We Are Professional

Cosmic is a remote offshore accounting outsourcing service provider in the vertical of Finance and Accounts. We provide Bookkeeping and Accounting Services to CPA/CAs’ and small & mid sized enterprises in USA and Canada. Cosmic provides comprehensive accounting and finance outsource services to small and mid-size companies allowing owners and/or senior management more time to focus on the growth of their business.

By providing access to high-level accounting services at low cost, clients achieve savings in hard dollars but also in soft costs, such as spending less time on accounting and finance tasks.

Our Basic Accounting Management Services package is designed to complete your daily financial record-keeping tasks as well as your month-end closing tasks, followed by preparation of monthly financial reports and analysis of your business.

We provides Just-In-Time-Accounting, you pay for what you need, when you need it. No need to incur high fixed overhead for services you can get at a fraction of the cost. Please call us for a free initial consultation.

We are a new age business process outsourcing organization, which is highly focused on utilizing the potential of human intelligence and technology to provide powerful employee leasing and recruitment solutions to enterprises. We make it our highest priority to understand our customer's enterprise and its resource needs.

Bookkeeping Services -QuickBooks

  • General Accounting - QuickBooks
  • Maintain Chart of Accounts
  • Posting Nominal Ledgers
  • Post data into Day Books
  • Trial Balance Reports Generation
  • Establish Closing Schedule
  • Perform Monthly, Quarterly and Year-end closings
  • Maintaining Account receivables and Payables
  • Fixed Asset Accounting - QuickBooks
  • Classify, capitalize and record fixed assets items and capital expenditure.
  • Depreciation Calculations

  • Accounts Payables - QuickBooks
  • Invoice Processing
  • Client-approved Vendor Invoices Processing
  • Client's input based Negotiated Price Items verification
  • Client's input based Price and Quantity Discrepancies resolution
  • Client-approved Vouchers posting
  • Other client-approved Charges Processing
  • Maintain files to support Invoice Processing
  • Centralized customer invoice control
  • Prompt customer invoice generation
  • Customer account reconciliation
  • Automated customer statement generation
  • Banking of customer receiptsImproved cash flow with quicker customer settlement
  • Accounts Receivables - QuickBooks
  • Record and Account for Revenue
  • Prepare client's Bills and Statements
  • Credit and Collections
  • Input Receivable Transactions
  • Journal Entries Verification
  • Send out client-approved End-customer Bills and Statements
  • Maintain Standard Pricing Information
  • Maintain End-customer Receivables
  • Client-approved Adjustments Processing
  • Apply cash received to customer accounts and resolve "Short Pays"

  • Management Reports and Financial Analyses- QuickBooks
  • Preparation of Projected Revenue, Expenses and Cash Flow
  • Preparation of Financial Budgets, guidelines and assumptions
  • Variance and Ratio analysis' reports comparing actual results to budget
  • Provide monthly, quarterly and annual Income Statement, Balance Sheet, Cash Flow Statement compared to budget and/or previous period
  • Provide monthly analysis of business' performance by unit
  • Provide any other financial report required by the Client's for Banks and Financial Institutions
  • Reconciliation - QuickBooks
  • Provide reconciliation of Inter-company and Intra-company Transactions
  • Reconcile Fixed Assets and associated Ledger Entries
  • Reconcile Accounts Receivables
  • Reconcile Accounts Payables
  • Reconcile Bank AccountsReconcile Credit card

US Tax

  • We have experience and expertise in processing 1040, 1120, 1120 S, 1065 & 1041 tax returns.
  • We expertise in most of the popular Tax softwares including Lacerete, Ultra Tax, ProSeries, Drake Software, Prosystem FX, CCH, TaxWorks, TaxWise, Turbo Tax, ATX, Go-system.
  • We do the entire Tax Processing work remotely from India.
  • We have developed an in-house proprietary Document Management System (DMS) which is very user friendly. The DMS allows easy transfer of the source documents (Digitally) unlike conventional FTP & Email methodology. You get to move your documents as easy as moving it to your next cabin!
  • We have a comprehensive 5 stage process for the Tax compliance works that gives total quality control.
  • The tax preparer is not a data entry operator he / she is well qualified and experienced tax preparer.
  • The turn around time is between 24 to 48 hours.
  • Constant contact with your India staff for support and problems.

provides profiled Offshore Programming, IT Consulting, Technology Research Teams for development of Custom Business Applications and Software Products.

