End-to-End Accounting for US & India Entities— Shared Service Center Setup for a BFSI
Scaling Multi Country Finance Operations with Speed & Precision
Accounting, Taxation, Payroll and US-GAAP Reporting
Project Snapshot — What we Delivered
A US-based financial services firm planned a captive legal entity in India to centralize back-office accounting and reduce costs.
The client needed an experienced partner to handle end-to-end accounting for the newly incorporated Indian captive, and — eventually — for their US entity as well. Internal teams and local expertise were not yet in place, and the client sought a cost-efficient, compliant solution that could scale quickly.
Impact at a Glance
The partnership between MYND and the client delivered measurable business impact that went beyond cost savings. From long-term stability to operational scalability, these numbers highlight the tangible value achieved.
6+ years
Ongoing partnership
60%
Cost saving vs US consultant-
Client was paying more to local consultant in US
3 Members
Dedicated SSC team
ERP- QuickBooks
Primary accounting platform
Scope
Accounting • Taxation • Reporting • Payroll • Compliance
Key Challenges that Client Faced
Before partnering with MYND, the client faced multiple roadblocks in establishing a reliable finance and accounting framework across their US and India entities. These challenges highlighted the need for a trusted outsourcing partner.
Entity Incorporation & Compliance
Incorporation and India-specific statutory compliance needed immediate attention.
No in-house F&A team in India
Lack of established in-house expertise for accounting, taxation and reporting across jurisdictions.
Cross-jurisdiction reporting
US entity accounting required US GAAP compliance and tight control over financial reporting
High cost of US-based consultants
Client wanted cost efficiency without sacrificing compliance.
Need for scalable, SLA-driven delivery & single SPOC
Need for a scalable, SLA-driven delivery model and single point of contact to reduce coordination overhead.
Our Solution
MYND’s approach — from Incorporation to Ongoing SSC Operations
MYND delivered a structured, SLA-based SSC solution: incorporation & compliance, accounting set-up, US GAAP reporting, payroll and ongoing controls — operated from Hyderabad with a centralized SPOC.
Entity Setup & Compliance
We managed the incorporation process for the captive unit in Hyderabad and completed all India-specific statutory registrations and filings. This established the legal and compliance foundation required for ongoing accounting and payroll operations.
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End-to-end Accounting — India & US
MYND started by taking full ownership of the captive unit’s accounting. On consistent delivery and control, MYND was later awarded the US Entity Accounting as well. The configuration included accounts alignment, month-end close workflows, reconciliations, and remote collaboration with the client’s finance leads.
US GAAP & reporting
We implemented US-GAAP–aligned processes and reporting packs, ensuring the US entity’s financials met the client’s external and management reporting needs. Deliverables included consolidated schedules, reconciliations, and a US-ready close calendar.
SLA framework & single SPOC
All services were delivered under defined SLAs and a single centralized SPOC to streamline communications, escalation and governance. Monthly KPI reviews and quarterly control audits were part of the engagement
Technology & tools
ERP: QuickBooks for day-to-day accounting and reporting. MYND used best-practice templates, standardized checklists and secure file exchange to maintain control and audit readiness.
How we Rolled it out — Milestones
MYND simplifies what holds you back. By combining domain knowledge with next-gen tech.
We take on the heavy lifting—whether it’s global payroll processing, receivables, or audits—so you can focus on driving impact.
Entity Setup & Compliance
MYND completed incorporation and India statutory registrations to create the legal captive entity in Hyderabad.
Accounting Setup for the Captive
QuickBooks configuration, chart of accounts, SOPs and month-end workflows were established for the India entity.
Stabilization & Quality Controls
Reconciliations, first month closes, and control checklists were completed to ensure audit readiness.
US Entity Onboarding
After consistent delivery, MYND took over accounting for the US entity and implemented US-GAAP aligned reporting packs.
Ongoing Improvement
SLA monitoring, periodic QA, taxation, payroll runs, and scalability for increased transaction volumes.
Results Achieved: MYND’s Finance & Accounting Outsourcing
Driving efficiency, compliance, and savings for sustainable growth
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