How much does it cost to outsource accounting in India?
The cost of outsourcing accounting to India varies based on the scope of services, transaction volume, and complexity of your business operations. VJM Global offers transparent, customized pricing structures that typically deliver 40-60% cost savings compared to maintaining in-house accounting teams in Singapore. Our packages can include bookkeeping, accounts payable/receivable, GST compliance, payroll processing, and audit services. We provide detailed quotes after understanding your specific requirements, ensuring no hidden costs and clear ROI. Most Singapore businesses find significant value in our cost-effective solutions combined with expert knowledge of Indian regulations.
What accounting standards do you follow for Singapore businesses operating in India?
We maintain dual compliance, following Indian Accounting Standards (Ind AS) for your India operations while ensuring reports can be consolidated according to Singapore Financial Reporting Standards (SFRS). Our team is well-versed in both frameworks and can prepare financial statements that meet the requirements of Singapore parent companies while satisfying Indian regulatory authorities. We handle the reconciliation of differences between the two systems, providing you with clear, consolidated reporting that serves both jurisdictions effectively.
How do you ensure data security for cross-border accounting services?
We implement strict data protection protocols including encrypted cloud servers, secure VPN connections, role-based access controls, and regular security audits. All team members sign comprehensive confidentiality agreements, and we follow international data security standards. Your financial data is stored on secure Indian servers with automated backups and disaster recovery systems. We also provide detailed audit trails for all transactions and maintain ISO-compliant processes. Singapore businesses can access their data 24/7 through secure portals while we ensure complete confidentiality of sensitive financial information.
What is the typical turnaround time for monthly financial reports?
We deliver monthly financial reports within 5-7 business days after month-end, provided all supporting documents are submitted on time. For Singapore businesses requiring faster turnaround, we offer expedited services with reports available within 3-4 business days. Our cloud-based systems allow real-time data updates, so you can access preliminary dashboards anytime. Year-end financial statements and audit reports typically require 15-20 business days depending on complexity. We maintain consistent communication throughout the process and adjust timelines based on your specific reporting deadlines.
Do you handle GST compliance for companies operating across multiple Indian states?
Yes, we specialize in multi-state GST compliance for foreign companies. We handle GST registration in all required states, prepare and file monthly/quarterly GST returns (GSTR-1, GSTR-3B), manage input tax credit reconciliation, and ensure compliance with e-invoicing requirements. Our team stays updated on state-specific regulations and handles inter-state transaction reporting. We also represent clients before GST authorities for assessments, audits, and dispute resolution. This comprehensive approach ensures your India operations remain compliant across all locations while optimizing tax efficiency.
Can you integrate with our existing accounting software in Singapore?
Absolutely. We work with major accounting platforms including QuickBooks, Xero, MYOB, Tally, SAP, and Oracle. Our team can set up seamless data synchronization between your Singapore systems and Indian accounting software, ensuring real-time visibility across both locations. We also provide cloud-based solutions that allow direct collaboration without software conflicts. If you use proprietary systems, we can develop custom integration solutions or provide regular data exports in your preferred format for easy consolidation.
What support do you provide for FEMA compliance and cross-border transactions?
Our FEMA advisory services cover all aspects of cross-border transactions for Singapore businesses. We guide you through inbound investment regulations, repatriation of profits, royalty payments, inter-company loans, and transfer pricing documentation. We prepare required FEMA filings including FC-GPR forms, Annual Performance Reports (APR), and Foreign Liabilities and Assets (FLA) returns. Our team ensures your cross-border fund movements comply with Reserve Bank of India guidelines while optimizing tax efficiency. We also advise on permissible transaction structures under automatic and approval routes.
How quickly can you onboard a new client and start processing transactions?
Our typical onboarding process takes 7-10 business days from engagement. This includes initial consultation, system setup, document collection, team assignment, and process alignment. For Singapore businesses with urgent requirements, we offer fast-track onboarding completed within 3-5 business days. We begin by understanding your current accounting practices, setting up cloud access, configuring reports to match your formats, and training your team on our collaboration processes. Once onboarded, we can start processing transactions immediately with dedicated support during the transition period.