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KPO (Knowledge Process Outsourcing) Blog - Discuss KPO,Get latest updates on KPO, KPO in India, KPO in USA, Why Outsourcing to India?,Outsource Financial Services, Bookkeeping Services, Payroll Services, Accounting Services, Tax Preparation Services,Financial Analysis, Payroll Processing Services,outsource call center,outsource web development india,outsource medical billing,outsource email,cost involved in an outsource agreement,legal outsource,airline warehouse outsource etc to India

Monday, September 15, 2008

US Tax return preparation series

The trend of outsourcing preparation of income tax returns overseas, particularly to India, began about five years ago and shows no signs of abating. Its popularity has grown as tax practitioners have come to appreciate its advantages

Outsourcing tax preparation services offshore, particularly to India, began about five years ago and has grown at a phenomenal rate. Its popularity has grown as tax practitioners have come to appreciate its advantages. The tax return outsourcing business has dramatically changed and expanded beyond the client to tax preparers and now, to back-office outsource processing. More and more CPA and accounting firms are opting to outsourcing tax return to India to help minimize operating costs and maximize efficiency and gain competitve advantages.
Poupular tax return outsourcing services using leading tax software like Lacerte, Creative Solutions, ProSeries, Drake, ATX, Pro Systems or any other tax software that you work with. Tax Compliance during the busy season becomes easy to manage with our backoffice tax support
Basics about US Taxation

Overview of 1040

Who needs to file a 1040 ?

Following persons may need to file a Federal Income tax return if:

•Citizen or resident alien or elects to be treated as a resident alien of US.
•Resident of Puerto Rico .
•A non-resident alien with income from US sources.

When and where to file a return?

When a person has a gross income of taxable nature and has taxes withheld he needs to file a tax return.
Filing Deadline: The returns needs to be filed by the 15th day of the 4th month after the tax year ends.
For 2008 tax year we need to file the return by 15th April 2009.
An automatic extension for filing the return is available (Oct 15th).Form 4868 needs to be filed.

Filing Status

There are 5 types of Filing Status available:

•Single
•Married Filing Jointly
•Married Filing Separately
•Head of Household
•Qualifying Widow(er) with dependent child

Dependents

A Person Can be claimed as a “Dependent” if he meets following 5 tests:

•Joint Return Test
•Relationship Test
•Citizenship Test
•Gross Income Test
•Support Test

Benefits of Claiming Dependents

Taxpayer is eligible to claim maximum personal exemption of $3,400 each for 2007 as a deduction from the Taxable Income.
Certain credits are available with respect to the Dependents.
Form 1040

Income
(-) Adjustments to Income
= Adjusted Gross Income (AGI)
(-) Deductions
= Taxable Income
Multiplied by Tax rate equals Tax Liability

The form is divided into following parts:

1.Personal Information
2.Income Section
3 Adjusted Gross Income
4.Taxes and Credits
5.Other Taxes
6.Payments
7.Signatures.