Key Areas

  • Design, Development and Support of Business Software Applications.
  • Ecommerce and Web based Application Development and Maintenance.
  • Legacy Software Re-Engineering, Re-Development and Support .


Success of a Software Project greatly depends on the project team expertise in the Customer Business Domain.

  • Wealth Management Portal - USA
  • eCommerce Shopping - UK
  • News Letter Reporting System - France
  • Order Management System - USA
  • Content Management System - NZ
  • Tourism Websites Chain - USA
  • Document Management Software - USA
  • Health Accessment Tool - NZ

Domain Expertise

Cosmic has vast experience in developing and supporting Software Applications in the following Business Verticals:

  • Banking, Insurance & Financial Services
  • Healthcare, Pharma & Life Sciences
  • Infrastructure
  • Media & Entertainment
  • Real Estate & Construction
  • Retail
  • Telecom
  • Travel & Transportation

IT Expertise

Programming/Scripting :

C++, C#, VB.NET, Java, JSP, ASP.NET, ASP, AJAX, PHP, Ruby, HTML, DHTML, VBScript, JavaScript, XML, XSLT

Technology Platforms :

.NET, J2EE, J2SE, J2ME, SAP, Lotus, Navision

Programming/Scripting :

Microsoft Share Point, Exchange, Biz Talk, Dynamics, IBM WebSphere, Portal Server, BEA


  • Application Development and Maintenance
    •       Application Development
    •       Application Maintenance
    •       SLA Based Production Support
  • Business Intelligence and Data Warehousing
    •       Data Mining/Web Mining
    •       Customer Data Analytics
  • Business Process Management (BPM)
  • Content Management
  • e-Business & Web Services
  • Testing Services

Paperless Overnight Workflow Management System

Cosmic document management system is designed to help individuals, workgroups and large enterprises to manage their documents stored in electronic form. Document management systems provide a means to store, easily locate and retrieve, and exercise control over document-based information through the document's life cycle within the context of a group or large organization. It often includes a workflow component that routes documents to the appropriate users.

The automatic routing of documents to the users responsible for working on them. Workflow is concerned with providing the information required to support each step of the business cycle. The documents may be physically moved over the network or maintained in a single database with the appropriate users given access to the data at the required times. Triggers can be implemented in the system to alert managers when operations are overdue.

The manual flow of documents in an organization is prone to errors. Documents can get lost or be constantly shuffled to the bottom of the in-basket. Automating workflow sets timers that ensure that documents move along at a prescribed pace and that the appropriate person processes them in the correct order.

Cosmic WFMS (Workflow management System) can help firms to reap benefits by improving productivity, becoming more responsive to clients and lowering operating costs.

Product Features Key features of COSMIC WFMS

  • Quick and easy access to documents and data in a single view
  • Control multiple document types
  • Full document / Saved / Page search facility
  • Document check-in, check out facility
  • Complete reporting and analysis facility: Numerous reports are provided on process performance, work flow information, time taken for completing the task e.t.c.,
  • Easy to use
  • Error-free data capturing
  • Upload files existing files to the database
  • Import and Export documents along with indexing data
  • E-mail documents with a single click


Cosmic is also a local partner of 8020 Accounting Systems LLC, USA and provides QuickBooks training in India.

After the techies, it is now the turn of the finance professionals to strike it big in KPO. Also for those who are migrating to US. Our training program equips them best.

We offer a comprehensive industry-oriented training (with hands-on sessions) on

  • Latest versions of QuickBooks 2018 (widely used accounting software in USA).Click here
  • Leading US Taxation software (including US tax Concepts).

