Outsourcing QuickBooks Services

quickbooks outsourcing

No matter how your business functions or the nature of your business, keeping an accurate, easy to access set of books is essential. Without detailed, accurate business records it will be difficult to attract investments into your company.

Inaccurate business records will make your life harder in every aspect, filing taxes will be hard, or even you could get in legal trouble with the revenue services. Using QuickBooks will keep your business records organized and accurate and will make you avoid unnecessary problems.

QuickBooks has emerged as software, and since then it has been the leading software chosen by accounting experts and professionals worldwide. QuickBooks is very special because of its ease of use, its ability to integrate with other software is a big pro. You can export information from QuickBooks to tax preparations software in no time.

Businesses have started outsourcing their QuickBooks needs to foreign countries such as India. As QuickBooks can be accessed from anywhere. there are plenty of experts and outsourcing companies that you could choose to take care of your bookkeeping processes using QuickBooks

QuickBooks has a lot of pros, and these are some of them:

  • Able to access your accounting details from anywhere, anytime, through the web.
  • Handle a large business accounting functions
  • Take advantage of several automated functions that send invoices and statements through email
  • Access to a lot of types of business reports (50+)
  • Low operating costs and ease of use

You might be wondering how can you follow your financial records from all over the globe. But it’s pretty simple since QuickBooks gives you and us a real-time company data. You can trace any transaction or any change that happens and change any error in a matter of seconds.

Our team consists of professionals and experts (CFAs, CAS, CPAs) that can operate on QuickBooks. Our team is also able to host complex QuickBooks projects. Not to mention that our team ‘s knowledge isn’t only limited to QuickBooks but includes a lot more skillsets that could be very useful to your company.

Our company offers QuickBooks consulting services and accounting services which include:

QuickBooks bookkeeping

  • Closing accounts.
  • Maintaining ledgers.
  • Trial balance preparation.
  • Income statement preparation.
  • Keeping a book of accounts up to date.

Account receivables and payables

  • Accounting expenses.
  • Updating expenses and maintaining it.
  • Issuing letters of credits.
  • Control cash disbursement records.

Cost QuickBooks accounting

  • Inventory controlling.
  • Keep costs up to date.
  • Cost changes analysis.

Others

  • Payroll accounting.
  • Purchase report preparation.
  • Write-offs maintenance.
  • Constant work-in-progress accounts updates.
  • Fixed assets reconciliation.

A lot of people in business seem to think that QuickBooks only works with smaller companies and not large corporations, but that is simply false.

Our company can implement QuickBooks to work with large businesses just as good with small businesses. We can cover most companies.

Examples:

  • Accounting firms
  • Travel agencies
  • Mortgage Firms
  • Media and advertising agencies
  • Internet-based agencies
  • HR agencies
  • Healthcare professionals and more

Based on your needs we will be assigning a team to handle your day to day QuickBooks operations without your intervention at a really attractive price.

Don’t worry about paper getting lost. We will ensure that very little paper has to be transported physically. We will work hard to maintain a paper-free office with no fuss.

Regarding security, no one will ever be able to see your data online unless you permit them. Everything is encrypted out physical facilities have restricted access, and our employees have restricted access to your documents. We also take clients’ privacy and security very seriously. All our employees sign confidentiality agreements and undergo severe screening processes.

Our staff is required to go through the Intuit’s QuickBooks advanced training.So you will be dealing with experts who undergo practice and understand the financial operations and how to operate QuickBooks with no struggles. All people who will be working for you have had the university education.

Our customer support team is staffed by professional and respectable accountants. They will be able to answer any questions or solve any problems you may have in a short period.

What to expect when you hire us?

  • Reliability, speed, and trustworthiness.
  • Constant communication.
  • Customer references.
  • Stable and strong infrastructure and systems.
  • Professional team and quality management.

We comply with all your policies and regulations, hire us and don’t worry about the fuss of hiring local accountants that may not have undergone the proper training needed to operate QuickBooks. With us, you will save time, money, and effort.

Source: https://www.axiombpm.com/outsource-quickbooks/

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Outsourced Accounts Payable Services

image for accounts payable services

AxiomBPM‘s accounts payable service is transformational, to say the least. Our top of the line automation system guarantees impeccable document management due to our constant hard work on updating and improving it.

Human errors such as duplications are a thing of the past. We also flawlessly handle transaction management, exception resolution, and disbursement related services.

Outsource-your-work

AxiomBPM offers extremely practical solutions in all aspects of outsourcing your accounts payable. Instead of having to hire your own staff and handling all their salaries and bonuses then training them. Not to mention the expensive software licensing and constant updating.

