PROBLEM
How can a multi-national enterprise ensure compliance with various regulatory statues in India?
METHODOLOGY
Our specialized teams offer end-to-end solutions to accounting, payroll process including taxation on payroll, vendor accounting (AP) including maintenance of vendor invoices and timely payouts, tax with-holding, social security, compliances with other statutes – federal, state, town or local bodies – to the extent that it impacts business enterprises. Technical training programmes to our teams (of the team, by the team and for the team) are a weekly activity at all 8 offices across India.
The teams worked on a clear time-table (or a Monthly Activity Plan) that was discussed and agreed with. The teams typically consist of a Junior Executive, a Senior Executive and a Manager. The team is accountable to a Partner and the methods ensure that the maker-checker concept is in-built into the accounting process ensuring internal control with respect to book-keeping.
OUTCOME
The in-house automating processes ensured predictable and consistent reporting amongst the teams to ensure compliance. As a result of being fully trained and exposed to several popular Accounting Software Tools, we were able to deliver financials as required by Indian GAAP. We were also well-exposed to client defined systems that have embedded US GAAP into the process. Our teams worked both on desktop, server and cloud platforms – both for accounting and also payroll processing
