Hire Remote Bookkeeper, Accountant , Tax return Preparer or Admin Person

Monthly Bookkeeping, Payroll, Financial Statements & Tax returns Starting From $ 10 Per Hour for Gemstone and Jewelry Industry

Quality Driven Approach

QuickBooks And Xero Certified Experts

50% Reduction In Costs

Part Time / Full Time Resources For

Hire Remote Team

Years of Success
7 +
Completed Projects
1100 +
Hours of Experience
250 k+
Accounting Software Used
20 +
We Serve in 52 States Of USA
52 +

Bookkeeping software expertise

saasu

intuit QuickBooks

netsuite

wave

Freshbooks

odoo

Xero Gold Partner

zoho books

simply accounting by sage

yendo

Explore Our End-To-End BookKeeping Services/

Federal & State Tax return Filing

A licensed CPA to review and file your tax returns with IRS.

Monthly Financial Statement

Your monthly financial statements help you gauge on your cash flow and plan for the consecutive month better.

Accounts Receivable Management

We manage the amount that you are yet to receive from your vendors/you haven't yet received

Accounts Payable Management

We also remind of the amount left to pay to your purchasers, invoices, contracts and receiving reports.

Reconciliations

Bank , Credit Card , Payment Gateway & Control Account Reconciliations

Cash Flow, Budgeting and Forecasting

Budgeting is a very important aspect of the accounting process of the business.

Why are we the 1st choice of US Businesses for Accounting & Tax Return Preparation

Reduce 50% in Current Costs

You will see a Cost reduction of at least 40-50% as compared to local Bookkeeper or Accountant.

Self Hosted PMS

Our standardized processes and decent Project Management system helps to communicate with you clearly and efficiently.

Faster Turnaround

We generally reply to every emails same day or within maximum 24 hours.

Starting from

US $10 Per Hour Bookkeeping service

Detailed & Regular Work Updates

We send emails that carry all the necessary information you need to carry out business operations.

Monthly Meetings with CPA

We conduct monthly meetings with CPA’s for effective communication and understanding client needs.

Meeting Deadlines

We finish all our work prior to deadlines to prevent any kind of chaos during finalization. .

Detailed Checklists

We prepare a well-defined checklist of all the requirements for you so that you don’t have any confusion.

High Quality of Work

Our Standardized Procedures and Checklists will ensure error free work. .

Cloud AddOns Expertise

Focus on growing your business with our cloud-based accounting and bookkeeping solutions. Our cloud-based accounting services eliminate the need for time-consuming paperwork and data entry, allowing you to streamline your business. With cloud accounting, you get to access your financial data anytime and anywhere.

With Hubdoc, you can automatically import all your financial documents & export them into data you can use.

Gusto offers fully integrated online payroll services that includes HR, benefits, and everything else you need for your business.

Attractive performance reports quickly and efficiently. Ideal for organizations that need deeper insight and analysis.

Receipt Bank converts those annoying bits of paper – receipts and invoices – into Xero data!

AutoEntry captures, analyses and posts invoices, receipts and statements into your accounting solution.

Connect Shopify and Xero to effectively manage your online sales, inventory and accounting requirements.

Bookkeeping in Gems and Jewelry Industry

Running a gems and jewelry exporting business can be both exciting and challenging. While the glittering gems may catch your eye, the importance of bookkeeping cannot be overstated. Bookkeeping is essential for any business to keep track of their finances accurately, including recording all transactions such as invoices and receipts. But how does bookkeeping work? What are its benefits? And most importantly, why is it crucial for gems and jewelry exporters? Join us as we dive into the world of bookkeeping for this industry and uncover tips on keeping accurate records that will help you make informed financial decisions!

The Gems and Jewellery sector is one of the most vibrant industries in India. It is also one of the most complex, with a large number of businesses involved in the trade. As a result, accounting and bookkeeping in this sector can be very challenging. There are a few things that you need to keep in mind when it comes to accounting and bookkeeping in the Gems and Jewellery sector.

