TopSource - One Stop Solution To Manage Your Entire Accounting And Payroll Needs

March 28, 2016

TopSource - One Stop Solution To Manage Your Entire Accounting And Payroll Needs

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TopSource is a leading Accounting and Payroll outsourcing service provider and now has extended the services for small businesses India. TopSource is been into offering customized accounting and payroll solutions for small business. The accounting payroll solutions are simple, quick and designed particularly for the small businesses.

TopSource small business payroll solution offers services that include:

  • Payroll
  • Human resources
  • Accounting

The company helps you optimize various important aspects of your business – such as employees’ productivity, accurate payroll, compliance, just to name a few.

TopSource is leaders in Payroll, HR, Attendance Tracking, Leave Management and more….

The company provide a truly comprehensive range of payroll, and other  related, services. These include: leave management ,attendance tracking,  payroll document management, investment and  K calculations – and much more.
TopSource is an award-winning company and their growth is based on providing great value, high quality web-based service to over 500 hundred of clients.  The company processes over 3 million payslips per annum.

What makes Pro Vendor Like TopSource A Leading Outsourcing Provider For Payroll and Accounting? 

Their USPs are:

  • Global experience at extremely competitive prices
  • Customer focused service approach
  • Services are truly comprehensive – from time sheet to payment. It can even link to your biometric systems.
  • Fully compliant services
  • Bespoke and customized reporting
  • Services supported by a product platform for service delivery

You can read TopSource’s latest case studies here...

TopSource have worked with varied clients/industry -The clients come from all sectors and range in size. Though it focus on mid-market businesses, we receive most of their new business through referrals. This brings us into contact with interesting businesses of all sizes, from one employee to 30,000.  In each case, they provide bespoke systems, reports and processes to meet the needs of our clients.  Some key client acquisitions in the last 6 months, with the service line and industry are given below:

  • Karia Builders – Accounting and Payroll – Construction
  • Innoserve – Accounting and Payroll – Digital marketing and Training
  • Success Guru – Accounting and Payroll – Education and consulting
  • Bizsolindia Solutions – Payroll – Consultancy
  • Wurth IT Services – Payroll – IT/ ITES services
  • Keys Hotels, Hosur & Bangalore – Payroll – Hospitality
  • India Forex – Payroll – Financial Services
  • Trailblazer India – Payroll – Travel and Leisure
  • Fulcrum – Payroll – IT/ ITES services
  • Systemsplus Transformations LLP – Payroll – IT/ ITES services
  • Kieraya Furninshings – Payroll – Service Industry
  • Greenlight – Payroll – IT/ ITES services

foa market

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Image source:clarity.sutherland.com

TopSource also offers web-based systems:

Provide accurate up-to-date information for you and your staff, via the web, 24/7.

  • Are truly comprehensive, from time-sheet or biometric sensor, to payment. Everything is in one place for you and your staff.
  • Eliminate errors enabling you to focus on delivering value to your company
  • Include full reporting on a full range of reporting functions
  • Are  highly configurable to meet your specific requirements
  • Are  fully compliant with all legal reporting requirements
  • Are flexible and can grow with your company, providing a strategic fit to your longer-term requirements.
  • Are managed by Chartered Accountants – quality is built in.
  • Are fully supported via our local support centres  in: Mumbai, Pune, Hyderabadand Bangalore.

Service Offerings From TopSource:

Payroll services

TopSource is an award-winning payroll services provider.

TopSource brings to midsize companies a level of service and business value previously available only to the largest corporations. Reliable, flexible, and knowledge-backed support are the hallmark of their services. They not only provide accurate and on-time support, but also support you with timely advice as required.

TopSource offer all of the support and services that you would expect from a payroll outsourcer.  Some major services are:

  • Fixed pricing
  • Fully integrated HR application
  • ROTA and timesheet processing and management
  • Holiday accrual tracking
  • Email or remote print distribution of payslips
  • Online archiving of all your payroll records
  • Payroll journals for uploading into your accounting system

With outsourcing, clients typically end up savings 30-50% of their cost as compared to running and managing the payroll in-house. Outsourcing helps to bring in discipline in the process and guarantees an on-time and error-free delivery, every time.
A trusted outsourced accounting services partner frees up a huge chunk of your time, which you can devote the time for growth-related activities instead of wasting it on peripheral functions. The outsourced accounting services firm should also be able to confidently answer any or all database security questions you ask.Accounting services

Marketing brochures are inherently biased towards the meeting the objectives of the firm. Ask the right questions to evaluate the services – to know what’s good and what’s the dirty stuff. Some companies are used to certain bookkeeping software or sometimes we see a whole industry inclined towards a certain tax application as it has better integration with that industry’s laws.

