ibn-tech

[ibn-tech]

Hiring a Bookkeeping Service

Recruiting a bookkeeping administration is about something beyond discovering somebody who can utilize an adding machine and comprehend QuickBooks. You need an undeniable group that has the expert foundation, preparing and experience to truly profit your business. Individuals whose ability you can depend on. In a perfect world, you need to zero in on the individuals who have QuickBooks Pro Advisors affirmation, extra expert certificates in explicit accounting programming or and those that utilize AIPB Certified clerks.

 Perhaps the least demanding approaches to get an accomplished, confirmed, proficient bookkeeping administration is to utilize a virtual accounting specialist organization. Indeed, you can recruit a whole bookkeeping staff—including an accounting programming trained professional, full-charge clerk and regulator—all through a virtual assistance without making an inside division. Furthermore, subsequent to using their administrations, you may simply find that your organization couldn't bear not to have their skill.

 It doesn't make any difference where your organization is found, a virtual bookkeeping staff can give you every one of the benefits you need to remain open and beneficial for a long time to come.

  You give your business such a great amount to develop and succeed. You give it your time, aptitude and thoughts, you market your items and administrations and recruit qualified workers, you configuration advantage bundles, look after protection, and have a committed space. Presently it's an ideal opportunity to take your business to a higher even out and guarantee its future accomplishment by setting up an accounting group. Permit them to give you the benefit of expanded productivity of your business pay and costs while considering your representatives responsible and limiting openness to different monetary and review hazards. On the off chance that you care about the fate of your organization, enlist a virtual bookkeeping administration today.

For more information visit :-

https://www.ibntech.com/

[ibn-tech]

Need of Outsourcing Bookkeeping services for small businesses

Bookkeeping services when outsourced leaves you with immense time on your hands which means you will have more creative stamina left to cater to your customers.

 Bookkeeping Outsource Makes you Richer: This means you will be doing better than what you were doing last quarter. Which means you will be able to instantly mark a difference in the balance sheet. Yes the Profit will reflect a higher number. And IBN’s vigilant and comprehensive advisory board of Bookkeeping services will guide you towards corrective business decisions that will enhance long term performance of the company.

 More Free Time: Bookkeeping outsourcing to IBN Technologies Limited will leave you with free time as their team of experts will not leave any chapter of Bookkeeping service unturned.

 Peace of Mind: IBN’s special flash reporting instantly notifies the business owner about any malicious activity happening in their books of accounts. What this really means is it leaves business owners no scope what so ever to worry about the operations of their business. As all fraudulent transactions related to Bookkeeping services will be instantly reported.

 Keeps you on track: Many business owners decide in the beginning of the New Year that they will be spending an “x” amount only. However by outsourcing their Bookkeeping services to IBN’s experienced team means they will have to stay on track and spend only what was budgeted? And who wants that?

 Accurate: IBN’s Bookkeeping services are ridiculously accurate. Which means your bank reconciliation statements will tally exactly with your accounting books. Quality and timely service makes IBN and industry leader for SME’s.

 While CEO’s often are seen tensed and busy, outsourcing Bookkeeping services to IBN’s expert team will make them look happier more relaxed and more focused on attending the core competence of their business. Bookkeeping services outsourced to the right partner has been the mantra of success for many companies over decades. And obviously you don’t want that.

[ibn-tech]

How CFO Services Can Enhance the Financial Health of Startups

Many startups keep away from bringing on a CFO due to the fact they don’t understand they want one, whilst a few different commercial enterprise proprietors think CFOs are best for massive mega-companies. But startups can develop quicker in the event that they have a person who is aware of their economic dreams and might assist map out a plan to gain them. A CFO can play a essential position in strategic decision-making to assist startups put together for the destiny and optimize their strategies.

Entrepreneurs who need the safety of a CFO’s recommendation however don’t need to lease a person full-time can advantage from the use of an outsourced CFO. Outsourcing CFO offerings may have many advantages, from enhancing economic balance to enforcing techniques and bringing credibility to the startup. Businesses can revel in sturdy economic fitness through utilizing CFO offerings and expertise. These experts can assist startups create forecasts, assignment earnings and plan out destiny progress.

