MANUFACTURING UNIT AT REMOTE LOCATION

Scenario : Having 5 Factories for processing Tea leaves in a remote location with no access to accountants. Stocks are dispatched from factory to HO Warehouse. All Sales and Collections happen at HO.

Challenge : Cash Flow Planning, sending working capital from HO to factory for raw materials and labour payouts and factory maintenance.

Solution by RealEdge :

• We implemented a simple manual voucher recording for capturing transactions as they happened.
• We trained client personnel to scan and send indexed documents.
• RealEdge team does data entry on a daily basis, reconciles bank and prepares all reports like Stock Positions, Purchases and Payables report on a weekly basis for the management to take decisions in sending the right amount of money every week

ONLINE START UP : SKILLED DATA ENTRY

Scenario : A start up sourcing products from China and selling on Amazon.

Challenge : Wanted to sale as business grows, without investing in CFO services. Calculating Cost of Sales for identifying items with highest margins and contributions.

Solution by RealEdge :

• Process for capturing imports and related expenses and tagging them implemented in RealBooks to calculate exact cost of sales.
• Process for stock transfers against GST Invoices to Amazon, and maintaining stock at Amazon's godowns.
• Importing Sales data via Excel sent by Amazon and doing stock reconciliations. The client is able to plan better which products to order and when to order them.

Over the last three years the client has grown 5 times with out worrying about creating a finance and accounting team.

TRAINING & COACHING INSTITUTE: COMPLEX ACCOUNTING AND INTELLIGENCE, COST SAVING

Scenario : Training Institute having 40 Franchises across Karnataka, Maharashtra and Andhra Pradesh. Each franchise was doing accounting in an independent Tally installation.

Challenge : Repetition of data entry at HO for consolidating data from different locations. No control over data entry or narration. Reconciling bank was a nightmare for collections from over 10,000 students.

Solution by RealEdge:

• We implemented a custom collection module for our clients where all rules for collection was enforced.
• A simple user interface is being used for cashiers at Franchise level.
• Automated BRS was implemented in RealBooks.
• RealEdge team synchronises all collections at day end, keeps track of PDCs and cheque bounces, this drastically reduced cost as duplicate work was entirely eliminated.
• We brought discipline and transparency to Management by enforcing all edits and deletes are done centrally by RealEdge team.
• We reconcile bank on a daily basis and helped client to implement real time accounting. And help generate MIS reports for Management as and when they require.

LAW FIRM : REALTIME INVOICING SERVICES AND RECEIVABLES REPORTS

Scenario : A well known law firm with 2 partners and a small team needed to keep track of their finances.

Challenge : Raise a few invoices a week on realtime basis with out doing it yourself and also without having the burden of a full time accountant.

• We established a simple communication process for tracking their requests and raising invoices accurately everytime they send a mail. The mail triggers a ticket on our support desk, such that no request is ever lost or delayed.
• We reconcile their banks on a weekly basis and deliver receivables report every week so that firm is on top of its finances.