Shubham Shrivastava

Accounting & Bookkeeping - QBO Pro Advisor and Xero certified

1. System Setup and Management

• Software Setup: Setting up books in QBO, Xero, Brightpearl, Zoho and other accounting software.
• Conversion & Chart of Accounts: Conversion of books from one package to another, and setting up a Chart of Accounts tailored to the business.

2. Transaction Processing and Reconciliation

• Categorization & Bank Rules: Categorization of transactions, creating bank rules, and similar tasks.
• Raising Bills & Invoices: Raising bills, creating invoices, and recording journal entries.
• Class-Wise Accounting: Performing class-wise accounting for detailed financial analysis.
• Reconciliation: Performing bank & credit card reconciliations, vendor and customer reconciliations, and reconciliations of sales platforms like Amazon, Shopify, and Stripe (including fee bifurcation).
• Inventory reconciliation and recording. Used 3rd party websites likes Dear, Unleashed for inventory tracking
• Sending Financial Documents: Sending invoices and bills to customers and vendors directly from accounting packages.
• Proficient in handling Real Estate clients and theirs tasks like - Recording Property manager statements, Recording HUD's, Reconciling escrow accounts, Analysing and Recording rental incomes from multiple websites like Airbnb, VRBO etc
• Expert in handling Travel Agency clients - Expert in reconciling the actual revenue as per their date of journey, knows how to reconcile the travel agency portals with accounting packages
• Expert in handling Lawyer's/Attorney's - Expert in reconciling IOLTA accounts
• Expert in handling crypto bookkeeping - Proficient in handling different types of wallets like Coinbase etc and recording them properly in books. Recording the realized and Unrealized gains useful in tax reporting, Handling NFT's etc

3. Tax Management and Reporting

• Country-Wise Taxes: Handling proper accounting of country-wise taxes (VAT, Sales Tax, GST, etc.)
• Accounts Receivable & Payable Management: Managing Accounts Receivable and Accounts Payable for efficient cash flow.
• Government Reporting: Preparation of notices and documents as per the checklist to Government.

4. Financial Reporting and Analysis

• Creating Budgets for client for their cash flow analysis
• Customized Reports: Generation of customized reports for better understanding of the financial health of the business.
• Review & Tax Preparation: Finalizing and reviewing books to ensure they are tax prep ready.
• Auditing of books before the tax preparation

Taxation

1. United States (US)

• Tax Return Preparation: Preparation of various US tax returns, including 1040 (Individual), 1065 (Partnerships), 1120S (S Corporations), and 1120 (C Corporations), 1040's including Sch C, Sch E's
• FBAR - Prepared and helped in filing foreign asset declaration form
• 1099 & Payroll Forms: Calculation, preparation, and filing of 1099 forms and payroll-related forms.
• Loan & Credit Applications: Preparation of applications for PPP loans and other SBA forms.
• Employee Retention Credit: Calculation of Employee Retention Credit as per rules and regulations.

2. United Kingdom (UK)

• VAT & Corporation Tax: Preparation and filing of quarterly VAT returns and CT600 forms (Corporation Tax).
• Company House Filings: Preparation and filing of annual accounts and confirmation statements to Companies House.

3. Other Countries (e.g., Australia, Canada)

• BAS & GST Returns: Preparation and filing of BAS forms (Australia) and GST returns (Canada/other countries).

Other General tasks achieved -

• Collaborated with clients to define project requirements and deliverables.
• Adapted quickly to changing project requirements, demonstrating flexibility and adaptability under pressure.
• Developed customized solutions to address unique client needs, resulting in repeat business and referrals.

