Accounting
Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing and reporting these transactions to oversight agencies, regulators and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company's operations, financial position and cash flows. Without accounting, investors would be unable to rely on timely or accurate financial information, and companies’ managements would lack the transparency needed to manage risks or plan projects.
Salary Distribution
Income distribution is extremely important for development, since it influences the cohesion of society, determines the extent of poverty for any given average per capita income and the poverty-reducing effects of growth, and even affects people’s health. The paper reviews the connections between income distribution and economic growth.
In a market economy, labor markets work efficiently to match job seekers with employers needing their skills who, in turn, pay wages and salaries based on the value that workers bring to firms. Since not everyone has the same job skills, labor markets result in considerable income inequality.
Our salary distribution program help your business to distribute salary based on skills and analyse to improve profit within company.
Reimbursement
Reimbursing, or being reimbursed is necessary when you have paid for something on behalf of someone else, or they have paid on your behalf. In regards to businesses, this is something that you would do for your employee(s) if they have expenses that they have paid for at the time with their own money.To keep reimbursements to a sensible number, it is common for companies to give their employees a certain allowance per day to spend on specified expenses.
Reimbursement is money paid to an employee or customer, or another party, as repayment for a business expense, insurance, taxes, or other costs. Business expense reimbursements include out-of-pocket expenses, such as those for travel and food.
Monitoring the business reimbursement charges and minimize upto a certain level will increase profit of the business.
Income Tax Returns
Income Tax Return (ITR) is a form which a person is supposed to submit to the Income Tax Department of India. It contains information about the person’s income and the taxes to be paid on it during the year. Information filed in ITR should pertain to a particular financial year.
The Income Tax Department has prescribed 7 types of ITR forms and applicability of the form will depend on the nature and amount of income and the type of taxpayer.For instance, if you want to apply for a loan like a personal loan or home loan, you will be required to submit income proof such as your income tax returns.
Bonus/ Compensation
A bonus is a financial compensation that is above and beyond the normal payment expectations of its recipient.Bonuses may be dangled as incentives to prospective employees and they can be given to current employees to reward performance and increase employee retention.
Bonuses is use to engage your employees and boost productivity. Before issuing bonuses, review your business strategy to help determine where bonuses may help you achieve your business goals.
Bonus creates Friendly Competition Among Staff,Builds Team Collaboration and Increased Motivation. We help to analyze bonus structure.
