KNOWLEDGE PROCESS OUTSOURCING

Back-office and support functions entail resources of an organisation in terms of manpower, competence and accuracy, and significant time, all these translating these functions into a significant cost centre for an organisation. Outsourcing is increasingly being leveraged by organizations to seek better management focus on core activities for strategic results and transfer back-office and support functions including compliance activities to a competent and knowledgeable outsourced services provider. It has truly emerged as a strategic tool to enhance performance, increase flexibility, control costs and optimize their operations. At M. S. Chhajed & Co., we help you decide what functions can be outsourced successfully, and work with you to develop and implement a measurable outsourcing solution that aligns with your key business goals.
Accounts Outsourcing team at M. S. Chhajed & Co. can help you and your business to prosper by taking over routine yet complex activities like payroll management, bookkeeping.
Our key offerings in the Business Outsourcing include:
Book-keeping
Book keeping is one of the most essential components of running a professionally managed company. It is a series of processes which records the transactions carried out by a company in its ordinary course of business. The essence of book keeping should be such that not only all the transactions carried out by the company are reflected in their books of accounts, but the books should qualitatively and quantitatively depict the position of the business and its core competence and high productivity avenues.
Our bookkeeping outsourcing services include:
  • Preparation and Maintenance of books of accounts
  • Providing monthly or quarterly management accounts
  • Preparation of annual statutory accounts
  • Recording and reconciling all bank, cash and credit card transactions
  • Accounts payable / receivable processing
  • Support for managing working capital
  • General ledger maintenance
  • Monthly and year-end closing assistance
  • Accounting systems design
  • Depreciation schedules
At M. S. Chhajed & Co., we believe that timely information with skilled analysis of financial ratios and trends of transactions ensures effective and prompt decision making.
Payroll Management
The Payroll Management System deals with the financial aspects of employee’s salary, allowances, deductions, gross pay, net pay etc. and generation of pay-slips for a specific period. A payroll system generates a multitude of reports for hourly and salaried employees. The payroll process has to be highly efficient and streamlined to ensure any follow up costs and query regeneration are minimalized.
At M. S. Chhajed & Co., we offer a full payroll compliance service. Some examples of our payroll management outsourcing services include:
  • Payroll management and processing
  • Employee full and final processing support
  • Processing timesheets and generating payslips
  • Generating periodic reports
  • Computation and deposit of withholding tax along with associated return filings
  • Provident fund related support
  • Dealing with joining and leaving policies
  • Payroll administration - calculation, payment and compliance
Dedicated and well knit team of professionals at M.S. Chhajed & Co. works with accuracy and confidentiality enhancing the administration and efficiency of the business.
Budgeting and Forecasting
Budgeting and forecasting is an integral business activity leading to the achievement of various business objectives. Budgeting is the process of quantifying costs attributable to a specific department or cost centre. It deals with the estimation and deployment of specific funds available to the business unit. A budget should typically be created in an integrated and phased manner in such a way that the department or business unit does not feel short- changed in comparison with its scope and extent of activities.
Forecasting deals with the estimation of revenue or net proceeds from the sale of a company’s product or service. Forecasting plays an important role in establishing and estimating the cash flow of a company. A proper forecasting process would take into consideration the factors which would create a ‘cash-crunch’ situation for the company and the solutions which could be employed to ensure that this eventuality does not take place.
Budgeting and Forecasting can lead to various benefits like:
  • Creation of a Budget for each department and cost centre as well as the creation of a Forecast for determining the expected revenue and its effect upon the company’s cash flow
  • Comparison of the budget with the actual figures and subsequent analysis of the same
  • Identifying the reasons for the under absorption/over absorption as compared to the budgeted figures
  • Effect of the deviation on the company’s P&L
  • Suggestions/ Recommendations for remedial measures
At M.S. Chhajed & Co., we enable your resources to be used more efficiently with our proactive, efficient and cost effective service, backed with rich skilled resources and expertise in budgeting and forecasting.