1. Tax Return Preparation and Client Strategy

• Processed over 300 individual and business tax returns annually.
• Developed tax minimization strategies for clients, resulting in significant tax savings.
• Created comprehensive tax strategy plans (700-800 pages) tailored to client needs.
• Collaborated with clients to optimize tax strategies, minimizing their tax burden.
• Having knowledge of multiple US tax strategies and ways of implementing them

2. Tax Knowledge Training and Client Support

• Mentored and trained junior staff on tax preparation techniques and effective client communication.
• Provided ongoing guidance to clients on bookkeeping and resolving tax issues.
• Assisted clients in navigating complex situations, including FBAR and entity classification forms.
• Successfully resolved IRS inquiries and disputes on behalf of clients.
• Hosted and provided valuable guidance on specified topics on live webinars

3. Comprehensive Tax Return Expertise

• Prepared a wide variety of tax returns, including 1065 (partnerships), 1120S (S corporations), 1120 (C corporations), and 1040 (individual) forms.
• Supported internal sales teams in analyzing potential customers' financials for closing deals.
• Reviewed client books and identified discrepancies and helped client fix them before preparation of tax return
• Prepared multiple quarterly estimates & extension estimates for client over the span of 4 years
• Collaborated with cross-functional teams to develop and execute strategic initiatives aligned with organizational objectives.
• Led brainstorming sessions, fostering a culture of innovation and creative problem-solving within the organization.
• Optimized resource allocation by prioritizing initiatives based on their potential impact on overall business performance.
• Collaborated with team members to ensure a seamless experience for both new and returning clients.
• Engaged in continuous process improvement efforts that led to more efficient workflows saving both time and resources.

• Handled a team of 15 members
• Performed bookkeeping in various software's such as Quickbooks, Xero, Reckon, Quickbooks Desktop, Freshbooks etc
• Audited and finalized the financials of various companies based in US, UK, Australia, Singapore such as ASE Solar Inc., Xblades Racing Ltd, Walk With Path, Party People Entertainment, 301 Capital Partners Inc, and many more
• Prepared and filed VAT returns for many companies based in UK
• Prepared and files Sales Tax returns of various states in US
• Prepared BAS reports for companies based in Australia
• Prepared and filed Federal and personal income tax returns (1040,1065,1120S) of companies(C-Corps, S-Corps), partnership firms and individuals
• Prepared and filed 1099 form for various companies
• Prepared supporting financials and documents to apply for competition and grants in UK
• Generated Payroll reports for various companies based in US
• Worked on Amazon merchants of various countries such as UK, US, Mexico, France, Italy etc
• Finalized books of companies having business in multi currency
• Improved team efficiency by streamlining processes and implementing innovative management strategies.
• Created reports and analyzed and interpreted data.
• Performed class wise and project wise accounting of companies having diversified projects/businesses
• Worked on real estate companies based in US.

• Performing tax audit on medium sized & large sized A/c of average sized complexity within the organization
• Verification of proper recording of accounting entries, voucher and petty cash book
• Interpretation of taxation statutes
• Assisting the Audit Accountants
• Filing of T.D.S., Income tax, RoC and VAT Returns
• Helping in finalizing audit report with the organization & the principal
• Perform other duties as assigned
• Maintain all required paperwork according to required policies and procedures.
• Developing a familiarity with the organization and the functions of the unit to be audited
• All Voucher Entry verification made to Tally
• Filing of T.D.S
• And Income Tax Returns
• Stock Maintenance & Verification
• Documentation related to Statutory Audit
• Presentation of Financial Reports

• During my articleship, I gained exposure in Statutory Audit, Finalization of Balance Sheet and Tax Audit of some corporates like: Bravo Cat Security Services Pvt Ltd., Renaissance Archconsultant Pvt Ltd., Numguru Technologies Pvt Ltd., Nandi Garments Pvt Ltd., Rajdhani International Pvt Ltd., Tanya Paper Distributors Pvt Ltd.

I also gained exposure in

• Preparation of Computation of Income and Income Tax Returns
• Preparation of submissions against notices received from the income-tax authorities during the assessment and appeal proceedings
• Projecting tax liability and calculation of advance tax payable
• Tax audits
• TDS compliance
• Tax planning
• Statutory Audit
• Statutory audit of Private Limited companies engaged in trading and manufacturing businesses
• Provided Consultancy regarding Income Tax matter and Company related matter under the guidance of my principal
• RoC Compliances - Filing, Documents Preparations etc
• Individuals Accounting & Income Tax Return
• Ascertaining the Service Tax Liability on a Quarterly Basis
• Preparation and filing of Service tax returns.