GIGA SPACE IT PARK, Clover Park, Viman Nagar, Pune, Maharashtra
TopSource Worldwide is a modern, cloud-based payroll and accounting outsourcing company. We provide payslips, bank files, Form16s, and complete statutory compliances in payroll. We provide full service book-keeping accounting services including sales generation, purchase invoice booking and reporting.
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What kind of accounting services do you provide?
We provide end to end payroll and accounting services along with statutory compliances.
Why is it so important for businesses to hire a great accountant?
For timely and efficient decision making in the business and to keep the business in compliance.
Why should our clients choose you?
TopSource Worldwide provides a complete employer solution including global payroll and accounting services that allows you to employ and pay people promptly, consistently and compliantly — locally and internationally as it suits your business needs. Our systems and processes are designed to work with your technology, and we bring decades of experience and a track record of success to our operations.
We have an international footprint and the far-reaching expertise needed to take your business further. Whether you’re just starting on your global expansion journey or already have established operations and are looking for support with payroll or accounting, we can help.
Can you provide your services online or remotely? If so, please add details.
Yes we can provide all our services remotely over our Portico platform, which is cloud-based.
What changes have you made to keep your customers safe from Covid-19?
Services are provided remotely to all clients. All employees were vaccinated. Offices are sanitised multiple times a day. A hybrid work environment helps to reduce employee exposure and facilitates employee well being.
Payroll Services
****----PAYROLL PROCESSING ----****
• Create and maintain employee personal details and salary masters
• Customisable earnings and deduction codes
• One-time payments like performance bonus, ex-gratia, etc.
• Recovery of company loans and employee welfare scheme deductions
• Monthly reimbursement processing and document validation
• Provision for arrears computation
• Monthly payroll processing i.e., gross-to-net calculation
• Income tax computation
• Investment declaration and proofs verification (softcopy / hardcopy) included in payroll processing
• Full and Final Settlement, provisional Form 16
• Tax equalization for Expats
Hosted employee self-service application Portico to:
o Raise queries
o View payslips, IT Report, Form 3A, Form 16
o Submit/modify investment declarations.
o Submit reimbursement documents softcopy
o View the annual salary to date statement
****----REPORTING----****
• Salary registers in MS Excel format, by department/ cost-centre
• Payslips in PDF for validation
• Income tax computation reports on Portico
• Payroll Variation Report for approvals from the client
• Bank upload / transfer files in the required format, payment advise by bank
• Reimbursement balances reporting on monthly basis
• Annual Salary Statements
• All annual reports
• Managerial remuneration reports as required under the Companies Act
• Payroll journal as per required format
****----STATUTORY REPORTS----****
• Monthly income-tax statement
• Provident Fund Statements
• ESIC contribution statements
• Profession tax – Calculation and preparation of state-wise statement as per the applicable slabs
• Labour Welfare Fund - Calculation and preparation of monthly/Half Yearly/Yearly Statement as per the state
• Quarterly e-TDS (Form 24) and Form 16 and Form 12BA at year-end
Accounting Services
****----ACCOUNTING SERVICES----****
• Sales invoices processing
• Supplier invoice processing
• Identifying payments lists
• Expense claim/Petty cash processing
• Bank Processing
• Bank Reconciliation
• Journals posting - payroll, month-end journals (depreciation, accruals, etc)
• Petty cash reconciliation
• Balance Sheet reconciliation
All the accounting entries up to and including Trial Balance preparation, Balance sheet preparation and MIS reporting with be processed by TopSource in the Tally, unless a different software is proposed to be used.
****----REPORTING----****
• Month end accounts, as per agreed format
o Balance Sheet
o Profit and Loss Account
• Statutory compliances (applicable only to the Indian entity):
o Quarterly Tax deducted at source (TDS) returns
o Monthly Goods and Service Taxes (GST) returns preparation and filing
o Timely payment of statutory liability, generation of TDS certificates (Form 16A).
o Professional tax payments
• Co-ordinating with auditors for completing annual audit