First of all, you need to have a clear understanding of the nature of the business. This includes understanding the various types of transactions that take place, as well as the different types of products that are traded. You also need to be aware of the various taxes that are applicable in this sector. GST is one of the most important taxes that you need to be aware of, as it is levied on all transactions in this sector. In addition, there are other taxes such as excise duty and import duty which are also applicable. It is also important to maintain accurate records of all transactions.

This includes both sales and purchases. You need to keep track of inventory levels, as well as receivables and payables. In addition, you also need to maintain records of expenses incurred in running the business .With all these factors in mind, you can see that accounting and bookkeeping in the Gems and Jewellery sector can be quite challenging. However, if you keep these points in mind, you will be able to manage your finances effectively and ensure compliance with all. 

Different types of bookkeeping and accounting methods used in gems and jewelry business:

Different types of accounting methods used in gems and jewelry business:

Single-entry
accounting

Double-entry accounting

Accrual basis accounting

Cash basis accounting

JEWELRY EXPORT INDUSTRY

Case Study

The importance of bookkeeping in gems and jewelry Exporters:

For gems and jewelry exporters, bookkeeping is crucial to the success of their business. Keeping accurate records allows them to have a clear understanding of their financial situation at all times. Having proper bookkeeping practices in place can help these businesses identify areas where they can cut costs and improve profitability. It also helps ensure that they are properly managing taxes and complying with regulations. Moreover, bookkeeping provides critical information for decision-making as it gives insights into which products or services are performing well and which ones need improvement. Without this data, it’s challenging to make informed decisions about investments or expansion plans.

In addition, precise bookkeeping ensures transparency between the exporter and its customers or suppliers. When there is a dispute over an invoice or payment history, having accurate records makes resolving the issue much easier. For a gems and jewelry exporter to remain competitive in today’s market requires careful attention be given to maintaining complete books of accounts, invoices, and receipts. By doing so not only will they safeguard against financial mismanagement but boost profits while ensuring compliance with industry rules and regulations.  

How does Meru Accounting help in maintaining a book of accounts?

Receivables Management in Gems and Jewelry Business:

In the gems and jewelry industry, receivables management involves keeping track of invoices sent out to clients, following up on overdue payments, and ensuring timely collections. This helps businesses maintain cash flow, reduce bad debt losses, and improve overall financial stability.  

Implementing effective receivables management practices require clear communication with clients regarding payment terms and deadlines. It also involves establishing processes for invoicing regularly, sending reminders for upcoming payments, addressing disputes promptly, and pursuing legal action if necessary.  

Proper record-keeping is crucial in receivables management since it enables businesses to monitor past due accounts accurately. By staying organized through accurate bookkeeping practices – firms can identify trends in late payments from specific customers or product lines—ultimately helping prevent future issues down the road.    

Maintaining healthy cash flow through efficient receivables management is critical for gems and jewelry businesses’ long-term success.

Receivables Management Considering Gold Prices:

The gems and jewellery industry has to deal with the changing prices of Gold in the international commodity markets. As the price changes, it affects the export business as well, and that makes it hard to manage receivables due to complex calculations. We at Meru Accounting carry out the accounting tasks related to it in a timely manner and with that managing receivables also become easy.

  Inventory Management:  
Inventory management is very essential and that too becomes a very serious task when inventory costs a mammoth amount. Understanding this need, we keep regular track of inventory and trade deals with our experienced team using the best accounting software that is suitable for our client’s business.  

  Manage Capital Cost:  
Capital cost is the major contributor to a company’s profit. Gems and Jewellery businesses are generally highly profitable businesses given only if one adequately amortizes the capital cost against the receipts. Accounting for Gems and jewellery Business, We have expert professionals to look after this requirement so that any kind of error can be avoided.

  Increase Profit:  
Every business has the aim to make a good profit at the end of a financial year. But that requires neatly crafted financial planning. Our aim is to generate a high-profit margin and budget the revenue accordingly. That leads our Gems and jewellery clients to leverage their export businesses without any worry. In addition to that, as this is an export industry, we also look after the tax compliances related to many countries to help our clients deal with it very easily.  