We use the latest techniques and practices including Sarbanes-Oxley compliance which results in a great reduction in discrepancies and a significant increase in the financial control. All that translates into improvements for your bottom line.

The Accounts payable services we offer:

We are up to date on all the needs and legalities required for our customers from the USA and UK.

Our End to End solutions include:

Data Capture: Receipt and management of all paper-based payable documents. This includes:

  • Sorting
  • Batch preparation
  • Scanning
  • Document indexing
  • Document storage and retrieval
  • Receiving and processing incoming mail
  • Audit and reconciliation of scanned invoices
  • 100% availability of scanned invoices

Data Processing – Exception Management/Resolution: we resolute and manage all exceptional transactions. This includes:

  • Approval and exception routing
  • Shortened month-end closing process
  • Documented audit trail

Suspect Duplicate Analysis: Audit and control mechanisms to eliminate the risk of duplicate payments and support recovery and reclamation through:

  • Manual and automated data entry
  • Three-way database matching
  • Electronic invoice processing

Disbursement Services: finalize all aspects of payments in the least amount of time possible to reduce customers’ floating costs.

  • Print and distribution of checks
  • Secured maintenance of check stock
  • Online check proofing
  • Return check handling
  • Electronic payment handling
  • Special invoice mail handling

Our accounts payable services are very inclusive, our services include utility bill management, accounts payable reports, processing of travel and expenses, tax reporting and supplier management.

Not to mention the grade A customer service and special projects report most of our clients have gone accustomed to during their interactions with us.

Our workflow is simple yet elegant:

Step 1 – Invoice Receipt: Customers’ hard copy and electronic invoices are received.

Step 2 – Image and Data Capture: All documents are stored as images and all invoice images are view able.

Step 3
– Process and Route: Invoice documents are processed according to previously agreed upon business rules with the customer. Invoices are routed to the relevant customer executives for approval and final resolution.

Step 4 – Disburse and Archive: An approved invoice is uploaded to customer’s A/P system for payment through standard interfaces on all accounting platforms. The invoices are then posted to the General Ledger as ’normal’. We also perform disbursements. The hardcopies are stored at our facility and the electronic images are searchable online.

Five reasons why you should outsource your Accounts payable Services:

  1. Your invoices will be paid well before its due date:
    This is thanks to our automation system that procures and processes all your bills and allocates their payment before their due time.
  2. We send you monthly, quarterly or annual reports depending on your needs:
    No need to search for a needle in a haystack. Each and every single month we’ll send you a clear and detailed report containing all bills processed and all the updates on your accounts.
  3. View co-relations between checks issued and invoices that were already paid:
    Another benefit to our automation system is that there is no room for human error such as duplication. Each bill is marked by a serial number, and once payment is issued for that bill, it cant be repaid again unless done with a manual command
  4. All your vendors will be ensured to compliance to SOX
  5. Instead of having to hire an entire staff and train them, you can fully utilize BRAND’s team and all their expertise and training of payable accounts

 

So why choose Axiom over anyone else to handle your Accounts payable?

  • Our workflow and automation system is highly effective and is up to date on the latest and most optimum practices in the industry.
  • We can guarantee you 24/7/365 of active online communication to help you with any question or inquiry you my have.
  • We can boost your relations with your vendors.
  • Significantly drop the number of invoice discrepancies and disputes.

Source: https://www.axiombpm.com/accounts-payable-services/

Outsourced Revenue Cycle Management Services

image for rcm services

Revenue cycle management (RCM) is the process of handling claims, or it could be defined in other means as it is also the process of processing payments and generating revenue in the healthcare industry.

Revenue cycle management starts once the patient books an appointment with a physician or a medical professional. Once they step in the facility the cycle starts and it continues until the balance on the account related to this patient goes to zero.

The process includes a lot of steps that vary from checking the eligibility of the patient’s insurance to verifying the coding claims. It is a complicated process that needs a lot of management and mistakes in it hurt a lot of groups involved in the process.  Mistakes in the process will hurt the patient and make them worry about their insurance coverage and at the same time it will make the medical facility worried and reduces the cash flow which will affect the hospitals or the medical facility’s day to day operations.

The RCM Services includes all the administrative and clinical functions that contribute to the management, capture and collection of the patient service revenue. As said before the revenue cycle is complicated and involves a lot of steps, here are some of them that outline its importance:

  • Rendering medical services into charges that are billable and capturing the charge.
  • Properly align the diagnoses and the procedures with the proper code to avoid any unnecessary mistakes.
  • Submitting the claims of the billable fees to insurance companies
  • Collecting payments from the patient’s and determining their balance
  • Before a patient arrives, some information collecting takes place to ensure the patient is covered by an insurance company.
  • Registration process then takes place to collect subsequent patient information during the registration to establish a medical record number and meet regulatory requirements
  • The remittance process then takes place to apply to reject payments.
  • Collecting payments from third part insurers then takes place
  • Utilization review then takes place.

