From our experience, we have found that during the process of finalizing an overseas outsourcing partner, several questions come to the mind of companies deciding to outsource their activities before they finally decide the outsourcing partner.
We have listed below the probable queries and the likely answers to such queries to make your job easier.
- What are the benefits of outsourcing accounting and tax preparation services to FinTax Experts India?
- If FinTax Experts's accountants are located offshore, how is it possible to keep them updated on United States tax laws?
- How long will it take FinTax Experts to prepare my clients' accounts and tax returns?
- How do I communicate with FinTax Experts's offshore staff?
- What do I tell my clients about who is preparing their accounts and return?
- Do I have control over client files?
- How does FinTax Experts India ensure and safeguard the security of my clients' personal information?
- After I submit a client's data for processing, what will I get back form FinTax Experts India?
- How are FinTax Experts's services priced?
- When should payment be made for the work done?
- What are the benefits for offshore customers in outsourcing their taxation and book keeping/accounting work to FinTax Experts India?
- What about doubts that may arise and clarification that may be required regarding the work?
- Do we enter a formal contract before we start work?
1. What are the benefits of outsourcing accounting and tax preparation services to FinTax Experts India?
FinTax Experts India offers various benefits which include increased availability of qualified personnel, secure online access, faster turnaround time and higher customer satisfaction.
But believe us, cost is the most important advantage and by outsourcing the bookkeeping and tax preparation of tax returns to FinTax Experts India you can save over 60 percent over what it is costs to you now.
Simultaneously, you can reduce your need of increasing staff during year end and peak tax season. Moreover, by capturing and storing all your clients' accounts and tax related information in electronic format, you get advantage of the not only latest technology and ensure improvement of workflow, fasten your tax preparation and finalization of accounts process, but also make your firm paperless.
2. If FinTax Experts's accountants are located offshore, how is it possible to keep them updated on United States tax laws?
FinTax Experts’s Chartered Accountants and other accountants are professionals who are specially trained to work as per US tax laws.
They keep themselves updated through ongoing classes conducted live by tax professionals well versed in US tax laws. Also, through the internet, the said professionals are in touch with the changes taking place in he US law.
3. How long will it take FinTax Experts to prepare my clients' accounts and tax returns?
FinTax Experts's normal turnaround time is two to three business days. However, if needed, one business day response is available.
4. How do I communicate with FinTax Experts's offshore staff?
FinTax Experts India has devised an Internet based document management tool that you shall use to store your clients' source documents electronically. This convenient method to use tool also enables you to enter notes and comments about your clients' tax data and accounting information that is important and pertinent to the preparation of accounts and tax return.
The FinTax Experts staff will inform you of any important information about the accounts and return using the same tool.
Process : Read More...
5. What do I tell my clients about who is preparing their accounts and return?
While our accountants will prepare the accounts and tax returns, the role of FinTax Experts India is transparent to the process from your clients' perspective. It is your firm who will be dealing with the client and accounts preparation and tax planning, shall not be finalized without getting it reviewed and approved from you. Read more about how you can explain this scenario to your client.
6. Do I have control over client files?
Yes,always you are in control as your firm maintains the original hard copy of your clients' records. Additionally, you can access the electronic files from anywhere on the Internet to see the status of each assigned task.
Once the assigned task is complete, it is securely transmitted to you in a file format compatible with accounting and taxation software being used by you. If necessary, the data can easily be modified online by your staff or your FinTax Experts team.
7. How does FinTax Experts India ensure and safeguard the security of my clients' personal information?
Client accounting and tax information is electronically shared on 128 bit encrypted secure FinTax Experts servers utilizing the latest data encryption technology. FinTax Experts servers are located and hosted in the United States and all information is maintained online.
A log entry is automatically generated every time it is accessed. Moreover, FinTax Experts accountants are bound by elaborate non-disclosure agreements that require complete confidentiality.
Security Policy : Read More...
8. After I submit a client's data for processing, what will I get back form FinTax Experts India?
FinTax Experts India will create separate electronic files for each type of sourced document. These documents will be kept into electronic folders, properly organized to track the flow of the particular task.
The information on the sourced documents will be keyed into your processing system and after completion, FinTax Experts India will inform send an email informing you that both sourced documents and electronic data are ready for you to download and review.
9. How are FinTax Experts's services priced?
FinTax Experts's accounting and tax preparation services are based on the complexity of the accounts and tax return.
However, what is certain is that the prices are so low and attractive that you shall not be able to resist the temptation of outsourcing your account and tax services to FinTax Experts India.Would you believe reducing your cost by over 60%.
10. When should payment be made for the work done?
We agree to the terms that payment will be made by you only after completion and submission of the work for your approval. In normal circumstances, the review of the work is completed within 15 days from the date of submission and any corrections suggested by our clients are executed within the next two-three working days.
Thereafter, the bill is raised for the work and payment has to be made in agreed mode of payment within 7 days from the date of receipt of our invoice.
11. What are the benefits for offshore customers in outsourcing their taxation and book keeping/accounting work to FinTax Experts India?
- The prime advantage is the ‘COST FACTOR’. You will be spending not more than 1/4th to 1/5th of what you spend now on your book keeping/accounting and taxation related work.
- Further the work is done by Professionals trained to work on software used in USA and Europe in the field with longstanding experience.
Benefits : Read More...
12. What about doubts that may arise and clarification that may be required regarding the work?
You can send us a mail to address any of your doubts. We shall, normally, get back to you within 24 hrs.
You can contact us at anytime by sending a mail at clarification - at -fintaxexperts.com
We also adopt the same procedure when we have any doubts needing clarifications on any data or information provided by you.
13. Do we enter a formal contract before we start work?
Yes, we have a contract format which we shall send you once you decide to hire our services. Of course we can make some alterations in the format, if necessary without affecting either of our interests and losing the object of the contract.
The US CPAs Association has also recommended such contract between the outsourcing organization in US and the Offshore Service provider.