Process for Outsourced Bookkeeping for Businesses

Overview of engagement process

Devanch welcomes Small and Medium sized Enterprises (SME’s) to its platform and is happy to introduce you with their professional team, their skill sets, infrastructure deployed and the operational model. You can meet Devanch team leads to discuss your bookkeeping requirements before you decide to engage them. We have a very transparent process in place to engage and serve our clients. We are reproducing a step by step guide for the whole engagement process:

Starting Point

You can contact us to discuss your specific business requirements. We will arrange a demo of our services for you. We will also send you an authorization request along with Non-Disclosure Agreement (NDA) to have access to your accounting data. You can then send all relevant data to us for review and analysis.

Scope of Work Discussion

We will then schedule a call with our bookkeeping team to discuss the results of analysis and to understand your expectations. We will share with you our understanding of scope of work so that you can review and provide feedback. We will send you an engagement letter to sign, once the scope of work is formally agreed.

Kick-off Discussion

Before kicking off the work, you or your team can have a call with our bookkeeping team lead to discuss the following:

  1. Roles and responsibilities of each party
  2. Overview of end to end accounting cycle and procedures in place covering:
  • Accounts payable process
  • Accounts receivable process
  • Payroll process
  • Inventory cycle covering sales and purchases cycle
  • Fixed assets accounting including acquisition, disposal and depreciation policy
  • Closing procedure including any period end adjustments
  1. Frequency / intervals at which bookkeeping work is required to be carried out i.e. daily, weekly, monthly, quarterly or annually
  2. Deliverables

Provision of Information

You or your team need to provide information at certain intervals agreed in point 3 of kick off discussions. This will include information such as:

  • Access to your accounting software
  • Placement of scanned documents in designated folders assigned on cloud
  • Dispatch physical documents in agreed format and manner in case you want us to scan on your behalf
  • Online access to bank accounts
  • Business credit or debit card statements
  • Details of expenses met out of owners personal account
  • Details of owner’s drawings/contributions

 

Execution

Our team will perform the bookkeeping work based on agreed scope of work. Any queries, missing information and questionnaires will be communicated back to you in agreed protocols. On receiving feedback, our team will complete the outstanding work. The same will be reviewed by bookkeeping team leads followed by review of qualified managers.

 

Deliverables

We will update your folder on cloud with reports, software backups and review notes once the bookkeeping work is completed, reviewed and finalized. We will also prepare any custom reports required by you. The reporting cycle will be concluded with acceptance of deliverables by you

Contact us today to discuss your business requirements. We believe in transparent pricing with no hidden charges. We can tailor our services around your budget and operational requirements. We can work from your premises or offsite, whichever way suits you !

If you want to know more on how we support businesses in their accounting and bookkeeping needs, read more here.

If you are an accountant or a bookkeeper yourself and want to know more on how we support accounting practices, read more here.

Contact us today to have an in depth understanding of our outsourced bookkeeping services  

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Contact us

Phone us: 1300 090 777

Service Areas

Queensland: Brisbane, Cleveland, Logan City, Beenleigh, Gold Coast, Ipswich, Sunshine Coast

New South Wales: Sydney, Paramatta, Bayside Council (Rockdale), Shellharbour

Brisbane Office: Office 24, 138 Juliette Street, Greenslopes, QLD 4120, Australia

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