The advantages that an outsourced CFO can carry to small- and medium-sized organizations are critical to increase. Generally, a CFO can run the complete finance branch of a agency. But with out earlier information of a CFO’s position and responsibilities, it is probably hard for startup founders to recognize how outsourcing CFO offerings can assist them develop. Therefore, we’ve indexed all of the advantages of outsourcing CFO offerings that may assist marketers decorate the economic fitness in their startups.

Report Analysis

The greater statistics-pushed your startup is, the much more likely it's far that you may foresee possibilities and count on mistakes in advance. A CFO can evaluation a agency’s statistics to decide its operational efficiency. They can use that statistics that will help you pressure commercial enterprise increase and enhance productivity. Startups want CFOs’ guidance, specifically in the event that they’re getting traders, and that they want a person to research the statistics to make operational improvements.

Hiring a full-time CFO usually comes at a totally excessive price. Therefore, outsourcing CFO offerings may be a financially possible choice for startups seeking out professional guidance. An outsourced CFO can offer you with in-intensity economic evaluation and reporting, including value-advantage evaluation and profitability evaluation. A CFO offerings organization also can interpret your economic statistics frequently and assist you pick out your agency’s key metrics so that you’ll be capable of decide a reporting agenda for ongoing tracking.

Fulfill Audit Requirements

Outsourcing CFO offerings can offer a commercial enterprise with sturdy advantages in case an investor calls for an audit of a startup from a 3rd party. Since the CFO isn't operating on the agency on a every day basis, traders have greater self assurance that the reviews are unbiased. Outsourcing is likewise useful due to the fact an outsourced CFO doesn’t have an emotional reference to personnel participants or specific departments.

Create Custom Reports

An outsourced CFO can offer you with a economic file each month. They also can put together custom reviews, earnings and loss statements, coins glide statements and stability sheets. The reviews display industry-precise key overall performance indicators (KPIs) and benchmarks in an smooth to recognize manner. A CFO also can assist you gain and degree your dreams.

Forge New Relationships

A CFO is a incredibly skilled expert who cannot best correctly control your commercial enterprise’ price range however also can be the economic spokesperson of your agency. CFOs can construct new investor and client relationships, set up middle economic strategies and reporting requirements, and create a course to increase on your startup.

Outsourcing CFO offerings can ease the manner of interactions with outside traders, bankers, board participants and different stakeholders. Further, you could additionally advantage from the outsourced CFO’s network, in addition to gaining a widespread information in their quality practices throughout sectors.

Tax Planning and Compliance Adherence

CFOs are relied on advisors who can assist startups preserve compliance with the present day tax guidelines and regulations. Outsourcing CFO offerings allow you to make sure compliance with authorities rules on your commercial enterprise all through each transaction and investment spherical and might manual you all through tax making plans intervals.

Build a Scalable Infrastructure

A CFO can assist a startup construct a quickly-evolving surroundings on the way to assist the commercial enterprise because it grows. Outsourcing CFO offerings allow you to create a scalable economic machine from charge processing and payroll to value evaluation projections.

Generate Data-Driven Insights

A CFO can oversee statistics series including accounting, customer conduct and lots greater to generate the statistics-pushed insights that startups want for making knowledgeable choices. They pick out which commercial enterprise sports can pressure adjustments, including stock turnover and income, to pick out actionable insights.

With outsourced CFO offerings, you could make sure and verify the excellent of the economic and operational statistics drawn from diverse sources. Maintaining statistics excellent allow you to outline a statistics evaluation-primarily based totally approach on your go-to-marketplace plans.

Manage Fundraising Processes

Taking too lengthy to outsource CFO offerings will now no longer depart you sufficient time to recognize your commercial enterprise earlier than fundraising or IPO (preliminary public offering) pastime begins. A CFO who has precise relationships with traders can play a critical position in elevating budget on your commercial enterprise. They are worried in getting ready and pitching economic projections to ability traders and convincing them of the reliability of those projections. That approach in case you are increasing into new geographies, merchandise or offerings, your CFO allow you to set up new connections.

