FINANCE AND ACCOUNTING OUTSOURCING SERVICES
Focus on Business Strategies and Address Challenges Pertaining to Finance and Accounting
It’s decision time. And you’re still not sure what to do. Why? Because you don’t have enough information to go on. Yes, you’ve got the P&L, but it’s not updated. You’ve got inventory projections, but you don’t know how accurate they are. You’re not sure if you can trust the latest accounts receivable report or the performance of the accounting services data from your various locations.
To top it all off, you haven’t got anyone who can help you interpret this financial reporting data – let alone benchmark it against other companies like yours. There are just too many missing pieces. QBSS is a professional outsourced finance and accounting functions consulting firm that can help you stay on top of the numbers game. We bring to you the right mix of an outsourced accounting team, financial and accounting professionals, financial planning expertise, and industry best practices to support your business strategy.
We offer the financial reporting you need to grow your business while freeing up your time and resources to manage your core business better. Outsourcing your finance and accounting functions to a trusted advisor like QBSS will help:
- Make your financial reporting and planning and accounting functions more efficient
- Improve your working capital management, streamline accounting processes and payroll processes and enable customized management reporting
- Generate insightful and actionable financial reports through outsourced accounting services
- Mitigate risks of financial leakages, fraud, and non-compliance with GAAP accounting guidelines
- Create an agile finance and accounting function tailored for growth
- Access to real-time information that improves accounting processes and financial reporting
- Access to cost-effective technology to ensure compliance with key performance indicators
Your business strategy and goals will determine the scope of outsourced accounting services. If you are new to outsourced accounting, we recommend you start small and then expand as you become more comfortable with the concept of outsourcing accounting services. If you have leveraged outsourced accounting before, we think you will find we are a different sort of consulting firm than you may have worked with in the past. Contact us us for a free consultation to assess outsourced accounting services.
Our Current Offerings
Our comprehensive Finance and Accounting functions helps you have better financial planning and control through sharper insights and streamlined processes for payroll services, the accounting department, bookkeeping services, healthy cash flow and cash basis accounting, tax services, maintaining accurate documentation and financial reports, and more to drive long-term growth.
Our services improve the financial Reporting and accounting systems process. This, in turn, ensures on-time delivery of accurate financial statements and streamlined bookkeeping services and payroll processes, thereby strengthening compliance with GAAP accounting norms.
Our services improve the Record to Report process. This, in turn, supports timely and accurate tax filing and tax preparation, provides access to strategic and cost-effective accounting services, enables continuous monitoring of key performance indicators and strengthens compliance with GAAP accounting norms.
- Profit and Loss Statements
- Balance Sheet
- Cash Flow Statement
- General Ledger
- Bank Account and GL Reconciliations
- Cash and Credit Card Deposit Verifications
- Inter-Company Accounting
- Fixed Asset Account Management
- Inventory Accounting
- Corporate Consolidation Reporting
- GAAP Accounting Compliance Reporting
For more details
Click HereQBSS’s Procure to Pay services is a cost-effective way to ensure companies are able to efficiently optimize their working capital. Consequently, accounting processes are streamlined and smart cash flow management ensured. Our outsourced accounting services include:
- Mailroom Services
- Invoice Processing and Disbursements
- Approval Workflow
- Vendor Management
- Electronic Invoice Integration
- Statement Research
- Utility Tracking
- Positive Pay
- 1099 Reporting
- W9 Tracking
- Tax and License Processing
- AP Aging Report
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Click HereQBSS provides an end-to-end solution that provides a holistic view of the order to cash process. This, in turn, serves to enhance overall performance of the business’ accounting processes and financial reports. Outsourcing your accounting services entails:
- Prepare, Verify, and Dispatch
- Order Management
- Customer Billing
- Customer Inquiries
- Cash Management
- Monitor and Follow-Up for Collections
- Setup and Monitor Customer Master
- Bad Debt Analysis
- Accounts Receivable Reconciliations
- Accounts Receivable Aging Report
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Click HereWe offer practical, prudent and hands-on advisory support, and insights in specific business areas to enhance your agile decision making and critical strategic initiatives planning.
Our services help create a consolidated view of your financial model for acquisition analysis with quality and accuracy.
