Value Added Services

1. Daily Cash Summary. Your bank account is reconciled every working day. A list of your outstanding checks and deposits is also presented and reconciled on a daily basis so that you can make informed decisions when determining which payments to schedule or hold.
2. Liquidity Analysis. You will be able to review, in a single screen, a reconciliation of each of your bank accounts, a total of your unpaid invoices, a total of your uncollected receivables and an estimate of your future payroll commitments. In one single page you will get all the information you need to analyze your liquidity position and make day-to-day critical decisions.
3. Access Unpaid Invoices and Payee History. In your Payments module you may review an on-line list of all your open invoices segregated by each Payee. A history of past payments and invoices to each Payee may also be accessed for review and analysis.
4. Payee Information. You will be able to review detailed information about each Payee. You may access relevant information for each Payee outside the office premises and working hours, e.g. telephone numbers, facsimile numbers, e-mails, addresses, contact persons, etc.
5. Professional Services Withholding and Reporting. We keep track of the payments you make to each Payee that provides you with professional services and we compute the required withholding amount based on the applicable percentages and considering any exempt portion (e.g. the first $1,000).
6. Waiver Log. To help you stay in compliance with the Treasury Department’s regulations regarding Professional Services payments, we will maintain images of your Payee’s waivers, if any, in an electronic log.
7. Authority Levels. We allow different levels of access and authorities over your financial data. Access to AlChavo is defined by each User ID and it is divided between modules. Each modules is further subdivided by tasks. This way you may delegate certain responsibilities without losing control of the ultimate outcome. For example, your assistant may review open invoices for accuracy and propriety and make a selection of the individual invoices that should be scheduled for payment based on your common business practice. After the preliminary review and selection has been made, only you (or your designee with the proper authority level) can access the Web site to approve the final payments.
8. Automatic Scheduling of Future Payments – Fixed Amount and Frequency. You may automatically schedule a future payment for a fixed amount, following a predefined timing and frequency, e.g. monthly, weekly, etc.
9. Automatic Scheduling of Future Payments – Variable Amount and Frequency. You may automatically schedule a future payment for a recurring payment that varies in amount and frequency by setting up a maximum pre-approved recurring payment. When we receive the related invoice with the actual amount due, we will automatically schedule a payment for the maximum amount that you have authorized. Any excess amount will be set up as an open invoice and will go through the regular approval process.
10. Automatic Posting of Future Payments. You may automatically set up an Open Invoice, for a fixed amount, following a predefined timing frequency. After considering other relevant factors of running your business, you may then schedule when, how much, and from which account to pay said posted invoice.
11. Hold Payments Capability. If you have changed your mind on a particular payment, you may place it on hold until a future date.
12. Notification of New Invoices Received. Every time a new invoice is posted, we will e-mail you or your designee. This notification will maintain you informed on which new invoices have been received and posted.
13. Year-End Forms 480.6A and 480.6B for Professional Services paid. We prepare the professional services forms 480.6A and 480.6B at year’s-end, for each of your Payees, as applicable.
14. Exception Reporting. Quarterly, we will report to you, on a totally confidential basis, all payments processed by us that have been identified as having an irregularity regarding Professional Services payments or payments without images or other supporting document.
15. Free Checks. As part of our services, we cover the costs of printing and preparing your magnetic checks, which may be as high as 25 cents per check, not to mention the costs of unused, void or damaged checks.
16. Computerized Magnetic Checks. We will prepare your Payee checks from any checking account that you set-up with us. The checks have a dual informative stub, one portion for your records and another for your Payee. The informative stub includes the invoice number, amount, discount, withholding, net amount, bank name, and the check date and number.
17. Safeguarding of Checks. Your checks are created by our state-of-the-art software system that converts a security blank paper into a full magnetic check. Accordingly, you will mitigate the risk of getting your traditional pre-printed paper checks stolen, lost or inadequately used.
18. Encrypted Signatures. You may encrypt your signature into our computerized magnetic checks for immediate mailing and/or to save time when dealing with a large volume of payments, e.g. large number of employees, etc.
19. Paperless Office. We may receive your invoices directly into our P.O. Box for immediate processing. Once documents are scanned into our system they are returned back to you for future reference, if needed. They are delivered in a sealed envelope, with an attached list of the documents included. By having the images readily available in our Web site, you need not file each invoice in a hanging folder for each Payee, saving both office space and valuable time.
20. Images of Invoices. Once we receive your paper bills and invoices directly from you or by mail, they are scanned and placed in your site for review and easy future reference. In addition, you may download the image and send it to a third party, if needed.