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Monday, September 8, 2008

Quickbooks training in india

Bookkeeping is a growing profession - it is demanding, exciting, challenging and above all, rewarding. It is about understanding how a business works and then providing accurate figures that enable the business to know exactly how well it is doing. For men and women of all ages and from all backgrounds it provides an outstanding career opportunity.
Bookkeepers become accountants and inventory control experts at a higher rate than any other profession. Those who leave the record-keeping industry altogether use their bookkeeping skills to understand various tasks within an industry, then move to positions of managerial control. The people who take this route, however, usually supplement their bookkeeping skills with business courses, seminars, or second positions where they can demonstrate their management ability.
There is only one company in India specifically in Bangalore (Silicon valley of India) cosmic IT services Pvt. Ltd. which is providing training in Quickbooks from 2002 and they are the pioneers in this area.
Cosmic has been providing corporate and individuals QuickBooks training for over 5 years. Our philosophy is to provide "Quality training at affordable rates". Cosmic unlike any other training institute provides you with hands on experience
Cosmic Training, an ISO 9001:2000 certified accounting training firm and, has provided accounting and bookkeeping training since 2002. Cosmic offers training courses to students throughout the India.
This training is dedicated to providing you with a flexible, high-performance learning system. This dedication has resulted in a unique and progressive training method. Unlike other training methods that focus on theory or high-tech training products that overwhelm you, this training method provides a simple approach to learning QuickBooks software. If you are using the software for the first time, you will be introduced to its primary features. If you are familiar with the software, you will quickly learn the new features and functionality of this version. Regardless of your skill level, you will learn with the greatest of ease.
Cosmic is also a local partner of 8020 Accounting Systems LLC, USA and provides QuickBooks training in India. After the techies, it is now the turn of the finance professionals to strike it big in KPO. Also for those who are migrating to US or any US based companies having branches in India needs to maintain their books of accounts in QuickBooks. Our training program equips them best.
They offer 3 types of training :
Training schedule - 3 days
Lesson 1: Setting Up a CompanyTopic 1A: Creating a QuickBooks CompanyTopic 1B: Using the Chart of AccountsTopic 1C: Entering Account Opening Balances

Lesson 2: Invoicing for ServicesTopic 2A: Setting Up a Service ItemTopic 2B: Changing the Invoice FormatTopic 2C: Creating a Service InvoiceTopic 2D: Entering Statement ChargesTopic 2E: Creating Billing Statements

Lesson 3: Processing PaymentsTopic 3A: Receiving Payments for InvoicesTopic3B: Making DepositsTopic 3C: Printing Statements

Lesson 4: Working with Bank AccountsTopic 4A: Writing a QuickBooks CheckTopic 4B: Using Bank Account RegistersTopic 4C: Entering a Handwritten CheckTopic 4D: Transferring Funds between AccountsTopic 4E: Reconciling Checking Accounts

Lesson 5: Entering and Paying BillsTopic 5A: Handling ExpensesTopic 5B: Using QuickBooks for Accounts PayableTopic 5C: Entering BillsTopic 5D: Paying Bills
Training schedule - 5 days
Lesson 1: Getting StartedTopic 1A: Starting QuickBooksTopic 1B: Identifying Components of the QuickBooks Operating EnvironmentTopic 1C: Opening QuickBooks CentersTopic 1D: Opening Other QuickBooks WindowsTopic 1E: Identifying Common Business TermsTopic 1F: Setting Up QuickBooks in Multi-User ModeTopic 1G: Exiting QuickBooks

Lesson 2: Setting Up a CompanyTopic 2A: Creating a QuickBooks CompanyTopic 2B: Using the Chart of AccountsTopic 2C: Entering Account Opening Balances

Lesson 3: Working with ListsTopic 3A: Creating Company ListsTopic 3B: Working with the Customers & Jobs ListTopic 3C: Working with the Employees ListTopic 3D: Working with the Vendors ListTopic 3E: Adding Customized FieldsTopic 3F: Managing Lists

Lesson 4: Invoicing for ServicesTopic 4A: Setting Up a Service ItemTopic 4B: Changing the Invoice FormatTopic 4C: Creating a Service InvoiceTopic 4D: Entering Statement ChargesTopic 4E: Creating Billing Statements

Lesson 5: Processing PaymentsTopic 5A: Receiving Payments for InvoicesTopic 5B: Making DepositsTopic 5C: Printing Statements

Lesson 6: Working with Bank AccountsTopic 6A: Writing a QuickBooks CheckTopic 6B: Using Bank Account RegistersTopic 6C: Entering a Handwritten CheckTopic 6D: Transferring Funds Between AccountsTopic 6E: Reconciling Checking Accounts

