Meru Accounting

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Bookkeeping For Mining Industry

With over 9+ years of experience, we are a trusted partner for accounting and bookkeeping services in the US. Whether you’re a startup, a small business, or an established enterprise, our services can meet the unique needs of your industry. Our deep understanding of US regulations and best practices can empower your financial journey and drive you toward long-lasting success!

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Business Tax return filing by Certified
CPA / Enrolled Agent (Starts at $350)

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50% Reduction In Costs

Bookkeeping for the Mining Industry in the US

The mining industry is one of the most lucrative sectors in the United States. This industry continues to provide enormous opportunities for businesses and investors, from gold and silver to copper and coal. However, with tremendous rewards come significant responsibilities, including the need for accurate accounting and bookkeeping practices.

Accounting and bookkeeping are critical components of the mining industry. They help in recording financial transactions, tracking expenses, managing cash flow, and providing insights into a company’s financial health. With proper accounting and bookkeeping practices, mining companies can make informed decisions based on real-time data.

In this, we’ll explore

So sit tight as we dive deep into the world of accounting and bookkeeping in the US mining industry!

How To Get Started With Accounting And Bookkeeping In Mining?

Getting started with accounting and bookkeeping in the mining industry can be overwhelming. Still, it’s crucial for running a successful business.

Getting started with accounting and bookkeeping in mining requires attention to detail and regular maintenance; however, once implemented correctly, it can help maximise profits while minimising losses due to errors or mismanagement!

The Types Of Accounting And Bookkeeping In The Mining Industry

The mining industry is a complex sector that requires efficient accounting and bookkeeping practices to accurately track financial transactions, comply with regulations, and make informed business decisions.

In the mining industry, various accounting and bookkeeping techniques are used to keep track of finances.

Bookkeeping also plays a crucial role in the mining industry. Bookkeepers ensure that all financial records are accurate by recording transactions such as payables/receivables processing, payroll management, and tax preparation.

In addition to these traditional forms of accounting and bookkeeping methods used within this extractive sector, new technologies have allowed for an expansion into utilising software solutions tailored specifically for their needs which provides additional benefits such as automation capabilities leading towards lower operational costs while increasing efficiencies across other relevant departments within these organisations.

How Accounting And Bookkeeping Help The Mining Industry?

Cost Tracking

Tax Compliance

Inventory Management

Operational Efficiency

Sustainable Growth

What Are The Benefits Of Accounting And Bookkeeping In Mining?

1. Accurate Financial Tracking

2. Regulatory Compliance

3. Cost Management and Profitability

4. Informed Decision Making

5. Operational Efficiency

6. Financial Transparency and Accountability

The Mining Life Cycle Can Be Broken Down Mainly Into The Following Stages

How  Meru Accounting Helps In The Mining Business ?

Meru Accounting provides a comprehensive analysis of the books of funds in the mining business to determine its viability and profitability.

Conclusion

Outsourcing these services to specialised firms is an excellent option for companies looking to improve their efficiency while reducing costs. By outsourcing these services offshore or domestically, companies can focus on their core business activities without worrying about accounting and bookkeeping tasks

As the mining industry continues to grow globally, organisations must adopt modern technologies like cloud-based software solutions to manage their finances better. Effective accounting and bookkeeping practices will ensure that businesses remain competitive in this dynamic sector.

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.

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

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

  • Cost-saving.
  • Access to skilled and experienced professionals.
  • Better management of books of accounts.
  • Decreased chances of errors.
  • Improve business efficiency.
  •  De-burdens in-office employee’s dependency.
  •  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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