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| General business services | |||||
There are several services that are taken
by many companies and are known as general business services. These general
services include: Accounting and Tax services
The scope of accounting services expands
and differs with the nature a size company as the accounting style differs.
There are several enterprises that give accounting and tax services. For Small Business If it is small general
business services are mainly include quality accounting, taking care
of tax complaint and preparing monthly financial statements. Normally
if it is a small company the scope of their services includes: * Training the company staff to handle
the basic accounting functions. * Providing the client monthly financial
statements and ledgers. * Preparing the monthly tax return i.e.
the VAT withholding tax. And also preparing the semi annual and annual
corporate tax return. * Audit for annual tax return. * Advising the company regarding accountancy
and tax matters during the company working hours. * Handling the tax liability if the
client is approached by a revenue officer. For Mid Sized Business Often a mid sized company had its own
junior accountant. As the scope of business
is larger higher level of services are required. Normally in a midsized
company accounting is computerized thus services are offered accordingly.
The service provider usually provides the following services: * The service provider helps the company
to organize a simple and efficient computerized accounting system. * They provide training to the junior
accountant enabling him to handle routine accounting tasks and tax matters.
* They help and supervise the junior
accountants to do the monthly closing accurately and in time. They help
the juniors to use these statements for better managing of the business
and to increase profitability. * The service providers take care of
the accounting and tax matters without requiring the company to bear extra
costs. They normally close to half the cost of a full-time controller.
* They also provide professional assistance
to the client company in selection, implementation, training and supporting
the accounting software. * Similar to a general
business services they take of the tax liability when a revenue officer
approaches the company. For Large-sized Business Large businesses such as MNC need the
payroll services for salary accounting. There are special service providers
who cater to payroll services. The scope of payroll services includes:
* Calculating the salaries and wages
of the employees with tax, social security funs and other deductions.
* Providing the bank payment instructions
and issue pay day slip on pay day. * Preparing and furnishing the payroll
register and a monthly summary to the companys accounting department.
* Preparing an accurate monthly and
annual payroll tax return and submitting it on time. * Helping the key employees of the company
for filling the annual personal income tax. Along with accounting services even
tax services are an important general business services. The scope of
tax services encompasses the following activities. * Properly studying and analyzing the
clients business. * Based on the understanding giving
appropriate advices to the client and helping him to understand the tax
concerns. * Training and supervising the companys
staff on handing basic tax matters. * Guiding the client about tax saving
ways. * Informing him about any changes in
the tax rules and slabs. Accounting and tax matters are the most
crucial for any business. As being different subject most businesses take
these services. Marketing Services Marketing is one of the most important
aspects of any business. Small or big, all businesses need marketing services
to promote their product. There are several agencies that provide with
such services which include creating advertisements for all three media,
print, audio and visual. They also arrange promotion campaigns to market
the product. General business services
also include market survey activities. In a competitive market marketing
services are extremely crucial. Transportation and Carrier services
Normally mid sized and large companies
have own vehicles for transportation of goods and for pick and drop services
of their employees. Small companies have to relay on service providers
for the task. There are several transport companies that provide with
courier and carrier services. Often they have a type up with the vendor
company. At times even big companies for reducing the managing pressure
take up such services form outside. Insurance Insurance has become a crucial part
of general business services
these days. Most companies take these services form insurance companies.
Normally they enter into a contract with the insurance company, which
come to the company and take out insurance of the employees. The insurance
companies take the complete responsibility of renewing the insurances
and reimbursing the amount if due. Normally every company goes for mediclaim.
Banking Banking services are taken by every
business. These services mainly include handling the corporate financial
accounts of the company and salary accounts of the employees. Moreover,
banks take the responsibility of the payments and receipts of the company.
Banking services reduces the risk of money from the company. General Maintenance For general maintenance not all companies
keep electricians and plumbers. Normally mid-sized and small companies
rely on external service providers take care of such general maintenance
tasks, which include rectifying electricity faults, plumbing, elevator
maintenance and more. Security Security is important for any company.
Big companies take services from a reputed security providing services.
The services include providing good and trained security guards. General services normally include all
those services which are not directly involved in the company management
and growth. However without these services the company gets paralyzed.
As being very crucial though not directly connected to the company growth,
normally all companies rely on external service providers for doing them.
As the service industry is booming these days, there are several agencies
and companies who are into the business of providing general services
to companies. Companies engaged in accounting today not only provide services
on locally but also on internationally such as the payroll services.
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