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Outsource Your Accounting with ProNexus - common questions answered

Outsource Your Accounting with ProNexus - common questions answered

Outsourcing any part of your business is a great way to keep overhead costs low, save time, and utilize outside expertise. But outsourcing also throws up many questions and your success is dependent on choosing the right partner for your organization. Below are 13 frequently asked questions when considering ProNexus as an Outsourced Accounting Partner. 

  1. What does the cost range and/or pricing model look like?

     

    The costs will vary based on the specifics of the client, but we typically bill a fixed monthly fee for Outsourced Accounting Services (OAS). The minimum commitment for OAS is one year. This way you can budget going forward and we can dedicate a team and continuity on your account in advance. We also invite a discussion on the pricing after we provide it, to work out the best solution for you. We are flexible on designing solutions to meet your needs. We can also fill staffing gaps in the interim especially for those instances where you only need support for less than one year. These services are provided on a time & materials basis.

  2. What does onboarding look like from a timeline and process perspective?

    Timeline can vary by client depending on your current state, the technology involved, and complexity. Typically, we can start working on your account immediately if we need to continue the department’s productivity, but it could 60-90 days to fully learn your account depending on the complexity. During the learning phase, we would identify opportunities and make recommendations to streamline policies, procedures, and systems. Thereafter, we would implement those recommendations and continue to look for ways to add value to your account.

  3. Does ProNexus offer a month-to-month pricing model?

    We typically require at least 12 months as it is an investment in our time and yours to become efficient in your account and to fully optimize processes. In the event you're looking for month-to-month, you should consider our interim & loan staff augmentation services.

  4. Will we have set team members on our account?

    Yes, you will work with the same team members. In fact, we use a team-based approach that typically includes a staff-level person, a manager, a controller/CFO, and a partner (just for review). That way there is continuity and back up. We find this approach to be very successful as a differentiator.

  5. What is the typical schedule for communicating with clients?

    We set up periodic status meetings whether weekly or bi-weekly, but at least monthly. That way we are not bothering you and your team on a daily basis. In the beginning, we will set up some workshops/process walkthroughs so the meetings will be more frequent during that time. We can also be reached anytime via email or by phone. As always, if there is something pressing, we will be sure to reach out to you.

  6. To what extent does ProNexus track down invoices/bills for recurring expenses vs relying on the client to do that?

    We create a recurring bills list (in the closing process) to make sure everything is booked each month. In tracking down payments and/or invoices we are missing (or late payments), we are your trusted partner (your accounting department so to speak) and can follow up with outside parties such as vendors with client permission.

  7. When doing bill paying what internal approvals does ProNexus typically recommend?

    We try to use software as much as possible, whether it be the workflows in NetSuite or through another AP tool like Bill.com (which integrates nicely with NetSuite). A typical workflow is as follows: we enter the bill, someone from the organization approves the bill, and another team member from the ProNexus team pays the bill. But this can vary per client.

  8. Does ProNexus offer an option to receive client mail and open/deposit checks?

    Yes, we do. It just depends on the client's preference.
  9. What technology tools does ProNexus use?
     

    We use NetSuite, QuickBooks, NetSuite’s CRM, Salesforce, Fluxx, bill.com, Certify, Jirav, and many others. If there is something we do not have experience in, we can learn it quickly – all team members will be proficient in using all client applications.

  10. What specifically does ProNexus do to help clients in respect to budgeting?

     

    We help almost all our clients put together budgets and forecasts. We try to use the ERP system to set up the budget and load it so that variance reports are easy to produce. We also use other applications such as Jirav. Lastly, we are proficient in Excel so if there is manipulation needed, we can do that. We have clients for whom we do the whole budget for their review, and we have clients where we just assist. It just depends on the skills and time of the client’s internal people. If dashboards need to be set up in NetSuite or another system, we can do that as well.

  11. What shared documentation does ProNexus provide/create to define SOPs for how accounting functions will be handled?

     

    Our staff members are CPAs, Controllers, and CFOs, with experience in all industries. We have materials created and a very thorough understanding of best practices when it comes to SOPs.

  12. What experience does ProNexus have with foreign currency?

    We have people on our team at ProNexus that have experience with foreign currency. Also, NetSuite does have advanced currency capabilities built in. 
  13. Can ProNexus present my financial statements to boards?

    Yes, we can present financial statements to boards or finance committees along with analyses if that is desired. 

 

 

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