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Edward M. Mulherin
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Frequently Asked Questions

YOUR ANSWER IS eCRATCHIT!

Who is eCratchit?
eCratchit is a leading provider of web-based, bookkeeping and accounting solutions to start-up, small and medium sized companies. Conceived and managed by CPAs, we integrate “best of breed” technologies with proven accounting processes and expertise to deliver a cost-effective alternative to traditional in-house bookkeeping departments. Our service fulfills the business owner’s basic financial need for timely, accurate and useful financial information.

What are the benefits of using eCratchit?
eCratchit provides professionally prepared, accurate financial information that business owners and their financial advisors need to make rapid, informed financial decisions. The service provides cost and time-saving advantages, allows clients to control financial and cash related decisions, provides desktop access to their financial data, and relieves the burden of building and maintaining an internal bookkeeping and accounting department. We remove the day-to-day burden of bookkeeping and accounting functions. We allow management to focus on running their business in a cost-effective manner while providing expertise and peace of mind unavailable from traditional bookkeepers.

What services do you provide?
eCratchit provides a full range of accounting and bookkeeping services including A/R, A/P, General Ledger entries and bank reconciliation. We integrate automated payroll systems into our process, and prepare comprehensive monthly financial reports. We are your Accounting Department and take complete responsibility for creating and managing your accounting processes and reporting.

Who will service my account?
You will be assigned a team to each client, ranging from accounting specialist, experienced bookkeepers, to CPA/CFO level staff.

How does eCratchit integrate historical data?
We convert your existing data into the eCratchit system during the initial client set-up process.

Will you replace my current CPA?
No. We view CPAs as an important part of your business team, and to be important channel partners for eCratchit. We will work closely with your CPA during the client set-up, and help define the kind of financial reporting needed to assist you in financial management of your business. eCratchit helps eliminate the frustration that can build between CPAs and their clients due to inadequate bookkeeping and accounting – the client believes they are charged too much by the CPA for simple bookkeeping service, and the CPA cannot charge full value for his or his staff's time for simple accounting services. By utilizing eCratchit, your bookkeeping and accounting is performed at market value, and your CPA can focus on providing more profitable value-added services.

What type of security is provided?
128-bit SSL encryption enables clients to verify authenticity and to securely communicate with our servers which protects confidential information from interception and hacking. This is the world's strongest SSL encryption with both domestic and export versions of Microsoft® and Netscape® browsers. 128-bit SSL is the standard for large-scale online merchants, banks, brokerages, health care organizations and insurance companies worldwide. Furthermore, our servers use multi-tier authentication over SSL to ensure the strongest measures of security for safeguarding your data.

Will I lose control of my financial decision making?
Absolutely not! We will provide you with a process that will give you increased control over cash management, and improve your decision making by providing timely, accurate financial reports. You will see scanned images online of all of your vendor invoices and nothing will be paid with out your prior approval.

Who can have access to my financial information?
Only those you have chosen to give access to your password(s), such as board members, CPAs, and financial advisors. We can also block access to certain sections of your information.

Does eCratchit cover the other administrative functions that my bookkeeper also performs?
No. Our philosophy is to be the very best at our core business. We would recommend that you split the job and hire an administrative person to perform basic tasks. These employees are usually easier to find and require less in wages than a trained bookkeeper. If your trained bookkeeper was performing these functions, chances are you weren’t getting your accounting done well and were paying higher bookkeeper wages for someone less qualified.

How do I control payment of bills?
eCratchit will notify you by e-mail when your bills have been received by us, when they are posted, and when they are ready for payment. You will see a scanned copy of all invoices prior to approval; all available online in your secure portal. You simply check off the vendors, amounts and dates you would like invoices paid. No payment is made without your approval. You may also visit your secure section of our website anytime to view the status of your bills.

What if I want to write a check myself?
We recognize that business owners occasionally need to write a check to a vendor or employee on the spot. While we encourage business owners to keep their own check writing to a minimum, all we require is that you record and notify us of the particulars of the check.

How do I access my financial information?
Through your web browser, you may enter your password protected section of our website for a quick overview of your financial picture. On your private page you will have an immediate status of current cash balances, bills due to be paid, and the current month activities. You can also click on your historical monthly financial reports, or chose to drill down into historical financial data such as vendor payments and customer receipts.

What type of reports will I receive on a monthly basis?
eCratchit will prepare the standard reports that will make your accountants, bankers, and investors happy – as well as assist you in developing "Super Reports" and graphs that focus on the business drivers for your company.

Is my business a good fit for eCratchit's services?
It depends, basically if the business can run on quickbooks it can run on eCratchit. We have worked with hundreds of businesses in many different industries. Additionally our clients tend to have gross revenues for $750,000 to $5 million.

How much does eCratchit cost?
Historically, our costs have proven to be less than our clients were paying for their accounting staff, or would be required to pay if they built their accounting department internally. We estimate that the hidden savings in management and other departments’ time may be as much as 50% of our cost again. Our fees are based on the volume and complexity of each client. We meet with you to work up a detailed scope of service and charge flat fees that range from an average of $250 to $500 per week.
See our cost calculator for more information.

 

 

 

 

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eCratchit . 625 Grove Street . Braintree, MA 02184 / 1-888-856-9999