 

These steps are necessary for every patient that comes through the doors because everything needs to be done properly and every patient needs to have his whole process and cycle go smoothly and done right, so you can imagine how hard it might be or how exhausting the process may be for every patient, especially for medical facilities or hospitals that cover thousands of citizens and patients in major cities.

With a proper management cycle, a well-designed system will be in place to track patient care and the collection cycles properly. It bridges and connects the gap between the business and clinical sides of healthcare. It reduces the time needed for receiving the payments.

This cycle enables organizations to check where the revenue process has the scope of improvement by arranging billing data properly and producing reports.

This is why a lot of organizations have started outsourcing their revenue cycles process to countries where it will be cheaper to get their revenue cycle management process done and it will also be done with a higher quality than hiring locals.

 

Why outsource it?

 

Revenue cycle management can be a very tough process and very time consuming. But still every organizations related to medical procedures need to have this kind of cycle for every patient they get.

It is necessary and unavoidable. It needs to be done correctly and efficiently to avoid any coding mistakes that may cost the organization money and cost the patient time and money and cause him or her a lot of inconvenience.

The steps in the cycle may be hard to manage especially the medical coding process. This is why organizations use services in countries like India that cost way less and still get the job done efficiently and right through professional coders and healthcare professionals.

Here are some of the benefits of why you should outsource your revenue cycle management processes:

Greater control

When you outsource your revenue cycle management you will have greater control. There is a common misconception that outsourcing will lead to lost control over the process and your money. But the fact is, outsourcing RCM gives doctors a better understanding of the revenue cycle because it delivers transparency and facilitates relations ships with experts.

 

Better security

We always hear about patients’ information being leaked and causing a lot of identity theft and a lot of inconveniences for the patients. All those leaks happen because of weak security systems that are easily breached. What patient or organization want to have their patients’ info not secure enough and easily accessible by thieves or hackers. That’s why you start outsourcing because it makes the whole process more safe and secure. Outsourcing companies spend a lot of their resources setting up better security systems and keeping up with the latest updates to ensure high security and keeping the organizations info in check and safe from any breaches or leaks. No one wants a patient who is worried about getting better also worried about their information getting in the wrong hands. Not to mention the lawsuits and legal trouble an organization will get in if they happen to have any security breaches.

Regulatory compliance

Outsourcing companies will always be up to date with the latest regulations and policies in your state or country. They perform everything according to your needs and your state’s policies. A good outsourcing partner will provide you with exactly what you need according to the conditions you reside in. They will help your practice keep up with the changing conditions and the vast world of healthcare regulations.

 

Stronger financial performance

 

Not only will the outsourcing companies like Axiom help you increase the cash flow and make sure the submissions are not rejected or there are any problems with the insurance.

They will also help you increase your revenue and improve your organizations financial operations. Outsourcing your revenue cycle management will help you decrease the need for office space and billing procedures or internal staff and office infrastructure. They will help you receive more of the payments your organization is entitled to get.

This will lead to less capital expenses and going through a tough hiring process that will cost you a lot of time. A good outsourcing partner like AxiomBPM will help you by reducing the time you need for processes like this and ensure that you can spend your time improving your bottom line and providing a better care for your patients making them happy, satisfied and more importantly cured.

What are you waiting for? Outsource your revenue cycle now. You don’t need to waste time and worry about insurance companies rejecting claims anymore.

We will make sure the rate of claims refused is reduced and increase your cash flow so you can live through your day to day operations, all that while costing you less and saving you time. What is there to not like?

Contact AxiomBPM now for an improved financial situation and a better management process for your medical practice.

Source: https://www.axiombpm.com/rcm-services/

Order Taking Services

call center for order taking

Outsource Order Taking To Axiom BPM

The industry has arrived at the greatest development in past few years. After all, most businesses simply watch who sells their product through website, social media,radio, television or see the advertisement, and then make a call or click on the order button.

This fast process demands that business must have a round-the-clock process which allows callers or website visitors to place their orders successfully.

But more often than not, businesses who have not employed order taking services miss out on such important aspect at addressing their customers immediate needs. In the end, they loss profits and their competitors surge past them quickly.

In response to such difficult situation, AxiomBPM offers enhanced service by supplying quality experts to address such pressing need. We have the representatives who work 24 hours-a-day to ensure of perfect customer satisfaction.

At AxiomBPM, our service works together with real-time web system which is linked directly together with your company website or together with your email.