- Review multiple acquisition targets in one file with sensitivity toggles
- View consolidated profit and loss and cash flow for all selected acquisitions
- See revenue and expense forecasts including monthly/quarterly EBITDA/adjusted EBITDA numbers
- Automatic covenant testing for lenders, such as leverage ratios, FCCR, etc
- Include investing activity considertation values into the calculations
- Analysis to evaluate an increase or decrease in revenue or cost assumptions and the effect on EBITDA, net income, cash balances and financial covenants
- Identify debt-equity split for debt and equity schedules
- A consolidated view of key benchmarks such as revenue, income, CAGR, key ratios and stock prices
- Dynamically adjust revolver drawdown based on minimum cash balance to be maintained
- Comparisons of forecast versus actual post acquisition
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Click HereOur services offer executive-level support and management of finance teams to drive enterprise value.
- Review and identification of opportunities for EBITDA improvement
- Management of budget and forecasting cycles
- Assessing organization and making recommendations for growth
- Preparation for acquisition, merger or exit
- Implementing plans to optimize cash flow
- Providing guidance and oversee due diligence activities for raising capital and attracting investors
- Management of year-end processes and review of year-end closing
- Preparation or management of audit process
- Review and preparation of facility reporting
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Click HereOur services help systemize your various evaluation and documentation needs with effectiveness.
- Review of existing processes for streamlining and standardization for uncovering automation opportunities
- Providing experienced professionals for developing policies and procedures for startups and other companies
- Documentation of standard operating procedures
- Organization and guidance in updating existing documentation
- Updating backlogged processes, determining the reason for the backlogs with implementation of improvements
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Click HereQBSS takes care of the complete Human Capital Management and Payroll needs. Our unique approach addresses the employment life cycle from pre-hire to post-retire thus successfully managing your talent while reducing your HR overload. Regardless of your company’s size, our flexible technology and service models streamline processes, improve productivity and simplify administration to help you achieve peak performance.
- Evaluation of HR administration and compliance supervise basic functions and guidance to management of the HR administration
- Review procedures for industry best practices and efficient operations
- Supervise basic HR functions and guidance to management on HR administration
- Provide strategic HR methods in relation to business objectives
- Provide tools and recommendations to enhance organizational culture
- Strategic guidance relating to staff engagement, development, and performance management
- Support creation of compensation philosophy and total
rewards package
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Click Here- Manage, advise and administer employee benefit plans through an HRIS
- Maintain an employee handbook
- Oversee and facilitate employee on-boarding, talent acquisition, and off-boarding processes
- Function as an HR compliance advisor relating to local, state, and federal labor laws
- Advise on employee relations coaching
- Liaison for management and the Board of Directors.
- Facilitate a transition of electronic HRIS
- Partner with management to facilitate performance management practices
- Managed Payroll
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Click Here- Executive Search
- Executive Coaching and Development
- Retained Talent Acquisition Search
- Leader Coaching and Development
- Organizational Development
- Individual Coaching and Development
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Click HereHow Our Clients Get More To Go On, While Focusing On Lean Operations:
- Enable faster decision making in real-time, with digitally enhanced, compliance ready and accurate reporting delivered within 10 business days
- Gain an end-to-end holistic view through analytical dashboards, reports and benchmarks
- Enhance technical and technological capabilities without inflated overheads
- Grow your business without added pressure on your resources or overhead
- Focus on “big-picture” strategies and not back-office operations
- Boost bottom-lines with up to 40-60% reduction in costs
- Garner actionable insights from a team of industry experts
- Leverage vertical-specific best practices, while being fully compliant with regulations and tax legislation
Latest Trends and Strategies
Vertical Experience and Authority to
Provide Domain Expertise and Benefits
“ To succeed in your business, you have to determine your core competencies and focus your time and energy on your own core business and operational metrics. Our interest is in driving the operational excellence of our restaurants, not handling the burdensome accounting tasks. We serve hot and fresh food with fast and friendly service in clean and safe restaurants. We rely on QBSS to get where we need to be with our financial processing. ”
PRESIDENT & CEO, LARGEST FRANCHISE OPERATOR OF PANCAKE RESTAURANTS
“ We rely on QBSS to help us get to where we need to be with our financial processing. Running a profitable business that attracts repeat customers is up to us. ”
MIDWEST MULTI-LOCATION RESTAURANT FRANCHISEE
