Small Business Financial Analysis & Financial Services Methodology

The work flow for Bookkeeping is designed to assure accurate management of data received from the clients and timely response to the clients. The said programme is customized to the particular requirements of the clients. This work flow consists of the following six levels :

LEVEL 1: RECEIPT OF INPUT DATA AND MANAGEMENT

Input data can be in various forms like invoices, receipts, bills, bank statements, credit card statements, check copies, etc. Input data is first received from the client via different media like email, fax, CDs, FTP, Remote Desktop, Online Data, etc. The said data, when received is stored in appropriate folders as per the policy.

LEVEL 2: SAMPLE WORK

As per the company policy, we provide the first few hours of work as Sample for the client to check the quality of work performed by our Division. Sample data received is reviewed as to completeness as well as legibility. In case of contrary, the same is communicated to the client. The type of work to be performed is understood from the prior communication with the client. Also, the software to be used is also inquired of the client and the same is to be used for the said assignment. There is an entire list of software being used by the Bookkeeping Division at Hi-Tech.

The details of the same are as under:

QuickBooks
Peachtree
Sage Line 50
Quicken
MYOB
IRIS
EXACT
Property Ware
Rent Manager
NetSuite
LaCerte

The software preferred by the client is then used to complete the sample work of the client. Sample work is completed by the person who is allotted to do the same. All the entries made are reviewed on a daily basis by the concerned Manager and queries raised are also discussed and, if possible, resolved at the same time. If the queries cannot be resolved at the end of the Manager, the same are sent to the client and responses are asked. Once the same are received, the said transactions are entered into the software and final reports are prepared as per the requirements. The completed Sample Work is then submitted to the client.

LEVEL 3: SIGNING CONTRACT AGREEMENT AND BEGINNING ONGOING WORK

Once the Sample Work is completed satisfactorily, client feedback is sought for the same. If the feedback is positive, then a request is sent to the client to continue the work as ongoing. In that case, a Contract Agreement is signed between Hi-Tech and the Client.

This agreement specifies the following:

Name and Address of Client
Date of Agreement
Media for sending Input Documents
Rates finalized for Ongoing Work
Mode of payment

The said Contract Agreement is then signed by authorized persons for both the parties. Ongoing Work is begun in the same manner as Sample Work. Daily updates are sent to the clients. Any queries in the course of work are first reviewed by the Manager and if they cannot be solved at that level, the same are sent to the client. After replies are received from the client, the transactions are entered into the software and final update is sent to the client.

LEVEL 4: RECONCILIATIONS AND OTHER REGULAR SERVICES

Reconciliations of all accounts are done on a weekly or monthly basis as per the client's requirements. Any account can be reconciled depending on the client's requirements. Also, other services as per the agreement with the client shall be provided, like weekly and monthly report generation for client management purposes.

LEVEL 5: OTHER CLIENT SPECIFIC SERVICES

There are other Financial and Value Added services which are provided to the clients on the basis of their individual requirements. These services are provided as and when required for by the client.

The Financial Services included the following services:

Weekly and Monthly Profit and Loss Account and Balance Sheet
Monthly, Quarterly or Yearly Comparison of Incomes and Expenses
Providing profit percentages, trends of Incomes and Expenses
Ratio Analysis

Value Added Services include the following:

Client-specific Report Generation
Inventory Management
Payroll Report Generation
Comparison of Actual with Targets
Comparison of Actual with Budgets

LEVEL 6: RECEIVING CLIENT FEEDBACK

Once the Ongoing Work has begun, the client shall provide regular feedbacks and updates regarding the services provided as well as the Diligence and Turn-Around Time. The same shall be taken care of while performing further services for the client. Feedbacks can also be received via web site. This shall be sent to the concerned department and reviewed by the concerned Head of Departments. Any changes, if required, shall be made by the department on the basis of the feedback

	Hi-Tech FPO: Financial Analysis and Services Methodology
	The work flow for Bookkeeping is designed to assure accurate management of data received from the clients and timely response to the clients. The said programme is customized to the particular requirements of the clients. This work flow consists of the following six levels : LEVEL 1: RECEIPT OF INPUT DATA AND MANAGEMENT Input data can be in various forms like invoices, receipts, bills, bank statements, credit card statements, check copies, etc. Input data is first received from the client via different media like email, fax, CDs, FTP, Remote Desktop, Online Data, etc. The said data, when received is stored in appropriate folders as per the policy. LEVEL 2: SAMPLE WORK As per the company policy, we provide the first few hours of work as Sample for the client to check the quality of work performed by our Division. Sample data received is reviewed as to completeness as well as legibility. In case of contrary, the same is communicated to the client. The type of work to be performed is understood from the prior communication with the client. Also, the software to be used is also inquired of the client and the same is to be used for the said assignment. There is an entire list of software being used by the Bookkeeping Division at Hi-Tech. The details of the same are as under: QuickBooks Peachtree Sage Line 50 Quicken MYOB IRIS EXACT Property Ware Rent Manager NetSuite LaCerte The software preferred by the client is then used to complete the sample work of the client. Sample work is completed by the person who is allotted to do the same. All the entries made are reviewed on a daily basis by the concerned Manager and queries raised are also discussed and, if possible, resolved at the same time. If the queries cannot be resolved at the end of the Manager, the same are sent to the client and responses are asked. Once the same are received, the said transactions are entered into the software and final reports are prepared as per the requirements. The completed Sample Work is then submitted to the client. LEVEL 3: SIGNING CONTRACT AGREEMENT AND BEGINNING ONGOING WORK Once the Sample Work is completed satisfactorily, client feedback is sought for the same. If the feedback is positive, then a request is sent to the client to continue the work as ongoing. In that case, a Contract Agreement is signed between Hi-Tech and the Client. This agreement specifies the following: Name and Address of Client Date of Agreement Media for sending Input Documents Rates finalized for Ongoing Work Mode of payment The said Contract Agreement is then signed by authorized persons for both the parties. Ongoing Work is begun in the same manner as Sample Work. Daily updates are sent to the clients. Any queries in the course of work are first reviewed by the Manager and if they cannot be solved at that level, the same are sent to the client. After replies are received from the client, the transactions are entered into the software and final update is sent to the client. LEVEL 4: RECONCILIATIONS AND OTHER REGULAR SERVICES Reconciliations of all accounts are done on a weekly or monthly basis as per the client's requirements. Any account can be reconciled depending on the client's requirements. Also, other services as per the agreement with the client shall be provided, like weekly and monthly report generation for client management purposes. LEVEL 5: OTHER CLIENT SPECIFIC SERVICES There are other Financial and Value Added services which are provided to the clients on the basis of their individual requirements. These services are provided as and when required for by the client. The Financial Services included the following services: Weekly and Monthly Profit and Loss Account and Balance Sheet Monthly, Quarterly or Yearly Comparison of Incomes and Expenses Providing profit percentages, trends of Incomes and Expenses Ratio Analysis Value Added Services include the following: Client-specific Report Generation Inventory Management Payroll Report Generation Comparison of Actual with Targets Comparison of Actual with Budgets LEVEL 6: RECEIVING CLIENT FEEDBACK Once the Ongoing Work has begun, the client shall provide regular feedbacks and updates regarding the services provided as well as the Diligence and Turn-Around Time. The same shall be taken care of while performing further services for the client. Feedbacks can also be received via web site. This shall be sent to the concerned department and reviewed by the concerned Head of Departments. Any changes, if required, shall be made by the department on the basis of the feedback