Our representatives convert your inbound calls directly into sales and go into the order within our real-time online system. You will see the process working as well using your own login, or we could send the data instantly to you through email.

 

Our Services Include:

 

  • Live order taking
  • Catalog order taking
  • Sales order entry

 

Why Delegate to Axiom?

We have that edge and give it to you when it comes to order taking services. At AxiomBPM, live order taking services has gone over automated systems such that the power to verify customer data on the phone is employed.

We know this is vital as this involves assortment of financial information which human interaction can well present.

We know so well that clients would always prefer to talk with an active representative and provide their order rather than talking to an automatic machine.

To hold on the equipment is much more frequently observed instead of hanging on the representative. Even when customer dangles up our representatives can give them a call back and then try to convince these phones buy our product or services.

Using our Services to supplement an in house staff or even while your only order taking strategy may have a significant effect on your cost and rise in profits figures.

Whenever your infomercial is released or perhaps a customer visits your site who would like to get your product, creating a call is frequently the customer’s first selection for getting in touch with you to be able to place or question your items the services you provide.

Our friendly reps will confer with your clients and satisfy all of them with their queries. This aspect is essential in case your product or services are complicated or even the customer wants more details or clarification concerning the product before they purchase them.

Moreover, our services are available to attend your calls 24/7/365 to ensure that you do not lose any of your sales or inbound call. Each and every call is going to be clarified in your account of the company.

Summary messages with particulars of every single message received around the particular day will be delivered to your email or it can also be e-mailed for you instantly.

Personalized call confirming. Enhanced routing features including automated menu selection and call overflow in position to facilitate cost-effective handling of huge call volume spikes.

Charge cards are approved and knowledge are transferred towards the client through guaranteed connection. Our inbound sales hype for order taking guarantees greatest area of conversions from inbound calls, clients details are maintained for future references even when a caller doesn’t make an order.

Later on, the same database can be used as outgoing calling and create the lead that will save overhead of selling later on.

Source: https://www.axiombpm.com/order-taking-services/

Answering Service

Phone answering service

As a company which excellent track record in answering services, AxiomBPM specializes in offering effective and accurate answering services that considerably saves the time and money of callers.

We have experienced professionals who are assigned to work on the deliverables for any new and old client. These employees have been continuously trained even with their accreditations to render answering services.

The AxiomBPM Process of Answering Service

Our qualified team of professionals takes the messages in behalf of your company and provides the information quickly. These employees are at work all hours of the day, seven days a week and all throughout the year, such that no call to your business remains unattended.

More so, each and every call is picked and necessary information from your customers are obtained by the AxiomBPM answering service workers.

The received calls are processed by live operators who obtain the callers name, address if necessary, phone number and a brief message.

Upon completion of the call, the operator then dispatches the message to where it is supposed to be. With the timely response and appropriate action, our clients need not worry about any single call!

 

Our Answering Services caters to the following needs:

 

 

Reach out to us if you are looking for live phone answering service.

Source: https://www.axiombpm.com/answering-service/

How To Grow Your Business By Outsourcing

While starting a business it is very important to always understand your limitations at all time. This is one important focal point if the growth has to be consistent.

When a business is in its nascent stage, you might be the lone ranger, but as the business grows and as the work expands, you will need more people to assist you in the different departments.

You are bound to feel stagnated if the business is not moving forward because of the ever increasing workload.

But then, it is very important to know and understand that business can never stop or slow down at any instance, and thus it is imperative that outsourcing is looked into.

It is but natural to be skeptical at the outset, because you are handing over the control of your business to someone else, but if the initial jitters are handled maturely, you will realize that is a must if the business does not want to be affected.

Outsourcing is not limited to big businesses these days, and with the advancement of technology many small businesses can now outsource their functions too.

There are plenty of high quality professionals available who can do the jobs without levying exorbitant costs and with great efficiency.

Digital Marketing functions like web designers, translators, social media executive etc., can be easily delegated to professionals in the market. These professionals who are freelancers come on board as part time subcontractors and do not levy any overhead charges which will ease the financial burden on the parent company.

Initial stages of outsourcing should not rushed into, and time should be taken to arrive at service providers.

Now businessmen realize that by delegating the jobs to professionals will not only save them the extra charges but will also allow them to build a better brand in the market as they will not bother about the things which they are not versed in. You can have access to the huge pool of human capital out in the market and this will combine with your business to make it a profitable venture.

 

Figuring out when to outsource

For every business set-up, the timings and the things to outsource are different. Figure out if the in-house department is carrying out all the jobs satisfactorily, that is they are not over worked, because this might then compromise the quality and efficiency of the work at hand.