Our training program

  • You would not want to miss if you are a Commerce Graduate / CA / Accounting Professional planning to pursue global opportunities.
  • Aims to comprehensively impart current best practices, standards and processes in US accounting and provides hands-on experience on QuickBooks / US Taxation software's.
  • Equips you with the expertise to explore the emerging outsourcing opportunities in financial accounting.
  • Conducted by Cosmic team trained by 8020 Accounting Systems LLC, America's Largest QuickBooks Trainer.

Cosmic is the best place for Quickbooks training..!


The program addresses in detail the US Accounting Standards, US Taxation concepts etc. Comprehensive hands-on training on QuickBooks and US taxation concepts and software.

Yes, you will get to work on the software during the training.

You should have a sound background of accounting for you to benefit from this training program. Of course, you must be willing to learn more about US accounting processes and the software tools used in USA.

You will have to attend this training program to get certified by Cosmic, Bangalore (local partners of 8020 Accounting Systems, USA). This will further equip you to take the QuickBooks Certification program conducted by Intuit, the company that has developed QuickBooks software. 8020 Accounting Systems is a largest trainer of QuickBooks in the US with around 200 Certified Public Accountants (CPAs) associated with the company. To know more about 8020 Accounting Systems visit

The training program covers training on QuickBooks (widely used accounting Software in the US), US Accounting Standards & US Taxation, which are US-centric. Of course, there is also the KPO opportunity you can explore.

Sure, there are several companies around. These include some of the best-known names in the Indian IT industry such as E & Y, OPI, E-mphasis, Suprep, Accenture and many more.

Back Office Processing (BOP) or Knowledge Process Outsourcing (KPO) is one of the key growth segments in IT today. Across the world, Financial Outsourcing is emerging as a key segment. The key to success in this segment is quality, the reason why we are conducting this training program and insisting on a certification.

The financial outsourcing market is around $ 300 billion. According Nasscom, India is estimated to garner a share of more than10 % in this segment.

Payroll Administration

  • Payroll Set-up.
  • Set up Payroll Items like, Hourly rate, Salary and Wages.
  • Set up Payroll Withholdings like, Federal Withholding, Social Security and Medical Insurance.
  • Create Employees and designate them whether the pay check is issued on a weekly, biweekly or monthly basis.
  • Track Employee Time Sheets.
  • Create Paychecks directly or Through Time Sheets.
  • Generate Payroll liabilities (Taxes) due to the IRS.
  • Prepare 941 Tax returns/ Forms.
  • Generate Payroll reports on weekly, biweekly and monthly basis.

Engineering solution- Civil and Architectural works

We provide the Complete Engineering solution for the Civil and Architectural works which includes:

  • Developing 3D models from the architectural sketches.
  • Generation of General Arrangement drawings and Isometric views.
  • Extracting the BOQ of Walls, Roofs, Windows, Doors, Fittings, MEP details, Building management system etc.
  • Cost Estimation
  • Developing the component drawings for Roofing, walls, windows, MEP services, Fittings, Piping etc.
  • Providing the Fabrication and installation details
  • Providing the Installation manual.

Data Processing Services

Cosmic provides a wide range of data processing services to our clients from different business sector. You choose the platform, the software and the way in which the information will be used. We do the rest.

Legal Firms:

  • Transform your deluge of legal documents and data into an efficient user-friendly electronic database.
  • We have skilled staff who are dedicated to legal coding, have a thorough understanding of legal terminology and documentation and are able to review documents and locate specification requirements both efficiently and accurately.
  • Our data conversion technique is compatible to all major legal proprietary software formats. By offering flexible service options, we work in partnership with you to find the level of support that most closely matches your business needs.

Inbound Call Center Service

Cosmic can provide in-depth customer service support 24 hours per day. we offer flexible resources and operational process implementation to clients

  • Order taking
  • Insurance care services
  • Credit card orders
  • Database Management.

