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Why should I outsource my bookkeeping? |
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A. Quality - There is a shortage of qualified bookkeepers. We take your books to a new level by
having our data entry staff input your information. Their work is then reviewed daily by a skilled
accountant for quality and accuracy. |
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B. Security - We design an accounting system, complete with checks and balances. Although no
internal controls are foolproof, having our system in place allows the business owner to do
virtually all functions related to money management in a very short amount of time. This provides
for the business owner from misappropriation or theft of business assets. |
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C. Coaching - We schedule a monthly meeting with the businss owner to review critical numbers
and business events. This "business coaching" provides direction to business owners. |
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D. Cost - Most business owners do not know what it actually costs to have an employee do their
bookkeeping. The cost of a bookkeeper is the sum of the bookkeeper's wage and overhead costs.
Overhead costs not only include benefits and office costs, but also the time it takes to train,
supervise, and provide back-up for time off, etc. All of these costs are eliminated with outsourced
bookkeeping, thereby costing less than an in-house employee. |
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I run a small business. Will online bookkeeping work for me? |
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Yes. Online bookkeeping is tailor made only for small and medium businesses. It will save you from
working long hours on bookkeeping. It will also save you from costs and overheads of employing
your own bookkeeper. |
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We have a bookkeeping/accounting team already. Will your service affect the set-up? |
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In these cases we will step in to compliment your existing team. We work with many clients to
support their in-house accounting team. We can help them on the day to day bookkeeping and free
up your team to engage in more customer relations and revenue generating tasks. We can also step
in during emergencies such as overstretched teams or to cover for maternity, sick absences, etc. |
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We are a public accounting firm. Will you work with us? How will you resolve questions
on our projects? Will you talk to our client direct? |
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We work with many public accounting firms and we work as their back-office. We will always stay
behind and never talk to any of your clients directly. Our agreements with firms will clearly
demostrate this. We communicate with firms in different ways such as calls, emails, etc.
Accounting firms can clearly benefit from our services, by using us as a dependable back-office
they can grow quickly without having to invest to take on the additional work. |
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How should I send the information? |
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You can scan and upload to our secure web portal, email or fax the documents to us. You can also
send the previous years' back-up files in QuickBooks, Excel or any other accounting software format.
We don't really worry in what format you send as long as they are in any electronic form. You can
store all your paper documents with yourself, if you need them in the future. |
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Can you do overnight updates to our books? |
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Yes. You just need to inform us about your priorities and requirements and we will manage it. |
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Does Outsourced Bookkeeping include payroll services? |
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Yes. Our office prepares payroll on the pay frequency you have established for your employees. You
have the option to print payroll checks or set up direct deposit for your employees. Direct deposit is
the simplest, and pay stubs can be emailed to your employees. Our office also prepares monthly,
quarterly and annual payroll reports and send them directly to the necessary government agencies. |
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Do Outsourced Bookkeeping services included accounts payable? |
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Yes. When you take monthly service, we process accounts payable. Vendor invoices and bills are
sent to our paperless system for data entry. Vendor statements are also sent to our paperless
system for account reconiliation. Bills are then paid directly from QuickBooks by our clients. Computer
checks or online banking payments are easily generated by the system. |
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I want to process accounts receivable from my office. Is this possible? |
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Our system allows access to your accounting data file 24 hours a day, 7 days a week. This means
you can use software to generate invoices (or sales receipts) at your point of sale. |
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Can I use purchase orders with Outsourced Bookkeeping system? |
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Yes. We encourage our clients to use purchase orders for inventory type purchases. This means that
your purchasing agent generates the purchase order. When the order is received, our staff matches
authorized receipt documents with the purchase order and vendor billing in the QuickBooks system. |
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I need my data available quickly. How will outsourcing my books help with that? |
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All documents submitted by the end of the day are entered into your bookkeeping file by the
following morning. Month end closings are done within a couple of days of our receipt of bank
statements and other month end documents. |
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How qualified are your employees? |
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The Accounting Professionals at iBookkeeping have a strong foundation and the requisite accounting
certifications to carry out any type of bookkeeping and accounting projects. All of them have
undergone training in accounting systems, accouting processes, accounting controls and accounting
principles including US GAAP. |
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We are a start-up and want to start with basic package but we will do more as our
business grows. Will you work with us? |
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Yes. We work with many start-ups and one person companies. Our basic package starts from only
$50/month and as your business grows, you can move onto a different package. Please refer to
the prices for more details on how it suits your business. |
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What if I don't like your services? How to cancel your service? |
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In the unlikely event of you not liking our service, just send us an email stating your wish. All we
ask is a 30-day cancellation notice period. We will complete any partially completed work and return
all your reports and documents. No questions asked. |
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Is outsourcing my bookkeeping cost effective? |
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Outsourcing your bookkeeping is wise because it allows the business owner to have better information
and spend time on functions of business that don't make them money. Surprisingly, outsourced
bookkeeping is usually cheaper than hiring a bookkeeper. Also our accountants who review your
account every day usually have more training and experience than an average bookkeeper. This
means you get great value for the money. |
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How do I pay you? |
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Wire/electronic transfer, cheque and credit card. |
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Who will have access to my online account? |
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Apart from iBookkeeping staff, this is totally up to you. Your online account will be password
protected and you can authorize access to only the individuals you desire. |
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Does Outsourced Bookkeeping safeguard my assets? |
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We design an accounting system complete with checks and balances. Although no internal controls
are foolproof, having our system in place allows the business owner to do virutally all functions
related to money management in a very short amount of time. This provides protection for the
business owner from misappropriation or theft of business assets. |
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Is my data secured on an Online Bookkeeping system? |
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Data security is an important issue to us. We use a nationally recognized application service provider.
All normal security tools are in place on their system. Furthermore, you will have earthquake, flood,
fire, and equipment failure protection. |
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