Category: Legal and Tax Compliances

Outsourced CFO Services for Startups for Winning edge

At Gapeseed Consulting, we love startups. Having been associated with number of startups we understand the unique requirements and hurdles any startup would come across. The series of blog posts is designed to help startups with various set of services that should be inculcated in any business from the beginning.

This is blog 1 of the startup series. The idea is to help you with CFO services, basics of CFO services so that you can either plan or outsource accordingly. We intend to help the startups thereby becoming their Outsourcing and hence functional support partners to allow them to concentrate on their revenues.

The focus of Gapeseed Consulting remains same, we want to ‘multiply possibilities’ for our associates to help them grow their business. Let, us understand the significance of CFO Services for Startups – the edge and benefit of the same.

How Outsourced CFO Services for Startups and Finance Team would help?

    • Outsourcing CFO services for Startups will you give an edge over the others. Strong financial situation of any startup will give an early leg up as compared to the competitions and will also offer a sound standing among the existing players.
    • It will ensure legal & accounting compliances and will also minimize mistakes.
    • The CFO level wisdom will help in identifying the good and bad about valuation increase and will also help succeed in raising capital.
    • An outsourced team is also beneficial as it provides equally competitive results but at lower or variable costs.
    • Outsourced CFO and Finance team will also help you concentrate on business and growth.
    • With Gapeseed Consulting, your CFO team is always scalable and ready to grow with you.
    • You need not plan any sick days or vacation days as outsourced team work on timelines and only they shall not be mismatched.
    • In low budgets, you get better controls and better trained staff. Also they help you with taxes and offer more accurate financial statements.
    • By outsourcing the financial & CFO services to Gapeseed Consulting, you can actually invest your early stage capital & investments in business generating activities and we have the following services to help you understand the cost-benefit of outsourced accounting & financial services. These will also allow you to invest your time and resources wisely.

What CFO & Financial Services do we offer at Gapeseed?

For startups we offer the following services:

Retainer CFO Services

1. We understand that Startups cannot always afford to pay fixed compensations. That is why we have retainer CFO Services. Under this, we help startups in creating contracts, also help them build a financial model and raise equity and/or venture debt.

2. Retainer Services are available for a time duration of 6 months or above.

Project Based Hiring

1. In case you need CFO or Accounting services from an expert on some particular subject or to assess & help you with the in-house accounting services, we can help.This would be a one time exercise with detailed report and follow-up action.

2. This would also be the subscription package for those looking to hire an Interim CFO

Basic Bookkeeping and Accounting Retainer

1. Maintaining your books at each & every stage. We can either use existing systems or provide the one we recommend, we invoice your clients, follow up, collect cash, pay bills and handle everything from bank reconciliation to month-end reporting.

2. You see the report, review, approve or discuss.

Taxes

1. We manage the tax filings – quarterly, annually.

2. We work on reduce your tax liabilities and we ensure that you get the advantages out of best managed taxation services.

Remember, our startup packages start from INR.25,000/- onwards.
Get in touch with us now at info@gapeseedconsulting.com or call up: +91-9599444630/9 to know more.

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The idea of this post is to streamline the taxation process for an expatriate. Expatriate taxation is variedly provided as a service from taxation firms, CAs, CFOs. The edge we have over others is that we have been dealing with expatriates across the country that Continue reading Taxation for Expatriate

Why Audits are important for business?

Because they serve important functions for the company and add value for its people.

When we refer to start-up or small businesses, in order to keep the budget low, they prefer to hire individuals to take care of their accounts and finances

But most of the time, they miss out on the fact that auditing is an important means of evaluating the effectiveness of a company’s internal controls and it is of utmost importance to let an expert conduct internal audits for financial records and an external one to review books. Performing audits of individual departmental finances or overall accounting function is necessary to determine if your business numbers are accurate to become aware of – obtaining reliable financial reporting, preventing fraud, learning to improve processes and procedures, minimizing the cost of the capital. And not only audits are important for the overall growth of the company, the process is essential in order to gain a fair perspective on the company’s financial statements. In fact potential investors and creditors look into these financial statements before deciding to invest in a particular business. This very aspect is very crucial for small business holders. In short internal and external audit processes contribute to a company’s audit system in important ways. It’s time we find out how.

Cut the business cost

In the beginning as we mentioned, for small businesses, managing the finance and cost cutting is the most important reason why they don’t consider a proper audit system to take care of the finances. It’s a wrong perception. The cost of capital is important for any company, big or small. And a strong audit system actually reduces various forms of risk in an enterprise which can add on to the cost of the company. Audit systems help to reduce the risk of material misstatement in financial reporting, the risk of fraud and misappropriation of assets, the risk of optimal management due to insufficient information on its operations and other forms of risks.

