Frequently asked Questions
What is your staff strength and experience?
What softwares and apps can your team handle?
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
- US - Gusto, ADP, PayChex, Quickbooks
- Canada - WagePoint, PayWorks, CanPay
- Real Estate - Buildium, BuilderTrend, AppFolio
Where are you located?
What type of clients do you serve?
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.
How do i make sure PRUDENT is the right choice for me?
- 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.
What type of services do you provide?
-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.
-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.
-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.
-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.
What type of tax work can PRUDENT perform?
- FREQUENT (Monthly, Quarterly)
- Sales Tax (US), GST/HST/PST/QST (Canada), VAT (UK)
- YEAR END
- Corporate & Personal
- US – 1040, 1065, 1120, 1120S
- Softwares - Drake, ProConnect, TurboTax, TaxAct, etc
- Canada – T1, T2
- Softwares - TaxPrep, Turbotax, Profile, etc
- US – 1040, 1065, 1120, 1120S
- Corporate & Personal
- WSIB (Canada), Payroll taxes (US), T4 (Canada), etc
What is the process you follow for Bookkeeping, AR and AP?
We follow a simple streamlined process for regular day to day Bookkeeping, AR and AP tasks.
Can your Bookkeeper print checks for our vendors or payroll payments?
Will you follow your own set processes or work according to our Standard Operating Procedures (SOP)?
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.
Will the Bookkeeper assigned to us work exclusively for us?
Can the Bookkeeper communicate directly with my clients/vendors?
What are the work timings of your Bookkeepers?
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.
How many hours the Bookkeeper would work on a given day?
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.
How do i track the time your bookkeeper is working for me?
We would provide you access for the time tracking software to monitor the Bookkeepers activity and time worked.
What is the average turnaround time for any work allocated?
Can the Bookkeepers be available for a call after 2pm EST?
Are all your bookkeepers certified?
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.
Can your Bookkeepers speak Spanish or French and work with documents in those language?
Can i change the Bookkeeper?
What is the Process once we sign up for your services?
What steps does PRUDENT take to secure Financial/Non-Financial data for its clients?
- 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
Where can I view the sample contract which you sign with your clients?
Direct clients (Any business entity except Accounting/Bookkeeping firms)
What is Outsourcing?
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.
WHY OUTSOURCE as compared to hiring IN-HOUSE staff?
Save Cost up to 60%
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
What is the process to terminate the contract with PRUDENT?
You can send a simple cancellation request on firstname.lastname@example.org 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.
How do I SIGN UP for your services?
Be in touch with one of our Sales representatives using the Contact Us form or email us on email@example.com to help you with the process.
What are the current Pricing Plans available?
Can i change the Pricing Plan?
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.
When will i be invoiced?
How can i pay for your services?
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.
What if i require the Bookkeeper allocated to work more hours than the Pricing Plan i have selected?
What if your Bookkeeper goes on leave?
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.
What is the duration of the RISK FREE TRIAL?
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.
Why do you call it a RISK FREE TRIAL? Do I need to Pay for the RISK FREE TRIAL?
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.