Outsourcing QuickBooks Accounting to Thomas & Alex

A simple question and answer session will help you decide why you should Outsource your QuickBooks Bookkeeping to Thomas and Alex.

Why Outsource Bookkeeping?

Get the cost advantage of Outsourcing. Where you could be spending nearly $2500-$5000 on an assignment of Bookkeeping; in India this can be done for nearly $1000.Thus this gives you the advantage of savings of nearly 50-65%. Another advantage is that this also saves you time which you can invest in enhancing your core-competencies.

Why to use QuickBooks as the software package for outsourcing Bookkeeping?

QuickBooks gives you several advantages over the other packages like MAS 500 and Peachtree.

• Anytime, Anywhere - You have complete freedom to access your finances from work, home or on the road.
• Control Access - Control who accesses your Finances and Data and what they see with password protection and multiple permission levels.
• Multiple Users - Allows multiple Users to access your Company Data plus a Free Accountant User
• Activity log - Reference the always - on Activity Log to see every transaction
• Audit trial - Keep the historical detail of all added, modified and deleted transactions
• Automotive Data Back-up - Get the peace of mind of having your data backed up automatically, everyday
• Local Copy of Data - Download a copy of your data to your PC
• Online Security - Keep your data safe and secure with security precautions

What are the variants available in the QuickBooks range?

The different versions of QuickBooks providing various features are as follows: Simple Start Edition This edition is fast and easy to install, learn and use. It saves time and effort. It enables printing of checks, paying bills, tracking customer dues and generating sales invoices and receipts. Creating reports to see a business performance overview is just a mouse click away. Pro 2006 This version provides advanced tools for managing finances including estimation and time tracking. It integrates with over 100 business applications. It also provides some new and improved features such as more customization options and professional design-templates, better data-backup options and enhanced class tracking. Pro for Mac This provides the simplest accounting approach on the Mac. It uses on-screen forms that resemble their real life counterparts and allows you to fill in invoices and other business forms easily through its intuitive command set and understandable English. It has excellent time tracking and job-cost estimating features. Though it has not been upgraded recently, it remains the best choice for Macintosh accountants. Premier 2006 This suite provides the most comprehensive tools for financial management of small businesses. It goes beyond the features provided in QuickBooks Pro, providing a deeper insight into business performance. It not only improves accuracy, but also provides new, time-saving financial management tools for forecasting and creating business plans to help you scale up your business faster. Online Edition This edition provides anywhere, anytime, secure online access for small businesses. It enables 24x7 access and updating of business or financial transactions through a web interface. All business functions like invoicing, checking, reporting etc. can be done through your PC / Laptop with an Internet connection. Enterprise Solutions 6.0 This version is the best in terms of power and scalability for business growth. It provides doubled database capacity and 200% speedier performance. It has multi-user capabilities for scaling up to 5, 10 or 15 concurrent users. It has advanced functionality like over 120 built-in reports and forms, in-depth financial analyses and setting user permissions for 115+ activities for enhanced security. Inventory management, training and dedicated support, automatic upgrades and low cost of ownership have ensured an installed user base of over 25000.

Which segments can benefit from QuickBooks' industry-specific solutions?

The following industries can use QuickBooks products:

• Finance
• Professional Services
• Manufacturing & Wholesale
• Retail
• Real Estate
• Contracting & Subcontracting and
• Non-Profit Organizations

What type of professionals can benefit from QuickBooks product range?

Accountants and finance professionals

• Professional service providers, especially financial services
• Manufacturers
• Wholesale Distributors
• Retail Agents
• Builders, Specialty trade, Remodelers and General Contractors / Subcontractors
• Non-profit workers raising funds / donations

What is the value proposition of Outsourcing QuickBooks Bookkeeping to Thomas and Alex?

A recent survey done by Everest Group shows that 37% of all businesses is Off shoring their services .Out of which 50% are satisfied and very satisfied. Such is the value proposition of Off shoring Bookkeeping services to India. Thomas and Alex have recently joined the bandwagon of providing Outsourcing Services. In this short span of time it has been successful in forming good business relationships. One of the clients Plitt Fishing Company has been outsourcing its Accounts Receivable Services to Thomas and Alex. And they are so satisfied with the services that they are furthering their process of Bookkeeping.

Describe the process of establishing Outsourcing Business Protocol with Thomas and Alex.

It is a simple process which involves

• Checking on the Enquiries that you have with our website
• Developing Contact through e-mail, Faxes, Telephone Calls, Skype Calls
• Brief you about our Services and Terms and Conditions
• Get Order in place (what type of work, period of work)

What is the mode of payment?

Payments are usually done in two ways at Thomas and Alex:

• Time and Material
• FTE

At Thomas and Alex FTE is the preferred mode of payment. Usually it's done either as Full FTE or Half FTE. A month's advance is required to be paid. This usually acts as Security deposit. We usually Bill our Clients at the end of the month or the first week of the succeeding month.

How is the issue of security taken care of at Thomas and Alex?

At Thomas and Alex QuickBooks two versions are in use Pro Version Online The team at Thomas and Alex first accesses Citrix Desktop which enables us to login to the Clients Server. Every individual on the Team is given a Login password .From here it accesses the Respective Accounting Software /ERP system. At each stage your Data is protected with the provision of Encryption or Restricted data Access. Hence you are always in control of your data as the passwords are provided by you and you have the power of restricting any unwanted intrusion. Hence your data is completely secure with us.

How do you Benchmark your services?

At Thomas and Alex we benchmark our Services based on Customer Satisfaction. Since Bookkeeping Services are a continuous process and you are always in control of your data, your instant reaction on the services is the feedback we use to benchmark our further proceedings.

How is the Governance Issue taken care off at Thomas and Alex?

All our clients are made to sign a mutual Non Disclosure Agreement with us. All our terms and conditions are made very clear on Service Level Agreements. We strictly abide by them.

Is Outsourcing a necessary evil?

Definitely. You have the advantage of Global Positioning. Plus some other benefits like

• Reducing Cost
• Driving Innovation
• Ability to focus on Core Competencies
• Improving Cash Flows

To quote NASSCOM'S Chairman and President and CEO of Digital Globalsoft Mr. Som Mittal on Outsourcing their Finance and Accounting Services to Ernst and Young " Now we devote more people to each, per dollar of overhead, than we could afford before. And with quality of your employees we are doing a better job for our clients " .

How to evaluate your Outsourcing Vendor?

• Does the Vendor have the breadth of services and process expertise to service my requirements?
• Does the Vendor Organization have stability and a firm commitment to future growth?
• Does the Vendor have a sound Strategy and infrastructure in place for business continuity?
• Does the Vendor have effective quality and security assurance processes?
• Does the Vendor have the capability to become a true long-term outsourcing partner?
• Does the Vendor have the capacity to provide quality human resources and scale up when required?