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If you are a small or a medium sized business, then Cosmic Europe's Account Processing department is your friend. We will take care of all your accounting needs by centralising accounting and adopting best practices. Making use of our services will also provide such firms with the wherewithal to take on bigger work, target larger organisations and thus, hit higher profit margins.

At Cosmic Europe, we believe in doing everything well, at the right time. Which is why, we employ the best kind of people in every department. Our Accounting department too is no exception. It is full of accountants and account managers that understand how critical time management is and are committed to excellence; be it carrying out the standard day-to-day tasks of book keeping to payroll processing, managing tax returns or preparing final accounts, our team can handle everything.

How we work

Every client's accounting needs will be handled by a dedicated team, headed by a qualified accountant.

Upon receipt of all relevant data – receipts, invoices, bank statements etc, we will update the same in the relevant accounting software and start processing the data.

  • Once the client's data is sent to us at Cosmic Europe, we will run the relevant software and prepare the reports based on this data set.
  • We will login remotely into the clients' system and process the final accounting data.
  • Any other data forms that are pertinent, such as Excel statements, bank statements, hand-written cash book statements etc, will be keyed into the system and the final accounts will be prepared
  • The final data will be cleaned, checked and delivered to the client.

What are the benefits of outsourcing to us?

  • -    Reduce working costs, handle more business and so, increase profitability
  • -    Never be constrained by space or capacity
  • -    Faster processing with pinpoint accuracy
  • -    Reduce operational overhead, administrative burden
  • -    Free up time to concentrate on core competencies
  • -    Store current and archive old data in electronic format, for ease of storage and reference

  • When you link with us, you would find that the Cosmic Europe Advantage includes:

  • -    Value for money; we are extremely affordable, especially when compared to our Western counterparts
  • -    Excellent team of highly qualified and dedicated staff
  • -    State of the art technology and security
  • -    Confidentiality
  • -    On-time delivery, every single time
  • -    Professional, consistent

Our areas of expertise include

Book Keeping

Finalization of accounts VAT-able / Non VAT-able clients

Review of accounts done by the clients

Bank reconciliation

Customers / Suppliers accounts reconciliation

VAT return preparation

Corporation tax computation Corporation tax computation

 

LLP / Partnership tax computation


Preparation of Limited company / LLP abbreviated and full set of accounts

Preparation of lead schedules

Preparation CIS returns

Periodical Management accounts preparation

Preparation of MIS reports

Personal tax computation

Rental accounts preparation

P11D calculations

CGT

Tax savings

 

As well as, online submission of the following:

  • Accounts (Companies House)
  • Accounts (HMRC)
  • Personal tax return (HMRC)
  • Partnership returns
  • VAT return
  • CIS return
  • P11D
  • Annual returns (Companies House)

An in-depth look at our various departments

book keeping

 

finance

 

accounts

 

taxation

 

payroll

 

 

Book Keeping Accounting Services


If you are looking for a one-stop-shop for comprehensive book keeping accounting services, financial accounting services and e-accounting services, you have come to the right place.

 

Think of our accounting team as your very own back-end staff. By outsourcing book-keeping to us, a lot of our clients' time, resources and bandwidth are freed up, allowing to concentrate on their core strengths, safe in the knowledge that their accounts are in the safest of hands. Outsourcing to us can save our clients up to 50% of their operation costs! Now that's a bargain!

 

We are experts in handling various accounting software like Sage, QuickBooks, Kashflow, Zero etc..We specialise in web-based document transfer system. We also provide e-accounting, which has the advantage of enabling instant updates and information relay. We handle single and double entry systems, financial services and accounting data entry and administration.

Book keeping Accounting Services

Accounting reconciliation General Ledger Maintenance Inventory Reconciliation
Payroll Processing Cash Flow Management Payroll Administration
Budgeting Credit Card and Bank Reconciliation Taxation Services
Accounting Software

 

What's more, doing all this will cost you a fraction of what it will if you decided to take it all on board yourself! Not sure? Get in touch with us today info@cosmiceurope.com and let us show you how can take care of your accounting needs AND reduce bills at the same time.

 

Financial Reporting


When it comes to running a business, especially one involved in the global markets, accurate financial reporting, ie, the process of producing statements containing details of an organisation's financial status to the all the stakeholders, is crucial. For any business, the prudent course of action is outsourcing the financial reporting to Cosmic Europe's Account Processing team.