Financial Planning

When a startup makes a decision to move public or to merge with any other organization, the CFO can increase and put in force techniques to cope with difficult economic intervals and surprising increase to make sure a clean transition. An outsourced CFO can assist a startup carry out the subsequent economic making plans features:

• Finding strategies to attain startup investment

• Setting agency dreams

• Conducting marketplace studies and evaluation

• Drafting a income and advertising and marketing plan

• Setting up an accounting and economic control machine

[ibn-tech]

Reasonable Bookkeeping and Accounting Services in USA

Nowadays, it doesn't make any difference where you will be, you can undoubtedly discover a bookkeeping administration on account of the great cloud innovation. There are frameworks that solitary work in the USA. Bookkeeping is a fundamental piece of your business as it sorts out how you work in general.

  Here are the 10 solid spots you can discover accessible in the USA:

 •           ACCOUNTING DEPARTMENT

 They have been occupied with Bookkeeping for over 11 years of administration. This specific organization has been known deal with your books and documents with their first rate framework. There are just various organization which offers a bookkeeping office, and this is one of them. It very well might be a lot for independent ventures, yet this is certainly something to return to.

 •           IGNITE SPOT

 This organization ensures that you are at comfort at they can save entrepreneurs up to 230 every year. That, yet the can likewise build the benefits by at any rate 10%!

 •           GROWTH FORCE

 In the event that you need a specific organization that will zero in on a specific region for you, at that point Growth Force has it down. On the off chance that you need them to practice just on your bookkeeping office, they'll have the option to do the work with no issue. You're in charge, you have alternatives.

 •           EXPERTISE

 They have everything. This organization offers an assortment of branches wherein you can pick explicitly on what you need. Their administration goes from information passage to inside examining and significantly more.

 •           ANALYTIX SOLUTIONS

 You can work with a CPA legal counselor, lawyer, and investor so your anxiety could be replied by experts. Their offers incorporate Bookkeeping, Controller Services, CFO administrations, Accounting frameworks and Integration, and finally, Payroll preparing.

 •           VIRTUAL BOOKKEEPING SERVICES

 They can cater any worries that spins around mechanical bookkeeping, they extend to incredible assets to do the employment opportunity. In any case, their administration do exclude planning and monetary arranging.

 •           BALANCEYOURBOOKS

 They need to significant jobs where their organization centers: Bookkeeping, and Controllership. They can offer you bookkeeping, and surprisingly monetary arranging administrations. Their administration expertise is a-list. In addition, they likewise offer modified monetary revealing.

 •           TAD ACCOUNTING

 They've been in the business for over 18 years. Throughout the long term, they have created various stages. They fundamentally have all that you require and need in a bookkeeping and bookkeeping administration. On the off chance that you need to keep the cost negligible, utilize their essential program.

 •           BOOKS2TAXES

 As what the name proposes, they're a professional with regards to offering you guidance on charge readiness. Assuming that is your lone concern, this is the ideal spot to go to. In spite of the fact that you need to recruit a bookkeeper to assist you with the rest.

  •           REMOTE BOOKS ONLINE

 This solitary offers bookkeeping administrations and that's it. It's immediate direct, and it takes care of business. In the event that you as of now have a bookkeeper, go ahead and utilize this site.

[ibn-tech]

5 Mistakes Small Businesses Make When Hiring a Virtual Bookkeeper

As you sow, so will you harvest!!

 An old axiom however acquires a ton of importance in the subject what we are going on.

 The more cleverly you recruit a virtual bookkeeper, the more productively you get your profits over the long haul. You can't bear the cost of turning out badly when you embrace the way toward recruiting a virtual bookkeeper for independent venture as it is an interesting decision and will choose the adequacy of dealing with your books.

 We should attempt not submitting the accompanying errors while employing a virtual bookkeeper for independent venture:

 1. Not knowing everything:

 Employing a virtual bookkeeper for independent company can be a significant assignment on the off chance that you don't be set up with the plan of work. For e.g.; what are the fields where you would need support from the virtual bookkeeper, for how long would you need him/her and so forth

 Planning a set of working responsibilities can be a reasonable thought with the goal that you track down your correct fit. It may remove altogether too quite a bit of your time, however have confidence; it's all great!!

  2. Being hurried:

 In some cases, individuals will in general be in a rush during employing a virtual bookkeeper for private company. The reasons can be various; they may think this errand of recruiting a virtual bookkeeper as an immaterial and unimportant undertaking, additionally the firm probably won't have the perfect individual who could pass judgment and recruit a legitimate bookkeeper profile.

 What are the botches that may happen on the off chance that you are excessively hasty during recruiting a virtual bookkeeper for private venture?