Why Choose TopSource Outsource Accounting Services?

TopSource understands startups and SMEs needs and offers best outsourcing accounting and payroll service providers. The reason to choose to outsource your accounting and payroll requirements because…………

  • Save upto 50% on bookkeeping expenses
  • Boost your bottom line with less staff
  • Focus more on your business
  • Get access to complete financial management from bookkeeping to tax returns
  • Hire a dedicated online bookkeeper with complete loyalty
  • Round-the-clock access to accounts
  • No need to hire/train accountants
  • Realtime online bookkeeping
  • Complete confidentiality and data security with the latest encryption technologies, remote servers and physical security systems

The Reason To Outsource Your Accounting And Payroll From TopSource:

Accounting and payroll services provided by TopSource are not just quick and cost effective, they’re also highly accurate.  accounting service greatly minimizes the paper processing in the client’s office. The workflow solution offered provides added benefits of online invoice approval, removal of paper and secure document storage.

  • You have access to comprehensive help for all of your financial needs in one place. A firm like ours will handle your basic day-to-day tasks such as bookkeeping, payroll, and bill pay, as well as offer strategic advice on complex issues that will help you reach your business goals.
  • Their diverse team of financial professionals and administrative staff work together to maintain high standards of quality.
  • They have cloud integrators on staff to implement technology that can greatly streamline your internal financial work flows.
  • When you allow an accounting firm to handle your finances, you don’t have to act as a go-between for your tax person and your bookkeeping person, because that gets annoying really fast.
  • You’ll find the support offered by top notch outsourcing accounting firms. For instance, TopSource team is available via phone and email, and always get back to the clients in shortest time as possible. They might assign you a dedicated accountant who is your main point of contact, so you’ll always know who will be on the other end of the phone.

TopSource can deliver all of the accounting and payroll transactions up to trial balance and the services can extend all the way to the monthly management accounts and group reporting. Each process is supported by in-house software applications. The software solutions by TopSource are all SaaS based, built around our Portico platform and integrated across all of applications.

Range of TopSource Accounting Support Functions

accounting image

Apart from the these, TopSource also provides following services:

  • Weekly P&L Flash Reporting
  • Cash, credit card and sales reconciliations
  • Expense claim processing
  • Mail room support services
  • Scanning, tagging and uploading
  • VAT reconciliation and return processing

How does TopSource ensure compliance with laws?

One of the key reasons for clients to outsource their payroll is to ensure compliance. At TopSource, they have the experts to deal with all payroll related legislation. They have experienced Chartered Accountants who have varied industry experience. They also partner with labor consultants who are in touch with all the latest changes in the law and its procedures. Apart from this, they have subscription to leading web-portals on legislation. A well-defined training program covers all TopSource employees and brings them up-to-speed on all the latest changes in the legislation.

Further, the payroll processing software is tested for all latest changes in the legislation. All reports are QA’d by an independent team to ensure that the payroll calculations are accurate and up-to-date prior to sending to the client.

reasons-to-choose-outsourcing

What You Get?

Less hassle – more serviceTopSource is passionate about delivering on our promise, making your life easier, building trust and instilling confidence. And you’ll always get to speak to someone who knows your account, for unlimited, specialist advice and support. The team explain things clearly, in advance, and set everything up to run in a streamlined, hassle-free way.

Less tax – more earnings – TopSource’s team focused advice ensures you keep as much of your hard-earned cash as possible and never pay more tax than you need to. TopSource set up your business and remuneration structure in the most tax-efficient way possible and pro actively advise you on an on-going basis, in response to changes in the rules and regulations.

Less paperwork and time involved – more control & visibility TopSource team is quick and professional and gives you a 24/7 real-time view of sales, expenses, drawings available and tax liabilities and generates all the information required to keep the clients happy. Everything is organized in one secure place – there is no hassle of paperwork and no spreadsheets. Raise invoices and claim expenses online – that’s it, we’ll take care of everything else, monitor your account and ensure that everything is streamlined. TopSource remove the admin burden of running a company. Simple – more time for you to do what you do best.

Less stress – more peace of mind – Guaranteed turnaround times, automated reminders, specialist pro-active tax planning and a fixed fee mean you can relax, knowing everything is taken care of. Key dates and amounts are explained well in advance. No worries about filing returns or dealing with the taxman. Never miss a deadline or pay a fine. Zero stress.

why outsource

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By outsourcing your accounting and payroll operations to a professional accounting firm like TopSource, you’re effectively hiring a team of experts.  Professional accountants know the tax codes and laws backwards and forwards—it’s their job.  They work around the clock for your business by keeping up with the latest tax information, affording you full-time coverage for only part-time pay. Staffing options are considered and executed per task, so you’ll only have the most experienced and qualified individuals on your side, right where you need them.

