www.thefoghatbooks.com

FAQs : Outsource Financial Services to India

From our experience, we have found that during the process of finalizing an overseas outsourcing partner, several questions come to the mind of companies deciding to outsource their activities before they finally decide the outsourcing partner.

We have listed below the probable queries and the likely answers to such queries to make your job easier.

What are the benefits of outsourcing accounting and tax preparation services to The FOG Hat Books?

The FOG Hat Books offers various benefits which include increased availability of qualified personnel, secure online access, faster turnaround time and higher customer satisfaction.

But believe us, cost is the most important advantage and by outsourcing the bookkeeping and tax preparation of tax returns to The FOG Hat Books you can save over 60 percent over what it is costs to you now.

Simultaneously, you can reduce your need of increasing staff during year end and peak tax season .Moreover, by capturing and storing all your clients' accounts and tax related information in electronic format, you get advantage of the not only latest technology and ensure improvement of workflow, fasten your tax preparation and finalization of accounts process, but also make your firm paperless.

If The FOG Hat Books's accountants are located offshore, how is it possible to keep them updated on United States tax laws?

The FOG Hat Books’s Chartered Accountants and other accountants are professionals who are specially trained to work as per US tax laws.

They keep themselves updated through ongoing classes conducted live by tax professionals well versed in US tax laws. Also, through the internet, the said professionals are in touch with the changes taking place in he US law.

How long will it take The FOG Hat Books to prepare my clients' accounts and tax returns?

The FOG Hat Books's normal turnaround time is two to three business days. However, if needed, one business day response is available.

How do I communicate with The FOG Hat Books's offshore staff?

The FOG Hat Books has devised an Internet based document management tool that you shall use to store your clients' source documents electronically. This convenient method to use tool also enables you to enter notes and comments about your clients' tax data and accounting information that is important and pertinent to the preparation of accounts and tax return.

The The FOG Hat Books staff will inform you of any important information about the accounts and return using the same tool.

Read more about the process...

What do I tell my clients about who is preparing their accounts and return?

While our accountants will prepare the accounts and tax returns, the role of The FOG Hat Books is transparent to the process from your clients' perspective. It is your firm who will be dealing with the client and accounts preparation and tax planning, shall not be finalized without getting it reviewed and approved from you. Read more about how you can explain this scenario to your client.

Do I have control over client files?

Yes,always you are in control as your firm maintains the original hard copy of your clients' records. Additionally, you can access the electronic files from anywhere on the Internet to see the status of each assigned task.

Once the assigned task is complete, it is securely transmitted to you in a file format compatible with accounting and taxation software being used by you. If necessary, the data can easily be modified online by your staff or your The FOG Hat Books team.

How does The FOG Hat Books ensure and safeguard the security of my clients' personal information?

Client accounting and tax information is electronically shared on 128 bit encrypted secure The FOG Hat Books servers utilizing the latest data encryption technology. The FOG Hat Books servers are located and hosted in the United States and all information is maintained online.

A log entry is automatically generated every time it is accessed. Moreover, The FOG Hat Books accountants are bound by an elaborate non-disclosure agreements that require complete confidentiality. Read more about our Security Policy

After I submit a client's data for processing, what will I get back form The FOG Hat Books?

The FOG Hat Books will create separate electronic files for each type of sourced document. These documents will be kept into electronic folders, properly organized to track the flow of the particular task.

The information on the sourced documents will be keyed into your processing system and after completion, The FOG Hat Books will inform send an email informing you that both sourced documents and electronic data are ready for you to download and review.

How are The FOG Hat Books's services priced?

The FOG Hat Books's accounting and tax preparation services are based on the complexity of the accounts and tax return.

However, what is certain is that the prices are so low and attractive that you shall not be able to resist the temptation of outsourcing your account and tax services to The FOG Hat Books.Would you believe reducing your cost by over 60%.

What are the benefits for offshore customers in outsourcing their taxation and book keeping/accounting work to The FOG Hat Books?

• The prime advantage is the ‘COST FACTOR’. You will be spending not more than 1/4 th to 1/5 th of what you spend now on your book keeping/accounting and taxation related work.
• Further the work is done by Professionals trained to work on software used in USA and Europe in the field with longstanding experience.

read more about Benefits..

When should payment be made for the work done?

We agree to the terms that payment will be made by you only after completion and submission of the work for your approval. In normal circumstances, the review of the work is completed within 15 days from the date of submission and any corrections suggested by our clients are executed within the next two-three working days.

Thereafter, the bill is raised for the work and payment has to be made in agreed mode of payment within 7 days from the date of receipt of our invoice.

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, normally, get back to you within 24 hrs.

You can contact us at anytime by sending a mail at clarification - at -fintaxexperts.com

We also adopt the same procedure when we have any doubts needing clarifications on any data or information provided by you.

Do we enter a formal contract before we start 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.