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Edward M. Mulherin
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How It Works

THREE STEP PROCESS
Implementing the eCratchit accounting and bookkeeping system is typically a three-step process which involves an initial client meeting, the eCratchit set-up and the day-to-day process of using eCratchit.

Initial Meeting
•1-2 hours in length involving your decision making team.

• Involves an in-depth discussion of your current accounting activities including systems, transactions, nature of your business, hours spent and reports generated.

• We determine with you how we will tailor our process to your needs. This includes outlining your responsibilities and those of eCratchit, and the processes each needs to follow.

Set Up
Our set-up process generally consists of one visit to your offices by an eCratchit accounting specialist, and several hours of off-site work by our team. The on-site visit consists of:

• Your signing of documents and forms to effectively outsource the bookkeeping function.

• Working with you or your accountant to review your Chart of Accounts and to determine which monthly reports should be generated, including special reports tailored to your business drivers.

• Introducing you to the eCratchit team assigned to your account, and providing you their direct phone and e-mail contact information.

A minimum starting point for converting you to the eCratchit system is an opening trial balance. If an accurate trial balance with a satisfactory Chart of Accounts is in place at the start of our engagement, we can convert your legacy accounting information and start immediately. If there is not an accurate trial balance, or satisfactory Chart of Accounts, you have a choice of engaging eCratchit or your accountant to perform this service.

• Most clients are up and running in our system in one day.

Day to Day Invoices and Deposits
You have the choice of preparing invoices and billing customers directly, or including invoicing as part of the eCratchit service. If you maintain the invoicing function, we will develop processes with you to ensure that we are notified of all invoices sent, and their corresponding cash receipts.

Bill Payment
eCratchit pays the bills for its clients, and posts the payment to the General Ledger. In most cases, your vendors send invoices directly to us (either physically or electronically) for processing. We organize your bills, scan them, post them to the General Ledger, and present them to you via the Web in an orderly fashion for review, approval, and payment. We notify you via e-mail when bills have been posted to your account. By visiting your secure page on our web site, you have the ability to view the scanned image of invoices, which appears just as the original invoice would on your desk. We allow you to approve and schedule payment as you desire, including date of payment, partial or full payment, or no payment at all. No payment is made without your consent. In addition, we maintain a searchable database of your vendors, vendor contact, payment history and invoices. You can view both bills paid over a period of time, and bills awaiting payment. At the end of the year, we can prepare a CD with all of your payment history and scanned invoices alleviating the need for you to maintain paper files.

If you need to write a check outside of the ordinary course of vendor payments, simply notify your eCratchit representative via phone call or e-mail, and we will immediately cut the check for you. You may also maintain a checkbook for emergency and petty cash check writing purposes. We will provide you with processes to provide eCratchit with the transaction information.

Payroll
eCratchit is able to integrate most automatic payroll services directly into its General Ledger system. If you are not currently set up with an automatic payroll system, we will provide this service for you.

Bank Reconciliation
eCratchit reconciles the bank accounts for you on a weekly/monthly basis. A reconciliation report is available online, if you desire. By outsourcing your bank reconciliation function to eCratchit, you will provide your company with one of the most effective safeguards against employee theft.

Monthly Reports
A cornerstone of our service is providing meaningful, timely financial reports. From the secured client page of our website, clients can review a variety of standard reports such as Profit and Loss, Balance Sheets, General Ledger and Accounts Receivable and Payable Agings. In addition, eCratchit creates “Super Reports” which are specific to their business and capture the factors that drive their business. These reports provide business owners with information that is meaningful to them, prepared in a format they can readily understand.

Collection Notices
eCratchit will monitor the Accounts Receivable Aging, and automatically send “late notices” out to help expedite customer payment.

Security
128-bit SSL encryption enables our clients to verify authenticity and to securely communicate with our servers. State-of-the-art SSL encryption 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.

Privacy
eCratchit personnel will treat your financial information with the strictest of confidence, and access to your information will be limited to authorized eCratchit personnel... >more

 

 

 

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