Paysquare Consultancy Ltd.

Business demand is never constant. There are times when there is a surge in demand which may be seasonal or due to a major project that you have secured. These are temporary phases when you need extra staff and once the demand falls or the project is over, they are no longer required. This is where temp staffing agency comes in. You hire an employee on a contractual basis for the duration of the project or the increased demand. It is a win-win situation for the temporary staff as well as the company. Temp staffing in India specializes in payroll processing and compliance for a fee. If we look at the benefits provided by a temp staffing agency, the fee is worth it. Read more...

Payroll outsourcing is one, in which several companies or businesses hire a firm to manage all their payroll operations, in order to save money and time. Payroll outsourcing should be done because it helps in reducing the requirement of in-house trained payroll staff. Outsourcing payroll services in India also helps in maintaining and purchasing updated software packages. Outsourcing payroll services is beneficial because it proves to be an efficient cost-saving strategy because sometimes, it becomes easier to avail services from outside than in-house. Read more...

This article will discuss the accounting tips for small businesses that can help you manage operations and overall financial strategy. Accounting and bookkeeping is a very important factor while making financial strategy.

3rd Party Payroll setbacks can affect businesses at every level, eroding employee and customer trust in the organization. Payroll may seem like a task. Know more... 

Salary structuring, statutory compliance, and outsourcing are important components of payroll in India in 2019.  Salary structuring with correct tax planning helps reduce the tax liability of the employee and the employer. Good payroll processing will always keep up-to-date records of employee management. Know more...

Small business accounting involves keeping receipts of all the sales and purchases so that a transactions summary is kept. Small businesses can think about accounting outsourcing solutions for better management. Know more about a financial tasks for small businesses.. 

Payroll outsourcing not only gives you more time to work on creating better business strategies but also ensures that regulatory compliance.

Just getting new temporary employees is not enough, you must make sure that the onboarding process is done in a professional way. 

Bookkeeping and Accounting, both being closely connected are often used interchangeably. While this is fine for a layperson, someone who uses the services. Bookkeeping vs. Accounting: Differences and When to Use What

statutory compliance ensures that employees are fairly paid. Here are statutory compliances required for payroll outsourcing in the Indian context

Carrying business successfully means juggling a variety of activities. Comprehensive Guide to Knowing Payroll outsourcing services for small business.

Every business requires a professional team to handle its accounting and bookkeeping. Here are 5 questions to ask accounting and bookkeeping firm.

Understanding Payroll Function. The Payroll department in an organisation concerns itself, primarily with the payment of wages to the employees.

Best temp staffing firm is known for the ability to deliver precision-driven recruitment choices for organisations. 8 reasons to use a temp staffing firm.

Accounting and Bookkeeping are integral function and part of any business & are extremely important for the health of a business and statutory compliance.

Accounting & bookkeeping is essential for financial health of a business its need to avail services from experts or to outsource accounting services is best

Payroll is most intricate components of HR management. Payroll processing in India includes payroll and process of disbursement and taxation.

Temp Staffing is a convenient payroll system, employee are hired temporarily through staffing agency.Here is reference for temp/3rd party payroll agencies.

As a founder of a start-up or your very own business here are some tips You Need to Know about Accounting and Tax Preparation for Start-Ups in 2019.

Change is never painful, Usually, change gets delayed due to thought of starting things from scratch. Know When Its Time to Switch Payroll Service Provider

Temporary staffing is a phenomenon and offers multiple benefits for your businesses know How To Find 3rd Party Payroll Seasonal Employees for Business?

Curious about what your accounting and bookkeeping firm is talking about? They are talking about you! They are preoccupied with how to take the quality of accounting services that they are offering you to the next level. The responsibilities of accounting professionals remain the same- comprehensive and timely recording of economic and business activities with adequate documentation for future records, reporting, and compliance purposes.

The payroll department plays a key role in any organization. It takes care of the entire hiring process starting from issuing the offer letter to the printing of the termination letter. The salaries and other statutory benefits also are handled by the payroll department which includes getting the registrations for Employee Provident Fund and Employee State Insurance Scheme, etc. There are complex and time-consuming processes for these registrations. Reasons to use a Temp Staffing/3rd Party Payroll Firm for your company

Without an effective payroll outsourcing model, businesses when carrying out their payroll functionalities can face various problems.

Payroll in India : Payroll processing is a key business process, whether it's a start-up or a mnc, payroll processing is one of the decisive background ...

Indian payroll calculations require knowledge of many laws besides the tax laws. Which need to understand minimum wages act, payment wages act,etc...

Payroll outsourcing services in India can be hard to do if companies don't conduct adequate research..Businesses need to find firm that fulfill requirements

You have a perfect business plan backed by flawless marketing strategies. You have the best people on the team, who are performing exceptionally. However, you still seem to be struggling with certain costs, which, in turn, are hitting your profits negatively. Look into your employee attendance and leave management system. A manual process is very often the reason for not only increased costs in salaries but also results in sub-optimal employee productivity.

Payroll accounting for small business is essential. The basics of payroll accounting and its effective implementation is vital to the survival of companies; both big and small.