Outbound Call Center Service

We have an effective list of service offering specializing in Outbound solutions including:

  • Sales
  • Up selling / Cross selling
  • Appointment Setting
  • Mail Follow Up
  • Service & Market research
  • Save time & money

The following are the basic analysis done by the underwriter / loan processor to assess the mortgage application.

Credit Worthiness:

For businesses less than three years old, personal credit of principals will be evaluated. This may hold true for longer periods of time for tightly held companies. For corporations, business performance and credit rating will be evaluated with a proven track record.

Property Analysis Fair Market Value and Fair Market Rent will be analyzed. Special use property may require additional underwriting. Age, appearance, local market, location, and accessibility are some other factors considered.
Credit Score:

Most loans on the market today are credit score driven with the exception of FHA(one of the best loan programs on the market for people with minor issues that lower scores) and a very few non-conforming loans. Credit scores range from 300 to 850. A rule of thumb: The higher we score, less risk, lower interest and less down payment required. Lower scores could require a larger down payment and could have higher interest.

Credit scores are just one factory but here is the basic break down for loan qualifications:

A score of 620 and above will get us into a conventional conforming loan with the lowest rates available (Fannie Mae and Freddie Mac). These rates are 1% above the 10 year T-Bill.

In the non-conforming market, credit scores will determine our interest rate. We may be in this market for many reasons, not just score. It could be because; our loan amount exceeds conventional guidelines, the house does not qualify, nod down payment, high debt ratios, credit history issues, or you could be self employed and don't show enough income to qualify.

Credit scores above 620 will get us the best rates in this market which is 1 to 2 points higher than the conforming market, depending on the type of loan we are getting.

Scores from 580 to 620 could put us as much as 3 to 4 points higher in rate, and we can still qualify for a zero down program.

If our score is below 540 we will need at 20% down payment and the rate will be 4 or more points higher.

Down Payment Guidelines:

The main thing to remember here is that our down payment has to be "Sourced and Seasoned". It means the lender wants to verify that it is indeed our funds and they want to see it in an institution for at least three months. We will have to show three months bank statements. If we have $20000 under our mattress, we cannot use it for down payment.

Exceptions to every rule!! Well, FHA will allow mattress money if we can prove that we do not use banks for checking and savings and operate on a cash only basis.(No credit either) There are also a few non-conforming loans that do not source or season the funds. And, of course there are programs that allow Gifts for down payments but those funds usually have to be sourced too.

Non- Conforming :

It is quite common to get 100% financing in this market. Some lenders have more than 100% financing. Of course rates are higher because the risk is higher, and these programs are credit score driven. A score lower than 580-600 will usually require a down payment and the lower the score the larger the down payment.

Financial Analysis :

A key component in making an underwriting evaluation is the debit coverage ratio (DSCR). The DSCR is defined as the monthly debit compared to the net monthly income of the investment property in question. Using a DCR of 1:1.10 a lender is saying that they are looking for a $1.10 in net income for each $1.00 mortgage payment. Typically they will determine the DCR ratio based on monthly figures, the monthly mortgage payment compared to the monthly net income. The higher the DCR ratio is the more conservative the lender. Most lenders will never go below a 1:1 ratio (a dollar of debt payment per dollar of income generated.) Anything less than 1:1 ratio will result in a negative cash flow situation raising the risk of the loan for the lender. DCR's are set by property type and what a lender perceives the risk to be. Today, apartment properties are considered to be the least risky category of investment lending. As such, lenders are more inclined to use smaller DCR's when evaluating a loan request. Make sure that we familiar with a lender's DCR policy prior to spending money on an application. It is feasible to ask them the preliminary review of the investment property that we want to purchase.

Loan to Value:

Unlike residential lending, commercial investment properties are viewed more conservatively. Most lenders will require a minimum of 20% of the purchase price to be paid by the buyer. The remaining 80% can be in the form of mortgage provided by either a bank or mortgage company. Some commercial mortgage lenders will require more than 20% contribution towards the purchase from the buyer. What a bank/lender will do is subject to their appetite and the quality of the buyer and the property.