Lesson 7: Entering and Paying BillsTopic 7A: Handling ExpensesTopic 7B: Using QuickBooks for Accounts PayableTopic 7C: Entering BillsTopic 7D: Paying Bills
Training schedule - 10 days
Lesson 1: Getting StartedTopic 1A: Starting QuickBooksTopic 1B: Identifying Components of the QuickBooks Operating EnvironmentTopic 1C: Opening QuickBooks CentersTopic 1D: Opening Other QuickBooks WindowsTopic 1E: Identifying Common Business TermsTopic 1F: Setting Up QuickBooks in Multi-User ModeTopic 1G: Exiting QuickBooks

Lesson 2: Setting Up a CompanyTopic 2A: Creating a QuickBooks CompanyTopic 2B: Using the Chart of AccountsTopic 2C: Entering Account Opening Balances

Lesson 3: Working with ListsTopic 3A: Creating Company ListsTopic 3B: Working with the Customers & Jobs ListTopic 3C: Working with the Employees ListTopic 3D: Working with the Vendors ListTopic 3E: Adding Customized FieldsTopic 3F: Managing Lists

Lesson 4: Setting Up InventoryTopic 4A: Entering Products into InventoryTopic 4B: Ordering ProductsTopic 4C: Receiving InventoryTopic 4D: Paying for InventoryTopic 4E: Manually Adjusting Inventory

Lesson 5: Selling Your ProductTopic 5A: Creating Product InvoicesTopic 5B: Making Cash Sales
Lesson 6: Invoicing for ServicesTopic 6A: Setting Up a Service ItemTopic 6B: Changing the Invoice FormatTopic 6C: Creating a Service InvoiceTopic 6D: Entering Statement ChargesTopic 6E: Creating Billing Statements

Lesson 7: Processing PaymentsTopic 7A: Receiving Payments for InvoicesTopic 7B: Making DepositsTopic 7C: Printing Statements

Lesson 8: Working with Bank AccountsTopic 8A: Writing a QuickBooks CheckTopic 8B: Using Bank Account RegistersTopic 8C: Entering a Handwritten CheckTopic 8D: Transferring Funds Between AccountsTopic 8E: Reconciling Checking Accounts

Lesson 9: Entering and Paying BillsTopic 9A: Handling ExpensesTopic 9B: Using QuickBooks for Accounts PayableTopic 9C: Entering BillsTopic 9D: Paying Bills
Appendix A: Using the Easy Step InterviewTopic AA: Using the Easy Step Interview
Appendix B: Using Online BankingTopic BA: Setting Up an Internet ConnectionTopic BB: Activating AccountsTopic BC: Reading Online StatementsTopic BD: Creating Online PaymentsTopic BE: Transferring Funds OnlineTopic BF: Canceling Online PaymentsTopic BG: Sending E-mail to Your Financial Institution

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Thursday, September 4, 2008

Obama still playing anti-outsourcing card

Continuing to play the anti-outsourcing card, Democrat presidential front-runner Barack Obama said on Wednesday while America cannot "shy away" from globalisation, it would have to take measures to ensure that jobs are not shipped overseas.

"We have to stop providing tax breaks for companies that are shipping jobs overseas and give those tax breaks to companies that are investing here in the United Statpes of America," Obama said in during a debate with rival Senator Hillary Clinton in Ohio, Cleaveland.

The Illinois Senator, playing to the gallery of those workers who have been displaced in manufacturing jobs as a result of the North American Free Trade Agreement (NAFTA) and generally to the anti-outsourcing crowd, said he would ensure that every pact the US signs has environmental, safety and labour standards to protect workers and consumers alike.

"We can't have toys with lead paint in them that our children are playing with. We can't have medicines that are actually making people more sick instead of better because they're produced overseas," Obama said.

At the same time, he said, Americans cannot "shy away" from globalisation. "We can't draw a moat around us." "The problem is we've been negotiating just looking at corporate profits and what's good for multinationals," the African-American Senator said adding, "as President, what I want to be is an advocate on behalf of workers".

