Onsite and Offsite Financial Processes and Management (R2R Process):

  • Comprehensive bookkeeping and account management services
  • Development of accounting systems and procedures
  • Checking of transaction support documents and processing
  • Inventory management including system set-up, maintenance of records, physical verification and valuation
  • Compilation of fixed assets register and physical verification
  • Periodic review and finalization of accounts & financial statements including IFRS statements
  • Travel claims and other expense management
  • Reconciliations (Banks, Payables, Receivables, etc.)
  • Complex accounting reconciliations and reporting
  • Administrative and secretarial support

Accounts Receivable Management (O2C Process)

  • Sales invoicing and customer communication
  • Issuance of debit and credit notes
  • Accounting for revenue and collection
  • Preparing accounts receivable reports as per management requirements
  • Follow up of outstanding AR balances

Accounts Payable Management (P2P Process)

  • Vendor master creation and modifications from time to time
  • Preparation and issuance of purchase order (PO)
  • Vetting of contracts with vendors
  • Processing invoices with reference to PO terms and accounting for the same
  • Disbursal of payments as per payment terms
  • Employee expense management
  • Periodic accrual entries
  • Vendor Communication
  • Month-end reporting

Closing of Financial Books and Reporting

  • Month-end pre closing activities
  • Monthly closing of revenue and cost lines
  • Monthly analysis and providing heads up about any expected key gaps vis-a-vis planned financials
  • Compliance with Accounting Standards applicable to entity and other close activities including reconciliations of key accounts and banks
  • Closing of books and reporting as per statutory requirements

Payroll Related HR Documentation

  • Drafting offer letters, employment agreements for key employees as well as non-key employees
  • Consultancy agreements
  • Termination letters, severance letters and release agreements
  • Contract labour agreements
  • Drafting HR Policies and employee handbooks /manuals

Employee Tax Computations and Compliances for Payroll Taxes

  • Structuring of employee benifits and compensation
  • Regular tax computations of all employees
  • Verification and processing of Investment declarations & proofs
  • Checking and processing of all exemptions & deductions as per law
  • Periodic interaction with employees to address their payroll related queries and advising on tax efficient measures
  • Preparing and filing of quarterly TDS returns
  • Generation of salary TDS certificates in Form 16

Generation of Monthly Payroll

  • Maintenance of Payroll Master database
  • Processing of regular monthly salary including flexi benefits, bonus, leave encashment, gratuity and reimbursements etc.
  • Processing of full & final setlements including clerance from relevant departments
  • Adjustments for loans and salary advances
  • Providing monthly pay slips to employees
  • Salary disbursement support including preparation of bank upload file

Reports and Analytics

  • Customized monthly payroll sheet
  • Loan and recovery statements
  • Trend analysis of employees' joining and separation

Payroll Services for Expatriates

  • Computation of tax liability of expatriate employees
  • Assistance in arranging remittances to native country
  • Preparation and filing of income-tax return of expat employees