Whether you are running a small-scale business or a large-scale enterprise, payroll accounting is of vital importance. Once you move ahead with hiring your employees, it becomes imperative that you know payroll accounting as well as its management correctly. However, for most of the business organizations out there  especially the beginners, it becomes a challenging task to achieve payroll accounting as well as its management effectively.

Accounting is an essential aspect of any business. Be it big or small. Also, because of the importance of the payroll accounting team, it is critical that you get to know your team.

The accounting department is the backbone of every business, and its stability paves the road-map for achieving success in any business field. With the growing complexities and volume of work, the functions of the accounting and finance department can get quite confusing at times. The need for outsourced accounting services has, thus, been up the gradient since the last decade to meet this hindrance with ease and convenience.

Bookkeeping services are critical to the proper functioning of your business. Here are the twelve tips on how to streamline the same.

When it comes to running a small business successfully, one of the most important aspects is a robust bookkeeping system. Irrespective of the nature or size of your business, it is essential to keep your books updated and readily available, as it reflects the correct financial health of your business at any given point of time.

Accounting and bookkeeping are backbones of business they help in recording transactions & generates financial reports required for making key business decisions. You may be wondering why an outsourced bookkeeping service is beneficial, and why so many business owners opt to trust an external firm to handle accounting and bookkeeping services. So here are a few of the key reasons:

Temporary staffing in India has seen a considerable increase in the last few years. Imagine a scenario - Your Company has landed a massive project. Departments have sent in their requisition for more workforce. You have the option of hiring more people, but the project is short-term, say six months, after which this excess workforce will become superfluous and add to costs. The process of recruiting and training people for the job will take time, and the project is suppose to start almost immediately.

Statutory Compliance   in Indian payroll management system and regulation systems lay down the rules and regulations that are implemented for the smooth functioning of business organizations. It safeguards the interests of the workers and employees. If companies do not follow these norms, they will be penalized monetarily by legal authorities.

The temporary staffing services are a cost-effective choice as they provide a “faster, better, and precise solution.” Due to the economic slowdown, cost-saving is the single most crucial factor today. To maximize profit in business, company owners and managers have to make smart decisions and look out for ways to save money. In such a scenario, if a company needs a workforce to fulfill the employee shortage of extraordinary talent for a particular or seasonal project, then they need to go for temporary staff instead of hiring a full-time staff. At this stage, the service of the temporary staffing agency is utilized to get the temporary staff and complete the job.

While in-house bookkeeping and accounting is a traditional and beneficial method of handling accounts, outsourced accounting bookkeeping is a preferred pathway for many small and medium enterprises. Both routes are useful for different types of organizations. Hence, in this article, we will compare in-house and outsourced services. Based on the distinction, you can decide which pathway to choose and how to handle the financial activities of your business. So, let’s dive in and understand the difference between in-house and outsourced bookkeeping and accounting.

It is because, without proper financial reports, which are generated through appropriate accounting and bookkeeping services, it is not possible to make significant business decisions. Additionally, if the owner is always stuck in the accounting and bookkeeping activities, it is hard for them to ensure a seamless flow of other activities.

When thinking of outsourcing, the first thing that comes to mind is talented professionals who can deliver work in lesser time. Isn’t it? That is precisely the reason why global organizations are considering accounting outsourcing in India. It is easier for global organizations to acquire competent accounting outsourcing services in Delhi due to available talent, flexible work hours, efficient delivery in less time.

Consider the scenario when demand is on the peak, but the organization is facing a shortage of staff due to many reasons like sickness, personal leaves, resignations, retirements, lay-offs, maternity vacations, busines s expansions, etc. If an organization receives the seasonal project, then they go for  so they can release them when the project gets over. Temp staffs need to be managed by the internal HR dept of the organization from all aspects as per their regular employee, excluding a few facilities which they are not entitled to.

Continue reading...

In today's time, everyone is looking for ways to earn some extra cash. Unfortunately, a lot of people indulge in fraudulent activities at some level that can cost hundreds of thousands of dollars to employers. If we go by the stats, payroll fraud is one of the most common types of asset frauds found in the business world. It may take up to an average of 30 months to determine its existence and stop its spread. In this period, a significant amount of financial loss can take place, which can take years to compensate. Thus it is better to look for smart ways to prevent payroll fraud and nullify the effects before they can even start to take shape. Read more...

Managing a business is not only about handling routine operations. There are also many legal aspects that one has to care for, and non-compliance with the same may land the business in trouble. For every business in the present era, various statutory requirements have to be followed. Continue reading...

What does statutory compliance mean? Well, the compliance is all about a framework within which the business needs to operate. For every organization, it is necessary to meet specific requirements in terms of documents and papers that need to be provided to the authorities read more 

For any organization, there are various norms set by different authorities. It needs to follow all the rules, which is called Statutory compliant. Salary has special norms that every organization needs to follow the most crucial factor. It is called payroll compliance. The payroll has got various parts, and each of them must be adhered to as per the standards set by the laws.

Do you know today 63% of businesses prefer outsourcing accounting services and only 23% perform in-house? Does it mean that outsourcing accounting services are simple?

Accounting outsourcing is not as simple as flipping a switch.