Accounting Solutions in Form of Daily Reports, with help of QuickBooks Family, helps Client Make Informed Decisions

Client Requirement

Deliver accounting services right from basic entries of bills, payments and sales transactions to handling bank reconciliations for Checking and Savings accounts. We were also supposed to prepare quarterly invoice for customers and send it across on quarterly basis. The services included the following:

• Process bank statements for Checking and Savings accounts.
• Review documents received for payments and deposits and enter transactions as and when mails received.
• Process bank reconciliations for Checking and Savings accounts.  
• Complete bank reconciliation and save reconciliation report in PDF for our perusal.
• Prepare yearly invoice for customers as per mail received.
• Entering sales details in QuickBooks
• Entering bills and invoices in the system from the scanned documents
• Calculating and processing weekly payroll of their contracted clients
• Calculation of Payroll taxes each quarter of their contracted clients
• Generate Customer Statements from QuickBooks and send it as per requirements
• Enter Cost of Sales month end entries and generate reports

Hi-Tech’s Performance

This is an ongoing project where we handle the entire accounts. Some of the measures taken by Hi-Tech include:

• All the work was set to be done on the client systems.
• We started performing partial bookkeeping by commencing with sales entries.
• We quickly added reconciliation work and started working on other expense documents.
• All the work has been divided into a team of two bookkeepers who are dedicatedly working on specific client accounts of the customer.
• Follow up with client for missing documents and bank statements if were not received in time.
• Review documents received for payments and deposits and enter transactions as and when mails received.  Extract documents received and rename the same and attach them in QB online along with transactions entered for client perusal.
• Bank reconciliations – Prepare query list for missing transactions with suggestions for client consent. All the invoices of the client were issued by Hi-Tech after client confirmation.

Software Used

QuickBooks online, QuickBooks offline, Microsoft Excel, Adobe Reader

Benefits to Client

The client has gained more confidence about the capabilities of the outsourcing system. Recently, the client added newer customers, ultimately adding more tasks to Hi-Tech

• The client has given their firm’s entire bookkeeping to us in addition to their customers
• We added doing the management accounts and accounts of all their new clients
• All data has been organized and it helps client to have daily reports for informed decision making