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FREQUENTLY ASKED QUESTIONS

Everything you need to know, so you can avail our services like a pro.

To focus on your business core, accounting outsourcing is the need of the hour. Accounting outsourcing can improve efficiency and effectiveness of your existing functions with experience and expertise. You get value-added services and save costs significantly. Overall efficiency gets improved dramatically. A more consistent accounting process is ensured streamlining the finance and accounting function.

What better than getting it all done by experts, at competitive prices!

Outsourcing finance and accounting services to Glocal offers you several advantages, key among those are:

  • Cost savings
  • Access to latest accounting software
  • No Infrastructural or administrative cost
  • Increased productivity and efficiency
  • Easy access to skilled resources
  • Less turnaround time due to time-zone advantage
  • Less dependency on internal resources

Glocal is a pioneer in offering finance and accounting services, and has been providing finance and accounting outsourcing solutions to global customers across diverse industries for over a decade. We have been in the business, are trusted and recognized as the most reliable accounting outsourcing partners in the USA and India.

We offer accounting outsourcing to all kinds of businesses, in all industries and across all markets.

  • IT
  • Healthcare
  • Life sciences
  • Engineering
  • Manufacturing
  • BFSI
  • Consumer brands
  • Technology
  • Transportation & logistics
  • Pharma
  • Hospitality

We follow a simple process to help you resolve your Finance & Accounting challenges. Here is the breakdown of the procedure:

1. Discussion & orientation

The first step is understanding your business, its current bookkeeping, accounting, and reconciliation status. We do this over a consultation call where we discuss future business plans, the scope of work and other deliverables.

2. Tailor a service module for your business

Secondly, we mutually define a process for data access, query resolution and reporting. We fix up the agreement and terms of service. Accordingly, a quote is given and materialized. Upon contract agreement, we set up a dedicated accounting team for you.

3. You focus on your business and leave the rest to us

During initial months there needs a little monitoring from our senior team and yours. Soon we start managing your end-to-end accounting function, independently. Deliverables on agreed timelines and reporting in agreed formats are assured.

We use the latest finance and accounting softwares, like QuickBooks, Accounting Power, Xero and Sage.

In case your organization uses different finance and accounting software, we have the expertise and skills to work on the software of your choice and employ it effectively for your bookkeeping, accounting, payroll, sales tax or tax return services.

We have automated and state-of-the-art softwares that will process the most complex data with utmost ease and present results in an organized manner. These are tools that enables us to enable you succeed!

You can either opt to outsource your project completely, or choose to get specific tasks done. Once you forward your requirements, we will build a custom workflow and assign a dedicated team to work on your specific requirements.

We have 3 main options:

  • Full-time accounting resources
  • Part-time accounting resources
  • Ad-hoc accounting resources

Yes, accounting outsourcing is one of the best ways to deal with the paperwork, digitize and streamline the entire process nowadays.

We are committed to the security and confidentiality of the information that you share with us. That is why we have set up a reliable information security system.

To ensure the privacy of information, we encourage our customers to sign in a Confidential Non-Disclosure Agreement (NDA) at the beginning of every project. The NDA is legally binding and is a vital document which ensures the absolute security of your information in our hands. We also do not publish any of our client projects without prior consent.

Once the mutual contract is agreed upon and we get all the data inputs from your end, we dedicate a team to do the bookkeeping for you.

They work closely with you to deliver the following services:

  • Bank Account Reconciliation
  • Bank Feeds
  • Credit Card Reconciliation
  • Data Entry
  • Accounts Receivable
  • Accounts Payable
  • Invoices Processing
  • Bills Enter
  • Batch Enter
  • Finalization of Accounts
  • Year End Journal Entries

Once the mutual contract is agreed upon and we get all the data inputs from your end, we dedicate a team to do the accounting function for you.

They work closely with you to deliver the following services:

  • Customize Management Reports
  • Preparation of Monthly/Quarterly/Annual Reports
  • Cash Flow Management
  • Profit & Loss Statement and Balance Sheet Preparation
  • Write up Services
  • Forecasting & Budgeting
  • Maintaining General Ledger
  • Inventory Accounting
  • Asset Accounting
  • Accounts Receivable/Payable Aging Summary

Once the mutual contract is agreed upon and we get all the data inputs from your end, we dedicate a team to do the payroll processing for you.

They work closely with you to deliver the following services:

  • Payroll Setup in the software
  • Preparation of W-2s, W-3s and W-4s of each employee
  • Setup Weekly/Bi-Weekly/Monthly pay rate of each employee
  • Calculating Annual/Sick leaves and Vacation pay of all employees
  • Calculation of Payroll Withholding like Federal Withholding, State Withholding, Social Security and Medicare
  • Generation of Weekly/Bi-Weekly/Monthly payroll of all employees
  • Create Paychecks using software
  • Calculation of Payroll Liabilities to the IRS
  • Prepare and File Payroll Returns (Form-940 & Form-941) to the IRS
  • Make Journal Entries of Payroll Liabilities

Once the mutual contract is agreed upon and we get all the data inputs from your end, we dedicate a team to do the sales tax function for you.

They work closely with you to deliver the following services:

  • Sales and Sales Tax Computation
  • Company setup and tax return configuration
  • Manual adjustments based on company’s needs
  • Final review and approval
  • Fund notification and management
  • Tax return filing and remittance
  • Tax notice management

Once the mutual contract is agreed upon and we get all the data inputs from your end, we dedicate a team to do the tax return for you.

They work closely with you to deliver the preparation of these tax returns:

  • Form-1040 (US Individual Income Tax Return)
  • Form-1040NR (U.S. Nonresident Alien Income Tax Return)
  • Form-1041 (US Income Tax Return for Estates and Trusts)
  • Form-1065 (US Return of Partnership Income)
  • Form-1120 (US Corporation Income Tax Return)
  • Form-1120S (US Income Tax Return for an S Corporation)
  • Form-1120F (US Income Tax Return for Foreign Corporation)
  • Form-1120 IC-DISC (Interest Charge Domestic International Sales Corporation Return)
  • Form-990 (Return of Organization Exempt From Income Tax)
  • Form-990-T (Exempt Organization Business Income Tax Return)
  • Form-706 (United States Estate (and Generation-Skipping Transfer) Tax Return
  • Preparation of State Taxes
  • Preparation of Franchise Taxes
  • Preparation of Business Tax Returns’ Work Paper
  • Preparation of Remaining Documents Checklist
  • Review of Tax Returns in 2 levels (Preparer Review & Supervisor Review)

We provide an average 7 working days for turnaround of tasks/projects from the time we receive the final chunk of data/information from you. At premium rates, we can also turnaround jobs in 2 to 3 working days. However, this depends upon the volume of work. For monthly and ongoing bookkeeping, accounting, or payroll processing, the turnaround time will be lesser than the actual.

We are based in USA. Check our full address below:

3422 Old Capitol Trail Wilmington DE 19808, USA

In case of a query, doubt or clarification, you can connect with our onshore manager. Alternatively, you can write to us on our email ID.

We make use of the paramount communication technology to make sure that our finance and accounting services representative team is available 24*7 over e-mail, Skype, phone and chat to answer your queries and address your specific requirements at all times.

It is simple. You just need to do is complete a given format and fax or email us a signed copy.

You can contact our team using the below contact numbers or email ID to enquire about our services and terms of service.

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