Outsourcing provider Xpitax has added accounting services for clients, including bookkeeping and write-up solutions, work paper conversion, and year-end accounting work and financial analysis, to its offerings.
Xpitax previously provided outsourcing and workflow processes for individual, corporate, partnership and trust tax return preparation.
"We started to expand our services to provide end-to-end solutions for CPA firms. By providing just 1040 outsourcing capabilities, we only solved half the problem," said president Glen Keenan. "The new services allow firms to have greater efficiency, smoother workflow processes and helps them remain competitive by freeing up their time to expand services into new areas."
Xpitax's bookkeeping and write-up service uses a scanner and Internet connection to make clients' bookkeeping and accounting more cost effective. Xpitax's bookkeeper will record client data into the general ledger, make adjusting entries, and prepare and complete financial statements and tax returns.
Xpitax also offers audit and trial balance conversions and an annual/quarterly roll-forward service using CCH's ProSystem fx Engagement. Xpitax will convert all client files and financial statements from existing trial applications to ProSystem fx Engagement, and can help at year-end by rolling over the binder and performing all pre-field work procedures within the software engagement binder.
According to Keenan, Xpitax expects 40 percent of its existing customer base to adopt the new outsourcing services. The outsourced bookkeeping services start at $15 an hour, while the outsourced audit conversion is $200 per engagement, $175 per annual roll-forward engagement, and $125 per quarterly roll-forward engagement. The outsourced financial analysis reports are $250 per engagement for annual reports and $100 per engagement for quarterly reports.
