| FAQ |
Work2india bookkeeping is a new concept for most people. We've tried to answer the most frequently asked questions here. If you have a question that is not answered in our FAQ, please email us your question. |
| 1. What are the advantages of bookkeeping accounting & tax services with work2india? |
| 2. What kind of training do you provide to your employees? |
| 3. What is average turnaround time? |
| 4. What about security? is my client information really safe ? |
| 5. I understand what you have said so far. But, will I not loose control on my clients if I decide to outsource. |
| 6. Will I ever face direct competition from Work2india of loosing my clients to you. |
| 7. Does my client data ever leave USA territory to your offshore location? |
| 8. Can I discontinue your services in between the contract time without any penalty? |
| 9. If I decide to discontinue, what will happen to my clients’ data. |
| 10. What are the benefits for offshore customers in outsourcing their book keeping/accounting work from the right service providers? |
| 11. How is it possible through the net? |
| 12. How to send the basic data across? |
| 13. How does our account gets updated? |
| 14. When should payment be made for the work? |
| 15. What about doubts that may arise and clarification that may be required regarding the work? |
| 16. What about confidentiality of the client and information furnished by the client? |
| 17. How is the tax return preparation done? |
| 18. Do we enter into a formal contract before we start the work? |
| What are the advantages of bookkeeping accounting & tax services with work2india? |
Work2india offers numerous advantages including increased availability of qualified personnel, faster turnaround time, secure online access, and higher customer satisfaction. Work2india can save you up to 50 percent over what it is costing you now. At the same time, you can reduce, or even eliminate, your need to increase staff during peak season. In addition, by capturing and storing all your clients' information in electronic format, you will be able to take advantage of the latest technology to improve workflow, speed your process, and take your firm paperless. |
| What kind of training do you provide to your employees? |
The Work2india team of chartered accountants has completed rigorous training and testing to provide you with only the most accurate and reliable information. Our extensive training program, developed and administered by UK Based CPAs, ensures that everyone on the Work2india team is proficient in: |
- Sage ® Business Software Support Services
- Timeslips ® Employee Time Tracking Software
- Quickbooks ® for write up services
- Peachtree ® accounting software.
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| What is average turnaround time? |
Typically, projects are turned around quickly. Depending on the type and difficulty of work, you can usually expect turnaround to be within 1-3 days from the time projects are submitted. |
| What about security? is my client information really safe ? |
Work2india goes to get great lengths to ensure the security of your data. All data is stored on our UK based secured server employing the latest encryption technology. Work2india employees are bound by a non-disclosure agreement that requires complete confidentiality. |
| I understand what you have said so far. But, will I not loose control on my clients if I decide to outsource. |
In contrast, outsourcing will lead you to have better control of your client. Because now you can serve your clients with many more value added services and provide them with timely reports and other financial statements that used to be always delayed. Your relationship bondage with your clients will only get strengthen and firmly woven with high level of services. |
| Will I ever face direct competition from Work2india of loosing my clients to you. |
Never and never. We will have a guaranteed no compete clause in your sign up agreement. By no means, we solicit your clients. Your client is your client, period. |
| Does my client data ever leave USA territory to your offshore location? |
Your data remains in UK and our accountants at offshore office are provided the access through 128 bit encryption by using authenticated ID and password. |
| Can I discontinue your services in between the contract time without any penalty? |
Yes, you can. There is no penalty or charges. We will gladly let your decision take its course. The only thing that we require is to have a 30 days period notice so that our resources deployed with your commitment at the beginning can be put to some other projects. |
| If I decide to discontinue, what will happen to my clients’ data. |
Your clients’ data is yours to keep and we will happily send it over to you either through CD or file transfer through FTP, your choice. |
| What are the benefits for offshore customers in outsourcing their book keeping/accounting work from the right service providers? |
The main advantage is the ‘COST FACTOR’. You will be spending only 1/4 th to 1/5 th of what you spend now on such book keeping/accounting work without sacrificing the quality of the work. Further the work is done by qualified Professionals in the field with longstanding experience and they will be the right kind of Service Providers. Promptness in executing the assignments is assured. Quality of the work done is appreciated as ‘excellent’. The problems relating to ‘staff maintenance’ is totally avoided. |
| How is it possible through the net? |
All you need is a ‘high speed’ scanner to convert the data to ‘digital format’ and store in your computer. Once the data is converted and stored in your computer, create separate files for each ‘type’ of data. For example the ‘Bank Statements’ the ‘Bank Transaction’ reports, the ‘Check Stubs’ can be stored in a ‘Bank’ file. Similarly the ‘Sales Invoices’ (reports) can be stored in a ‘Customer’ file ‘Purchase Invoices’ (reports) can be stored in a ‘Vendor’ file. ‘Credit Card Statements’ can be stored in ‘VISA’ or ‘AMEX’ or such other files. ‘Petty Cash’ report in ‘Petty Cash’ file and so on. Once the data is stored in files, just forward the files to us. |
| How to send the basic data across? |
Just load the data files in your ‘FTP’ Site if you have one and give us the ID and password of your ‘FTP’ Site. We shall down load the data from your site and update your accounts using ‘Quick Books’. Or, you can send the files directly to our E-mail ‘Inbox’ as attachment to your mail addressed to us.Or , you can even store them on a CD and forward it to us through ‘FEDEX’ couriers (or) US Speed Mail. |
| How does our account gets updated? |
It is simple, we feed the data into our ‘Quick Books Desk Top Version’ (or) your ‘Quick Books Online version’. Once the Data is entered we forward the updated ‘Back up’ file to you for restoring it in your computer using Quick Books. If it is ‘Online Version’, you may simply login using your ID and Password and verify your accounts. |
| When should payment be made for the work? |
Payment is accepted only after completion and submission of the work for your approval. Normally the reviewing of the work is completed within 15 days from the date of submission and any corrections that may be suggested by our clients are executed within the next three working days. Then the bill is raised for the work. Once the bill is raised, payment has to be made either by a Master, Visa or PayPal within 5 days from the date of receipt of our invoice. Extended credits are not allowed beyond the aforesaid period. |
| 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 get back to you within 24 hrs normally. We can discuss about the doubt through mailing. Even otherwise we shall be on the support most of the time and you can contact us at anytime when we are ‘online’ or call us at Toll free No: (866)-493-4944. Our Mail Id is info@work2india.com. We also contact you the same way when we have any doubts and need clarifications on any data or information provided by you. |
| What about confidentiality of the client and information furnished by the client? |
We are professionals bound by the regulations of the Institute of Chartered Accountants of India. We do not reveal any information on our clients to any one at any time unless the client specifically wants us to do so. Similarly we assure you that any information or data furnished to us by our client shall not be misused in any way. We do maintain absolute secrecy and confidentiality of our clients which forms part of our professional ethics. |
| How is the tax return preparation done? |
We have a questionnaire, which you will have to fill up. We collect your basic details from your answers to those questions. Then you have to furnish all your income & Expenditure details through your Profit & Loss (or) Income & Expenditure Statements (If carrying on any business/profession) and your W2, 1098, 1099 and other Forms (if any) received from your employers, Investment Corps, IRA etc. Also a copy of your Balance Sheet (If carrying on any business/profession) and the previous year’s tax returns would be required for reference. |
| Do we enter into a formal contract before we start the 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. For Individuals with simple Tax Return preparation assignments such contracts are not required. |