Facing the heat from US presidential hopefuls who blamed "shipping jobs" to China and India for rising US unemployment, the India Inc had last week launched a counter-offensive here through the media, telling Americans that the industry is creating new work opportunities for them.

Obama and Clinton were at a 90-minute debate in Cleveland a week ahead of a critical group of primaries -- an event that was devoid of any major fireworks but a mere reiteration of stated positions on issues as universal health care and Iraq.

Speaking about NAFTA, the trade pact with Canada and Mexico that is seen as unpopular with the workers, Obama said Clinton's views on the issue were not consistent.

"I think that it is inaccurate for Senator Clinton to say that she's always opposed NAFTA. In her campaign for Senate, she said that NAFTA, on balance, had been good for New York and good for America. I disagree with that...Now, I think that Senator Clinton has shifted positions on this." Clinton, on her part, said "I have said I would renegotiate NAFTA...I will say to Mexico that we will opt out of NAFTA unless we renegotiate it."

On the Iraq war, both the Democrats slammed President George W Bush's record and restated long-held disagreements over which of them was more opposed to the invasion.
Clinton also said as far as she knew her campaign had nothing to do with circulating a photograph of Obama wearing a white turban and a robe during a 2006 visit to Kenya which appeared on the internet.

"We have no evidence where it came from," Clinton maintained.
"I take Senator Clinton at her word that she knew nothing about the photo," Obama said. ...

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Thursday, August 21, 2008

Outsource help desk

In continuation with my earlier posting on call centre services outsourcing one more important sub-category which can be added is Helpdesk services.

A growing trend in recent years has been to outsource either the help desk function individually, or the whole IT operation inclusive of the help desk. This is certainly not appropriate for all organizations, but does bring measurable benefits to some.
Obviously the major areas of benefit relate to economies of scale and the advantages of utilizing a specialist and focused provider. However, it is important that there is no illusion with respect to help desk management: ultimate responsibility for the help desk is retained. Poor help desk provision will adversely effect the help desk provider, not only the outsourcing firm.
Improve your customer service
Lower your technical support costs
Improve your business image
Reduce your management headaches
Help desk services includes
Toll-free telephone
e-Mail
FAX
Live Internet text chat
Remote control
24 hours/day X 7 days/week X 365 days/year
After-hours and Overflow
Commercial computer hardware
Commercial desktop software
Vertical or Custom application support
Bilingual (English/Spanish) support etc....

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Sunday, August 17, 2008

Examine Growth of Finance and Accounting Outsourcing Market Worldwide

DUBLIN, Ireland -- Research and Markets has announced the addition of "Business Process Outsourcing - Global Strategic Business Report" to their offering.

