XERO ACCOUNTING SERVICES FOR BIOTECHNOLOGY
Algebraa Business Solutions Private Limited provides a specialized, technology-driven accounting framework for the Biotechnology industry, powered with complete automation through Xero Software. We support biotech research companies, pharmaceutical innovators, clinical laboratories, medical device developers, contract research organizations, and biomanufacturing units with precise financial systems built for regulatory compliance, cost control, and scientific growth. Our services deliver financial clarity, risk reduction, and investor-ready transparency—aligned with IFRS, GAAP, and IAS reporting standards—to strengthen research outcomes, commercial expansion, and long-term sustainability.
Advanced Financial Systems Designed for Biotechnology Operations
Biotechnology organizations operate in a unique cost environment shaped by research cycles, clinical studies, regulatory requirements, raw material sensitivity, and intellectual property development. Our accounting structure ensures complete financial oversight, from laboratory expenditure to production costing and global reporting
Key advantages include:
- Automated end-to-end accounting
- Transparent cost tracking for research and development
- Strong inventory control for reagents, samples, and critical supplies
- Audit-ready compliance aligned to industry regulations
- Strategic financial insights that support scientific and commercial decision-making.
Day-to-Day Accounting in Xero with High Accuracy
Biotech accounting requires precision, timeliness, and robust documentation. We manage all day-to-day financial operations in Xero to ensure continuous accuracy.
Our daily accounting services include:
- Recording vendor bills for lab chemicals, reagents, consumables, and equipment
- Customer invoicing for biotech products, testing services, licensing, or collaborations
- Recording grants, research funding, and project-wise utilization
- Bank reconciliation, expense allocation, and cost-center tracking
- Posting journals for R&D costs, labor expenses, and production adjustments
- Real-time dashboards enabling complete financial monitoring
These systems ensure that research teams, management, and investors have clear visibility across financial flows.
Specialised Costing Systems for the Biotechnology Sector
Biotechnology costing requires precise classification of research expenditures, trial expenses, lab consumables, and commercial production cycles. We build costing architecture in Xero to match both scientific and financial needs .
Our costing solutions include:
- R&D costing with segregated project budgets
- Job costing for clinical trials, sample testing, and contract research
- Batch and process costing for biomanufacturing
- Overhead absorption for lab operations, equipment usage, and utilities
- Variance analysis for materials, reagents, labor, and production cycles
- Margin analysis for pharmaceutical and biotech products
This enables organizations to maintain cost discipline and support regulatory submissions with accurate financial records.
Inventory & Sample Management with Absolute Precision
Biotechnology costing requires precise classification of research expenditures, trial expenses, lab consumables, and commercial production cycles. We build costing architecture in Xero to match both scientific and financial needs.
Our inventory accounting includes:
- FIFO valuation for all biotech materials
- Batch tracking with expiry and shelf-life monitoring
- Multi-location storage tracking (cold rooms, freezers, labs, production units)
- Sample utilization records for trials, experiments, and tests
- Minimum stock alerts, purchase planning, and wastage control
- Reporting for expired, quarantined, or rejected items
These systems improve operational efficiency, reduce costs, and ensure compliance with scientific and regulatory standards.
GST, Taxation & Regulatory Compliance
The biotechnology industry operates under complex regulatory frameworks and frequent audit requirements. We ensure complete financial compliance through Xero.
Our compliance services include:
- GST computation, reconciliation, and return filing
- TDS/TCS compliance and statutory registers
- Documentation for government grants and research funding
- Support for regulatory audits and inspections
- Financial statements aligned with IFRS, GAAP, and IAS
- Assistance in regulatory submissions that require financial verification
This protects biotech organizations from non-compliance risks and strengthens credibility with regulators and investors.
Payroll & Labor Accounting Tailored for Scientific Teams
Biotechnology companies manage diverse talent pools — scientists, researchers, lab technicians, production teams, quality assurance, and support staff .
Payroll services include:
- Structuring salaries for scientific and technical personnel
- Overtime, shift allowances, and project-based pay
- Stipend management for research fellows
- Contract labor accounting for lab and production units
- Statutory compliance for PF, ESI, and other contributions
- Payroll MIS for manpower planning and cost optimization
These systems support transparent labor accounting and strengthen budget planning.
Fixed Asset & Laboratory Equipment Accounting
Biotechnology relies heavily on advanced machinery, diagnostic instruments, laboratory equipment, and specialized tools.
Our asset management services include:
- Capitalisation of lab equipment, production machinery, and R&D assets
- Depreciation tracking as per IFRS, GAAP, and IAS
- Maintenance scheduling and cost allocation
- Calibration tracking for scientific instruments
- Disposal accounting and asset retirement obligations
This ensures precise asset valuation, regulatory readiness, and long-term financial control.
Financial Statements, Global Reporting & MIS
We build investor-ready financial reporting frameworks through Xero, supporting biotech organizations with detailed analytics for scientific, operational, and commercial performance .
Reporting solutions include:
- Monthly and annual financial statements
- Project-wise budget utilization reports
- Cost analysis for R&D, trials, and production
- Forecasting and cash-flow projections
- Grant utilization reports
- Product-wise and segment-wise profitability
These insights empower leadership teams to make evidence-based decisions for scaling research, manufacturing, and commercialization.
Audit Support & Internal Control Strengthening
Biotechnology companies undergo stringent audits and regulatory reviews. We prepare organizations with structured financial controls and complete documentation trails.
Audit support includes:
- Preparing all financial schedules and reconciliations
- Supporting statutory, internal, and regulatory audits
- Ensuring traceability of lab expenditures, production costs, and R&D claims
- Strengthening internal controls across procurement, inventory, and funding utilization
This enhances transparency, reduces risks, and ensures compliance integrity.
Commercial,
Financial & Legal Benefits for Biotechnology Clients
Our Xero-based accounting
ecosystem drives strong business advantages.
Commercial benefits:
- Cost control across R&D, trials, and manufacturing
- Improved planning for raw materials and consumables
- Faster decision-making with real-time financial insights
Financial benefits:
- Stronger cash flow management
- Greater investor confidence through transparent reporting
- Optimized budgeting for research and production teams
Legal benefits:
- Full GST and statutory compliance
- Audit-friendly documentation
- Reduced risk of regulatory penalties or financial disputes
Driving Long-Term Scientific & Financial Stability
Algebraa Business Solutions supports biotechnology organizations with systems that promote long-term research and commercial success.
Our commitment:
- Strong financial discipline across all operations
- Consistent improvement in profitability
- Reduced compliance and operational risk
- Scalable accounting systems for future expansion
- Stability and transparency that supports scientific innovation