Frequently Asked Questions about Outsourcing Bookkeeping to India
Is outsourcing bookkeeping to India considered safe?
Bookkeeping outsourcing has been going on for a few decades now. Outsourcing to a company like us that’s been established in the USA for many years is quite safe. While our operations are based in India, for all intents and purposes, you are doing business with a US-based company.
Outsourcing to us is in some ways safer than even hiring a local in-house bookkeeper. We perform thorough background checks on our bookkeepers and train them well on the security aspects of bookkeeping. All our bookkeepers have a good reputation and a college degree. We have been outsourcing since 2005 without any issues.
Our physical separation creates an inherent separation of duty, detachment and increased security. Our virtual bookkeepers do not have access to your check books. They also cannot intercept any mail your bank may send you to warn you of a fraudulent transaction. Almost all banks prohibit remotely executed international transfers. They require you to be in person. Our remote distance and 10+ hour time lag has made us the defacto choice to perform nightly cash and merchant card reconciliations for many retail stores and small businesses.
Last but not the least, for the plans that include a supervisor, we have the supervisor watching over the work done by the bookkeeper. This creates an additional layer of security.
Why Outsource Bookkeeping to India?
India has a rich pool of bookkeepers and accountants. Often these bookkeepers have bachelors and masters degrees, and significant experience with popular software such as QuickBooks. Best of all, the cost of living in India is much lower than the US. So, you get access to all this talent at a fraction of the cost. Also, the ability to reconcile the day’s transactions at the end of the day due to the 10+ hour time lag makes it a very convenient setup.
What is Bookkeeping Outsourcing?
Bookkeeping outsourcing is the process of letting a virtual bookkeeper handle a non-core process such as bookkeeping. Since bookkeeping is unrelated to a small business’ core competency and is typically not a revenue generating activity, it is best handled by a specialist firm. Outsourcing is most efficient and cost effective when the firm has access to numerous virtual bookkeepers proficient in QuickBooks.
Will Outsourced Bookkeeping Services work for me?
Yes. In the past, only large businesses could benefit from outsourced services. Now with Globalization through the Internet almost any business can benefit from outsourcing. To be successful with outsourced bookkeeping services, you only need to be comfortable with using email. A virtual bookkeeper may also be available for discussions over instant messenger or the phone.
How can you offer high quality services and low rates at the same time?
1. We have been in business since 2005 and we only support QuickBooks which is used by a vast majority of small to medium businesses. We do not have to waste our resources supporting other software like Peachtree, Tally or Xero. As a result, our virtual bookkeepers have years of QuickBooks experience and are extremely proficient with QuickBooks.
2. Our operations are handled out of a town in India. So, when you outsource to us you outsource bookkeeping to India. While our staff have bachelors or masters degrees in accounting and several years of QuickBooks experience, they benefit from lower cost of living in an Indian town. Our staff are “extremely” satisfied with their pay structure which is much higher than what they would make at other companies. Our clients are very happy with our quality and cost model. It’s a win-win situation.
3. We service a number of clients in a variety of industries and have a pool of virtual bookkeepers. Each team can focus on just one industry and perform just one task i.e., bookkeeping. As a result, they are experts in that industry. Contrast this with an in-house assistant who focuses on a few industries over multiple jobs and handles a variety of tasks.
4. As a business owner, we all know that service interruptions and turnover greatly hurt quality. We completely eliminate turnover headaches for you. Let’s face it. It’s not fun losing a bookkeeper and then having to train them when you have little interest doing it and know little about it.
Is there a commitment or contract to get started?
This is the best part. Unlike with a full-time bookkeeper, there is much less commitment required on your part to use our service. There are no setup fees to get started. There is a small upfront deposit (to ward off competitors trying to understand our operations) and a simple non-binding agreement. This deposit will be applied towards monthly services. For example, if you pay a $100 deposit but want to cancel after only 2 hours of services, we will refund $100 – 2 hours x $8 per hour = $84. Either of us can cancel the agreement at any time without any cancellation fees or penalties.
Note – Our catchup services for businesses whose books are not up-to-date. Catch-up does require a non-refundable deposit because it requires significant analysis and investment of time from our supervisors to clean up. However, businesses that are caught up , can directly subscribe to a monthly plan where the deposits are refundable as noted above on a pro-rated basis.
How long will take for you to get up to speed?
Once you sign and fax the agreement back to us, and make the deposit, we can start the same night.
- Since we do very specific tasks such as bookkeeping and data entry for a variety of firms, we are very familiar with the nuances and best practices associated with performing these tasks.
- We use specialists to support the specific task at hand (e.g., virtual assistant, virtual bookkeeper, virtual paralegal, etc.).
We may still need to understand the specifics of your firm if your operations are rather unique. Depending on the level of uniqueness, the actual ramp-up time may vary. However, in most cases, we are off and running the same day.
How do I get started?
Click on the “Home” or “Get Started” menu item on the top of this page, complete the form and click the Submit button. You can also email us at email@example.com or call us at 703-957-6938. Our representative will send you a simple non-binding services agreement via email which you will need to sign and fax/email back to us. Once you make a small mutually agreed upon deposit via paypal, we can get you started the same day.
How can I be sure you are actually working?
How often do you actually watch over your in-house bookkeeper’s shoulders? With remote bookkeeping done on your desktop, you can actually watch over the remote bookkeeper. You can see the bookkeeper move their mouse and make entries into the QuickBooks system. You also have the option to review the QuickBooks Audit logs which would show how long the bookkeeper has been active on QuickBooks and making entries. More importantly, we are in the business of building a win-win long-term partnership with you. We are not in the business of ripping you off, making a quick buck and running. We want you to value our services. We want to service you for the long-term! We want to help you grow your business, and grow along with you.
How often do you log the hours you work on?
We log our hours every day. So, at any given time, you will know exactly how many hours we have worked on and what we’ve been working on.
What does a supervisor get me?
All our plans above $260 include a supervisor with the plan at no additional cost. The supervisor is much higher quality resource who has good English speaking skills and higher level accounting skills. The supervisor will your single point of contact. He/she will get to know your business and will be able to supervise the quality of bookkeeping and deliver services to your satisfaction. The $260 plan on average includes 1-hour of supervision per month, the $480 plan includes 2 hours of supervision per month and the $800 plan includes 4 hours of supervision per month.