FAQs:

1. What are the benefits of keeping my books up to date?

What are the benefits of keeping my books up to date?

Without proper records, it is possible to end up paying the wrong amount of Tax – either not enough, which can incur penalties, or too much, which would cost you more money. Good record keeping also provides clear understanding of your financial position and profitability.

 

2. (a) What is outsourcing?

“Outsourcing" previously simply referred to the use of third party service providers to assist in the delivery of services such as payroll, human resources and information technology. Today, with the technology that exists, the opportunity to outsource more and more functions of your organisation is available. These services now include accounting and finance.

(b) Why outsource?

If you are like most small or mid-size businesses, you take great satisfaction in the products and/or services your business offers. At Commercial Excellence, we believe that your accounting and finance department should be outsourced. This provides you access to the vast experience and skilled resources of our highly proficient and professional services team, allowing you more valuable time to focus on your business strategy and goals, whilst simultaneously reducing your business costs. By outsourcing your accounting and finance department to Commercial Excellence you will gain the expertise level that most small to mid-size companies do not have, at a fraction of the cost of hiring people with the same skill set.

(c) What functions can be outsourced?

Our solutions are streamlined to meet each client's needs. We can provide an entire accounting department, or additional resources to supplement your existing internal staff.

3. Will I be losing control of my accounting information?

No. Since your tailored accounting solution includes all the built-in, internal controls and procedures found in world-class accounting departments - your accounting information and data will be better controlled and managed than it is currently. In addition, regardless of where the data processing is physically being performed, your data and management reports will soon be accessible to you via remote access. And, chances are, our state-of-the-art data center is considerably more secure and reliable than your existing LAN and servers.

4. Will you need to work from our business premises?

As a virtual business, Commercial Excellence uses the power of the Internet to provide our clients with an online bookkeeping solution and can perform all our services without having to be onsite. On-site consultation can be provided if required.

5. What Documents will I need to provide you with?

This all depends on the service that you will require i.e. timesheets, employee records etc. for payroll services.

All source documents will be required for the bookkeeping services i.e. invoices received/issued, cash receipts, bank statements etc.

6. How do I get the necessary information to you?

This can be either sent by email, fax or post. We also have overnight bags with a major courier company that can securely transport your information to us and back to you.

7. How safe is my data?

Precautions include data encryption techniques, non-disclosure agreements, and restricted access to personal information (e.g. no ability to download, print, scan, or copy client financial data). We have measures in place ensuring that our third party service providers have taken the necessary precautions to secure your data.

8. Who controls the money and makes the decisions?

You have 100% control of all monies and the decisions on how they are used or invested.

You decide what individuals and which vendors are paid. We provide the data, but you approve all invoices for payment and sign all cheques.

9. How can Commercial Excellence do better work for less money?

Accounting is our only business. We're more efficient than most internal accounting departments, because –
• We assign duties to those best suited to accomplish them. We delegate tasks according to qualification and expertise, so that staff are handling matters appropriate to their skill levels.
• We have solid internal controls, with appropriate separation of duties to ensure accurate and timely processing of transactions.
• Our staff relies on systems and documented processes rather than individual knowledge,  making CE far less vulnerable to employee turnover than traditional solutions.

10. Do you sign non-disclosure agreements?

Yes, all employees handling your account, will sign non-disclosure non-compete agreements, with specific reference to your account.

 

Call us now for a free consultation about the package that’s right for you