People, Strategy, Technology.
At, TSMT Consulting, we leverage the trifecta of people, strategy and technology, to deliver better. Understanding and unlocking hidden potential, simplifying complexities, streamlining operations, mitigating and solving problems that stymie progress.
Driving transformation through efficiency – we help you thrive.
- Corporate Finance
Ensure every decision helps drive better results, including funding, sourcing, capital structuring, investments, sustainability of resources, we stand firm. - Mergers & Acquisitions
No matter how daunting the task, we help make complex transitions seamless. - Strategy & Analytics
Predict, pre-empt, be ahead of the curve. We harness data to uncover insights that will help propel your business. - Financial Planning & Management
Achieve speed and sustainability across all industries and geographies with intelligent functions and smart workflows.
Comprehensive Accounting Services
At the heart of the offering are a set of services covering processes across the Accounting value-chain, end-to-end.
Accounts Payable / Procure to Pay
Managing the Accounts Payable process is one of the most critical tasks of a business. Failure of effective management could affect vendor relationships and affect working capital and thereby result in a reduction of the overall profits. Outsourcing the Accounts Payable process will help businesses to optimize their working capital and see increased profit margins. We will help you transform your paper based Accounts Payable into an electronic workflow which gives you all the information you need on what you are purchasing and help you decide who and when to pay.
Benefits of outsourcing the Accounts Payable process:
- Easy access to documents online
- Reduced processing costs through automation / RPA
- Helps you in not missing out on early payment discounts
- Avoidance of late payment fee / interest
- Avoid duplicate invoice processing
- Avoid duplicate payments to Vendors
- Maximise profits by enhancing working capital
Accounts Receivables / Order to Cash
Success of a business depends on accurate billing of its sales / services which results in improved cash flows and enhanced profitability. We, with our expert staff can help you optimize your Accounts Receivable process.
Benefits of outsourcing the Accounts Receivable process:
- Accurate and timely accounting of Sales / Services
- Order Management
- Ensure effective credit control
- Aggressive cash collections
- Reduce Days Sales Outstanding (DSO)
- Accurate cash applications
- Rectify unallocated cash values
- Reduce A/R adjustments and write-off of bad debts
Treasury / Cash Management
Bank Reconciliation is the most vital process of any business to maintain a healthy cash flow, identify frauds / thefts and bank errors, uncover irregularities in the account, effectively manage unutilized cash.
Benefits of outsourcing the Treasury / Cash Management:
Our highly efficient “end of day” balancing and reconciliation tool connects to most POS systems and captures, retains and reports sales. Identifying key performance and key risk indicators enables proactive decisions that increase profitability.
- Automated matching
- Front-end productivity reporting and tracking
- Daily, week-to-date, and monthly trend information
- Automated cash reconciliation and daily deposit verification
- Export capability to Excel and Access
- Rule based automatic accounting of routine transactions especially bank charges
General Ledger Accounting / Record to Report
This is one of the most important accounting services that every business has to deal with and it is very important that it is carried out timely and accurately. Outsourcing helps you achieve this through reduced costs, increase quality. This includes accounting of accruals, pre-payments, re-class journals, depreciation, adjustment entries, ledger close.
Benefits of outsourcing the General Ledger Accounting process:
- Cost effective services
- Timely completion of tasks
- Higher degree of accuracy
Financial Reporting
The objective of financial reporting is to track, analyse and report an organisation’s business income. The purpose of these reports is to examine resource usage, cash flow position, business performance and the overall financial health of the business. This helps an organisation and its investors make informed decisions about how to manage the business. Financial Reports am extensively used by external stakeholders, such as investors, bankers, creditors, suppliers, etc.
The team is well trained to prepare the annual Financial Statements for the purpose of Statutory Audits in assonance with the provisions of the local statutes.
We also ensure that all local Regulatory requirements are adhered to and appropriate filings are made accurately and on time.
