FAQs on Mentoris

FAQ

Q. What does Mentoris do ?

Mentoris Solutions is a Global provider of accounting solutions to International customers. Mentoris core competency is Finance and Accounting outsourcing. It is a professionally managed company having CPA’s, exCFO’s, Finance Managers and executives at various levels to ensure width and depth of expertise.

Mentoris is run by qualified specialists in finance and accounting having over two decades of experience along with expertise in IT implementation. Our Team members will work in the background and enable you to concentrate on Value Creation. Mentoris believes in long term relationship and strives to deliver high quality of Finance and Accounting services.
Q. Why should I outsource my accounting/bookkeeping/tax preparation to Mentoris?

Outsourcing allows you to provide the best service to your clients because our professionals provide high quality, detailed processing of your client financial data in less time at approximately 40-50% of the cost. You can grow your business by retaining and attracting new clients with value-added services without increasing overhead or expanding staff. Outsourcing helps in reducing operating costs, it frees up your intellectual capital thereby allowing increased and effective utilization of capabilities towards core functional activities and allowing mundane and repetitive work to be done by outsourced companies.

Q. Can you quantify the cost-savings of Mentoris services?

On average, our clients experience a 40-50% cost-savings due to the availability of highly qualified accounting professionals at lower cost at our data processing center in India and quick turnaround due to the time difference.

Q. If I already have an accounting staff, why do I need Mentoris?

We selectively employ and create dedicated account teams that are highly experienced with even complex accounting and tax issues. We can work to complete the busy work, while your staff can focus on additional value-added services for your clients or simply reduce overhead.

Q. I am a qualified CA/CPA why do I need Mentoris?

What keeps accounting and bookkeeping firm managing partners up at night? It is the task of finding and keeping qualified staff at the same time providing better and faster services to existing customers, adding new customers and providing value added services to existing customers. A no mean task as good qualified certified professionals accountants are getting harder to attract to the firm and even more difficult to retain.

While there are Millions of small businesses in US and Europe who want access to affordable professional bookkeeping services there is great difficulty in finding consistently reliable and dependable high-quality bookkeeping service at an affordable price.

Accounting outsourcing service is meant to save your money and improve the financial condition of the firm. Usually, the accounting services of a firm are outsourced when they are over-loaded with work. When the professionals are not able to handle the work in their firm, they shed some of their work load on the outsourcing companies. Outsourcing to us would enable you to concentrate on the other crucial areas of the business. This will help you to earn greater profits

Accounting outsourcing service ensures better quality of service. It is because the companies handling outsourcing services concentrate thoroughly on the accounting work. Many accounting firms outsource various accounts related tasks, such as invoice generation and reconciliation, Daily transaction processing, Bank and credit card reconciliation, general ledger updates, generating accounts, financial statement creation and reporting, Payroll and tax preparation services. Outsourcing these services to us will save your money that would have been wasted in hiring a full time staff for managing such accounting tasks.

Q. Mentoris is a Certified QuickBooks pro advisor, what you mean by that?

Certified QuickBooks ProAdvisors are those professionals who work with small businesses and CPA, who have completed a rigorous and comprehensive QuickBooks curriculum. They understand the challenges you face and can offer guidance on everything from complex accounting questions and payroll interpretation to mastering advanced features of QuickBooks.

Q. Why Use a Certified QuickBooks Pro Advisor?

Many QuickBooks customers say their experience with QuickBooks is better when they work closely with a QuickBooks expert. Certified QuickBooks ProAdvisors are typically professionals who have been tested and certified on QuickBooks.ProAdvisors help businesses customize QuickBooks for their unique needs and help them get the most out of the software. ProAdvisors are also a great resource if you run into trouble with QuickBooks. ProAdvisor fees are typically reasonable and many businesses feel the investment is valuable.

Q. Is there a minimum commitment required to try Mentoris services?

No. We are able to ramp our dedicated account teams up or down based on your needs and there is no long-term obligation.

Q. Finance and accounting is such an integral part of any business, Will there be loss of control if we outsource to company like Mentoris Solutions?

Not really, The integral part of the company is its core business making activity which is not outsourced, Infact by freeing some of your key resources from mundane activities, your organization can focus on more critical functions like servicing your customer and business value or goodwill creation.

Q. What is the outsourcing process that Mentoris follows?

There are several options and depending on your requirement and choice you can choose any one of the following process listed below

Option 1: Server Based
Options 2: Remote Access Based
Option 3: Hosted / Online Software Based
For detailed depiction please see under the head Workflow

Q. How can we monitor progress?

We have our onsite representatives with whom you can interface. They will be in constant Touch with you and will coordinate all project related scheduling and updates with our team offshore. Our team will send weekly progress updates and if necessary access to common project management tools can be provided where you can log in and see the current status online 24x7.

Q. What is your business and pricing model?

We offer fixed price, Time and material (Hourly) and Dedicated (Full time equivalent) based pricing. The pricing differs based on the scope and complexity and depends on clients requirements.

Q. What are the options if I am not satisfied with your work?

We are confident this situation will not arise, we have a clear SLA (Service Level Agreement) drawn outlining issue escalation and redressal mechanism, Regular and periodic reporting with our operations and Manager

This is also covered through clear termination clauses in the contract. However, we try to prevent such a situation arising by providing you with clear problem escalation routes. You can raise any issue to the Operations Manager and the Director for redressal and an appropriate solution will be provided immediately.

Q. How can I provide seamless service to my clients?

We operate transparently, as an extension of your firm. We perform the data processing, while your staff is responsible for final review and approval of financial statements and tax documents prior to sending back to your clients.

Q. Can I communicate with Mentoris staff?

Our U.S. based team serves as your primary point of contact for getting started. However, the Mentoris accountants, bookkeepers and supervisors that process your client data are all English-speaking and interact with you via secured servers, fax, telephone, email or live chat. However, we are well structured to serve those firms that prefer to interact with our US based account representatives.

Q. How is my client base protected?

F&A is all about being committed and sensitive to security and confidentiality of data, As F&A service providers we have various processes and measures instituted to ensure confidentiality of data and client information, Apart from using the best encryption technologies for data transfer.

We sign confidentiality agreement and SLA’s with our customers and has a back to back agreement with our employees and this is a legal binding document.

At our offshore facility we follow a three layered security Physical access, Login access, Change access and, all employees undergo screening process and background checks before they join Mentoris.

Q. Do you follow any code of conduct?

A The Mentoris team follows a code of professional ethics of The Institute of Chartered Accountants of India which mirrors those of the AICPA, We also have American CPA’s onsite who are part of our interface team and assist you in project monitoring and control and they are governed by AICPA.

Q. How does the staff in India stay appraised of current U.S. accounting practices?

Our U.S. and India-based staff work closely to ensure that account teams participate regularly in continuing education and training programs conducted by Quick books, Peachtree,Sage,MYOB and others, as well as client-specific software.

On the Soft skill side we provide training on Personality Development, Communication both oral and written, Accent training.

Q. Does Mentoris offer any other services apart from F&A outsourcing?

No, Mentoris is fully focused on F&A and does not want to dilute quality of its offerings by servicing other allied or non allied opportunities