PRUDENT BOOKKEEPING

We are a boutique Outsourcing firm providing Bookkeeping, Payroll and Tax services. We are a North American firm based out of Ontario in Canada. However, our operations center is located at Ahmedabad in India.

Over the past 7 years of our operations, we have grown to be a team of 35+ Bookkeepers. On an average each Bookkeeper possess 3+ years of experience using Quickbooks, Xero, SAGE and other prominent Bookkeeping softwares.

Our team can handle various accounting packages including Quickbooks, Xero, SAGE, Zoho, Freshbooks, MYOB, Net Suite and many other different softwares. Working on different softwares in not a problem with our team, as they can train themselves with numerous online training material available. We can also work on Custom Accounting Packages built for specific businesses with some initial guidance and training. We also work with various 3rd party apps which can integrate with your accounting packages. Check some of the numerous apps we work with below. Doc Management - Receipt Bank, Hubdoc, LedgerDocs AR/AP - Bill.com, Plooto, Expensify Payroll US - Gusto, ADP, PayChex, Quickbooks Canada - WagePoint, PayWorks, CanPay Real Estate - Buildium, BuilderTrend, AppFolio

We work with multiple small and mid-sized businesses across US, Canada and UK having turnover of $50m ++ and up to 250 employees. We also serve various Bookkeeping / Accounting (CPA) firms located in these countries as an offshore back office. Industry wise we cover a very wide variety of businesses including: Retail, E-Commerce, Consultants, Food & Beverages like Restaurants/Cafes, Fitness centers, Salons, Real Estate, General Contractors, Agents, Property Managers, Landscaping and so on.

Reviews - To ensure PRUDENT’s credibility you can check our 60+ positive reviews on Freelancer where we have worked for over 120 clients. RISK FREE TRIAL - Avail a RISK FREE TRIAL with us to understand our processes flow and check our efficiency before hiring us. No credit card/payment source required. References - You can also be in touch with us and request references, if required.

Detailed description of services we can cover is as below: Bookkeeping -Setting up Bookkeeping/Accounting system and maintaining Bookkeeping/Accounting processes according to any standard operating procedures (SOP) provided by the client. -Regular follow up and collection of data required for Bookkeeping. -Reconciliation of all bank accounts, credit cards, cash books, etc. -Finalization as and when required for tax purposes. Co-ordination with CA/CPA for queries and finalization. -Preparation of regular ‘Management Reports’ e.g. Profit & Loss, Balance Sheet, Aged Payables, Aged Receivables report, etc from time to time. -Preparing other customized reports as and when required. Payroll -Set up new employees in payroll software. -Scheduled pay runs as required for all employees. -Issuance of pay slips. -Assist clients in time sheets and leave management for their employees. -Manage expense claims for employees. Government Dues -Preparing and filing monthly, quarterly or annual government dues e.g. GST, VAT, Sales tax, payroll taxes, PAYG, PAYE, etc. -Co-ordination with CA/CPA for queries and year-end finalization. Accounts Receivable (AR) -Creating and sending out invoices at client’s desired schedule. -Chasing for payments by sending reminders. -Preparation and sending ‘Ageing Receivable Reports’ from time to time as per SOP and client requirements. Accounts Payable (AP) -Setting up payment system to pay the creditors. -Reconciliation and payment to creditors on time after client approval. -Preparation and sending ‘Ageing Payable Reports’ from time to time as per SOP and client requirements. Miscellaneous -Strictly follow SOP guidelines for all work to be undertaken. -Any miscellaneous tasks as mutually agreed and assigned by the client from time to time.

PRUDENT can prepare various type of tax returns and government compliances. Some of those are listed below. FREQUENT (Monthly, Quarterly) YEAR END Corporate & Personal Corporate US – 1040, 1065, 1120, 1120S Softwares - Drake, ProConnect, TurboTax, TaxAct, etc Canada – T1, T2 Softwares - TaxPrep, Turbotax, Profile, etc Misc WSIB (Canada), Payroll taxes (US), T4 (Canada), etc Note: Year End tax returns are not included in regular Pricing Plans available with PRUDENT. Contact us to get a quote for Year End tax returns.

