What is an accounting service?
An outsourced accounting service is actually a long-standing payroll service that provides a professional, reliable service that saves you, the employer, costs and unnecessary dealings with employees and law enforcement.
Our professionalism is your advantage:
1. Salaries are calculated by an accountant who is an expert in the field of accounting and is well-versed in labor and taxation laws.
2. Great savings in the costs of directly hiring an accountant.
3. Savings in the maintenance of payroll software.
4. Adherence to schedules for the payment of employee wages.
5. Counseling and accompaniment in all issues related to employee-employer relations.
6. Execution speed and availability.
Who is suitable to work with accounting services?
In recent years, a new player in the field is the Ministry of Labor and Welfare. The office began contacting many employers in a random and non-random way and checking their salary calculations. Over 92% of the inspections end with fines being imposed on the employers. These fines range from tens to hundreds of thousands of shekels.
Therefore, the preparation of payslips through accounting services inevitably leads to a high professional level of the slips and increased protection for the employer against claims by the Ministry of Labor and claims by employees.
Good bookkeeping will also allow you to:
Money management: matching the business’s money to its financial resources, to enable the business to provide services or make purchases in a convenient way.
Managing financial reports: creating financial reports when necessary, to allow managers to monitor the finances of the business and give recommendations on future actions.
Creating a budget: Creating a budget is the process in which the expected income and expenses are defined in the future. Correct monitoring of the budget will allow you to manage the current funds correctly and identify the financial matters that may be problematic and neutralize them as soon as possible.
Tax planning – good bookkeeping will allow you to plan and even save the taxes you have to pay. For example, thanks to double bookkeeping, you can locate all those to whom you have paid money, but no invoices have been issued to you. Failure to issue invoices means that you will not be able to qualify for tax. You will also know if you need to pay income tax advances and how much.
Why is it worth working with external accounting?
Preparing payslips using external accounting services dramatically lowers the costs of producing wages. Let’s take for example an employer with 150 employees who maintains payroll. The cost of calculating an average rental salary is about NIS 17,000 (12,000 gross and social security). On the other hand, if he chooses to produce the slips through a payroll office, he will pay less than half!
In other words, generating slips through outsourced accounting services gives employers security and peace of mind, raises the professional level, and is significantly cheaper than the cost of generating wages through hiring an internal payroll accountant.
At Ratzon Ltd. has been active for over 20 years and is part of the Ben Shmuel group of accountants. The company employs dozens of accountants and provides services to entities such as Ben Gurion University, the Avi Sofer chain, cleaning and security companies, restaurants and many others.
The backbone of your business
The “new world” contributed to the creation of many work mechanisms and businesses that are conducted in a different structure than the one we have known until today. If up until a decade ago it was still acceptable to establish companies in a hierarchical system with several people standing near the top – then today many businesses are conducted in ways of collaborations, community management and even a “one man show” – an entire business with only one person behind it. This is where accounting services can come to your aid in order to maximize the potential of your business.