21. CD ROM. At year-end, we prepare an organized and indexed CD ROM with all the invoice and bill images we have stored for you during the course of our service. You may use this CD for easy reference into prior invoices, without having to open old cases full of useless papers. In addition, the CD ROM will include the images of the waivers issued by the Treasury Department for those Professional Services Payees who presented them so as to reduce their withholding percentage.
22. Coordinating Electronic Payments. In order to process an electronic payment to a Payee, said Payee must first consent to receive your payment electronically. We assist you in coordinating said efforts.
23. Electronic Addenda Records. You may pay your Payees electronically or by check. We may include an Addenda record with each electronic payment. Addenda records are used to electronically transmit a message together with the related payment, e.g. invoice number, discount amount, etc.
24. Mailing of Payments. If your signature is encrypted on the Payee checks, we can prepare and mail them for you.
25. Access to Uncollected Invoices. You may view all your outstanding uncollected invoices from each and every customer separately. You may review scanned images of invoices sent and you may also access your Customer’s history of transactions for review and analysis.
    
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26. Follow Up on Uncollected Receivables. You may request us to follow-up on your uncollected invoices, saving you time and shame. In addition, you may review a history of prior follow-ups requested to said Customer, in order to analyze trends and prior results and comments.
27. Customer History. We maintain and present an on-line history of transactions for each Customer, in order for you to review and analyze trends. With this kind of timely information, you may review customer tendencies and, if required, decide on credit terms.
28. Customer Information. We maintain and present detailed information about each Customer. You may access relevant information of each Customer outside the office premises and working hours, e.g. telephone numbers, facsimile numbers, e-mails, addresses, contact persons, etc.
29. Detailed Deposits. You will be able to segregate, each deposit made by Customer and Invoice collected, for future reference and analysis of tendencies and projections. You may also use these records to generate an Invoice register and monitor major accounts and uncollected receivables.
30. Process Payroll. Processing your payroll has never been so easy and efficient. It is as simple as entering the Payroll Period End date and entering the number of hours worked per employee in your Payroll module.
31. Controlled Payroll Process. Although we compute each employees’ compensation, withholdings and deductions for each payroll, we do not send any Direct Deposit file or print any paper check until you have reviewed a complete summary of the payroll to be paid, and we have received your explicit authorization to process it.
32. Employee Compensation. We compute your employees’ wages on each payroll for accurate compensation. We accurately process and compute compensation for both, hourly or salaried employees.
33. Payroll Withholdings and Deductions. We compute your employees’ withholdings and deductions, in compliance with applicable laws and regulations. We also prepare or post the timely regulatory deposits.
34. Employee Vacation and Sick Days. We maintain a history of vacations and sick days taken by each employee, allowing you to track tendencies and make informed decisions when approving vacation schedules and raises.
35. Free Payroll Checks. We prepare specially designed payroll checks, which include all current and YTD information as to compensation, deductions and withholdings for each employee.
36. Employee Personnel Information. We maintain and present detailed information about each Employee. You may access relevant information of each employee outside the office premises and working hours, e.g. telephone numbers, facsimile numbers, e-mails, addresses, etc.
37. Employee Year-to-Date History. We maintain and present a history of prior transactions for each Employee, in order for you to review and analyze trends.
38. Multiple Frequencies. You may set-up and process multiple payrolls at the same time, e.g. a biweekly payroll for executives and a weekly payroll for hourly employees.
39. Payroll Checks Signature Sheet. We prepare a sign-off sheet for your employees to sign when they receive their payroll checks.
40. W-2 Forms. We prepare the employees’ W-2s at years-end. Please feel free to rest and enjoy your Holidays.
41. W-3 Forms. We prepare the employers’ W-3s at years-end, don’t waste one minute on administrative tasks, we will gladly do it for you!
42. Department of Labor Forms. We prepare your Quarterly Returns for Disability and Unemployment Insurance and we will compute and process the required payment.
43. Internal Revenue Service Forms. We prepare your annual Federal Unemployment Tax Form (FUTA) and your Quarterly Social Security Forms, to keep you in compliance with both local and Federal labor laws. We will also compute, post and process the payment for you.
44. P.R. Treasury Department ("Hacienda") Forms. We prepare and sign, as qualified and trained specialists, your Quarterly Informative PR Tax Return.
45. Direct Deposit ACH Files. We create and transmit your payroll Direct Deposit electronic file, saving you and your employees both time and money.
46. Direct Deposit Pay Stubs. We print your Direct Deposit stubs for each employee. Each stub includes the current and Year-to-Date payment and withholding information. By distributing pay stubs, any errors are immediately detected.
47. Direct Deposit Contracts. We assist you in completing the contracts and forms required by your banks for transmitting ACH and EDI files.
