Cost Effective
Flexible Staffing
Speciallized Expertise
With 19+ years of experience and a team of 500+ professionals, OHI is your trusted partner for year-end accounting services and audit support. We simplify financial statement preparation, reconciliations, and compliance, providing tailored solutions to meet your needs.
Realize cost reductions of 40%-60%
Scale up and down based on your needs
Focus on running the business instead of managing books
Use us as full-time, part-time or on as needed basis
Access to best practices derived from 300+ businesses
Year-end accounting and audit support activities are performed by a Senior Property Accountant. Our indicative standard charges for the service is listed below.
Sr. Property Accountant can provide the following services- General ledger accounting, cash flow projections and management, inter-company accounting, prepare budgets, analyze expense variances, review balance sheets, prepare monthly financials including detailed monthly reporting and assist Controller in month/year end activities. They have strong balance sheet knowledge including assets, liabilities, income statement, cash flow statement and common financial ratios.
Clearing backlog of un-posted historic transactions, reconciling historic accounts with bank/vendor/customer statements, and bringing books up to date.
Clean-up of chart of accounts including removing redundant accounts, updating vendor, customer and inventory lists, and correction of existing miscoded invoices, GL entries etc.
Accounting software transition including set-up of lists, mapping new to old chart of accounts, posting transactions in parallel runs, and 3 Way Reconciliations between Old Vs New Vs Statements.
Year-end accounting is the comprehensive process of closing financial records for a fiscal year, which includes reconciling accounts, adjusting entries, preparing financial statements, and ensuring compliance with accounting standards and tax regulations.
A proper year-end close ensures accurate financial reporting, helps identify discrepancies, supports tax filing and audit readiness, and provides a clear picture of the company’s financial health for strategic planning.
Key steps include gathering all financial documents, completing monthly bookkeeping, reconciling bank and credit card statements, verifying fixed assets and inventory, making adjusting entries, closing temporary accounts, and preparing year-end financial statements.
Accuracy is ensured through thorough account reconciliations, review of receivables and payables, error detection and correction, adherence to accounting policies, and leveraging automation tools to streamline and verify data processing.
OHI offers comprehensive audit support, including document preparation, process evaluation, and guidance to ensure a smooth audit experience.
OHI stands out for its 19+ years of industry experience, a team of skilled professionals, and a commitment to delivering tailored solutions to meet your specific needs.
Yes, OHI has the expertise to manage Year-End Accounting and Audit Support Services for large businesses with multiple subsidiaries. We can streamline the process and ensure compliance across all entities.
The timeline can vary depending on the complexity of your financials and the scope of the audit. We’ll work closely with you to establish a timeline that aligns with your business goals and compliance requirements.