This is when you know that it is time to outsource, and you should not approach it in lack luster manner. Learn to let go, for this will help you in doubling the revenue in the longer run.

Also, if the businessman has all the plans ready it might not be such a bad idea to outsource few jobs right at the outset. Make a list of the all jobs and functions that are being performed but which are wasting the time more, that is the return in investment is not that high. This list will then be the go to list as far as delegating jobs are concerned.

What to outsource?

Once you have figured out the reasons to outsource, it is now up to you to decide what exactly to outsource?

The list which you have chalked out earlier will once again help you. Observe the tasks that you have to do over and over again, tasks which are very time consuming and tasks which can easily be passed off. There are professionals out there who do these very jobs with far greater efficiency. It might seem as an extra cost at the initial stages, but when the profits come trickling in this decision will stand vindicated. This will also allow you to focus on important areas of growth and brand building, and you can then enjoy the benefits from both sides.

In the current day and age almost anything and everything can be outsourced because there are so many freelancers and contractors available for all domains. However, one should guard against being too outgoing, in the sense that just because you are not good at it does not mean you have to outsource it. Identify the strengths and weaknesses of your business and then decide accordingly. Make sure that you are not outsourcing anything which is related to the core philosophy of your business.

For instance, if you are a technology based company, there is absolutely no point in delegating something which is related to technology. However, other areas like bookkeeping, social media and the rest can be easily outsourced. This will allow you to focus solely on the technology aspects of the business. This will also allow you to build your brand and will help you grab the market share, and in the longer run you can be the best in the business in this particular domain.

Although it is difficult, we take a look at some of the typical areas which are outsourced:

Before we get into the different specific areas, there are three wide domains under which the specifics fall.

These are:

  1. Highly skilled tasks which need constant monitoring, for instance a job of a CFO
  2. Repetitive tasks, like back end operations which involve data entry etc.
  3. Needing specialized knowledge of a particular domain

 

Now getting into the specifics, here are few roles which can be easily delegated:

 

1. Virtual Assistance

One of the biggest help available in the market in the current day and age is that of a Virtual Assistant. These VAs can take up time consuming tasks like social media handling, video editing and/or maintaining blogs to keep the customers updated.

They can be contacted over the telephone, or over the Internet. So much time can be saved by delegating these small yet important things to the VAs, and time saved in revenue earned. There are a number of options easily available out in the space, which makes the task of roping in a Virtual Assistant an easy job.

Well VAs can also set up a dinner date if the case may be, this exemplifies the reach and worth of outsourcing, more so of the VAs.

 

2. SEO and marketing, more about tracking growth

Search engine optimization, or SEO has assumed a lot of prominence these days, especially if the business is like an online portal, or website based entity. Instead of hiring an in-house staff, delegating these activities to freelancers who just do this is a much better option.

This is more like connecting the business to the customers. Also, marketing a particular brand is the biggest domain these days. There are freshers, college graduates who come up with disruptive ideas to market a brand, and they should be snapped up by the businessmen.

The fact that these freelancers have no such obligation to fall in the line will make them think out of the box. Also, they have the ears close to the ground and this makes them an asset. They know how to find the audience to market the brand, why not go out and take advantage of their skills.

 

3. Customer Care

If there is a business, and there are customers there are bound to be problems, and a lot of questions which need to be resolved. Thus the help desk in any company is a very important department, but then does it have to be you who answers the call every time. Certainly no!

One can easily delegate this arduous and repetitive jobs to specialist BPO. Questions like refunds, order status, And despite the bad reputation of the call centre, they are reliable and they know how to get the job done with conviction. of the bad rap call centres get, the truth is that many outsourced help desk services are not only reliable but also intelligent, and customer friendly.

For this venture to be successful, the company needs to find a BPO which understands the business and the type of services to be provided.

 

4. Bookkeeping and Payroll function

Bookkeeping is a very important area for any company as it involves accounting and different financial connotations attached to it. Hiring full-time employees to perform the specialist tasks like bookkeeping operations is not the required solution.

In the ever-growing market space, and with the evolving laws and tax regulations, it is best advised to leave the job to the specialists. Also, hiring a full time employee in house will not serve the purpose as this will increase the overhead costs. Freelancers will only levy costs depending on the service provided, and this will ease the costs too.

The fact that finances and accounts need a lot of time as well as immaculate amount of planning more so when the financial year draws to a close, thus it has to be looked into by experts as this will save you from a lot of problems.

 

Conclusion

It is but natural to have mixed feelings about Outsourcing, but currently it has become quite a normal affair. It depends on how you want your business to grow and expand, and it also hinges on your strengths and weaknesses. There is help available out there, thus go out and expand your potential.