48. Direct Deposit Pre-notifications. We send to your bank the required pre-notification for those employees that request a Direct Deposit payment or their wages and compensation for the first time. We further provide you with the Forms that each employee must sign in order to receive their compensation through Direct Deposit.
49. Balance Sheet. We prepare a monthly Balance Sheet, for you to download, review and forward to a third party if deemed necessary. Your Balance Sheet will help you to analyze your financial situation in a given point in time.
50. Income Statement. We prepare a monthly income statement, for you to download, review and forward to a third party, if deemed necessary. Your Income Statement will help you analyze where to cut costs, increase revenues and project cash flows.
    
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51. Aging Reports. We prepare a monthly Accounts Payable Aging Report and Accounts Receivable Aging Report, for you to download, review and forward to a third party, if deemed necessary. These reports will help you analyze on a timely basis, past due transactions that may require special attention.
52. Registers. We prepare a monthly Check Register, an Invoice Register and a Payroll Register, for you to download, review and analyze.
53. General Ledger. We prepare a monthly General Ledger, for you to download, review and analyze. This Ledger contains a brief description of all transactions that affected each account within your financial statements.
54. General Journal. We prepare on a monthly basis a General Journal, for you to download, review and analyze. Said Journal includes each and all month-end entries recorded in your financial reports that were not originated by any other Module.
55. Modifiable Financial Reports. The financial reports we prepare can be easily downloaded from the Web site for quick modifications, as deemed necessary. Modifications in presentation are sometimes needed for standardized bank forms, special returns or parent company reporting packages.
56. Customer Service. Our Customer Service Department has been specially set-up and designed to help and assist you in anything that you need regarding your day-to-day finances. You will have a workforce of talent at your disposal!!
57. Microsoft SQL 7 Database. We maintain your financial data in Microsoft’s SQL 7 database software, the most reliable and secured data management system in the market. By maintaining your financial data in a powerful data management software, you will be ready for more complex and scalable systems when your growth demands it, or when you require specialized reports.
58. Secured Connection. We maintain a Secure Socket Layer to ensure that all communication, back and forth, is secure and encrypted. This proven technology is now used by the top 40 e-commerce sites, ALL of the Fortune 500 companies with a Web presence, and thousands of other leading sites.
59. Password Security. We enforce a Password Security System that controls all access to your financial data.
60. Three Strikes You’re Out. Our Password Security System includes a special security feature, that after three unsuccessful login attempts, the system automatically locks and invalidates the User ID, until an authorized person contacts us and activates it again.
61. On-line New Password. If for any special reason your password gets lost, stolen or public, you may immediately change it, through our Web site.
62. Confirmation of Transactions. We send you an e-mail confirmation of all critical transactions and/or instructions authorized by you or your designee, through our Web site. The confirmation gives you immediate pro-active feedback.
63. User Logs. We maintain a record of each User that has logged on to our system, including the pages he (she) visited. The user log is a critical control factor to determine accountability.
64. Daily Back-Ups. All your financial information is backed-up every working day, through the use of the most sophisticated software and equipment.
65. Insurance. We maintain a business interruption and a dishonest employee insurance policy that will cover losses that may arise due to these factors.
66. Firewalls. We have set up two top-of-the-line security "gates" or "Firewalls" that continually monitor the access of authorized users.
67. Segregation of Databases. The Front-end interface (AlChavo) database is maintained separate from the Back-end database (our accounting software). This segregation of databases and infrastructure ensures that no Web user may access your financial information through the Internet and trigger a transaction from our accounting system.
68. Contingency Plans. We have developed and currently operate a comprehensive contingency plan to guarantee the continuity of our services to the largest extent possible.
69. Controlled Access. Our physical facilities have a dual magnetic lock and a top of the line security software system, which control the different access doors.
70. Organized Records. We maintain your financial records organized and on-line, for easy review, access and analysis at any time, from anywhere.
71. Open and Efficient Lines of Communication. By using the pre-defined e-mail capabilities integrated into our system, we maintain open lines of communications between us. You will find these notes next to each Payee, Customer or Employee. In addition, you save time, as the e-mail that originates from our site already specifies the address, subject item, amount, description, module, etc. Finally, by communicating through this pre-defined method, the risk of miscommunications decreases significantly.
72. Data Entry Time. We will save you and your employees’ time by performing all the required data entry for all your Customers, Payees and Employees. You may then add or edit on-line, any information entered by us, should you deem it necessary from time to time.
73. Bilingual. We have dynamically programmed this web site both in English and in Spanish so that all your employees may use it, based on their preferred language.
74. You Retain Full Control. Through our services, you may outsource your non-core business functions without losing control over your business. No critical transactions are performed on your behalf, prior to obtaining authorization.
75. Easy. You will find that our Web site is very easy to follow and understand.
    
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76. Help Index. Each page in our Web site is linked to a descriptive Help index that will help you understand the nature and processes involved in each screen.
