Frequently Asked Questions

An automated accounting system exist to automate the accounts payables and accounts receivables processes that typically consume a lot of time and are repetative.   Automating accounting processes is usually executed electronically, and data is stored in cloud-based softwares versus on paper and in filing cabinets.

While we follow most industry wide standards when it comes to automated accounting, what we pride ourselves on is welcoming technology, while still maintaining human engagement.  Most automated accounting companies can execute and complete most accounting processes through a machine, but where does that leave employees?  We still believe there is a need for individuals to process invoices, however, we can now incorporate these new technologies into the employee role, allowing them to work remotely and have work-life balance.

The biggest key indicator to know if it is time for you to automate your accounting processes is if your company is still recieving paper invoices, printing manual checks, and storing paper copies in file cabinets.  Those days are coming to an end soon.  By establishing the proper automation procedures you can receive all your invoices electronically, process ACH payments (or have our third party mail out paper checks), and save all your documentation in one centralized cloud-based storage area. 

To execute all our autmation processes, Qrunch Accounting uses Bill.com to manage all client accounts.  Each client gets their own account (or multiple accounts for each business entity).  This is how we will maintain all communications with your company when it comes to all payables and receivables matters.  

When it comes to processing payables, for clients who choose to have manual checks processed, we use Harland Clarke as our third party processor. 

Our third-party software provider, Bill.com, is a cloud based, online business payments solution that is specifically developed to work with industry leading accounting software, including but not limirted to QuickBooks, QuickBooks Online, Xero, Intacct, and NetSuite.

Our company is all about saving your company annual dollars on accounting overhead expenses.  Typically, a company's biggest expense is their payroll.  

For companies looking to hire new accounting assistants this could mean hiring an individual for approx $38,000/year (avg salary).  Working with Qrunch Accounting, we take on the responsibilty of hiring employees to execute the very same duties at rates that can save your company up to 30%.  

For companies who have existing employees, but would still like to utilize our services, please ask about our Employee Partnership Program (question 6).

We have decided to structure our payables pricing based on "per invoice/per month" to create a win-win situation for all parties involved.  We took into consideration that our employees work remotely, and how could your company possibly quantify how many hours an individual works on your books without paying for a top of the line tracking systems?  With our system, our employees only get paid for work completed, which means invoices input to the system (nothing more, nothing less).
This incetifies our employees and rewards hard wokers (similar to a sales position), while ensuring your company that work is truly getting done, and you're not paying for wasted time.

At Qrunch Accounting, we value the need to keep employees secure, even through advancements in technology.  We understand that some companies are at the crossroads of needing to save money on payroll, but do not want to necessarily want to lose good employess.  

This is why we developed the Employee Partnership Program.  This program allows your current employees the option to transfer employment, should they choose to do so.  They will be assigned to your account, as a Qrunch Accouting contract employee.  Contact us for more details.

In order for any company to be successful with automated accounting processes, security has to be the TOP priority.  One of the first ways we accomplish this is by having all of our employees remotely log into our campany VPN to complete their daily work.  This allows us to control the level of protection and security from our network.  

Our third-party partner, bill.com, provides six categories of protection to help guard your money and sensitive information.

Application Protections

Bill.com helps protect against unauthorized access to your account by:

Enforcing a strong password policy

Applying 2-Factor Authentication

Sending login data over a secure channel

Automatically logging out customers after a period of inactivity

Educating our customers on the risks of business email compromise schemes

Payment Protections

Reduce risks from check theft by paying vendors with digital payments or checks that are sent by Bill.com on your behalf, rather than keeping blank check stock on your premises and exposing your bank information on checks you send.

Bill.com applies Positive Pay to reduce the risk of check fraud; the bank matches the check issued with the check presented for payment.

Keep your bank account information private from vendors by making digital payments through the Bill.com account.

Network Protections

Bill.com uses security software, intrusion detection and prevention appliances, and network monitoring technology to detect and prevent unauthorized electronic access to our servers.

Data Protections

Bill.com applies an additional level of encryption to protect access to sensitive customer data from malicious applications.

Bill.com uses Transport Layer Security (TLS) and industry standard cipher suites to protect customer data during transit over the internet.

Bill.com replicates production data from the primary site to the co-location facility for disaster recovery scenarios.

Physical Protections

Bill.com servers and network infrastructure are hosted at secure data center facilities managed by world-class certified data center providers.

All Bill.com employees undergo background checks and data security and privacy training.

Bill.com has a formal vendor management program to manage third-party risks.

Compliance Protections

Bill.com undergoes an annual SOC 1 and SOC 2 Type II Audit by a leading national CPA Firm.

Bill.com partners with a PCI certified vendor for credit card payments.

Bill.com has adopted an Anti-Money Laundering (AML)/Office of Foreign Assets Control (OFAC) Program, which is designed to prevent the Bill.com Service from being used for purposes of money laundering, terrorist financing, violating or subverting OFAC sanctions, or for other illegal purposes.

Absolutely, we strive to be flexible with your business needs.  If your company has multiple entities, locations or bank accounts, currently each entity will need to have its own account.  However, all your accounts will be managed and operated by the same team.

The on-boarding process relies heavily on each individual company's structure and demands.  Of course the more team members, vendors, clients, entities, bank accounts, and locations a business has, the more time it will need to streamline thier processes.  During on-boarding and implementation we focus on setting up your company team Roles, importing your company Data 
(which includes vedors, g/l accounts, customers, and bank account information), and completing a live Test to ensure our software is communicating with your accounting software correctly.

Your team will be essential to streamline this process. Below are the list of roles for your team members:

Qrunch Accountant

Manages the payables processes, but cannot pay bills. Primary tasks are to enter bills and syncing with your accounting system.

Approver

Reviews bills and vendor credits and authorizes them for payment.

Payer

Pays approved bills and records payments from outside of Bill.com.

Auditor (view only)

Can view all account and transaction history, but can't edit or approve anything.

Administrator

Oversees the company's use of Bill.com and has permission to access all functions.