 

Source: https://www.axiombpm.com/grow-business-by-outsourcing/

How To Choose Outsourced Accounting Company

Finding the right outsourced accounting service near by for your business may be difficult, but is as essential as other important tasks. Everyone needs an accountant to maintain its accounts that are required to ascertain the final position. You need to understand the importance of having an accountant for your business. Whether you are a sole proprietor, company or doctor, an accountant is required for all. Accountants are required to prepare the accounting books and reports, submission of tax returns, detection of accounting errors, preparation of financial statements and final accounts.

There are many benefits of hiring professional accounting services.

You need to hire an accountant that can handle your accounts. But, you need to be sure that you feel comfortable with an outsourced accounting company you work with. Make sure that the firm is credible and trustworthy. The very first thing to consider while looking for an accountant is to be clear on what your business requirements are. In accounting, there are numerous areas in which accountants have expert knowledge and experience. Depending on the needs of your profession, you can choose the right accountant accordingly. Make sure to discuss in advance about your business needs to avoid future inconveniences.

Outsource Accounting Work

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Searching for the right accountant may be challenging as well as time-consuming too. One way to save your time is to opt for online search. You can search over the internet to get more result options to choose from. A wide variety of outsourced accounting solutions are available to assist your business. You can choose from a variety of accountant for your organization to satisfy your needs. Search by area of skills, professional services, and experience. Another way to search for a reliable accountant is through a personal recommendation by one of your friends or relatives. Or, you may also consult their previous clients to get an idea about their services.

 

Services offered by accounting companies

Many outsourced accounting firms are available, providing a complete array of accounting services including

When searching for a reputable accountant, it would be better to consult a few accounting firms and then compare the services of each firm. This way, you will be able to find the most effective services. Look for the one that can easily satisfy your business needs and provide you with the superior quality services.

 

Now, when you have found the right accounting firm, the next step is to discuss the accounting issues you have within the business. All you need to do is to confirm if your accountant is qualified enough to manage your financial affairs. The professional accountant for doctors is well qualified and trained in handling accounting issues. They know how to solve such issues by using specialized techniques. They can solve all your issues related to accounting and financial statements.

If the accountant meets all your criteria, he is probably the one. Get more information on the internet.

 

How To Choose a Professional Company.

Accounting is one of the most crucial aspects of almost any business. If you intend to outsource your company’s accounting functions to a third-party, it is important to carefully assess every facet of such company’s activities before reaching a conclusion.

Here are core tips for choosing a vendor for your business:

State your expectations and find out if they can deliver them

Your search for a professional accounting vendor should start with a clear definition of what you want from the seller and the value you expect the relationship to bring to your business. Find out if the vendor you intend to partner with can deliver what you expect regarding value and ROI. Do not conceal your expectations.

Discuss your expectations with the vendors. Tell them exactly what you want, how you want it and how you intend to measure their performance. This approach will prevent misunderstanding in the future if they fail to meet your expectations. Also, ensure all agreements are done in writing and signed accordingly.

Growth and size of the accounting vendor

Experience is crucial in accounting. Before outsourcing your accounting functions to any company, do some research on the level of increase of the company in recent years. If the company has shown a positive level of business growth, it could be an indication of the quality of services they render clients.

Find out about the internal structure of the company and the level of experience of the experts they can boast of. Outsourcing to a startup may not be such a good idea, although some may deliver beyond expectations. But outsourcing to an established professional accounting firm will ensure your business accounting is in safe hands, and you wouldn’t have to bother about ROI.

Track Record of the vendor

The track record of any accounting firm is a reflection of the quality of service it renders clients. Find out if the prospective accounting vendor has a track record of service commitment or if it has a recognized reputation within its industry. Also, find out if the vendor tracks customer satisfaction level, which is a strong indication of the extent they are willing to go to ensure customer satisfaction.

Feedback from previous customers

Listen to what previous customers are saying about the prospective accounting vendors you are considering. One easy way to start is to go online and search for reviews. Find out if an unsatisfied client has written a piece about the vendor or if a satisfied client has recommended them. But do not stop there, ask the accounting vendors to give you a list if their previous customers. They will have no problem with providing you such list if the quality of the services they are rendering is top-notch.

Data Security

Data security is as important as your business accounting or even more. Before outsourcing to any accounting company, find out about their security and confidentiality processes. Accounting vendors must be able to show that they use modern and secure information technology systems.

Assess the level of information security management of the vendor, if you observe loopholes or have doubts about the authenticity of their data security, do not hesitate to consider other options. Also, find out if the company has invested in modern data security technology such as cloud to ensure client data are secured.

Relationship Management

Relationship management is crucial for the success of the accounting functions you outsource. You need to understand how the accounting vendor you intend to outsource to manage the relationship with clients. Consider their communication skills.

