Online Web AccountantsNigel McAuley

ACA/CAZ

Online Web Accounting Limited (OWA)) 1Outsourcing, an Irish solution.

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What We Do

• Ireland’s leading provider of Outsourced Accounting Solutions to Professional Accounting Practices and clients.

• We deliver tailor made Irish solutions to meet the needs and wants of our clients

• We operate, maintain and supply online accounting software

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5 Years of Exciting Development• Investment of time, money, software trials • Development of business processes / procedures• Development of software IP for ourselves initially and for re-sale.

• Determining which part (s) of the process and operations can best be outsourced

• Developing new markets • Transfer of clients from Ireland to Sri Lanka• Establishment of strategic partnerships• Delivery of a high quality products

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Our Professional Expertise• Accountancy - Nigel McAuley – ACA/CAZ – Managing Director .

- Richard Doggett – FCA Director & Public Practitioner

• Technical - Paul Meier – Chairman (Founder member of several technology companies).

- Giles Palmer – Technical Director

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The Importance of Outsourcing

1. Reduced staff costs that continually rise 2. Shortage of skilled staff3. Better utilisation of your time4. More capacity to grow5. Increased profits through increased margins6. Access to new markets

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The challenges when considering outsourcing to Sri Lanka

1. Lower costs do not always produce better quality2. Investment in Sri Lanka vs JV vs Partnerships ?3. Building up trust with potential partners – takes time!4. Communication issues arise-due to language skills5. Shortage of skilled graduates from local Universities6. Rates need to be competitive internationally6. Local infrastructure needs major investment

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Why Clients Use Us

1. We offer SME clients free use of online Software2. Typical cost savings of up to 25% - 30% 3. Cost effective way to expand 4. Quick turnaround due to processes and technology5. Less Hassle - Less Pressure6. Established processes and procedures 7. Use of qualified & Irish trained professionals

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Professional Services

1. Monthly management accounting 2. Payroll services P30/P353. Vat 3 returns4. Preparation of full working paper files5. Preparation of full statutory accounts6. Income Tax and Corporation tax comp.7. Filing of all tax returns on Ros

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Outsourced Services

1. Bookkeeping and accounting services

2. Indexing and data entry services

3. Web site design & development

4. Software design and development

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How Does it Work?How Does it Work?

- Paperless

- Quick

- Accurate

- Less Expensive = Happy Clients

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Accounting Software

1. Inrax – online accounting2. Quickbooks3. Sage4. TAS5. MYOB6. Viztopia accounts production

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How do we do Accounting How do we do Accounting business?business?

1. We work with client bookkeepers

2. We supply admin person / bookkeeper

3. We provide monthly management accounts

4. Annual Accounting services

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How we operate with or without Bookkeeper at Clients premises – 10 Step Process

Step 1 – Client meeting and planning

Step 2 – Develop process around client in-house resource /admin person

Step 3 – Organise client standard set of procedures

Step 4 – Gather all source docs to organise, scan and file

Step 5 – Remotely access client PC remotely or use of online accounting

Step 6 – Review the source docs and data entry and check reconsiliations

Step 7 – OWA prepares monthly management accounts / full w/papers

Step 8 – Present monthly management accounts to client FM/FD

Step 9 - File VAT 3 / P 30 through ROS after checking

Step 10- Prepare annual statutory accounts/ Corporation Tax & Directors Tax returns

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Some members of our teamSome members of our team

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What’s on offerWhat’s on offer1. If you need to produce monthly management accounts or need to utilise

part of your admin process, then we can help you.

2. If you are considering outsourcing to Sri Lanka, we can provide professional advice to you based on our experience on the best ways to outsource Intelligently, we would be happy to talk to you.

3. We may also be able to assist with funding investment in Sri Lanka either through business partnerships or through a JV.

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Online Web AccountingOnline Web Accounting

Thank you for your timeQuestions

Contact details: Head Office

t (+353)-41-9813867 f (+353)-1-2586746

n.mcauley@onlinewebaccounting.com