How does web accounting and payroll outsourcing work?

Web accounting is for anyone and everyone - from large to small, from individual to corporate, from micro startup to multi-national web counting is for everyone. Web accounting allows user to separate out the different accounting functions, then decide where and by whom each function should be performed. This might sound complicated or esoteric however, we carefully work with our clients to break down each step and simplify each process to enable a concrete processes to be measured then controlled. Web accounting can be accessed from any PC with Internet access 24hours a day 7 days a week with no special software required. Therefore, typically web accounting outsourcing delivers better results, safer, in a more secure, efficient systematic manner then an internal accounting solution, consisting of internal accountants and internal software and “tunnels” into local WAN.

How Do We Do It?
1st - Separate and identify ACCOUNTING versus DATA ENTRY.
DATA ENTRY – Usually it is performed on a daily basis in some form by someone in the at the clients facility. Often this raw data is then given to the accountant to retype into the accounting software. Typically, the data includes creating sales invoices, entering payables, creating payment orders, entering bank statements and maintaining a cash desk.
With our web accounting software ALL of all the above items DO NOT require accounting knowledge. Our system typically makes the above data entry easier to accomplish then done without our systems. If a person can use a computer and MS Excel, then typically they will be able to enter into our application, easier then the activities are normally performed without the systems.
At the same time, we emphasize imports and exports of data from other systems.

ACCOUNTING – This primarily include controlling data (if a systematic problem is identified, corrective actions are taken that data entry errors do not continue). Post transaction with related debits and credit to the general ledger, ensuring accounts receivable, accounts payable, advances and bank match the general ledger, preparing financial reports, assisting with comparing budget versus plan and ensuring smooth running systems such as weekly payment orders. We organize and manage that the maximum amount of data is imported. We maintain contact with data entry staff to answer questions and supervise that financial reports, taxes and dealing with government offices and audits are completed properly.

2nd - WHERE is the DATA entry performed
This very flexible we help determine where the data be entered, either locally at the company facility or externally or some mix. Often sales and payable invoices are entered at the client facility and the bank and payment orders are performed at a company headquarters or at the external accountants. Systems are always customized based on the clients requirements and can be easily changed based on staffing changes or other market conditions.

3rd - WHO Should do what
With the flexibility of the web based accounting solution it is possible to decide who should control and be responsible for activities. For example, sales people can create invoices, but only the accountant can setup new suppliers and customers. Another example, is a treasury person can enter bank statements and prepares payment orders, but can not enter payable invoices or edit supplier bank accounts. Each users privileges and the screen can be customized to ensure they only have access to what is needed.

DATA IMPORTS EXPORTS
Importing and exporting data is more efficient and accurate then retyping. Our systems exports most reports and data MS EXCEL. We create payment orders that can be exported into most banks Internet banking software.
The system can import data from most banks in standard cvs format.
Data that we can import include Bank (in various common formats), Cash desk, Payable invoices and sales invoices, customer information, supplier information, products, chart of accounts, budget and forecasts as well as others.

Internal assistant vs External assistant
Our solution permits maximum flexibility where the location and duties of staff can be switched back and forth and our staff is always available for backup. For example, if a company has a data entry person on staff and they become ill, then data entry can be done externally at our facility. The key is to decide on the most practical and cost effective solution for the client. If a client is interested in reducing cost, they can enter as much data themselves. If a company does not want to be bothered with data entry they can do as little of the data entry as possible - all is possible and flexible. Whoever enters the data from whichever location, all information is available from any PC connected to the Internet all the time.