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When Prime Minister Narendra Modi broke the news of demonetization to billions of Indians, many things happened. From lines gathering aroundATMs, mini protests outside banks to parties launching new e-wallet ventures. One thing nobody talked about was increase in price of Bitcoin by 10% overnight. Bitcoins are the world’s first decentralized peer-to-peer currency, created and […]

Making a payroll is considered as a cumbersome process and is often outsourced to a third party consultant. A payroll is the cumulative sum of financial records for employee salaries, which includes work salaries, withdrawal of Provident Fund, claiming ESI, LWF (Labor Welfare Fund), calculating correct taxes, deductions and any bonuses. Hence, it is very […]

Years ago, changing payroll service provider was considered a headache as all the data provided by the company to the outsourcing partner had to be inputted manually. Changing vendors meant going through all the implementation and training cycles again with the new vendor. But today with the change and advancement in technology and cloud based […]

Bank reconciliation is the process of verifying the integrity of data between bank records and company’s financial records. It begins with matching the balances in an entity’s accounting records for a cash account to the corresponding information on a bank statement. It is therefore a necessary process which can sometimes become too long and monotonous. […]

Accounts payable is a liability due which needs to be paid within the specified period to avoid default. Accounts Payable Process is mostly outsourced as it increases the pain and chances for errors from receipt to invoice processing. It enables a company to focus on core business and work efficiently. While for some companies, it […]