Do they often create a communication gap that leaves you searching for more information? Or will language and business culture be a barrier between you and them? You need to consider how well your company can relate with them, share ideas, discuss solutions, establish and maintain a professional relationship.

Avoid the deceit of lowest bidders

There is often the temptation to outsource your business accounting functions to the lowest bidder. Professionals in the accounting business are relatively expensive in service delivery. If you intend to outsource to a professional accounting firm, be ready to pay a competitive price. Just like in any other industry, there are charlatans in the accounting business too. One of the easiest methods these charlatans use to get victims is offering prices that fall below the normal competitive market price.

While the lowest bidder may not be the best option, the most expensive accounting firm may fail to deliver on its promises. As such, do your best to strike a balance between a successful track record, expertise, and competitive pricing when selecting an accounting vendor.

Assess financial stability

It is crucial to ensure that the accounting vendor you intend to outsource to be financial secured. You need to find out if the vendor is financially strong enough to manage its business. If the vendor is financially weak or has financial problems such as the inability to pay employees, such weakness will affect their quality of service delivery and ultimately affect your business.

Availability

How often will you have the opportunity to discuss your concerns with the accounting company you outsourced to? You need to consider the availability of the accounting vendor before signing any contract. In most cases, many small businesses often demand for face-to-face meetings every week or every two weeks, while some large business may demand monthly meetings or vice versa. Depending on the nature of your business, you may have to discuss with the department or employees responsible for communicating.

 

Save Time and Energy

“One thing that every business needs is professional accounting services. Many small business owners try to do their books after work when they should be relaxing with their family or getting some well-earned sleep. This is not the best way to go about things; for a start, you are tired by then and can easily make mistakes, taking even longer to figure out where you went wrong. Also you are depriving your family of time with you, and this can ruin many relationships.

It is essential to create a good balance in your life whether you own your own business or work in a career. All work and no play will create havoc with your family and with your health. Statistics show that overwork causes all kinds of health problems from high blood pressure to heart disease. But when you have a healthy balance, your body and mind both have time to relax and be refreshed and invigorated so that you can return to work eager to get on with your day instead of feeling jaded and irritable.

So if you are trying to work all day and then bringing the books home to do at night, it is time to change your bad habits and outsource some of the work that you find difficult to do or hard to keep up with. Most businesses owners love doing the work they are trained for, but this does not always include doing the books. It is an essential task. Otherwise you don’t know where the business is heading financially.

When you outsource and find MYOB accounting services, you will always know what shape the business is in and will be able to base your business decisions on accurate and up to date information. Also, your health will be optimal, and so your decisions will be solid ones that bring the success you deserve.

A business tax accountant will take a headache out of trying to keep those books up to date. You won’t have to worry about fines for late returns, and you will know that the tax you pay is not more than you should be paying. You might even find that the amount of tax you are charged is well below what you paid in the past because the accountant knows exactly what you can legally claim.Why Is An Accountant So Important In Your Business?
It is so important to have an accountant in your business. But before hiring the services of an accountant, it is important that you know the chief accountant attributes that you should be emphasizing upon. The main works that an accountant is responsible for are auditing, and developing the financial information that is mandatory for the business plans that the company might be having.

Accountants are responsible for publishing all company financial information in compliance with accepted practices. The development of all company financial information must adhere completely to the uniformly documented accounting formats. An accountant is careful to make sure that he or she prepares all company financial statements by the relevant accounting rules and policies.

Hiring an accountant to organize your bookkeeping, payroll, and tax preparation, among other accounting tasks ironically can be an expensive outgoing for any business. However, online accounting and bookkeeping services help to cut down costs to make it more affordable for any large or small business. What’s more using computerized systems and the internet reduces the chances of human error and provides an accurate and reliable solution to your accounting needs.

Accountants not only work in public practice but many of them are working within private corporations, in the financial industry and various government organizations. Accountancy or accounting is the measurement, disclosure or provision of assurance about financial information that helps business owners, managers, investors, tax authorities, lenders and other stakeholders and decision makers to make resource allocation and policy making decisions.

In summary, whatever you do, make sure you keep in regular contact with your accountant. Usually, you can do this by sending a copy of your monthly reports so that they can see where you’re headed from month to month. Depending on the size of your business, you could then establish regular meetings whether it be monthly or quarterly to discuss those reports and your financial plans for the coming months ahead.

So give yourself a break and do things in a professional manner that will ensure the success of your business and your life. Use a professional accountant to do the books.”