77. Fast. We have designed our pages and screens acknowledging that one of your most precious assets is your time, thus our service must be fast and efficient. All our pages were programmed to load in 10 seconds or less.
78. Reliable. Our Customer Service department and Technological infrastructure has been designed to assure that our service is completely reliable.
79. Navigation Links. You may easily access each module from any other module by using descriptive icons and links that will help you navigate directly to the other screens where you want to be.
80. Complement Bank Informative Services. We complement your bank’s on-line or dial-up services by providing a reconciliation of your bank balance with your real disposable balance, e.g. after substracting your outstanding checks.
81. E-mail Notification. We also complement your bank’s on-line or dial-up services by sending you an e-mail with the daily transactions that cleared the bank. By providing this proactive service, you may receive e-mails over your cellular phone or at your electronic organizer and review any returned deposits or overdraft balances before your Payees and/or bank officials contact you. We will also send you a summary of your daily reconciliation.
82. ACH and EDI Files. We further complement your bank’s services by generating your Direct Deposit (ACH) files and electronic payment (EDI) files for you. Otherwise, you would have to manually enter the required information every time you need to process one of these payments.
83. Latest Version. Every time you log on to our Web site you will find the latest version of our system. You will never have to worry about installing the latest version or paying maintenance contracts on your current one.
84. Free Access. Our interactive Web site is totally free. There are no monthly fees, licensing fees or maintenance costs related to our services.
85. Module Administrator. A confirmation of all critical information processed by us is sent to you. However, realizing the fact that you may want to delegate some of the responsibilities to trusted employees, you may set up other employees as the Module Administrator. The Module Administrator is our primary liaison between you and us in that particular module.
86. No Sick or Vacation Days. We don’t get sick or take vacations, thus you don’t need to realize administrative tasks when one of your employees is out, or incur in the cost of training another employee to cover the open tasks.
87. No Quitting or Resigning. We don’t resign or quit, thus you will never get stuck with a lot of unfinished work and with the burden of hiring and training a new employee.
88. No Motivation Problems. You don’t need to motivate us. We are in the service industry. Our goal is to give you the best possible service we can.
89. No Bonuses or Benefits. You don’t need to pay us benefits, Christmas bonus, sick days, vacation days, etc.
90. No Training Costs. Neither you nor your employees need training in learning how to use our system.
91. Reduce Headcount. The services we offer could definitely save you at least one or two employees on your current headcount. When you add up benefits, training costs, turnover, taxes, etc., you will note that reducing your head count is always an efficient solution to increasing profitability.
92. Experienced and Trained Staff. When you outsource your non-core critical functions to us, you will obtain immediate access to experienced and trained staff.
93. Free Delivery. Although our services can be provided completely on-line, we will visit your premises, once a week, for delivery and pick-up of relevant documents (limited to the Metro area, as defined).
94. Leaders in Accounting Outsourcing. We are the leaders of the new trend to outsource accounting functions over the Internet. In fact, we are not aware of any other serious organization that is offering such a complete set of services to fulfill your non-core financial functions. Having studied the fastest and most effective way to handle common day-to-day business processes and needs and having designed, programmed and implemented the most effective technology, you can rest assure that with our service your business is operating with the highest possible efficiency .
95. 24 hours a day, 7 days a week. You can access, review and analyze your financial information 24 hours a day and 7 days a week. You may also schedule payments, access a telephone number or address, pay an employee, and follow up on a past due account, all within the comfort of your home or wherever you may be.
96. On-line Access to Third Parties. By having all your information on-line, you may assign a User ID to your trusted CPA, attorneys, credit officer, or any other consultant that may, from time to time, need to review your financial reports. You will of course save traveling time, delivery costs, etc.
97. Robust Back End Software. Our powerful client server accounting software allows us to segregate your business by departments, has built-in capabilities for handling multi-currency transactions and job costing accounting, among many other features.
98. Pre-negotiated Preferential Rates. We offer to our clients pre-negotiated deals with affiliated banks for processing electronic payments that are substantially lower than regular per transaction rates. In addition, banks generally  require that you pay an installation fee plus a monthly maintenance fee, whether you use the software or not.
99. Maximize CPA Fees. Since all your records are organized for your audit, review or compilation at years-end, your CPA can focus more time on consulting services and value added suggestions for improvement. The better your records are organized, the less time your CPA will spend reviewing them, which ultimately translates into lower costs for you.
100. Cost. Our fees are so reasonable when compared to the Value Added Services we provide, that even the fees you pay for our services are considered a benefit to your business. For additional details please refer to our Fee Structure section.
     
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Cost

Please refer to value reason number 100.