Payroll Processing Outsourcing

Payroll Services and Contract Management

In a company, payroll is the sum of all financial records of salaries for an employee, wages, bonuses and deductions. The most regular form of payroll processing service is writing paychecks to the employees. A company will create a bank account with a payroll processing company, generally depositing employee pay funds before each payday. Payroll processing companies use these funds to pay employees and payroll taxes.

VeeFnA handle several financial accounting and banking services expertly. Vee is competent, professional, experienced and skilled Payroll Processing Service Provider. We use latest technology software's to deliver with speed and accuracy, and also we keep our clients updated with the latest technologies. Vee accept Consulting believes in providing excellent services to the clients with 100 % accuracy.

We make business processes a lot easier by taking care of administration and compliances. We provide end to end services to big umbrella global companies across global. From same day payment to claim of reimbursing expenditure, we undertake all production activities in client’s portal. In one of our projects we are remotely processing allocation of funds in client’s desktop by using Sage and Twinfield software.

Once we receive all the transactions through email which is routed by the client, transactions are processed and saved in client’s portal. We specialize in Contracts Processing, Authorizing Timesheets & Tax Free expenses, raising invoice against the remittance advice, Allocating Funds, processing the payroll for around 1000 contactors.

Process Flow

  • We will add the contract in the portal based on the registration document.
  • Once the contract is entered in the website the e-contracts will be sent to contractors. This will enable the contractors to send their daily time sheets and tax free expense request to the mail id which is created by the client and routed to VeeFnA.
  • Based on the authorization request, we will process the timesheets and other expenses, raise the invoice for the respective contractor and forward the invoice to the respective agencies for payment.
  • Once the invoices are forward to the agencies, we will download the statements from bank to see if the funds are received from the agencies (Bank’s smart card is provided by the client for downloading the Bank statements) and upload the payment details to the SAGE software for allocating the funds.
  • As per the bank statement the payments will be verified and matched with the remittance advice to the respective contractors. After verification the payments will be allocated against the remittance advice.
  • Once the payment is allocated it will be uploaded to the client’s portal for payroll. Payroll will be processed and the payments will be uploaded to the bank portal for releasing the funds to the contractor.

Vee Offers:

Payroll Outsourcing process offers unique advantages to the corporate sector, small and medium sized firms.

  • Cost Reduction
  • No Penalties
  • Lower Risk Potential
  • Experts to your Service
  • Direct Deposit
  • Service Delivery
  • Compliance Management
  • Technology
  • Process Capabilities
  • Process Analytics
  • Sharing Updates
  • Confidentiality

India is an extremely popular outsourcing destination and has established as a capable source of managing a range of methods of unreliable difficulties.

For more information please Contact us