 •        You may pass up talking about or dealing the each hour rate that he/she will charge? Vital point!!!

 •        Also you may pass up adjusting whether all provisions would be from the bookkeeper's end.

 •        How solid is his/her instructive foundation? Does he/she hold an affirmation from a perceived college?

 •        Adding to this, you should always remember to enquire that if you be relegated a task supervisor for smooth capacities and activities.

 By the by, employing a virtual bookkeeper for private company must be taken as a persistent and cautious strategy.

  3. Not guaranteeing the labor angle:

 While recruiting a virtual bookkeeper for independent company, one should ensure that the bookkeeper he is employing will convey start to finish accounting exercises and not restricting to a couple. It should not occur that down the line, the entrepreneur needs to take the agony of recruiting extra accounting staff to play out the leftover accounting undertakings. This may at last prompt a costly circumstance and may likewise wind up reflecting misfortunes in the organization's last asset report.

 4. Not Timing it:

 On the off chance that you are recruiting a virtual bookkeeper for independent company, and he/she turns out to be from an alternate country, you need to verify that the time distinction or time region isn't excessively colossal from yours. This will make your work significantly harder and tiring. You will discover trouble in coordination and accepting the reports and assignments from the virtual bookkeeper; subsequently your venture may go to no end.

 5. Being guileless about the security factor:

 The entrepreneur during recruiting a virtual bookkeeper for independent venture should see that all the information of the association is put away in a free from any and all harm way by the virtual bookkeeper. It is far better if the virtual bookkeeper has solid developed of programming's to shield the information of its customers. In the event that the virtual bookkeeper doesn't meet this models, it is prudent to not to go for the collusion.

[ibn-tech]

Accounts Receivable Process

Accounts receivable outsourcing is a process that allows small businesses to sell their accounts receivables and other invoices to an external financing company. The financing company gets the invoices at a reduced price and when the due date arrives, it collects cash from your customers at the price stated on the invoice. The financing company can choose to collect the money by itself or seek the services of a money collection service. That way, it is able to make money from the purchased invoices. There are many Accounts Receivable Outsourcing Services in USA that have helped many small business to stay afloat by availing funds owed in a shorter period of time. As a result, the smaller business gets ready money to restock or run its activities.

There are several activities associated with Accounts Receivables, which are offered by IBN as follows:

o    When an Invoice is raised, it is to be emailed/ posted to the Customer.

o    At the month end, a Statement of Account is sent to the Customer.

o    If payment is not received within agreed time frame, Customer needs to be chased by email/ calls.

o    On demand, copies of Invoices are sent to the Customer

o    If payment is not received after follow-up, a Legal Reminder is to be sent.

If Customer does not respond to Reminder, a Legal Notice is sent asking to pay the amount due along with Late Payment Charges and Legal Fees.

[ibn-tech]

Accounts Payable Process

It takes plenty of time and labours to examine invoices for errors. Many organizations are using Accounts payable outsourcing companies, and they find that they save up to 60 % on the price of labour alone. Additionally, they save money associated with mistakes on invoices. This takes up an excessive amount of time that could be spent on improving the company and usually increasing earnings. IBN has innovative technology to catch errors and correct them while still saving customer’s money. As the market shifts closer to using online technologies, the business must adapt and renovate its offerings to competitors. The benefits of hiring an accounts payable outsourcing company will save your money and time. More and more companies are selecting to utilize accounts payable outsourcing firm for accounts payable services. IBN gives accounts payable processing services to provide clients with outstanding care so they can save time and money and spend greater time on what matters most –Core Business Value.

[ibn-tech]

Accounts Payable and Receivable Outsourcing Services.

IBN provides Purchase to Pay Services (P2P), Order to Cash service (O2C) and Record to Report (R2R) Services as consistent with client’s requirements clearly defined on the time of agreements and with well described SLAs in place. AP & AR are most important and critical processes in every industry. When it comes to buying goods and services, businesses face huge, expenses and flawed Accounts Payable services processes, so the improvements there may end in a massive impact on an organization. IBN’s mission is to help organizations to run their business approach efficiently and more profitably with their AP & AR Functions. IBN broad experience and mastery is voice services will satisfy all your call center prerequisites. It helps you to accomplish the most extreme outcomes.

