Accounting Outsourcing

8/3/2019 Accounting Outsourcing

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TOPS Technologies Pvt. Ltd.

1TOPS Technologies confidential


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Why Outsource Accounting Services?

y Cost Benefits

y Manage seasonal increases in work-load by outsourcing additionalwork

y Filing of tax returns could be outsourced to meet peak season

demandy Focus on high end activities by releasing time from routine activities

y Greater flexibility in staffing-manage your resource levels in sync withdemand

y Shorter project delivery times due to the expertise and efficiency of the

outsourcer in transitioning and executing transaction processes

y Favorable time difference between India and US is useful especiallyduring peak load seasons



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Accounting Services Offered

y Tax Return Preparationy Preparation of federal as well as state tax returns for individuals and businesses (1040, 1041, 1120, 1120S,

1065, 940, 941, W2, 1099 etc.)y Calculation of Federal / State taxes for Employer and Employeey Software expertise in Pro Systems, Tax Tools etcy Monthly/Quarterly/Yearly Returns

y

Bookkeeping Servicesy Updating Chart of accountsy Maintaining Ledger accountsy Generating Trial Balance and closing accountsy Bank and Account Reconciliationsy Preparation of financial statements-income statement, balance sheets and cash-flows statements

y Payroll Processingy C

reating and maintaining employee profiles on the Payroll systemy Processing of Weekly/Bimonthly/Monthly Payroll from time sheety Calculation of Net Pay checksy Payroll Journal and Payroll Summary Sheety End of the year W-2 and W-3



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Cost Savings

Summary Cost

Average Cost of Accountant (USA) $ 50000

AverageC

ost of Accountant (India) $ 12000Employee Training Cost (India) $ 2000

Extra Operational Cost (Outsourcing) $ 8000

Management Cost $ 5000

Total Cost of Accountant (India) 27000

Savings 46%



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Outsource Process Flow


Tax prep Data Entry is Outsourced Data is received from customer Support staff sorts the data, scans (images) the documents, and

returns the original data to the customer Images are placed on a server, and admin staff tracks the processing

delay Outsource Partner retrieves images from the server Junior accountant performs data entry and prepares the return Senior accountant reviews the return Tax files are placed on the server Outsource Partner emails Your Firm status of the work

assignment Experienced CPA reviews the return, signs the return and forwardsthe paper work to the support staff

Support staff files a copy of the return, and sends the customer theoriginal return


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6

Your Firm

Open Mail Place in Q

Send toCustomer

Data Entry

Copy/File Return

Customer

A data entry specialist atout source firm enters the

data into the tax prepsoftware, verifies the

return.

Customer file isplaced in a Q

Return is copied. &placed in customer file.

CPA reviews the return,signs the return.

Support staff scans thecustomer info, and

saves digital images incustomer file.

Your Firm supportstaff opens the mail

Originals are mailed tocustomer

The return is sentto the customer.

Prelim Review

OutSource

CPAReview

Prelim review of thereturn at the out source

firm

Scan docs

Outsource Process Flow

Sends data by mail,fax, or email


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Why us?

y Focus breeds expertise-specialize accounting outsourcing

y Narrow targetmarket-our focuson smalland mid-sized firms helpsusunderstand and serve theirunique outsourcing needs better

y Competitive pricing driven byourlean coststructure

y Wellqualified and skilled teamcomprising ofaccountants,CPAs,andMBAs with prior experience in outsourcing accounting and tax services

y Flexible pricing structure designed tomeet varied outsourcing needs

Per hour pricing

Per full time employee (FTE) pricing-flat fee per month for a dedicatedoffshore employee

Per transaction pricing (for selective services)

y

Structured approach to processtransition and implementationy Scalable operationstomeetanyrequirements eitherthrough in-house

expansion orthrough ourlinks with otherservice providers

y Robusttechnologyand securityset-up backed up with astringentprivacypolicy

TOPS Technologies confidential 7


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Infrastructure

y TOPS Technologies is spread over ~ 4000 sq ft office spacewith all modern facilities to ensure optimum productivity

y Uninterrupted power supply

y Alternative communication facilities to ensure connectivityy Dedicated US based server in Chicago, IL

y Dedicated US phone no.

y Dedicated IT support for resolving IT related issues



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Security

y DataSecurityy Limited data movement from US as data is housed in server farms in US

or is processed through remote access of client servers

y All data is backed up regularly either in US server farms or our dataservers depending on client choice

y NetworkSecurityy Use of secured line (128 bit SSL) to access and transmit data (images) from

servers in US

y Segmented LAN with firewall protection

y All ports except DNS and SMTP severs are disabled for the external world

y PCSecurityy Access to source documents is restricted to authorized employees only

y PCs used by processors do not have CD ROM drives

y PCs used in processing are denied web access

y No printed papers are allowed out of the office premises



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Management Team

yNiral Modi, MBAy CEO, Niral has over ten years of experience in the Industry and has managed

and successfully managed multi million dollar projects. Niral has an MBA

from the US.

y Paula Shah, CPA

y Director, Accounting Services, Paula has over 5 years in this industry andworking as a accountant, tax and financial services knowledge, and

experience are combined to produce clear-cut business solutions for each

client.

y Aditya Modi, B.E.

y Director, Business Development, Aditya has over 5 years of experienceworking with various software companies managing products and

developing new business opportunities.



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Contact Details

y Telephone No. 213 928 3654

y Email address : [email protected]


Documents

Accounting Outsourcing