PLAN: FAQ

Q: Why outsource my accounting and bookkeeping functions to Sitar Group?

Bookkeeping and accounting is both a time consuming and difficult job for your existing employees. Outsourcing these functions to Sitar Group will enable your staff to focus on core business activities while reducing overhead costs - avoiding additional wages, payroll taxes, fringe benefits, worker's compensation insurance, employee training, and management, accounting software, office space and other costs associated with an in-house employee.

Sitar Group also offers a depth of skills and multifunctional experience that is hard to find. For much less than the expense of hiring an additional employee, you will have access to the skills and expertise of staff that has an average of 15 years of industry experience.

Q: Why can’t I just hire a bookkeeper?

Well you can. In fact many of our current clients employed a fulltime or part-time bookkeeper prior to using our services. However, our services go beyond traditional data entry services. Not only do we guarantee the accuracy of our work but, we also ensure that you understand how to make decisions to grow your business from your financial statements. Additionally, in most cases our clients see an immediate cost savings as we carry all payroll expenses and insurance.

Q: How much can I save? How much does it cost?

Each situation is unique but it is possible to save 30% to 50% of your current finance and accounting cost through process efficiency, technology platforms and headcount savings.

When outsourcing accounting needs, a company doesn't have to worry about paying an entire team of in-house staff, full-time wages. If the accounting requirements of the company are not vast, an in-house team of personnel is simply too expensive. By outsourcing, a business can pay on an as-needed basis, or a team can be kept on retainer. This removes the need of having to handle payroll, insurance and other issues that are common when managing employees. For a no-obligation price quote please Contact Us.

Q: What kind of businesses & industries does Sitar Group work with?

We provide bookkeeping and accounting services to small, mid-sized and fast growing businesses in the Chicagoland area. Our average client has less than 25 employees or up to $10 million in revenue. Sitar Group has worked extensively with companies in several different industries including: Staffing, Professional Services, Faith Based, Health Services, Information Technology, Restaurant, Non-Profit and many others.

Q: How can Sitar Group's Accounting services help me manage my business?

Sitar Group provides a means to give your company accurate financial data so you can make decisions - i.e. identifying the customers and/or products that are the largest contributors to your success. We also enable your company to have a scalable accounting department without the typical complications (i.e. wasted time & money) associated with managing it internally.

As with all of our services, Sitar Group's professionals are available by phone, email or in-person meeting to field any financial /accounting questions or concerns you may have throughout the different "growing stages" of your business. The support we provide can be structured according to any ongoing or one-time basis that works for you. Whatever your goals or concerns are, we'll work it out with you personally and confidentially.

Q: Won’t I lose control if the books are done by an outside service?

We find that most companies experience disruption because of inaccurate accounting data or staff that leave. Sitar Group works with you to ensure that industry best practices are followed and that you have full access your books through backups and periodic deliverables - It works just as it would with your in-house staff, but you do not have to manage the process or people to get the results!

Q: Does Sitar Group provide audit and tax services?

Sitar Group does not provide income tax planning or preparation or perform audits. Those are the functions of your CPA and we instead act as an extension of your business to provide a foundation of accurate, auditable, financial records from which outside auditors work. Our fees are less than half of what an accountant would charge for the same functions. We would, however, be happy to recommend a local CPA for tax planning and other such services.

Q: Will my data be safe with you?

Your financial data will be completely safe with us. Sitar Group implements security measures at a staff, information and physical location level to ensure that your information is secure and kept confidential. No one will have access to any of your information without our permission. We have put into place appropriate security controls to ensure confidential, accurate and timely processing of all accounting data.

Q: How do I send my files to you?

You have several options to transmit your files to Sitar Group. For our offsite clients, you can choose either to send paper receipts and bank statements via mail which we will input and then promptly return for your records. As a convenient secondary option, you may grant access to our professionals to login remotely to your bank account via a secure connection. For our onsite clients, we'll come to you and work within your office for all input of data.

Q: Do you work on a time and material basis or on a fixed price basis?

We typically work on a fixed price monthly basis for accounting / bookkeeping work. With a fixed price, your costs are predictable. We take the burden of any cost overruns. However, we would be happy to price your custom project on a time and material basis.

Q: What software can I use?

Sitar Group works with all major software packages such as QuickBooks®, MYOB®, and Peachtree®. There are also several Internet-based accounting packages, such as FreshBooks®, ePeachtree®, Xero®, Net Ledger® and QuickBooks® Online. With these options you are not required to purchase any software or software licenses. You simply rent these application packages from the vendors on a month-to-month basis.

Q: Do I have to leave my current accountant?

Of course not. Sitar Group offers to take away your bookkeeping headaches - including data entry, accounts receivable / payable and bank reconciliation. Your current accountant will be grateful for this accurate data that they can really use to help you build more wealth.

Q: Will my accountant have access to my books?

Yes, but Sitar Group will only provide backup files or login codes with your express written condition. By allowing your accountant to access your data, your accountant can review or change your data files remotely without having to send periodic backup CD to your accountant. This alone adds up to a huge savings in time and money.