The range of outsource QuickBooks bookkeeping and tax preparation services that we offer include – Accounts receivable, Accounts payables, reconciliation, bookkeeping services and management reporting.
Bookkeeping services
We offer online bookkeeping services with considerable experience in bookkeeping and accounting. We add value to outsourced bookkeeping by attaining customer’s satisfaction. The services which we offer are as follows:
- Double entry bookkeepinge
- Trial balance finalization
- Setting up charts of accounts
- Customized bookkeeping solution available
- Perform year-end closings
Accounts Receivable Outsourcing
We offer outsourcing accounts receivable services. These services offer us to focus on core activities by which we can increase our profitability and productivity.
- Record and account for revenue
- Maintain client Bill and statements
- Reduce daily sales outstanding
- Maximizing the financial liquidity
- Reduce operational and administrative cost
- Prepare collection and cash flow management
- Customer creation and updates
- Booking of receipts
Accounts Payable (AP) Outsourcing
Accounts payable outsourcing services integrate and manage supplier facing process. By this, we minimize the burden of investments on infrastructure, administration, human resource and it setup. It greatly simplifies the accounts payable process.
- Reduce accounts payable processing cost.
- Greater supplier satisfaction
- Customized reporting
- Integrate and manage supplier facing processes
- Supplier network management
- Exception resolution
- Multi-level invoice validation
Bank/Credit Card Reconciliation
Reconciliation helps us to update the cash position of the company at regular interval of time. Reconciliation includes following points.
- Clear outstanding payments
- Clear deposit taxes
- Quick and precise matching of company’s book and bank balances.
- Prepare details of variances
- Verify consistency of balances
- Reconcile receivable accounts
- Reconcile payable accounts
Payroll services
Payroll service plays essential role in small businesses. It helps the small businesses in many ways which are as follows.
- Payroll Sheet and Paycheck Creation
- Calculation Of Federal Dues(Taxes) and check creation
- Calculation of State Dues(Taxes) andcheck creation
- From 940 – Quarterly
- From 941 – Annually
- Reporting and filling W2 and W4
- Employee insurance deductions
Management Reporting
Financial reporting and analysis unable the management to evaluate the company progress in various business activities. Accounts payable and accounts receivable management reporting involves following points.
- Revenue and profit forecasting
- Monthly Accrual Postings
- Doing Year End and Month End
- Real time report updating
- Profit and loss statement
- Cash flow statement
- Empower outsourcing partners
Fixed assets accounting and management
Fixed assets and accounting outsourcing to US Businesses is also one of the important services that we are offer to CPA’s. This includes following points which are listed below.
- Real time report updating
- Reporting solutions available
- Management reporting within the budget
- Expense and overhead analysis
Frequently Asked Questions
Answer is simple- It’s always better to work with Experts. With over 20 years of experience in the field and our dedicated team of professionals, we ensure top-quality work for our clients. Our team comprises highly skilled professionals who are proficient in accounting software and stay updated on the latest US regulations. Offering online bookkeeping services worldwide, we allow you to delegate time-consuming tasks to us, enabling you to focus on business growth. Our management team comprises diverse talents with strong academic backgrounds, teamwork skills, expertise, and a forward-thinking vision, catering to clients’ needs effectively. When you outsource accounting to us, a senior manager is assigned to your account as your single point of contact, ensuring seamless communication and project management. You can reach out to your SPOC anytime for project updates or to assign new tasks.
How to get started is the question which comes to mind while making a decision to outsource and most of the companies see a challenge in outsourcing bookkeeping. However, it is very simple…!!
The first step after you have decided to outsource involves-
Verbal Communication– You can contact us or leave us a message and we will call you back within 24 hrs. We discuss and understand your need and suggest the best outsourcing option available for your company and decide over a Verbal Agreement.
Engagement Letter– Post the verbal agreement, we send you an Engagement Letter which is a contract along with Non Disclosure Agreement (NDA) from our side. NDA is a mutual agreement ensuring data security and our commitment towards it. You simply have to revert with the accepted Engagement letter and here you have a team set up to manage you bookkeeping and Accounts…!!
Process Set Up– The last and final step is to set up your company’s account here and proceed. The account set up is again a quick process and with our expert IT Team your outsourcing process becomes a pleasant experience for you.
We provide you options to work with us as per your convenience and you can choose from:
FTP Server– You upload a copy of your data, the bookkeeping team process the data update your books and you can simply download the updated files next morning..!! View the Process
Remote Access– You upload a copy of data, bookkeepers connect to your computers through remote login services and update your books. View the Process
Online Bookkeeping: With the help of online bookkeeping applications we work on the uploaded data and you can check your data from anywhere and anytime. View the Process (Uploading Data- You simply have to scan your documents to be processed (Bills, receipts, expense sheets, bank statements etc) and upload on server or by faxing or mailing as well.)
We will update the books/reports after processing the documents and send you on daily/weekly/monthly basis.
You will receive filtered information through reports and statements which you can directly use for making important business/financial decisions.
The Software is specifically chosen based on the needs of your business. We work on all types of s/w including Peachtree®, MYOB® and QuickBooks®. There are a lot of considerations to think upon before deciding over Software. We would suggest you speak with ours expert bookkeepers to make the right choice. Our staff is thoroughly on accounting and trained on all these software. In most of the cases, you need not to buy any new hardware or software and we can set your account with the existing infrastructure.
The cost structure for the Virtual accounting and online bookkeeping services provided by Mindspace Outsourcing match up with that of the market and much more of the value you get out of an in-house bookkeeping department. You can save on a lot of resources hiring and training, you save office space and the valuable time used up managing an accountant. You can try our free Expense Calculator and compare the cost benefits of Outsourcing Accounting and Virtual Bookkeeping. Team at Mindspace Outsourcing are bookkeeping and accounting professionals. Outsourced Accounting is an unparalleled task for us. The staff is highly trained and skilled in accounting and bookkeeping. We assign tasks to professionals who are trained in accounting and bookkeeping. We have policies in place which assign tasks to the skilled manpower that is well equipped with the knowledge in the procedure. All of these arrangements take out all the efforts that you put in an in-house bookkeeper.
The team at Mindspace is well-versed in major accounting software such as QB Pro, QB Enterprise, Xero, WaveApps, QB Online, Sage Intacct, Sage50 and Netsuite etc. We host clients’ accounting records on our own FTP server. We provide you with full access to your data, but you must purchase the license for the accounting software we use for your job. Access to the FTP server is set up on your computer. With any
computer enabled with internet access, you can access your accounting records.
At Mindspace Outsourcing , security is paramount. We employ bank-level encryption and state-of-the-art infrastructure to safeguard client data. Our ISO 27001 certification underscores our commitment to modern security practices. Access to records is restricted to clients via a highly secure FTP server. Our security framework includes three layers: Workstation & Network Security, Physical Security, and Employee Credibility. For more details, visit: https://www.mindspaceoutsourcing.com/security/