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General business services | |||||
Running a business involves various activities. Normally the scope of activities is vast and the company to perform them efficiently needs to take services form others. 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.
SecuritySecurity 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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