Best practices for receivables management in the gems and jewelry business:

Best practices for receivables management in the gems and jewelry business involve implementing effective strategies to ensure timely payment from customers. One of the most important steps is to establish clear payment terms with customers before any transactions take place. Additionally, it’s essential to have a robust invoicing process that includes accurate billing details, due dates, and accepted forms of payment. Providing multiple payment options such as credit card payments or online transfers can also make it easier for customers to pay their bills on time. Another best practice is to maintain open communication with clients and follow up regularly on outstanding payments. This helps build relationships based on trust and transparency while also ensuring that your business receives its dues promptly.  

It’s equally crucial to track accounts receivable closely and act quickly if there are any issues with late payments or non-payment. Establishing a collection policy can help streamline this process by outlining procedures for pursuing delinquent accounts.  

Investing in software tools such as accounting systems or customer relationship management programs can simplify receivables management tasks further while providing real-time insights into the financial health of your gems and jewelry business.  

However, it’s important to note that there are challenges associated with receivables management as well. From dealing with late payments to managing disputes over invoices, businesses need to be proactive in addressing these issues and finding solutions.  

A strong focus on effective receivables management can help gems and jewelry businesses not only improve their financial health but also enhance customer relationships through clear communication and efficient payment processes. By adopting best practices tailored to their specific needs, companies can successfully navigate this critical aspect of running a successful business.  

Conclusion:

Bookkeeping is an essential aspect of any business operation. As a gem and jewelry exporter, it is crucial to keep accurate records of all financial transactions such as invoices, receipts, and other important documents. By doing so, you can easily track your expenses and profits while ensuring that you comply with tax laws. Hiring a professional bookkeeper can help ensure that your books are kept up-to-date and accurate while allowing you to focus on running your business. Additionally, by keeping organized records, you will be able to make informed decisions about the future direction of your company. Remember that the success of any business depends on proper planning and execution. Therefore, always prioritize maintaining accurate books of accounts in order to achieve long-term success in the gems and jewelry export industry.

Hiring Virtual Accountant With Meru Accounting

Meru Accounting provides world-class services that cater to all the needs of cloud accounting and bookkeeping of your business.

We work on the best accounting software like Xero and Quickbooks, as well as add-ons that will make sure all your work is up-to-date.

Help you with switching from your traditional software to Xero and Quickbooks.

We also manage VAT, BAS, Sales Tax and Indirect taxes for you so you are always ready at the end of the financial year.

When you choose to outsource your accounting work with us, it benefits you in the following ways:

  1. 1. Cost-saving
  2. 2. Access to skilled and experienced professionals
  3. 3. Better management of books of accounts
  4. 4. Decreased chances of errors
  5. 5. Improve business efficiency
  6. 6. De-burdens in-office employee’s dependency
  7. 7. Better turnaround time

We work on virtual technologies like Team Viewer, Virtual Private Network (VPN) to share and access data from your system.
You have to share your accounting software login details.

Through that, we complete all of your work and update it on the cloud, so you can have access to your data from anywhere and at any time.

Software is not a barrier for us. Due to our strong and professional accounting knowledge, we can prepare your books in almost any of the accounting software.

Our experts are always all ears to listen to your queries regarding bookkeeping and accounting or our services. You can contact us anytime by visiting: Contact Us page.

 

We provide our bookkeeping services at the rate of US $10 per hour. So, you only need to pay for the amount of time actual work is done.

 

 

We take certain preventive measures to secure your data, like:

  • Cyberoam Firewall to prevent any kind of foreign threat.
  • Dual-step authentication
  • Implement anti-virus
  • Limit user access so that login details are with a few people.

Meru Accounting work on some of the best accounting software’s like:

  • Xero
  • Quickbooks
  • Netsuite
  • Saasu
  • Wave
  • Odoo

Along with that, we also work with many add-ons like Workflow Max, Receipt Bank, Slack, TradeGecko etc., to extend your software’s capacity and improved work experience.