Loan to value is the percentage calculation of the loan amount divided by purchase price. If we loan what a lender's LTV requirements are, we can also calculate the loan amount by multiplying the purchase price by the LTV percentage. We should always keep in mind that the purchase price must also be supported by an appraisal. In the event that the appraisal shows a value less than the purchase price, the lender will use the lower of the two numbers to determine the loan that will be made.

Debt to income ratios:

Debit to income ratios are the calculations underwriters use to determine whether a borrower can qualify for a mortgage. They are used to determine if we have the capacity to repay our mortgage. There are two calculations. The first of Front Ratio is our housing expense-to-income ratio. This is to say our proposed mortgage payment (principle, interest, taxes and insurance) divided by our gross monthly income. The second or Back Ratio is our total monthly obligation-to-income rations. This is our gross monthly payment including mortgage PITI divided by our gross monthly income.

Today's business world demands highly qualifies underwriter to render accurate work with least turn around time. We at Cosmic have a team of highly qualified & well trained underwriters. Our team professionals have undergone a rigorous and continuous training by the US bankers and have attained a thorough understanding on the entire business both the simple Residential Loan processing as well as the complex Commercial Underwriting. The entire ream have been trained to do the processing and underwriting manually which effectively means the team can seamlessly integrate with handle any kind of automated process. The Cosmic team of professionals knows the high value of accuracy and time and strictly adheres to it. Cosmic has developed a highly efficient Document / Process Management System that allows easy and secure flow of the documents from the US Bank / Borrower to the offshore team. Please find below the outline of the commercial underwriting process followed in Cosmic.

Sources & Uses:
  • The purpose of the sources and users is to set out the basis of loan i.e. loan amount, purchase price, closing cost and down payment.
Payment Calculation:
  • In most cases there will be 2 loans one variable and one a SBA fixed rate loan.
Collateral Summary:

This is basically to indicate the details of the property and the portion of loan taken against the cost of the property.

Financial Analysis :
  • Review the Form 1040 or 1120 or 1120S or 1065 and pick up the gross revenue, Net income before tax, depreciation/Amortization interest expense and Non- recurring expenses.
  • The cap rate is calculated.
  • Once this is calculated then we will derive the Debt service ratio.
Global CF Analysis:
  • The reference documents will be mostly the tax returns of the borrowers & Company.
  • or Net operating income review the Form 1120 or 1120S or 1065 and pick up the Net income before tax, depreciation/Amortization interest expense and Non- recurring expenses.
Personal Financial statement:
  • This is a personal Balance sheet of the borrower's assets and liabilities.
  • In the PFS you will be able to determine his present liabilities to add on the Present loan taken and the amount of cash in hand for down payment.
Why Outsource

Key Benefits of Outsourcing Accounting

  • Focus on your core activities by passing on your Accounting problems to us.
  • Enjoy economies of outsourcing and increase your bottom-line. Our clients enjoy nearly 40-50% savings in costs of maintaining accounts locally.
  • Availability of accurate accounting data at any time as we have adopted excellent quality/testing procedures, data backup etc.

What is Outsourcing?

It is a specialized service wherein a responsible provider manages an entire business operation or business function including support staffing and information technology, to improve business performance and increase shareholder value.

Consider the following research findings:

77% of Fortune 500 companies currently have efforts underway to outsource some aspect of their business support services. The top 400 growth companies declare they currently outsource several business functions.

Worldwide revenue for outsourcing will continue to grow at 15% to 20% in the foreseeable future. The user typically realizes cost savings of 10-30%.

Why Outsource?

These facts demonstrate that the outsourcing of customer service programs is growing at a fast rate. Companies are concluding that there are some activities they can do more profitably than others. Thus, as a call center is an important ancillary activity, the most efficient decision in nearly every case is to outsource.

A professional outsource partner can give your company customer care that's superior in terms of cost, control and quality.


24 hours. That's all it will take you to figure out the cost benefits of outsourcing!