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 In a company, a record of all financial transactions needs to be properly maintained and reported. an organized manner, in which all these debit and credit entries are recorded is called accounting services. the first part is to make an entry of all these transactions, which is also called book-keeping. The second part is to understand what needs to be booked as an expense, and what needs to be considered as depreciation under the applicable regulations. at periodic frequencies, multiple reports are generated, which show the health of the business, cash flows etc, so that the management can be clear about the directions of the company. Why Do  Accounting and Bookkeeping Outsourcing Services  are needful for an organization ? Accounting and book-keeping services are a vital component of operations for any business. It is important that this data is maintained accurately and on time. Besides, it is very essential to stay close and updated about the changing tax regulat...

  Bring innovative minds from overseas to work for your company and enhance the pool of your business.   Employer of Record services   is one such service which allows your firm to use the advantage of having foreign talent working for you without setting up your business in an entirely new place. To be more specific, EoR acts as a mediator between you and the employee. A employer of record allows companies to legally engage with employees across international borders without having to set up a local entity or risk violating local country or state employment laws. EoR is a very useful tool which can prove to be very beneficial for your business in terms of bringing diversity and creativity which can help your business go a long way in a new country or state as local employees under the market better and can give you valuable suggestions which may turn out to be fruitful in the future. There are a lot of things to be kept in mind when a firm decides to venture out to a dif...

  Owing to the complexities involved in managing payroll processes, Enlisted below are some of the major reasons why most organizations prefer to hire payroll service providers: 1) Gives Time for Core Business Activities When the  payroll process is outsourced to a third party   you can save precious labor hours. Managing payroll internally is quite exhausting –one payroll phase follows another, leading to a time crunch for other business affairs. 2) Mitigates Risks of Payroll Errors Payroll processing calls for handling the minutes details with accuracy. Any error in the process can turn out to be a disappointing and costly affair for both the employees and the employers 3) Ensures Better Security of Your Data Fool proof security measures and extensive monitoring are essential to curtailing risks of identity theft or tampering of company records resulting in a crisis situation. 4) Offers Benefits of Seasoned Payroll Professionals They have vast knowledge about  payr...

  Expanding business frontiers across boundaries magnifies brand presence, diversifies business assets and accelerates business growth. But extending a business's global footprint is a complex endeavor that requires sound planning and streamlining of myriad processes. Amidst all the challenges, payroll management gets really tough to handle. Considering multiple intricacies involved in payroll, an innovative approach and effective administration become indispensable. This is the reason why most companies in the mid of their expansion plans or with established global presence opt for  international payroll services  by third parties. What are the major hurdles that can cause disturbances in the smooth operations of the organizations, working across boundaries? Accommodating local minimum wage laws, local reporting requirements, local tax regulations, local currency & language in your payroll process and policy. Meeting the regulations governing payroll compliances of r...

  The all-new Wage Code is finally here! It was well-known for a while that a new improved version of the Wage Code was anvil since it was first announced in the Union Budget-2021. It was to be implemented starting July 2022 but has been delayed for some reasons. However, employees and  co employers  both need to know the provisions of the New Wage Code and prepare themselves so that by the time it gets implemented, both parties are ready for it. Here is all you need to know about new wage code: Why is the New Wage Code Being Introduced? Currently, India has about 29 sets of labour laws. It is extremely difficult for both employees and employers to be compliant with all 29 of them. The new Wage Code aims to reduce this compliance effort by simplifying these laws and grouping them under just 4 different headings namely; Industrial Relations Code, Social Security Code, Occupational Safety, Health & Working Conditions Code and the Wage Code. The new Wage Code is being in...