We follow a simple streamlined process for regular day to day Bookkeeping, AR and AP tasks. 1] Bookkeeping Process 2] Accounts Receivable Process 3] Accounts Payables Process

Since we work remotely and do not have access to your printer, our Bookkeepers can keep the checks ready in the Bookkeeping software, which can be printed by someone at your office.

Though we have our own guidelines to make sure we work efficiently, each client is unique and have their own processes already in place or they love doing it a set way. Our Bookkeepers would work according your process (SOP) or if the process is not developed, they would help you develop an efficient process for Bookkeeping, AR, AP and payroll.

We work in team structures and we will assign a dedicated single Point of Contact (POC) to address all your needs. The POC is usually a Team Leader and there could be other members working under him/her. However, the POC is the only person you have to be in contact with for any calls/emails or any issues you are facing.

Certainly, our Bookkeepers can communicate with your clients, vendors, staff, etc if you want them to. For the same purpose they would be using your official email and representing you/your company at all times.

Due to the time difference between North America / Europe and our Indian operations center, working hours of our Bookkeepers are flexible during the day. However, they would be available till 2pm EST (11am PST) on weekdays for any communication (emails or calls) with you. We try to respond promptly, however due to the time difference, least any emails, skype message, voice mails or any other form of communication would usually be responded in 1 business day as a standard.

We try to provide our clients approximately 2-8 hours as per pricing plan selection on a working day. The hours worked on a working day could be higher or lower on the basis of the work load allocated by the client and availability of our resources. However, if enough workload is available from the client, we would provide the minimum guaranteed hours as per Pricing Plan selection to our clients by the end of each month in all conditions. The responsibility to provide enough workload to our Bookkeepers to reach the minimum guaranteed hours would be on our client.

All time worked by our Bookkeepers is tracked using a standard time tracking software like Hubstaff or similar. Our client would be able to review all the time worked during a day with activity levels and screenshots in the time tracking software. We would provide you access for the time tracking software to monitor the Bookkeepers activity and time worked.

The average turnaround time for any work allocated to our Bookkeepers is 1-2 business days depending on pricing plan selection. However, the client should keep in mind average work hours available daily on the basis of its chosen pricing plan for any possible turnaround times fluctuations. Also, priorities should be notified to the Bookkeeper to manage turnaround time well and to avoid any disappointments.

Due to the time difference between our client location and our Indian operations center, it is usually difficult to schedule a call post 2pm EST. However, some Bookkeepers can accommodate such requests. You can be in touch with the Bookkeeper assigned if they can accommodate your request. Please note that such requests cannot be guaranteed.

Most of our Bookkeepers are Quickbooks or Xero certified. However, some of the new team members might not be certified. As a standard all new team members get Quickbooks or Xero certified within 2 months of joining us. Even if the Bookkeeper is not certified yet, on an average each Bookkeeper possess 3+ years of experience using Quickbooks, Xero, SAGE and other prominent Bookkeeping softwares.

At the moment, we can only work with clients whose primary language is English. Also, we cannot work with documents in language other than English.

Sure, if you are not satisfied with our Bookkeeper, you can always request to replace the assigned Bookkeeper. We have a talent pool of 35+ Bookkeepers and we are adding more Bookkeepers every day.

You can hire our Bookkeepers on Part-time or Full-time basis. The pricing depends on the type of work duties you want the Bookkeeper to handle. Pricing plans start as low as $10/hour. Contact us for a quote.

Certainly, you can change (upgrade/downgrade) the pricing plan whenever you want. There is a 30 days advance notice required which would allow us to plan our staff resource allocation for any addition or reduction in work duties to be handled for you. For any Pricing Plan upgrade requests, usually we can accommodate faster at times, as we keep additional resources available for any client urgency. However, for Pricing Plan downgrades, 30 days notice is applicable, as we cannot keep our resources idle, since all our staff members have fixed monthly pay structure.

We issue bi-monthly invoices for all our clients. The invoices are usually issued on 1st and 16th of each month.