Meet your business goals

When we run a business, we keep certain goals and work hard to pursue and attain them. Having an effective audit system ensures you meet them consistently. Business processes need various forms of internal control to facilitate supervision and monitoring, prevent and detect irregular transactions, measure ongoing performance, maintain adequate business records and to promote operational productivity. A skilled audit system not only helps to take control of all this but helps to learn ways to improve business processes and procedures. A team of experts can help to improve cash flow, reduce debt-service interest, depreciate assets etc. which further improves the overall capital management process of the business.

Authenticate your business deals

If you need credit or loan or want investors/creditors to invest on your business, a potential audit system can make the process smooth because such transactions require accurate financial statements of the company. When it comes to business deals like preliminary loan or investment request, specific financial reports can be presented with the help of an internal audit system. Others, such as a negotiated business sale, might be contingent on the results of an external audit. This system lets you present financial data verified by an independent third-party professional accounting person or firm that shares or explains your numbers with others only as you direct.

Safeguard your business from frauds

Business deals and transactions are vital to any company and preventing them from getting misplaced or protecting them against frauds can be a task but not when you have an audit system functioning for you. Recurring analysis of a company’s operations and maintaining rigorous systems of internal controls can prevent and detect various forms of fraud and other accounting irregularities. Audit professionals assist in the design and modification of internal control systems the purpose of which includes fraud prevention.

These were some of the key features of how an audit system helps to uplift the overall growth of the business. If you want such a potent system to manage the finances of your business, you simply need to get in touch with us.

For more information on Audit, feel free to reach us on, info@gapeseedconsulting.com or call +91-9599444639/+91-9599444630

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Payroll Services in Delhi NCR

Every business owner is faced with the option of doing payroll in-house or outsourcing to a payroll service provider. While each has its advantages, outsourcing payroll seems to be a common choice for both large and small businesses. Reason being – it saves cost and increases efficiency. Once you outsource the service, the providers can manage the tedious task of running payroll whereas you and your employees can focus on business growth.

In simple words the purpose of any payroll system is to standardize the process of paying employees and organize everything for tax purposes. Now, to choose the best payroll service for your business can be a difficult task. Because the type of payroll service that works best for each company depends on the needs and circumstances of the business. Some payroll providers can accommodate large companies with hundreds of accounts, while others are focused more on small businesses and limit the number of accounts they work with. So you should consider parameters like the cost involved, the reputation or status of the provider and the services it will provide.
However with so many options to choose from, finding the right one can be overwhelming. So to help you out in best way possible, Gapeseed comes as a rescuer. Our motto is very simple – We prioritize our client’s needs.

Check out the Benefits of Payroll Services

Save Cost: The most important aspect of any business is cost saving. So, in addition to reducing the probability of costly penalties, hiring Gapeseed to manage your payroll module can save you money in lot many ways. The price that you will be investing for training purposes or for labour may add up more than the price of outsourcing. And there’s no guarantee involved. Whereas if you hire us, you and your team can concentrate more on the business growth while we take care of the rest. We will also be involved in taking full responsibility for any mishap and you can feel confident, mistakes (if any at all) will even be taken care of.
Increase Productivity: Now, once you avail the service, you don’t have to involve any of your internal team members to process payroll, which means you not only save on cost, but also time. The team member can actually get involved into doing something productive rather than spending time on keeping track of employees’ wages and fees, processing paychecks and records etc.

Faster Processing: We hire experts of the industry when it comes to payroll rules and requirements. We also have advanced technical resources as support, so we can complete complex payrolls quickly and accurately. Be it paying the wages or reviewing employee contribution and deduction, all are taken care systematically. This also includes adding new employees to the system and removing former employees as soon as they leave the company.
Reduce Compliance Issues: Payroll tax regulations can be complicated and confusing. When trying to concentrate on running a business successfully, it may be difficult to stay up with all the tax rules and changes. Yet it is very important to keep a track as inaccurate payroll reporting can result in penalties from the government. Gapeseed can help you prevent compliance issues. Our systems are upgraded with up-to-date information on all tax rules and therefore reduce inaccuracy of any sort. In addition, we also handle filings, taxes and payments, and other such complexities.

There are many details and factors to consider in each of these processes and the easiest way to tackle all of them is to hire a professional payroll service provider. And to do so it’s advisable to hire the best among the rest.

Whether you are seeking the Payroll Services for a funded startup, an Indian Office of your foreign-aligned venture or any other payroll services in Delhi NCR, get in touch with us.

Further to this if you seek any further clarity, feel free to write to us on, info@gapeseedconsulting.com or you can also call us at +91-9599444639.

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