If you are setting up operations in India, SME Joinup can provide a back office for accounting, payroll, financial reporting, tax and other regulatory compliances. We have the capability of assisting a company of any size – we have helped reduce cost and improve efficiency by becoming the finance and accounting (F&A) team for small to large Indian companies as well as overseas companies.

is it working

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Image source:clarity.sutherland.com

What Are Different Types Of Accounting Services That You Can Outsource From TopSource?

Accounting and payroll is a wide range of services that include lot many different sub-categories where you can outsource, as this will help you focus on the betterment of your business:

Accounts Payable 

In day to day operations, you have to deal with a host of vendors across your functions. Managing all their accounts payable issues including invoice receipts, payments, tax deductions, managing statutory compliances can be quite a hassle.

Top Source have ensured that Accounts Payable can be managed smoothly and efficiently. It can manage:

  • Vendor contract management & archival
  • Vendor bill booking, queue for payment, based on appropriate approvals
  • Vendor payments in line with company policies

accounts payable

Image source:oats.co.in

  • TDS deductions and issue of certificates to vendors based on govt. regulations
  • Some of the direct benefits, you can derive from the Accounts payable outsourcing solutions
  • Without adding additional manpower, it help increase efficiency in the entire accounts payable process
  • By consistently making timely and accurate payments, it help increase vendor satisfaction

Finance and Accounting Outsourcing

By outsourcing your accounting operations to a professional accounting firm like TopSource, you’re effectively hiring a team of experts.  Professional accountants know the tax codes and laws backwards and forwards—it’s their job.  They work around the clock for your business by keeping up with the latest tax information, affording you full-time coverage for only part-time pay.

Staffing options are considered and executed per task, so you’ll only have the most experienced and qualified individuals on your side, right where you need them.

With top outsourcing service providers like Topsource finance and accounting outsourcing functions, you can be assured that your fiscal and regulatory risks are being managed effectively.

finance and accounting

Image source:oats.co.in

Tax Compliance

Whether you are operating in your own country or have a subsidiary abroad, it is essential to ensure that your tax and accounting affairs comply with certain policies and regulations of the country you are presently operating in as well as your own country. With the tax compliance outsourcing solutions, SME Joinup strive to make this easy for you.

Many organizations have resource constraints when it comes to striking a balance between addressing statutory reporting requirements and focusing on value-added tax planning.

tax compliance

image source:oats.co.in

By consistently monitoring and keeping track of the changing statutory norms and regulations, it aim to reduce risk for the clients and bring high levels of efficiency in our process. The tax compliance outsourcing service providers aims to provide:

  • Computation of depreciation and allowances as per tax laws
  • Centralized compliance processes with an integrated service provider
  • Preparation of statement of total income and tax returns
  • Accountability so that management can focus on core business and growth platforms
  • Enhanced visibility and control through integrated tax operations and filing

The above mentioned are the major services of accounting that are widely outsourced. Apart from these, there are below mentioned services that are outsourced  by small businesses India from Top Source are:

  1. General Accounting and Bookkeeping Services:Preparation and maintenance of day-to-day bookkeeping and monthly or quarterly accounts. 
  2. Preparation of Financial Statements:Preparation of annual accounts for the statutory annual audit
  3. Preparation of Tax Returns:Preparation of periodic tax, sales tax, and other returns
  4. Payroll Services:Preparation of salary statements of employees, calculation of bonus payments, and administering of commissions
  5. Cash Forecasting Services:Analysis of the cash requirements of the business and forecasting cash requirements
  6. Debt Collection Services:Assistance for the recovery of debts and taking necessary legal action
  7. Payments to Creditors:Assistance with making payments to creditors while leaving ultimate control with the management
  8. Cash Handling Services:Assistance with treasury functions like operation and monitoring of high-interest deposits and current accounts
  9. E-accounting services: Outsourcing service providers like TopSource have expertise in this area and can help you with any of your e-accounting functions
  10. Accounting Setup Services: TopSource can help you achieve your business objectives with our accounting setup services

What About Security and Confidentiality concerns?

When you outsource bookkeeping services to TopSource like vendor, you will have a complete control of permission levels and access levels of your staff to the online data. Outsourcing accounting and payroll service providers like Top Source have  a high level security systems in place with restricted access to authorized staff only.

  accredit of topsource

Even if you decide to outsource your accounting and payroll, you are ultimately responsible so at least, for the first few months till you get comfortable working with the accounting and payroll service provider, be sure to review their work each month. This means you still have to know the laws, regulations and paper work. Just go over it with the provider.

Contact us on 8800225467 or email us on request@smejoinup.com to get in touch with the best Accounting & Payroll outsourcing service provider.

image courtesy:skambo.info

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