Source: http://www.axiombpm.com/how-to-choose-outsourced-accounting-firm/

Types of Bookkeeping Services and its Cost

In a world of innovation and customization, “one size fits all” solution is simply not an option. A small operation or business shouldn’t hire ten accountants to manage low volume sales.  Nor should a massive volume company rely on two accountants for the job.

 

With that being said, here at Axiom`s accounting services, we are implementing highly customizable systems. So in this article, we’re going to mention the different types of bookkeeping services we offer and their pricing scheme.

 

  1. Monthly Bookkeeping Services

This is straight up handling of books and all the tax filings. This is suitable for most businesses without too much of a hassle. It’s common that some would offer weekly, quarterly, and yearly detailed breakdowns of expenditures and profit. Such detailed analysis is incredibly useful in getting an overview of what’s happening to your money.

 

The monthly plan is such a collective service that it normally includes:

  • Monitoring of bank accounts for legitimate and fraudulent transactions.
  • Creation of essential financial documents.
  • Planning for and analysis of tax burdens.
  • Alerts for overdrawn accounts.
  • Alerts for suspicious transactions.
  • Creation and implementation of a budget.

 

 

  1. Tax Preparation Services

Tax preparing is a raging season of looking at complex files and trying to mind missing ones. Guessing which ones you can cross off as a business expense and which ones you have to pay a tax for. Our tax preparation service sorts through all your tax documents and receipts then prepare a proper and accurate tax return. Needless to say, we keep the new laws issued and updates on the current year’s tax laws to cultivate the best outcome possible. If you’re looking for someone to fill out short forms or allowing for multiple deductions, this kind of bookkeeping service is very common and vital to getting things done right.

 

  1. Payroll Bookkeeping services

Having a lot of people to take the load off your hands may sound like a “good idea at the time” but when that time of the month comes where you have to take out your checkbook and issue the payment, it’s not so fun now is it? It’s a seriously hard challenge to build and maintain a proper payroll. If our payroll is not correctly and most importantly, don’t on a time essential manner, you’re going to have some “not very happy” employees. There are many laws that protect employee’s payroll, and if you violate any of them, then you’re at fault for that. And there will be some heavy fines to pay for such actions.

 

  1. Financial Services

Financial statements are everything related to your money. From your income statements to your balance sheets, cash flow statements and the owners and shareholders equity. The reason you’d get such financial services, it’s a simple way to look at your numbers. All your business financials past, present, and future.

 

  1. Accounts Receivable & Accountants Payable

Even though large companies can afford a fully-fledged staff to manage their accounts instead of the need to outsource it. They tend not to; it always results in money left on the table. An outsourced staff is working for results, while an employed staff is working to show up day today to collect the paycheck.

It also helps in keeping track of the date of your funds. Like whom you may owe funds to and where is our money held up. While it’s tempting to have a team in-house so you can go scream at them and blame them for everything that goes wrong, this will inevitably damage your credit scores. In a worst case scenario, you forget to pay the IRS, or you miss paying them for a portion of your income. What it could result is massive penalties or even jail time in some cases.

 

  1. Bank Reconciliation

This is a fancy term for checkbook balancing. This is massively useful for business that witnesses a difference between bank statements and personal records. Having a proper bank reconciliation can help you make an informed decision on which statements are wrong.

 

Every business has two dreams, one is the success, and the other is automating legal and finance. They never want to hear about taxes or legal papers need to be filed. They simply want to do what they started the business for. And bookkeeping outsourcing is as close to automating your finance as it gets.

 

Offering all sorts of custom made plans for your business, axiom bpm has enough man power take over the finance of any business. From a small company generating 200k, all the way to an empire netting 20 million. And all our plans are customizable and can be made to suit your business. You can scale up or down your operation on an a

Source: https://www.axiombpm.com/types-of-bookkeeping-services-and-its-cost/

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To be able to make sure that you possess the highest Return on investment possible out of your outsourced call center, you will find two primary things that should be taken into account. First, make sure that careful analysis delegate isn’t a ‘quick-fix’, but instead a lengthy-term investment and commitment. The price of start-up costs, the study done around the outsourced call center companies, and also the trust you’re placing within the effective company doesn’t fit well with anything apart from a lengthy-term commitment. Even when you want to delegate is project-based, should you intend on returning towards the outsourced call center later on you are able to develop a relationship with the organization and obtain more for the money.

Delegation of Outsourced Call Center Services in Right Manner

Also, you should make certain that the organization you delegate to may be the right fit for you personally, your organization, as well as your needs. Does your culture align with their own? How about their method of customer support, training, quality, values and values?

Don’t let yourself be afraid to request questions, request for references, as well as an official proposal. Remember that you’re meeting with the corporation for the business – they ought to have the solutions ready to provide you with.

Source: https://www.axiombpm.com/test/