This report analyzes the worldwide markets for Business Process Outsourcing in Millions of US$. The major Service segments analyzed are Logistics, Sales & Marketing, Customer Care, Finance & Accounting, and Human Resource. The report provides separate comprehensive analytics for the US, Canada, Asia-Pacific, Europe and Rest of World. Annual forecasts are provided for each region for the period of 2000 through 2010. The report profiles 574 companies including many key and niche players worldwide such as Accenture, Adaptis Inc., Aegis InterWorld Inc., Affiliated Computer Systems, Amdocs, Ceridian Corporation, CGI, Convergys Corporation, Covansys, Electronic Data Systems Corp., Gevity HR, Hewitt Associates, Intelligroup, KARVY Global Services Limited, Keane, Inc., Perot Systems Corp, Sapient, Spherion Corp, StarTek, Inc., Tata Consultancy Services Limited, Intelenet, and Unisys Corporation.
Companies Mentioned Include:
--CodeThree Technologies (P) Ltd (India)
--Cognizant Technology Solutions (USA)
--Cognos, Inc (USA)
--CollectAR, Inc (Canada)
--Combine Resources (India)
--Computech Enterprise Solutions Pvt, Ltd (USA)
--Computer Consultancy Services, Inc (India)
--Conceptual Edge (India)
--Concrode Digital Technologies Pvt, Ltd (India)
--Consultants 'R' Us (India)
--Consulting Engineers Group Ltd (India)
--Continuum Systems (India)
--Convergys Corporation (USA)
--Convertz (India)
--Core BPO (India) Private Limited (India)
--Core Integrators, Inc (USA)
--Core Software Pvt, Ltd (India)
--Core, Inc (USA)
--Cosmic Internet Technologies Solutions Pvt, Ltd (India)
--Cossmoss Infotech (India)
--Covansys Corporation (USA)
--CovientCom (USA)
--CoVisible Solutions Pvt, Ltd (India)
--Creative Technology (Nepal)
--Crossdomain Solutions Pvt, Ltd (India)
--CSC Chemical And Energy Group (USA)
--Customer First Services, Inc (India)
--Customer One LLC (USA)
--Customer Line Pvt, Ltd (India)
--Cyber Futuristics India Pvt, Ltd (India)
--GoBPO (India)
--GOCustomer (India)
--Cyber Infrastructure (India)
--CybizCall International Ltd (India)
--Cygnet Infotech Pvt, Ltd (India)
--Cynosure Infotech Pvt, Ltd (India)
--Daleel International Company (Kuwait)
--Danconia FZ LLC (UAE)
--Danfa, Compsoft BPO Services Pvt, Ltd (India)
--Data Entry India (India)
--Data Infocom Limited (India)
--Data Management Systems Pvt, Ltd (India)
--Data Point Computer Services (India)
--Datamatics Technologies Ltd (India)
--DCS BPO Private Limited (India)
--Deccan Multisourcing Private Limited (India)
--Deepak Software Consultancy Pvt, Ltd (India)
--Deloitte Consulting LLP (USA)
--Destination IT Solutions (India)
--Destiny Infotek Limited (India)
--DevelopAll, Inc (USA)
--Devi Architects (India)
--Dhooran Conversion Solutions & Services (India)
--Digital Fuel Technologies, Inc (USA)

Read more...

Wednesday, August 13, 2008

Call center services outsourcing

Call center services outsourcing
Call centers can be set up to handle many types of calls they can be broadly classified into 2
  • Inbound Services - Inbound Customer Service Call Center
  • Outbound Services
Taking orders Customer service
Tech support Qualifying inbound leads Answering service/messages etc...
Need for outsourcing call centre services:

Testing and learning- Smaller companies with little experience dealing with customers may launch their phone operations as an outsourced solution. When they have learned what it takes to run a call center and built up enough capital, they can bring the operation in house. Larger companies interested in testing new technologies or programs may find it easier and cheaper to use a call center for testing than to retrain in-house employees
Significant growth- A new product launch or other major event can bring a huge volume of calls to even a small business. Outsourcing incoming calls to a service provider can eliminate the hassles of trying to ramp up dozens of new employees or investing in major equipment upgrades.Save money- When businesses reach call volumes that demand a significant capital investment, either new phone systems, customer relationship management (CRM) software, dedicated call center space, or many new employees, it can be an easy choice to outsource. Call center service providers are able to keep their costs much lower by spreading the cost of employees and technology over many customers
Business model shifts- The decision to outsource incoming call management can be triggered by a major decision, such as making the leap to 24/7 tech support. Switching to a two- or three-shift operation can be a huge problem - or as easy as going to a service provider. Another trigger can be the need to offer support in multiple languages

Call centers are often treated purely as a commodity. Avoid this trap! For many customers, the vendor you choose will be their primary point of contact with your business.
Those interactions can have a significant impact on people's perception of your company, positive or negative.

Throughout the selection process, try to keep in mind that you are not just looking for a low-cost supplier - you are looking for a call center partner who will have considerable influence over your brand and customer satisfaction.