To book for trial, call us on our numbers or Please fill out the form here.

Our Work Information

We have combined team of Professionals. Seniors are generally Certified Chartered Accountants. Junior Bookkeepers are having Qualifications like Bachelors of Commerce, Masters of Commerce, Masters in Business Administration in the subject of Accounts and Finance, Intermediate level Qualification of Chartered Accountancy, etc.

For information visit our work methodology page.

We prepare a checklist of information required for bookkeeping and send you at timely intervals so as to ensure that we can do bookkeeping faster.

 

We can provide to you once we move ahead in our interview.

We serve clients on MYOB and have expertise working in Essentials, Account Rights Plus, etc.

Yes, We are presently processing Payroll for Number of clients in US , UK and Australia and take care of complete payroll activities.

 

Goods and Service tax (GST) is levied on sales of all the goods and services in Australia. GST is generally chargeable at 10% of value of sales.

 

Business Activity Statement is a predefined form to be submitted to the Australian Tax office by all the business persons in order to report on their all the tax obligations during the period covered.

BAS is generally required to be filed quarterly by various businesses.

Individual Business Owners

Yes, Owner of the business can prepare sign and lodge the tax return on his own. Its not mandatory that the Tax return needs to be signed by an EA or CPA.

No , its not mandatory that it should be prepared by only CPA or EA. It can be prepared by anyone who has PTIN.

We have Enrolled Agent who has the Authority to sign the documents for our clients after completing the through professional check.

 

Meru Accounting has its operational centre in India and hence the prices are quite less as compared to US based CPA’s and Enrolled Agents.

 

Meru Accounting has a team of Tax experts. Each Tax expert prepares around 300-400 Tax returns every year for various CPA’s in United States and Individual Businesses like yours. Due to this vast Experience and Robust Quality Check processes in place we can ensure you about correct Tax planning for your firm.

 
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      Professional Services

      We Service All Types Of Industries

      Construction Industry

      Real Estate Industry

      Lawyers

      Advertising & Marketing Industry

      Physicians Doctors Physiotherapist Dentist

      Pharma

      Online/ ECommerce

      Nonprofit Organizations

      Franchise Business

      Amazon Sellers

      Rental Business

      Mining Industry

      Manufacturing Industry

      Information Technology & SAAS Based Companies

      Age Care/ Health Care/ Spa & Saloons

      Logistics, Transportation & Trucking

      Travel, Tourism & Entertainment Industry

      Trading /Brokers

      Power & Infrastructure

      Wholsale & Retail Industry

      Gems & Jewelry Retailer & Exporter

      Education

      Brick & Mortar Industry

      Professional Training Business

      Consultancy Business

      Aerospace Industry

      Financial Services

      Energy

      Restaurant & Hotel Business

      Professional Services

      Our Young and Dedicated Team
      JEWELRY EXPORT INDUSTRY

      Case Study

      Download

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      US Office (Florida)

      603 E Fort King St, Ocala, FL 34471, United States.

      US Office (Texas)

      10440 N Central Expy, Suite 800 Dallas, TX 75231 United States.

      US Office ( New York )

      26 Broadway 8th Floor, New York, NY 10004 United States.

      Global Production Team (India)

      902, Shivalik Tower, Nr. Panchvati Cross Roads, Ahmedabad, Gujarat 380009, India

      Our Office Address

      US Office (Florida)

      603 E Fort King St, Ocala, FL 34471, United States.

      US Office (Texas)

      10440 N Central Expy, Suite 800 Dallas, TX 75231 United States.

      US Office (New York)

      26 Broadway 8th Floor, New York, NY 10004 United States.

      Global Production Team (India)

      2nd, 3rd ,4th and 5th floor, Shanti Annexe, above Morima, opp. B.d.patel House, Sardar Patel Colony, Sundar Nagar, Naranpura, Ahmedabad, Gujarat 380006


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