US - For US clients we accept bank transfers which can be via ACH or wire transfer. Canada - Canadian clients can pay via Interac e-transfer. UK - UK clients can pay via FPS, BACS or CHAPS payment systems. Credit cards – We can also accept credit card payments; however, they are subject to 3% additional charge which is a standard with most of the payment gateways used for International transactions.

All hours worked above the pricing plan limit during a month would be billed as overtime. The overtime rate would be mentioned in the contract. It is usually 15-20% above the hourly rate in your pricing plan to compensate for the overtime we are required to pay our Bookkeepers.

For short leaves up to 2-5 days, our Bookkeepers would usually try to cover your work volume and monthly required hours during the rest of the month. However, PRUDENT would try to arrange back up resources whenever required to ensure work is not hampered for our clients. In a situation when our Bookkeeper goes on a long leave (above 5 days) or unexpected termination of work contract with us, PRUDENT would provide deduction for such absence in the subsequent invoice raised, on pro rata basis. PRUDENT would notify our clients well in advance in such situations whenever possible.

The TRIAL duration (hours) would be according to your Pricing Plan selection based on the weekly hours you require. E.g., if you require 10 hours per week, the TRIAL would be for 10 hours OR if you require 40 hours per week, the TRIAL would last 40 hours. Though essentially it is a 1 WEEK TRIAL, we allow it to continue for 15 days since usually it takes some time for our clients to set up systems and processes to hand over TRIAL work to our Bookkeepers. The TRIAL would end, if allocated TRIAL hours are exhausted or at the end of 15 days, whichever is earlier.

We call our TRIAL – RISK FREE since we do not require any credit card / payment source to start the TRIAL with us. Also, if you do not like our services during the TRIAL, you are free to cancel the service anytime during the TRIAL without any notice and obligation. However, if you like our services and wish to continue with us post completion of the RISK FREE TRIAL, the billing period would commence from the start date of your TRIAL.

Yes, we would be sending you a TRIAL completion notice and seeking your permission to continue using our services. If you opt to continue using our services, the billing period would be applicable from the start date of your TRIAL (if any).

A contract is needed as it outlines various terms and conditions for the TRIAL, services covered, confidentiality (NDA), work processes, etc and also to smoothly continue using our services post Trial.

We need a contract in place between your company and PRUDENT to start using our services or to avail the RISK FREE TRIAL. Be in touch with one of our Sales representatives using the Contact Us form or email us on admin@prudentbookkeeping.com to help you with the process.

We follow a very simple and streamlined process for our clients to get started with us.

You can download sample contract with the below links. Direct clients (Any business entity except Accounting/Bookkeeping firms) Accounting/Bookkeeping firms

Security of sensitive client information is our top priority to maintain financial integrity. We have the below arrangement in place to ensure the same. NDA Contracts - 2 ways both with Clients and Staff Secure File transfers via VPN or Google Drive/DropBox with view only access Secure Password Management using LastPass app Registered in North America to ensure we comply with American Laws. Non-Circumvention clause in contracts

In short, Outsourcing means using a third party to handle a business process like bookkeeping, payroll, data entry, AR, AP, essentially any office-based business tasks.

Apart from Cost Savings and Improving Efficiency, Outsourcing can help a small and mid sized business in numerous other ways too. Save Cost up to 60% Average Bookkeeper salary $50000 with 1-3 years experience (source: PayScale, Salary.com) No investment in office space or equipment No paid time offs Save on Recruitment costs Recruitment Hassles No need to hire recruitment agency or post ads Always Backed Up - Work never stops when a Bookkeeper goes on leave Never Hire Again - Get Replacement Bookkeeper instantly if a Bookkeeper leaves Improve Efficiency and Quality Qualified Bookkeepers with 3-5+ years experience Dedicated point of contact Operations managed by CPAs Combined experience of a team Work is supervised

You can send a simple cancellation request on admin@prudentbookkeeping.com from your official domain registered email or any email listed in the contract for official communication. You can also send the cancellation request to any sales executive in charge of your account.