Tipsyfly, a popular jewelry and accessory brand, partnered with us to enhance financial accuracy, achieve compliance, and streamline accounting, allowing them to focus on delivering trendy, affordable designs. Here’s how we supported their financial growth.
Tipsyfly
Industry: Jewelry and Accessories
Type: Privately Held
Tipsyfly is a well-established jewelry and accessory brand, founded by Aditi Motla, known for providing trendy, modern accessories at affordable prices. The brand’s unique designs have resonated with fashion enthusiasts across India, making it a go-to choice for young women seeking chic and stylish accessories.
Inaccurate financial records: Despite having an accountant, Tipsyfly struggled with incomplete and inaccurate financial reporting due to inconsistent bookkeeping practices.
Delayed reconciliation: The lack of regular reconciliation processes resulted in significant discrepancies during audits, risking penalties and fines.
Compliance issues: The company faced challenges in meeting regulatory and tax filing deadlines, causing potential legal risks.
Reconciliation of accounts: We ensured the company’s books were regularly reconciled, preventing discrepancies and ensuring up-to-date financial information.
Compliance and reporting: Supported the company in filing accurate tax reports and adhering to regulatory deadlines, reducing the risk of penalties.
Management information system (MIS): Implemented an MIS to provide real-time financial data for better decision-making and improved reporting accuracy.
Improved financial accuracy: Reconciliation processes improved the accuracy and timeliness of financial records, enabling more reliable financial decision-making.
Full compliance achieved: The company successfully met all tax and regulatory deadlines, avoiding penalties and fines.
Operational efficiency: Streamlined accounting practices allowed Tipsyfly to focus on core business growth, with financial operations managed effectively. der.
Improved financial accuracy: Reconciliation processes improved the accuracy and timeliness of financial records, enabling more reliable financial decision-making.
Full compliance achieved: The company successfully met all tax and regulatory deadlines, avoiding penalties and fines.
Operational efficiency: Streamlined accounting practices allowed Tipsyfly to focus on core business growth, with financial operations managed effectively.
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