Corporates focusing on core-competency as-well-as companies facing pressure of economic recession, re-organizing internal processes is a logical way to free-up management bandwidth to focus on end-customer & to reduce costs. In this endeavour Process Re-engineering and Outsourcing play a critical role. Globally, there has been an emerging trend of businesses and large corporations outsourcing their financial processes, especially accounting processes, payroll and employee management processes, customer servicing processing, etc. to specialized professionals for better management of their time and resources.
Similarly, certain business transactions are critical to the operations. Accurate recording and retrieval of this information is important and any errors or omissions are simply not acceptable. Saluja Goyal & Company specialises in providing requisite expertise essential to ensure immaculate processing and/or independent validation and review of such transactions and underlying documentation.
Virtual CFO Services:
Unfortunately Promoters/Owners are not omnipresent, though they have an option to appoint a trusted advisor to keep them appraised as well as manage the show when they are busy somewhere else. Also at times, you need a high calibre financial expert but the size of operations is holding you back to appoint one. In these situations, Saluja Goyal & Company may provide you with the right solution of Virtual CFO who may act as per your briefing, provide the necessary inputs for you to be present at all locations without your physical presence and also to guide you to choose the best available course of action.
MIS Implementation and Review:
Management Information System (MIS) provides critical financial and operational information to management for taking timely decisions and thus effectively managing the Business. MIS provides a dynamic, well-laid and reliable tool in arriving at the right and timely decisions.This, however, does not always mean a complex exercise to churn-out complicated reports every month. A simple well laid-out relevant information may be sufficient to facilitate informed decisions, review and control. We at Saluja Goyal & Company are equip to design and implement an effective MIS System as per your needs. We can also assist you in periodic review of MIS reports so that you may concentrate only on the core business or Key Performance Indicators rather than all the numbers.
We set-up, maintain and ensure timely and accurate processing of employee payroll. We also assist in preparation of HR manual to document your HR policies in compliance with Indian labor regulations, setting-up social security benefits including insurance and claim administration.
Some of function in Payroll are as:
- Preparation of the monthly payroll based on the inputs received from organization. The same would include all statutory and other relevant deductions as required.
- Ensure deductions of all relevant amounts and as per applicable statutory laws like Income Tax, provident Fund and Professional Tax etc.
- Checking Form 16 for the Employees and file Qtly. returns for e-TDS with Income Tax authorities.
- Deposit TDS & provide proof of deposit.
- Ensure redressal of any issues.
- Reconciliation of payments/statutory deductions etc. with books of accounts on quarterly basis.
Analyzing the potential risks in advance
Correct interpretation of the company’s financial position
Informed and better managerial decision making
Collection, summarization, and accurate analysis of financial data
Optimization of business resources and processes