Five Steps to Managing Your Small Business More Effectively

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Budget by department;

While your small business might only have two or three departments, it’s just as essential to manage departmental budget as closely as a large corporation with ten departments. Look back to the previous financial year and use this to allocate each department’s budget for the coming year; where did you have leftover budget? Where did you have to dip into other funds? Which departments met their targets in payroll outsourcing companies?

Plan ahead

Look ahead at your entire small business’ calendar for the whole year; what’s going to be expensive? Where can you save money? At this stage, it’s important to not only account for the larger things, such as recruiting new staff or an office renovation, be sure to also include the smaller things; these can soon add up to more than you might expect. Don’t try and overestimate or underestimate your budget, either. By rounding costs up and down, you will either cut yourself short or run out of money; utilise every penny to be as effective as possible in payroll outsourcing services.

Get more information visit at: http://bit.ly/2pMwHn8

GST to Ease Loan Access For Millions of Firms Using Digitalised Data.

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The new unified indirect taxation in India system, which is scheduled to be implemented later this year, will bring in millions of unorganized businesses on one platform. This would effectively, Nilekani believes, help them get loans
Nilekani pointed out, though the country has over 60 million businesses, fewer than one million are incorporated and only a few thousand are listed. A digital trail through GST would help these firms get access to formal credit at a much lower cost, which would help more small enterprises get into the formal economy.
Nilekani headed the empowered group on information technology infrastructure on GST in chartered accountant firms in mumbai.

For more information visit at: http://bit.ly/2pN5UJB

How To Get Rid of Payroll Stress From Your Business ?

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Here are some ways you can help take the stress out of payroll:

Reduce payroll-related cost

As a small business owner, you’re constantly on the look-out for avenues to maximize your investments. But unwanted costs in the form of non-compliance can affect the health of your business for  outsourcing payroll services. Apart from these there are other costs of running payroll and HR systems in-house such as labour costs of staff working to keep payroll systems running on time and ongoing IT maintenance fees.

This increases the risk of a probable misuse of data or a software crash could mean your employees not getting paid on time. Also, if the resource handling the complex spreadsheet system leaves the organization, it would be a payroll nightmare on your hands. Mistakes caused by using manual methods of payroll management services cost companies almost 1% to 8% of their total payroll.

For more information visit at: http://bit.ly/2qmjMYg

 

Key Highlights of Budget 2017?

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This is the first time in Indian history that Union Budget has been announced one month in advance. This decision is made to complete the legislative process for approval of annual spending plans and tax proposals in chartered accountant firms in mumbai before beginning of the new financial year on April 1.

Govt. proposes levy of surcharge of 10% for income between Rs. 50 lakhs and Rs. 1 crores

FM proposed no change in Exemption limit but reduces tax rate to 5% for income between 2.5 lac to 5 lacs

Threshold limit for audit of entities opting for presumptive indirect taxation in India under Section 44AD is increased to 2 crores.

For more information visit at: http://bit.ly/2oDQOqi

Key Highlights of Budget 2017?

Screen-Shot-2015-10-06-at-11.15.18-am

This is the first time in Indian history that Union Budget has been announced one month in advance. This decision is made to complete the legislative process for approval of annual spending plans and tax proposals in chartered accountant firms in mumbai before beginning of the new financial year on April 1.

Govt. proposes levy of surcharge of 10% for income between Rs. 50 lakhs and Rs. 1 crores

FM proposed no change in Exemption limit but reduces tax rate to 5% for income between 2.5 lac to 5 lacs

Threshold limit for audit of entities opting for presumptive indirect taxation in India under Section 44AD is increased to 2 crores

For more information visit at: http://bit.ly/2oDQOqi

Budget 2017 – Push or Pull To Digital Economy

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There are not many changes in current indirect taxation in India regime as GST is proposed to be rollout on 1stJuly, 2017. Hon’ble Finance Minister in today’s speech, said that IT system is on schedule for GST implementation and several teams of tax officers are also working tirelessly to give finishing touch to the Model GST law and rules and other details.

This budget has been welcomed by the whole industry. The Sensex jumped immediately after the speech was over. Digital economy budget will be a right move for the future growth of the economy. With more & more digitalization, India would have new taxpayers & better transparency in system. Every stakeholder from a small shop to a big corporate is pushed towards the digital economy. Government has pushed the digital theme in every area of the budget which is a nice effort.
Therefore, this Budget of 2017 is not a pull, but a push to Digital economy. Our government is determined to lay a beautiful foundation of digital economy in chartered accountant firms in Mumbai.

For more information visit at: http://bit.ly/2pXRB1l

How to Manage Payroll Effectively Across Borders

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The costs of doing all this, per employee, are steadily rising year over year. Payroll management services is a equation to solve. In fact, according to Ernst & Young, 55% of global firms doubt they will ever find a payroll solution that satisfies their payroll processing services needs. On top of this comes the required technology infrastructure, which can become particularly expensive when a company operates in multiple locations across the world.

However, in order to reap the benefits of standardisation and automation, HR and payroll can work in harmony. Working with a single supplier and implementing a cloud will help organisations move forward on this journey and further reduce costs.

For more information visit at: http://bit.ly/2oFKr4n