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FAQs: Outsourced Subscription-Based Accounting Benefits

Outsourced Subscription-Based Accounting

Benefits of Cloud Accounting Software with MAT Support

Q: What Are the Benefits of Cloud Accounting Software with MAT Support?

  • Cloud accounting software runs on remote servers, accessible via a web-based interface.
  • Eliminates the need for customers to install, manage, and maintain hardware and software.
  • MAT manages all these functions, allowing IT personnel to focus on other tasks.
  • Our support enables easy and secure information sharing within an organization and external stakeholders, such as auditors and regulators.

Outsourced Accounting with MAT: Secure Cloud-Based Solutions

Q: What are the Advantages of Outsourcing Accounting with MAT?

  • Outsourced accounting involves shifting business processes like A/P, A/R, controllership, and virtual CFO services to an external provider.
  • Outsourced accounting utilizes secure cloud-based technologies.
  • Outsourced accounting does not imply sending business functions overseas.
  • MAT is committed to keeping all operations within the United States.

MAT Leverages Accurate Financial Data to Focus on Growth

Q: How Does Outsourcing Accounting Help Grow Businesses?

  • MAT provides accurate financial data to businesses to help them identify profitable customers and products.
  • This enables business owners to allocate resources effectively and concentrate on their company’s most successful aspects.
  • By partnering with MAT, businesses can improve efficiency and performance, leading to long-term success.

MAT Offers Additional Benefits Even if You Have a Bookkeeper

Q: Why Outsource Bookkeeping? (Even if You Already Have One)

  • MAT focuses on improving cash flow.
  • MAT proactively manages key processes like accounts payable and receivable.
  • Bookkeeping is just one aspect of the comprehensive services provided by MAT.

Mitigate and Reduce the Risk of Fraud and Embezzlement

Q: How Can Businesses Mitigate and Reduce the Risk of Fraud and Embezzlement?

  • MAT reconciles bank accounts but lacks approval rights, ensuring segregation of duties.
  • Establishing a lockbox redirects incoming checks directly to the bank, eliminating the risk of check stock embezzlement.
  • Checks issued through MAT are not in the company’s check stock, reducing the risk of fraudulent checks against the company’s bank account.

How to Manage Bills and Checks that Arrive in the Mail

Q: How Can Businesses Manage Bills and Checks that Arrive in the Mail?

  • Customers have different preferences for handling bills and checks.
  • Some scan/fax bills to the company, while others prefer a dedicated PO box managed by the company.
  • The PO box allows customers to approve bills and view scanned document images, ensuring transparency and visibility.
  • Some customers continue depositing checks, with the company having read-only access for reconciliation.
  • Others prefer the security of a lockbox, where checks are sent directly to the bank for deposit.

The Affordable is the Cost of Partnering with MAT

Q: What Does Automated Outsourced Accounting Cost?

  • MAT provides affordable accounting services at a cost savings between 25% and 50% compared to in-house staff.
  • MAT handles hiring, training, office space, and employee benefits.
  • Allows clients to focus on their business.
  • Fees are determined based on each client’s volume and complexity.
  • Fixed monthly amount for budget management.

MAT's Commitment to Security, Data Protection, and Trust

Q: How Does MAT Ensure Security, Financial Data Protection, and Client Trust?

  • MAT prioritizes physical, network, application, and data security to safeguard client information.
  • MAT’s systems guarantee 99.8% uptime, airtight data security, and disaster recovery.
  • Trustwave, DigiCert, and other certifications ensure financial data protection.
  • MAT values client trust and takes measures to protect it.

MAT's Expert Income Tax Advisory and Support for Your CPA

Q: Since MAT Does Not Replace Your CPA, What Tax Advisory and Support Do They Provide?

  • MAT helps eliminate frustrations and costs arising from inadequate bookkeeping between CPAs and clients.
  • Accurate data provided by MAT benefits accountants, enabling them to assist in wealth building and business growth while saving costs.
  • Due to constant changes, MAT recommends utilizing tax law experts for income tax advisory services.
  • MAT is a liaison between clients and tax preparers, gathering and sending necessary documents to ensure timely filing.

How MAT Helps Navigate and Works Closely with Your CPA

Q: Why is it Beneficial for Businesses to Utilize Outsourced Bookkeeping and Accounting Services Along with Their Current CPA?

  • MAT works closely with CPA firms, providing bookkeeping services that can lower the CPA’s charges.
  • If a CPA firm provides bookkeeping services to a client, it can’t review or audit that client’s financial statements.
  • Many CPA firms avoid services that could lead to conflicts of interest.

Outsource Accounting Functions to Alleviate the Hiring Need

Q: How Can Outsourcing Accounting Functions Help Alleviate the Need for Hiring?

  • Save time and money on training bookkeepers and accountants.
  • Free up business owners to focus on growth.
  • Enable decision-making based on more than just cash balance.

AICPA, American Institute of CPAs: Accounting Association

Q: What is AICPA and How Does it Relate to Accounting?

  • AICPA has over 400,000 members in 145 countries.
  • Founded in 1887, the AICPA serves the public interest.
  • It sets ethical and auditing standards for private companies, nonprofits, and governments in the United States.
  • The AICPA also develops and grades the Uniform CPA Examination.
  • It offers specialty credentials for CPAs in various areas, such as personal financial planning and forensic accounting.

Quick Implementation Timelines After Your Free Assessment

Q: How Quick is MAT’s Implementation Process After the Free Assessment?

  • A proposal with an implementation timeline can be completed in days.
  • A month is preferred to ensure accuracy and fine-tuning.
  • The duration is influenced by customer requirements, situation complexity, and size.

MAT Allows Customers to Improve Control Over Their Business

Q: How Does MAT Help Customers Maintain and Improve Control Over Their Business?

  • Customers can set up different approval levels for transactions and payments.
  • Only authorized individuals can approve certain transactions.
  • Payments to vendors only happen when the business owner releases them.
  • MAT provides the necessary information for informed decision-making.
  • Business owners have complete control over their operations.

Fact Sheets

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EMBEZZLEMENT

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Case Studies

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White Papers

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