Bookkeeping and Accounting Services - Payroll Processing

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Information about Bookkeeping and Accounting Services - Payroll Processing
Business-Finance

Published on April 26, 2014

Author: VelanBookkeeping

Source: authorstream.com

Velan – An Overview: Velan – An Overview 7th successful year in the outsourcing business. Managed by a team of professionals with 100+ years of cumulative experience. Impeccable track record of delivering services across the globe. Has state of the art technology for 24x7 operations. 500+ employees and gearing to become a 1000+ by the year 2014. ISO 9001:2008 certified company. Marching towards ISO 27001 certification (ISMS). PowerPoint Presentation: Payroll Process Payroll Workflow: Payroll Workflow Client Velan Payroll Process Team Timecard / Time sheet IRS State DD or Paper Checks Payment of Tax & Filing Return Payment of Tax & Filing Return Procedure – Payroll Process: Procedure – Payroll Process Confirmation of payroll period (Weekly/Bi-Weekly/Semi Monthly /Monthly) Payroll working software both online and offline (QB/Peachtree/Intuit online, etc) Update the W4 information for new employees in Software Payroll deduction setup for new employees Review and update the timesheet/timecard Generate the paychecks (DD Checks or Paper checks) PowerPoint Presentation: Procedure – Payroll Process Conti.. Ensure sufficient funds in payroll bank account for paychecks and taxes. Deliver the paychecks as per SLA. Generate the tax liability report. Paying the payroll taxes after confirmation of transferring funds to the payroll account. Reconciling the payroll bank account. PowerPoint Presentation: Documents Required for Payroll Process W4 (if they are a new employee) Time sheet/Time card Deductions details (if any) Reimbursement details (if any) Benefits of Outsourcing Payroll Services: Benefits of Outsourcing Payroll Services Reduced Costs.   Do not spend more time. Timely deliver of paychecks. Timely payment of payroll taxes to avoid IRS and State penalties. Preparing quarterly returns (941) and annual returns (940). Preparing State tax returns (UCT-6). Process and filing W2 and W3 thro online for SSA. Be assure that the latest tax tables are being used. Achievements: Achievements Payroll Process are completed on the same day and the payment of taxes are being paid before the deadline as mentioned in Service Level Agreement. Received new Payroll Process through the existing client. Achieved 100% turnaround time for handling client queries. Running the Payroll for more than 100 employees on semi-monthly basis. E-filing W2 & W3 forms around 250 employees for the year 2012. Reduced 100% re-work on Payroll processing with the help of quality management system. PowerPoint Presentation: Types of Payroll Processing Weekly Bi-Weekly Semi-Monthly Monthly PowerPoint Presentation: ADP Quick Books Peachtree Paychex Software Used PowerPoint Presentation: Industries Served Communications Automotive Travel Retail Utilities Industrial Equipment Real Estate PowerPoint Presentation: Why Velan? PowerPoint Presentation: Process Model Feasibility study Operational management Transition Pilot run Evolving migration strategy Understanding requirements Assess viability & cost Implementation plan In-house tool development Test cases run Quality performance confirmation Productivity improvements Operations transferred from Client to Velan Velan commences live production Process review for continuing suitability PowerPoint Presentation: Operations Hierarchy Task Owner Reception and delivery of tasks Generate reports on daily work done Supervisor Quality check on the tasks done Ensure tasks are delivered on time Maintaining reports on daily , weekly and monthly production Manager Ensure client satisfaction Handle client escalations (if any) Infrastructure – Delivery Centers : Infrastructure – Delivery Centers Location 1 Location 2 Data Security: Data Security Physical, Administrative and Technical safeguards are in place to ensure data security and confidentiality. Some of the safeguards are : Physical Scheduled training on information security to all employees Regular security audits performed Administrative All staff members are bound by Confidentiality and Non-Disclosure Agreements Round the clock Manned security and video surveillance Control of peripherals Audit/Access Trail maintenance Marching towards certification of ISO 27001:2005 (ISMS) within 2014 Technical Regular Virus checks Prohibited access to E-mail and Internet apart from business specific use Data Destruction after data retention period Secured network and application access Secured file transmission using Secure Shell (Private Tunnel Transmission) and encrypted data transmission PowerPoint Presentation: Infrastructure Reliable Multiple Bandwidth from different providers through different medium (Optical Fibre /Copper – Wired/RF-Wireless) provides us immunity against total block out of Internet. Indigenous Captive Power Supply (UPS) as primary to cater during city power failure, In addition excessive capacity Power Generator (Silent) is in place to meet longer power break. Structured networks powered by state of the art switches and routers for high reliability. Hardware firewall box takes care of Internet gateway level and transmission security. PowerPoint Presentation:  Business Continuity Have 100% redundancy with dual servers having same configuration and features. Operations at multi-locations as a part of Business Continuity Plan. Ready to occupy & fully equipped work space to meet expansion needs. Centralized client server anti-virus technology to ensure an intrusion-protected and virus free environment. Secured storage, Designated file routing and Role Based Access Control. PowerPoint Presentation: Our Clients Serving over 100 clients across the globe in our various services Serving 20% of them for the last 5+ years, 20% for 3+ years, 30% over a year. Client Location Country Percentage USA 56 UK 16 Australia 9 Canada 6 Middle East 2.5 Others 10.5 Recent Compliments: “ I am happy, its refreshing change from the usual ” – Lyle de Groot, Singapore “ I'm glad I hired you and your team. Good job ” - Sean Saadi “ Velan has been fantastic in their communication methods, are extremely organized, can work independently, and are able to follow through to ensure that the job gets done.” – Chris Majewski PowerPoint Presentation: Case Study - I The Customer Florida based rapidly growing assisted living resorts. The Challenge Trying to staff qualified people to supplement in-house strengths led the clients to outsource Payroll process & Posting Entries of Timecard or Time sheets, Printing & Deliver paychecks and Payment of payroll taxes to Velan Team. The Solution Velan Team provided the client a dedicated team of Payroll processing Experts and studied the existing IRS and State related payroll updates. An issue tracking mechanism was established to address, resolve and improve the process. Trained resources helped to deliver uninterrupted service and meet the fluctuations in work volume. The Results Payroll process results to reduce the cost and avoid unnecessary penalty by IRS/State. The Payroll Process are completed on the same day and the payment of taxes are paid before the deadline as they could quickly ramp up through Velan team. PowerPoint Presentation: Case Study - II The Customer Florida based rapidly growing Health Care Services. The Challenge Trying to staff qualified people to supplement in-house strengths led the clients to outsource two different Payroll process for both bi-weekly and semi-monthly , Posting Entries of Timecard or Time sheets, Printing & Deliver paychecks and Payment of payroll taxes to Velan Team. The Solution Velan Team provided the client a dedicated team of Payroll processing Experts and studied the existing IRS and State related payroll updates. An issue tracking mechanism was established to address, resolve and improve the process. Trained resources helped to deliver uninterrupted service and meet the fluctuations in work volume. The Results Payroll process results to reduce the cost and avoid unnecessary penalty by IRS/State. The Payroll Process are completed on the same day and the payment of taxes are being paid before the deadline as they could quickly ramp up through Velan team. Contact Information: Contact Information Velan Info Services Website : www.velan-bookkeeping.com Email : books@velaninfo.com Phone : (516) 717 2079 PowerPoint Presentation: THANK YOU

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