid penalties.

Payroll Processing Simplify your payroll management with error-free calculation of salaries, taxes, and benefits.

Benefits of Bookkeeping in India to MASLLP Focus on Core Business Activities: Leave the complexities of bookkeeping to the experts while you concentrate on growing your business. Accurate Financial Insights: Make informed decisions with real-time, error-free financial data. Timely Compliance: Avoid penalties with on-time tax filings and compliance updates. Reduced Overheads: Save money on hiring and training in-house accounting staff. Why Bookkeeping is Crucial for Businesses in India Bookkeeping is not just about maintaining records; it’s the foundation of sound financial management. It helps businesses:

Monitor cash flow effectively. Plan budgets and allocate resources. Ensure tax compliance. Detect fraud and prevent financial mishaps. By partnering with MASLLP for bookkeeping in India, you ensure your business operates smoothly, remains compliant, and is prepared for growth.

[beardedmrbean]

Facebook's former diversity program manager has pleaded guilty to stealing more than $4 million from the company through fake business deals in exchange for kickbacks to fund a luxurious lifestyle, federal prosecutors said Tuesday. 

Barbara Furlow-Smiles, 38, served as the lead strategist, global head of employee resource groups and diversity engagement at the social media giant while she orchestrated the scheme, the Justice Department said. From January 2017 through September 2021, she led Diversity, Equity, and Inclusion (DEI) programs at Facebook and was responsible for developing and executing DEI initiatives, operations, and engagement programs.

"Furlow-Smiles used lies and deceit to defraud both vendors and Facebook employees," said Keri Farley, Special Agent in Charge of the FBI's Atlanta office. "The FBI works hard to make sure greed like this doesn’t pay off and those who commit fraud are held accountable."

Furlow-Smiles committed the fraud by linking PayPal, Venmo, and Cash App accounts to credit cards given to her by Facebook and used those accounts to pay friends, relatives, former interns at a prior job, nannies, babysitters, a hairstylist and others for goods and services that were never provided to the company, a federal complaint states.

It was unclear if her associates were being charged in connection with the fraud. 

After those people received the payments, they kicked back a percentage of the funds to Furlow-Smiles, prosecutors said. The kickbacks were paid in cash and through transfers to accounts in various names, including the husband of Furlow-Smiles, prosecutors allege. 

Some of the kickbacks were allegedly paid in cash sometimes wrapped in T-shirts and other items, the FBI said. She also had Facebook hire vendors that were owned and operated by friends and associates who also paid kickbacks, authorities said. 

To conceal the fraud, Furlow-Smiles submitted false expense reports claiming the individuals performed work on Facebook programs and events, the DOJ said. After they were hired, Furlow-Smiles allegedly approved fake and inflated invoices. She received a portion of the money paid to the vendors under the table. 

Furlow-Smiles also misled Facebook into paying money to entities who didn't provide kickbacks, including nearly $10,000 to an artist who created specialty portraits and more than $18,000 to a preschool, the complaint said. 

"Motivated by greed, she used her time to orchestrate an elaborate criminal scheme in which fraudulent vendors paid her kickbacks in cash. She even involved relatives, friends, and other associates in her crimes, all to fund a lavish lifestyle through fraud rather than hard and honest work," U.S. Attorney Ryan K. Buchanan said. 

Furlow-Smiles used the illicit funds to fund a luxury lifestyle in California and Georgia, prosecutors said.