Pricing call center services is fairly complex. The bulk of the cost is per-minute or per-hour fees for each agent or call, depending on how your contract is structured. The complexity of your script, volume of your calls, and any special services you require will also come into play. In addition, pricing can vary according to quality: call centers that employ highly skilled, experienced agents have higher costs and therefore charge higher prices.

When contracting for call center services, you can usually choose between shared or dedicated agents. Shared agents, also known as blended teams, handle calls from multiple vendors.
They may answer the phone for you one minute, and for some other company halfway around the world the next. With the right software and training, this approach works well for many common types of calls. Typically they will charge between $0.50 and $1.00 per minute.
Dedicated agents work only for you - almost like an off-site employee. By concentrating only on your calls, the agents are better able to learn your business. Pricing is per agent per hour, and can range from $10 or less for the lowest-priced offshore companies to $25 and up for larger U.S.-based firms. This gives you agents who are more knowledgeable about your company's products, but is more expensive overall.

There are many other fees to consider beyond the basic charges. Many providers enforce monthly minimums, which can drive up your costs if your volume fluctuates unpredictably. You should also expect a setup fee of up to several thousand dollars. Other costs, such as additional commissions, training, programming, and reporting fees, may be covered by your per minute or per hour charges - or may not. Make sure the provider spells out exactly what additional charges you will need to pay before signing a contract.
Contracts, metrics, and SLAs

A call center services contract needs to define more than just the contract term and pricing. It should specify exactly what standards and procedures the call center is expected to follow, how their performance will be measured, and what penalties can be applied if they fall short of the requirements.

Other contract options include exclusivity, translation services, secrecy/confidentiality, monitoring rights, and more. When creating contracts of this magnitude, almost anything is negotiable, but remember that you will pay more for special requests.

For example, a service level agreement (SLA) usually focuses on response times, such as guaranteeing that 80% of calls will be answered within 30 seconds. Depending on the nature of your business, you may want to pay extra to get a higher percentage in less time, or you may decide to save money by setting a lower goal. Some companies do not routinely include SLAs. You can probably negotiate one with any vendor, but some feel that their standard response times are sufficient or most customers.

Contracts are typically six months to a year, with provisions to automatically renew. Some may discount their rates if you agree to a longer term contract - if you are confident in your choice of vendors, you might want to take them up on a two- or three-year term. Others may penalize you for canceling a contract within the first six months or a year, but allow you to cancel any time after that.

Call centres may be of 2 types captive unit where in companies will open their own call centre units in low cost countries and manages call centres and third party providers who will provide infrastructure,manpower,and other technology and manages the unit for their clients.
Call centre outsourcing has given raise to voice based and Internet based voice providers to facilitate call receiving and making calls to other countries and we have hosted call centre services where in we will have facility to log in to web based soft dailer, make calls, record calls, call barging for supervisor,Automatic dialing etc....

VOIP (Voice over Internet protocol) which is made legal in India has seen tremendous growth an account of call centre service outsourcing. Outsourcing call centre will provide a very good turnaround of time and 24/7 support to end customers.

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Monday, August 11, 2008

Business transcription services

Business transcription services
Transcribing recordings of meetings, conferences, seminars, focus groups, insurance interviews, police reports, etc. is a time-intensive process. Instead of struggling with difficult accents, distortions, background noises and hours of editing, save time, money and be more productive by outsourcing your business transcription requirements to an experienced company .
Business Transcription Services for Focus Groups / Interviews They transcribe your standard, micro cassette or mini cassette tapes. Transcripts can be saved to disk, transported via email and/or a hard copy created
Benefit of outsourcing business transcription services
· No cost of special equipment.
· No hourly employee downtime. Pay only for production.
· No SSI, payroll, or unemployment taxes.
· No medical insurance benefits, paid vacations, and sick leave.
Business Transcriptions for Speakers/Moderators
Business Transcriptions for Teleconferences
Business Transcription Services for Books/Manuscripts
Business Transcription Services for Police and Fire Departments
Business Transcription Services for Schools

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