Modern Quill Solutions
At Modern Quill Solutions, we specialize in providing seamless and reliable accounting outsourcing services tailored to meet the unique needs of small and medium-sized businesses.we’ve been helping businesses streamline their financial operations, optimize cash flow, and focus on growth by taking the burden of accounting off their shoulders.
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Who We Are
ABOUT THE COMPANY
Executive summary
Services Offered
why choose us
Bookkeeping Services
Initial Setup
We assist with the initial setup, including the Chart of Accounts, vendors, customers, business segments, recurring templates, and integration of accounting software with add-on modules.
Accounts Payable Management
Efficient management of vendor bills and payments, ensuring timely and accurate processing.
Accounts Receivable Management
Handling customer invoices and collections, ensuring your business maintains healthy cash flow.
Bank Reconciliations
Regular reconciliation of current and credit card accounts, maintaining accuracy in your financial statements.
Inventory Management
Detailed inventory tracking, valuation, and reconciliation integrated with your accounting systems for optimal accuracy.
Recording and Reconciling Payroll Transactions
Ensuring payroll transactions are accurately recorded and reconciled with bank deposits.
Electronic Document Management
Organizing and managing electronic documents to streamline your bookkeeping processes.
Revenue Reconciliation
Accurate reconciliation of revenue with bank deposits, ensuring all income is correctly recorded.
Expenses Management
We meticulously track all business expenses and implement strategies to reduce costs while ensuring compliance with your company’s policies.
Accounting Software Solutions
We leverage leading accounting software such as QuickBooks, Zero, Foundation to streamline your bookkeeping processes.
At ModernQuill, we understand that accounting is the backbone of any business, providing the necessary foundation for financial stability and growth.
Financial Management services
At ModernQuill, we understand that accounting is the backbone of any business, providing the necessary foundation for financial stability and growth. Our comprehensive accounting services are designed to meet the unique needs of businesses, whether small, medium, or large. We offer:
Financial Reporting and Analysis
Preparation of detailed financial reports such as Income Statements, Balance Sheets, and Cash Flow Statements, that help in informed decision-making.
Accounts Payable (AP) and Accounts Receivable (AR) Management
Complete management of AP and AR, including Purchase to Pay (P2P), Order to Cash (O2C), and Record to Report (R2R) services.
Job Costing
Accurate tracking of expenses and revenues by job, including setup, cost allocation, invoicing, and detailed reporting, helping you identify profitable areas and improve bidding accuracy.
Consolidation of Financial Statements
We assist in consolidating financial statements for group businesses, providing a clear and cohesive financial overview.
Cash Flow Management
Budgeting, forecasting, and managing cash flows to ensure your business remains financially healthy.
Payroll Processing
Accurate and timely payroll processing, including reconciliation of payroll transactions and compliance with statutory requirements.
General Ledger Maintenance
All financial transactions are meticulously recorded in your general ledger, ensuring your books are up-to-date and accurate.
Audit Support and Preparation
We prepare your financial records for audits, ensuring everything is in order and compliant with accounting standards. We work closely with auditors to facilitate a smooth and efficient audit process.
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HOW IT WORKS
OFFLINE BASED
In this process documents are scanned first and scanned files are uploaded on shared drive. Modern Quill processing center downloads these documents and processes the information as required. Once the work is finalized, the files are uploaded on the drive and a confirmation email is sent about the same. The Client then downloads the files from the server.
REMOTE ACCESS BASED
In this process again the documents are scanned and sent to Modern Quill by way of upload on our secured server through our web portal. Modern Quill later downloads the documents from the server. In the next stage Modern Quill connects to the firm’s computer via remote desktop access or VPN and works on the information received on the firm’s computers using the software of the firm and processes the documents. Once the job is done, we log out of the remote desktop and intimate about completion of job to the firm.
CLOUD COMPUTING
In this process the firm should have the setup of working on cloud, where all the documents and software of the firm reside on the cloud. Modern Quill is allocated number of desktops on the cloud based on the quantum of work being outsourced. The employees at Modern Quill access the cloud and documents the same way as the staff of the firm and work is processed based on the information given. In this case additional IT capabilities such as dedicated leased lines and dual screen monitors are required to work effectively. In this process documents reside on the servers of the accounting firms and copying and printing of the same is not done. This is the most secured way of all.
METHODOLOGY
PRE-ENGAGEMENT
a) Initial Consultation: To gain insights on existing work processes, team structure at client’s firm, softwares being used for various processes & file templates. These give key ideas for formulating the service model.
b) Best Practice Proposal: Based upon above Modern Quill would provide outsourcing proposal detailing processes, team & pricing.
ENGAGEMENT
a) Software access: Client to set up cloud/vendor access to Modern Quill for all softwares, such as Xero, Quickbooks, SAGE.
b) Document access: Via VPN access to client’s PC.
c) We process the information received on our end and update the client’s accounting software or upload the processed file on the cloud depending on the nature of work.
Advantages
Modern Quill is committed to providing high-quality, reliable, and
comprehensive financial management services that will help your
business thrive. Our focus on accuracy, efficiency, and strategic
planning will empower you to make informed financial decisions, drive
growth, and achieve long-term success. We look forward to the
opportunity to work with you and contribute to your business’s
financial health.
Cost Effective
Confidentiality
Confidentiality is maintained
as we work under NDA.
Accuracy
We perform 2-Stage review
process which ensures quality
and accuracy.
Consistency
Modern Quill keeps adequate
bench strength to address issues
to Staff Turnover and Skewed
works at the time of Month End.
Effectiveness
Quick turnaround time for the tasks allocated
Experience
Our Parent company is working
in the field of accounting and
auditing from last 26 years.
Both the partners at Modern Quill Solutions have worked in PwC IAC and have worked on both US and UK based comapnies giving them vast experience and exposure to the accounting environment of international organisations.