[ibn-tech]

Services  provided by Accounts Payable outsourcing companies

Services provided by Accounts Payable outsourcing companies:

1) P2P (Purchase to Pay): This is an automated system that covers the process from buying the product and services to pay for the product and services. services provided like

·         Create Requisition

·         Create PO

·         PO authorization

·         Sending authorized PO to the requester

·         Receipt of Invoice

·         Invoice approval

·         Posting of Invoices in the accounting system

·         Pay the invoices

2) Payment Process: Is about an automated payment to the supplier.

3) Handling Supplier calls: There are 2 types of handling the call Inbound and Outbound. The Inbound call is about a customer calling the business and Outbound is about when a business call the customer if they have any requirement.

4) Supplier Reconciliation: Suppliers statements are reconciled with the Accounts Payable ledgers as same as bank balances are reconciled with the cash accounts.

[ibn-tech]

Qualities to Look for while hiring a Business Accountant

We all know that finding a business accountant for your start-up company plays a crucial role as it will determine the end-result of your business. One single number wrong, and it messes up the entire calculation of your company leading it to become a hindrance of any progress.

CareerBuilder conducted a study in 2014 to see if there’s any significant difference between “soft skills” and “hard skills”. To simply put it, hard skills are usually what clients look for – it’s what’s written on paper. Resumes may play an important factor when choosing a candidate, but it doesn’t stand alone.

In the research conducted, they were able to find out that soft skills are as important as hard skills. In fact, 16% of the interviewees said that soft skills are more important. Unlike hard skills that can be taught, soft skills are based on character.

Here are things you need to keep an eye on:

 1.      Technologically advanced.

 Accountants know that the basic fundamental is having a solid grasp on GAAP; however, that’s not enough. Times are changing, and a good accountant would take the time to attend seminars, conferences, and refreshers to be up-to-date with any changes of tax laws and the likes.

 2.      Excellent Organizational Skills.

 It’s a fact that their work requires hours of crunching numbers, and papers on their desk are heavily piled up. A good accountant would keep everything in place, have a solid schedule, and an organized desk. This in return would save the company from any blunders.

 3.      Keen Eye for Details.

 Accuracy is a must. Any lost numbers could possibly cause the company millions. Meticulousness should be a second-nature to an effective accountant.

4.      Responsible.

 He should take responsibility of any end-result – whether they may be good or bad. Mistakes are to be expected, but taking responsibility means growing from those mistakes, and accepting it as his own.

 5.      Considerate.

 It’s definitely a huge bonus points for an accountant to get out of their way and understand what the client’s business objective is. An accountant’s advice on finances would definitely boost sales and revenues.

 6.      Team player.

 He should be open to sharing his knowledge to his teammates in order for the company to grow. It’s a must for him to attend meetings with clients and give his suggestion for business growth.

 7.      Flexibility.

 He should be level-headed at all times. There are always unforeseen circumstances, and it takes a calm accountant to analyze a way to resolve the issue without raising commotion.

 8.      Positive Outlook.

 Hiring for Attitude, a book written by Mark Murphy, stated that the reason why companies fire employees is not because they aren’t skilled enough, but it’s because they have a different objective that doesn’t sit well with the company.

 9.      Communication.

 In order to avoid problems – like the one above – the key measurement is communication. A good accountant must be open to his client on his views so both parties could meet eye-to-eye, avoiding unwanted trouble. And lastly,

 10.    Principled.

 There’s no other better person to be part of your company than a man who is honorable and righteous. If you’ve got this down, your company is sure to climb sharply.

 For more information visit:- https://www.ibntech.com/

[ibn-tech]

10 Signs You Should Invest in Bookkeeping and Accounting Services

Let’s face it. Bookkeeping definitely leans towards as insignificant and is considered as a menial task, and that’s almost always the case with every Start-up Company or small business. We both know you aren’t doing business just so you could spend half of your day crunching in numbers, thinking about your statements.

You’re supposed to be creating plans, negotiating deals, and drawing the bigger picture of your company – not giving a self-inflicted headache. It has been proven that when a company starts asking for accounting advice, the company’s efficiency skyrockets!

Investing your company to a professional bookkeeper or to a good accounting service could lead your business to start getting even more profits. It may take hours for you to finish balancing your sheets, but it would only take minutes for an effective service to realize the numbers at hand.