 

  • We prepare the external financial statements, including balance sheet, income sheet, cash flow statements and any other vital statements, such as stockholders' equity statements.
  • We prepare quarterly and annual reports to the stockholders.
  • We prepare detailed financial information to be posted on the clients' websites.
  • We also produce financial reports such as reports to the SEC.

 

Accuracy is our byword at Cosmic Europe and with our Account Processing team handling your financial reports, you can rest easy in the knowledge that all rules and regulations will be followed perfectly.

 

Accounts Reconciliation Services


Accurate and comprehensive financial reports, produced after painstaking verification processes and pinpoint accuracy of each account, with zero errors or inconsistencies. This is the Cosmic Europe promise.

 

We are committed to make your Accounting and Cash Management accurate and cost-effective by our Account Reconciliation services. The team at Cosmic Europe is well-qualified and well-versed in the nitty gritties of International accounting practices and are consummate professionals, fully trained and highly vigilant. With our team reconciling your accounts, your valuable time is now freed to concentrate on your core strengths.

 

Once we receive complete and accurate records of transaction, maintained either offline or online, our team will swing into action. We will provide various levels of information to facilitate the reconciliation of your Business Operating Account Statement for any given period.

 

The scope of our Account Reconciliation Services includes

Comprehensive reports in balance with your bank statement Flexible reconciliation periods Reconciliation reports in electronic files or paper
Full Reconcilement Partial Reconcilement Deposit Reconcilement
Check Sequencing Match of paid checks against the issued check list Client-specific formats accepted for input data

 

We are also available 24/7, to securely transfer your data.

 

Taxation


Self-assessment tax returns, Trust return, Inheritance Tax return – we can handle them all, be it for sole traders, partnerships or individuals. From preparing your form for filing your Self Assessment Tax return and filing it online, we will help you handle it all.

 

With more than ten years' experience of British and Canadian tax laws, the Tax processing team of Cosmic Europe is the perfect tax accountant for you. Based in India, our accountants can handle tax filing of individuals, corporations, non-profit companies and partnerships.

Payroll


Payroll processing is an integral part of any account processing team and the Cosmic Europe team is no different. Our team is full of experienced accountants that are well versed in the local laws of UK and India and can process your company's payroll efficiently month after month. Payday will never be preceded with high tension once you outsource payroll processing to Cosmic Europe.

We process weekly and monthly wages using both Sage and Quickbooks. We also handle RTI filings, checking tax codes according to the HMRC, printing pay slips remotely, GIRO data for HMRC payments, end of the financial year report generation, P60 processing and printing, P45 processing and printing as well as maintaining employee records.

Why outsource payroll

You may wonder, what would be the advantages of outsourcing your company's payroll processing to a company based in India. Will we be handle the vagaries of your country's laws, HMRC's rules and regulations and a myriad other issues that are particular to your country?

To that, we say YES! One of the biggest advantages of outsourcing to us is the difference it will make to your operational costs. At a fraction of what it will cost you to do it yourself or get another local business to do it, Cosmic Europe can handle any and all issues pertinent with processing payroll and deliver the goods to you on time, every time.

Our accountants are certified and well-versed in the local ways and keep themselves abreast of the periodic changes in the tax codes, PAYE norms and National Insurance bands, as well as any and all relevant modifications and thus, are able to handle the ins and outs of payroll processing. By taking this voluminous undertaking off your hands, you are now free to concentrate on your core competencies, knowing that your work is in great hands!

How we work

Each sub-team that is allocated to a project is headed by a fully qualified accountant. We can carry out our work remotely and deliver the data to you securely or install the payroll processing software of our client's specification in our servers and process thereon. The option will be discussed with the client and the team leader and once the method has been agreed upon, our team will swing into action.

If we are working remotely,

  • we will wait for the receipt of the employees wage details and the P46 data for the new hires.
  • we will access the accounts remotely and start processing the data received
  • we will print pay slips using the remote printers
  • a comprehensive checklist detailing the work carried out will be emailed to the client, along with GIRO data
  • RTI filing will be taken care of upon receipt of confirmation

If we are working on the client's software installed at our end,

  • we will install and run the software of our client's preference
  • upon receipt of the employees' pay details and P46 of the new hires, we will start processing the data locally
  • print payslips in PDF format and send them to the clients
  • along with a checklist of work carried out and the GIRO data
  • we will also file RTI data once we receive confirmation