The external Financial Statements comprise of:
- Balance Sheet
- Profit & Loss Account / Income Statement
- Cash Flow Statement
- Notes to Accounts
Management Reporting
Management Information System as it is commonly known as, provides adequate business information to various levels of management in the tone of reports and statements at regular intervals. The report gives details about the Corporate Governance Practices followed by the Company and helps the Management is decision making.
- Management Reporting focuses on short-term as well as long-term planning and control.
- Management Reports are prepared for the internal consumption of top-level and low-level managers.
- At the end of every reporting period, the team prepares a Financial & Management Report.
- Management Reporting, Dashboards and BI are used to assist leadership in their decision making.
- At the end of the financial year, the annual accounts comprising the Balance Sheet, Income Statement and Notes to Accounts are also prepared in accordance with Schedule VI of the Companies Act.
- The team extends support to statutory auditors to ensure completion of the annual audits.
- All this is accurately and efficiently prepared, so you have all the information you need to drive better results.
Ensuring Compliance
In the Corporate world, Compliance is defined as the process of ensuring that every company and its employees follow all laws, standards, rules and regulations, and all ethical practices that apply to the Organisation. Under the Indian law, while carrying out the Accounting and Reporting function, companies need to comply with the requirements laid down under the following Statutory Acts:
Compliance under Income Tax Act, 1961
We offer the following services to ensure compliance.
- Tax Deduction at Source (TDS) while making payments to another person when the amount of the payment exceeds the threshold limit.
- Advice on TDS to be deducted on various items of expenditure
- Monthly advise on TDS payable
- Quarterly return filing (Return 26Q) with TRACES
- Quarterly issue of TDS certificates to vendors
- Tracing TDS Exemption certificates received from Vendors
- Computation of Advance Tax on a quarterly basis
- Annual filing of Tax returns
Compliance under Goods and Service Tax Act, 2017
Ensuring the following tasks are performed for timely and accurate filing and tax payment.
- Computation of Output GST on Sales
- Computation of Input GST on various expenditure
- Computation of GST payable under Reverse Charge on various items
- Output and Input reconciliations
- Preparation and filing of Monthly GST return — GSTR 1 and GSTR 3B
- Preparation and filing of Annual GST return
- Filing and Refund of GST paid on Input Services
Compliance under Corporate Law
- Maintenance and updating of Minutes of Meeting of Board and General Meeting
- Maintenance of Statutory registers such as Members’ Register, Register of Contracts, Directors’ Register, Register of Charges, Minutes Book, Share Certificates issuance, etc.
- Preparation of DIR-8 and MBP-1
- Preparation and filing of regular forms with the Registrar of Companies i.e. appointment & resignation of Directors, Auditors appointment, increase in authorized Share Capital
- Preparation and filing of Annual Returns
- Preparation and filing of Financial Statements with the Registrar of Companies
- Preparation and filing of Micro, Small, Medium Enterprises (MSME) returns
- Ensuring DIN compliance by Directors
- Filings in respect of Foreign Liabilities and Assets
Employees are the most valuable assets of any organisation. So it is imperative for every organisation to ensure a seamless hiring, payroll processing, providing for retiral benefits and insurance, complying with local statutory compliance in accordance with the Labour Laws.
In most businesses, Payroll related costs account for 60% of the total expenses in the Profit and Loss Account. It has been observed that small businesses are not adequately equipped to handle the end-to-end functions of the HR life cycle from Hire to Retire. For such organizations, the various challenges of human resources may prove to be a major hurdle in the growth of their business. In such cases, outsourcing HR functions is the best solution.
Businesses are often challenged to comply with the ever-changing requirements and complexities of payroll and related statutory labour law compliance, timely tax deductions and file quarterly and annual tax returns. TSMT Consulting will assist you by ensuring that your payroll and all related compliance requirements are handled efficiently and on time.
Regardless of your company’s size, our flexible payroll services streamline payroll processes, improve productivity and simplify administration. This helps the organisation to focus on its strategic objectives.