By doing this method, you’re able to save yourself from unnecessary headaches, and keep your company updated to any change of tax laws, thus, preventing your business from paying penalties in the future.

Here are the 10 signs you ought to be aware of:

 1.      You’re not using your company’s true potential.

 There’s a huge difference between when a novice does it and when a professional keeps your books. No matter how hard you try, you can’t keep up the demand of work that you’re juggling from left to right.

Once you’ve asked help from a new pair of hands, you’ll see the drastic changes in your company. Plus, you’ll be amazed on how much you would have already saved if you got a bookkeeper from the start.

 2.      Your time is being divided.

 Follow the fundamental rule of any businessperson: Law of Leverage. You’re not exactly doing it right if you are doing a one-man-show.

 3.      Failure to record everything.

 You don’t have the luxury of recording every last penny that you spent on your company – you can’t even get a decent coffee break! Leave it to someone else.

 4.      No unexpected fees.

 It’s your bookkeeper’s job to keep up with the times. You don’t have to attend seminars and training for updates of legal laws.

 5.      Paying more to an accountant.

 There’s a chance you’re spending a lot of money on an accountant, whereas if you hire a bookkeeper, they’re economical and will save you money.

 6.      Automate your task.

 Thanks to cloud technology, a modern bookkeeper could easily be acquainted on the latest accounting technology released. It’s faster to automate, and no manual labour.

 7.      Saves you trouble.

 Even when it’s not your intention, but when there are inaccurate files of your legal finances, you have to pay a certain penalty to keep you out. But with a bookkeeper, all of these could be avoided.

 8.      Boosts Company’s growth.

Bookkeepers are professionals in finances. They know the needed course of action to take for a healthy standing on your company’s financials.

 9.      Managing your payables and receivables.

There are bookkeeping services that keeps a record on the clients who owes you money, and to the people you owe money to. They have a detailed record on when’s it due to let you prepare your finances.

 10.   Save on tax.

 You can’t keep up with everything – but a bookkeeper can. They’re able to manage on tax deductions properly without a cinch.

[ibn-tech]

Qualities To Look For while hiring a Business Accountant

1.      Technologically advanced.

 Accountants know that the basic fundamental is having a solid grasp on GAAP; however, that’s not enough. Times are changing, and a good accountant would take the time to attend seminars, conferences, and refreshers to be up-to-date with any changes of tax laws and the likes.

 2.      Excellent Organizational Skills.

 It’s a fact that their work requires hours of crunching numbers, and papers on their desk are heavily piled up. A good accountant would keep everything in place, have a solid schedule, and an organized desk. This in return would save the company from any blunders.

 3.      Keen Eye for Details.

 Accuracy is a must. Any lost numbers could possibly cause the company millions. Meticulousness should be a second-nature to an effective accountant.

4.      Responsible.

 He should take responsibility of any end-result – whether they may be good or bad. Mistakes are to be expected, but taking responsibility means growing from those mistakes, and accepting it as his own.

 5.      Considerate.

 It’s definitely a huge bonus points for an accountant to get out of their way and understand what the client’s business objective is. An accountant’s advice on finances would definitely boost sales and revenues.

 6.      Team player.

 He should be open to sharing his knowledge to his teammates in order for the company to grow. It’s a must for him to attend meetings with clients and give his suggestion for business growth.

 7.      Flexibility.

 He should be level-headed at all times. There are always unforeseen circumstances, and it takes a calm accountant to analyze a way to resolve the issue without raising commotion.

 8.      Positive Outlook.

 Hiring for Attitude, a book written by Mark Murphy, stated that the reason why companies fire employees is not because they aren’t skilled enough, but it’s because they have a different objective that doesn’t sit well with the company.

 9.      Communication.

 In order to avoid problems – like the one above – the key measurement is communication. A good accountant must be open to his client on his views so both parties could meet eye-to-eye, avoiding unwanted trouble. And lastly,

 10.   Principled.

 There’s no other better person to be part of your company than a man who is honorable and righteous. If you’ve got this down, your company is sure to climb sharply.

[ibn-tech]

IBN is leading organization leveraging finance and accounting services outsourcing as a strategy to change their operating models, which help them realize their business core competence addressing the multiple verticals of process. IBN Technologies Limited offers industry recognised finance & accounting services outsourcing solutions that support end-to-end functions of accounting.