“ We have partnered with QBSS since 2009, and could not be more pleased. The team they have assigned to manage our account has been very professional and always willing to help. They have been a great asset in allowing us the ability to manage our business in a much more efficient manner than was ever possible in the past. Specifically their QConnect program has allowed us to review P&L's much easier with the ability to drill down to the actual invoice. When doing our financial review we are now able to have answers immediately instead of having to sort through a stack of paperwork to locate a hard copy of the invoice. We are also now able to review P&L's on a weekly basis resulting in fewer issues when the preliminary monthly P&L is delivered. By reviewing the weekly P&L's, especially near month end, this has helped us eliminate any surprises when we receive the P&L's. QBSS has been able to provide our final P&Ls several days earlier than we were getting in the past, therefore, allowing us to close out the month end sooner. ”
PRESIDENT, LEADING FRANCHISE OPERATOR OF DRIVE-IN RESTAURANTS
“ We contracted with QBSS and handed them a seriously flawed accounting system. A month and a half later, they had us ready to present a credible budget to our Board. One year later, the budgeting process is far easier than it has been. It is the basis for better planning and control than we have ever had, and provides a great deal of comfort for those of us who live with numbers. ”
BOARD CHAIRMAN OF YOUTH ORGANIZATION
“ I’m very pleased with the way QBSS has handled the relationship with our store. Because their staff is familiar with our business, they are able to help us interpret our data and identify trends, and they respond when we need additional information. The current economic climate has presented us with many challenges for controlling costs and maintaining profitability. The experienced staff has provided us with ideas and recommendations that have contributed greatly to helping us protect our bottom line. I would highly recommend QBSS for their professionalism, efficiency and affordability. ”
OWNER, UPSCALE FAMILY-OWNED COMMUNITY SUPERMARKET
“ Our project implementation and transition was quite smooth. QBSS always responded well whenever there was an issue to be sorted out. ”
A LEADING CLOTHING MANUFACTURER
“ I've always been pleased with Quatrro because their people are very supportive and are always willing to listen. Their accountant also takes the initiative and calls us with her questions or suggestions. I also feel that Quatrro understands our needs as an independent store. For example, the layout of their reports is easy to follow and works well with Auto Parts Industry. ”
AUTO PARTS RETAILER
Frequently Asked Questions
Outsourced accounting service providers enable a business to reduce overhead expenses, increase efficiency and make more informed business decisions. Accounting functions that are commonly outsourced are:
Accounts Payable/Accounts Receivable: Outsourcing the accounts payable and accounts receivable functions enables an organization to focus on the strategy of their cash flow rather than actually having to focus on the transactional work of processing and collecting, or paying, invoices.
Bookkeeping Services: Outsourcing this service gives the company access to reliable and accurate financial reports based on the transactional data entered throughout the period, which improves e financial data visibility for informed decision-making.
Enhanced Financial Reporting: By outsourcing finance and accounting functions, the business can leverage expert and timely advice from the service provider, on reports outside of the standard monthly financials including reporting around budgeting, benchmarking and trend reporting. These additional reports provide enhanced support for business strategy and decision-making.
Controller Services: Outsourcing this component of the finance and accounting work can bring enhanced expertise around audit preparedness and financial reporting - all of which provide insights into the financial health of the business.
Financial Planning: An outsourced accounting team can complete regular cash audit and budget tracking tasks that an in-house accounting team is often pulled away from completing on a regular basis. All of these activities allow the business leaders to better forecast future costs and revenues which lead to being able to make better-informed decisions about the future of the business.
Tax Services: This generally includes tax preparation and filing of sales and use tax as well as property tax and income tax, in order to ensure regulatory compliance and maximized tax benefits.
Outsourcing finance and accounting functions accrues a varietyof benefits to businesses, no matter the size:
Access to Accounting Experts: Partnering with a business process service provider with deep industry knowledge and expertise, the business’ books are always accurate, compliant and completed on time, with minimal risk of penalties or regulatory noncompliance.
Ease of Scaling Up the Business: Outsourced accounting services can ensure the business is able to scale-up back-office services with ease as the business grows and without any lag.
Access to Real-Time Information: A dedicated team of experts ensures that the company has real-time access to financial reports, allowing the leaders to make agile business decisions based on actionable and reliable data.
A Proactive Approach: An outsourced accounting team stays proactive and is able to identify and highlight potential threats and challenges as well. This, in turn, ensures financial reporting is more accurate and intelligent.
Quatrro’s finance and accounting services enables customers to have better financial control through streamlined processes sharper insights for healthy cash flow, the right people and technology to drive long-term growth.
Quatrro’s dedicated team of professionals brings decades of industry expertise and best practices in three primary domains: finance and accounting; business improvement and human resource services.