Our scope of work will include:
- Generate monthly Payroll Register using GreytHR software
- Accurate and timely disbursement of payroll to the employees by the 30th of every month
- Manage annual Income Tax Declarations made to ensure accurate tax deduction from salary every month as per the Income Tax Act
- Review year-end tax proofs and update the same in the GreytHR software
- Ensuring accurate and timely full and final settlements of attrited employees
- Ensuring correctness of the monthly ESI liability and timely remittance of the same to the ESI Authorities, wherever applicable
- Ensuring correctness of the monthly PF liability and timely remittance of the same to the PF Authorities, wherever applicable
- Ensuring accurate computation of Professional Tax and timely payment to the Labour Department
- Timely remittance of Labour Welfare Tax
- Quarterly TDS return filing (Return 24Q)
- Issuing annual TDS / Salary Certificates (Form 16 – Part A and Part B) to the Employees
- Accounting of annual provision for Gratuity
- Timely payment of Gratuity to attrited employees who are eligible for the same
- End-to-end Hire to Retire function
Personnel Management
- Record basic demographics of the new employee (e.g. PAN, Aadhar details, proof of residence, proof of education and previous employment, etc.)
- Creation of Employee Master Data for all employees.
- Complete background verification checks and/ or reference checks, if applicable.
- Update employee records periodically on promotions and salary change on account of promotion or annual hikes.
- Commence attrition / exit formalities on receiving approved resignation of an employee.
- Maintain accurate records of employee tenure to compute annual Provision for Gratuity.
- Issue Employment related letters, appointment letters, revision letters in salary, promotions and others.
TSMT Consulting works closely with startups, ensuring that every little detail, right from pre & post incorporation, end-to-end registrations to reporting, and compliance to accounting and payroll, drives success.
We have an end-to-end service specially for Startups – working at speed, guiding you every step of the way. Ensuring that you concentrate on what you do best, and leave the rest to us.
We provide end-to-end incorporation, post incorporation and registration services to:
- Sole Proprietorship
- Association of Persons
- Partnership Firm
- Limited Liability Partnership
- Private Limited Company
- Public Limited Company
- Non-Profit / Section 8 Company
- Indian subsidiary of Foreign Company
- Trusts
Expert training & mentored development for your teams
At TSMT Consulting, we also work closely with industries to help train and upskill professionals. From soft skills, to Financial Reporting using ERP Softwares, and MIS Reporting to Finalisation of Financial Statements, we have a variety of training courses we offer.
Soft Skill Training Courses
- Business Communication and Etiquettes
- Presentation Skills – offered through our packed house “Star Speaker” sessions
- Time Management
- Stress Management
- Problem Solving and Decision Making
- Leadership Training
Financial Training Courses
- Financial Reporting using ERP software
- Goods and Service Tax Training Course
- Payroll and Compensation
- Finalisation of Financial Statements
- Excel and MIS Reporting
TSMT Consulting provides Business Intelligence Solutions that facilitate efficient Decision Making, Real-Time Analysis, and Embedded Analytics
Our Business Intelligence Solutions and Strategy enable your organisation to reach successful outcomes.
We provide:
- State-of-the-art reporting platforms
- Mobile applications with real-time live dashboards
- Native & cross-platform mobile app solutions with Beautiful UI, UX designs, Rapid prototyping & deployment.
- Analysis and Forecasts of the business KPIs
We also help you deploy custom RPA and AI Solutions that optimise productivity
- Rapidly Automate complicated tasks, boost productivity and ensure higher compliance Provide support for a wide range of applications ranging from web applications to desktop applications
- Enable highly efficient and automated end-to-end business processes using RPA and AI solutions
- Provide Visualisations and Dashboards with real-time live updates and monitoring
We help you deploy Integrated Real-time Financial Dashboards from Accounting Records and Operations ERP
- Robotic Process Automation and Intelligence
- Document Generation and E Signature – SaaS
- Information Security Advisory, Audits and Risk Mitigation
- Amazon Web Services Advisory
- Customised Business Efficiency Mobile Application and Tools
- Fixed Asset Management Software with Geo Tagging and Remote Physical Verification
- Outsourced and managed services of the IT function of SMEs
- Cyber Security Audits
