About Newtek's Outsourced Digital Bookkeeping
Newtek provides outsourced digital bookkeeping and financial information management solutions to small and medium-sized businesses. By outsourcing your business's bookkeeping function you can enjoy a higher level of bookkeeping expertise at a fraction of the cost of in-house staff.
Using our proprietary Newtek Financial Suites™ digital web portal, you gain 24/7/365 secure access to your financial books and records. Invoices, statements and other information are simply faxed, scanned or mailed to us for processing and financial statement preparation. Our system provides you with the tools required to reduce financial and operational expenses while also providing timely and accurate financial recordkeeping and reporting.
Products & Services
Our state-of-the-art web-based system provides business owners and financial professionals with the tools needed to reduce financial and operational expenses while also providing timely and accurate financial recordkeeping and reporting.
From basic accounting needs, to helping an individual or small business digitize their paper documents, we have the solution:
Outsourced Services
Bookkeeper in a Digital Box™
Provides basic financial record keeping and financial statements to the small business owner starting at less than $225 per month. Includes our Newtek Financial Suites™ and eCabinet™ solutions.
Our Bookkeeper in a Digital Box™ service is designed for companies wanting to outsource most or all of their company's bookkeeping function. This service is particularly useful for companies that need a bookkeeper or have a traditional bookkeeper but want to enhance or replace that position at a lower cost. Via our proprietary Newtek Financial Suites™ digital web portal, our customers gain 24/7/365 secure access to their financial books and records. Our clients either fax, scan or mail invoices, statements, and other information to Newtek for processing and financial statement preparation
Our Bookkeeper in a Digital Box™ solution offers the following features to the small and medium sized business owner:
- Transactional processing, bill paying and financial record-keeping
- Quarterly or monthly financial reporting (balance sheet, income statement, cash flow, accounts payable and receivable aging reports)
- Online 24/7/365 secure web access via our proprietary Newtek Financial Suites™ digital web portal
- Payroll integration
- Bank account reconciliation
- Fax, scan or mail invoices, statements, and other information to Newtek for entry into Newtek Financial Suites™
Recordkeeper in a Digital Box™
Newtek's Recordkeeper in a Digital Box™ is the service offering which is included with our "eCab™", a state-of-the-art web-based software platform designed to provide a highly secure, efficient manner to store all of your important documents.Unlike other records storage solutions, our offering is an integral part of our Newtek Financial Suites™ Internet software platform. Your electronic file cabinet comes complete with a messaging center to permit you to communicate with our staff. Have a "how to" question? Just ask. No need to drop everything to write an e-mail- our messaging center is right there!
Have a whole room full of paper files? Several rooms? No problem. Our Recordkeeper in a Digital Box™ team will assist you by preparing a quote for scanning and uploading of all your files.
We are big on technology, but not at the expense of old fashioned customer service. The small business owner now has a full records department without the associated cost.
From now on, you will have "at your fingertips 24/7/365" access to all those documents from anywhere that you have Internet access. Traveling on business? Your documents are always with you!
As an integral part of our Newtek Financial Suites™ platform, our proprietary software is helping small and medium sized business raise their data storage and security to the level previously seen only with very large companies. In fact, many employees are saving their personal files as well since our eCab is available for less than $20 per month- with full customer support by our Recordkeeper in a Digital Box™ staff.
Fractional Controller
Our Fractional Controller™ service is designed for companies interested in obtaining financial oversight and structure, or enhancing their existing financial team but cannot afford these skills on a full time basis. Newtek works with the client's staff to ensure that all required systems and procedures are properly established and implemented, as well as to ensure that financial records are accurately maintained.Our Fractional Controller™ service provides our clients with the assurance and comfort of knowing that a second set of eyes is overseeing their financial records maintenance and reporting, all at an affordable, flat monthly fee. This service does not necessarily replace your existing bookkeeping staff. It merely supplements what they do and frees their time to focus more on the day-to-day financial and administrative processing functions. Newtek works with each client to provide the requisite guidance, teaching, support and expertise unique to each client's needs.
On average, a Controller earns between $50,000 and $85,000+ per year. By utilizing our Fractional Controller™ service, our clients save a substantial amount of money, yet still acquire the skills and expertise needed to grow and operate their businesses.
Newtek Financial Suites™
Integrated bookkeeping and document management system to manage, process and track accounts receivable, accounts payable, invoices and related documents. Ideal for CPAs and bookkeepers who would rather do the work themselves, but in a more efficient manner. Includes our eCabinet™ solution.
Newtek Financial Suites™ is a state-of-the-art web-based software system which provides a highly secure, efficient manner for clients and bookkeepers, accountants and CPAs to interact. All transactions including billings, invoices, bank statements and cash receipts are processed and stored in a password-protected digital format allowing easy access by financial professionals and their clients. From across town to across the country, helping clients stay connected to their books and records has never been easier.
Our proprietary system is helping financial professionals better serve their client base. The same advanced system we use is now available for direct use with your clients.
Why not take advantage of our years of experience and advanced software solution to make your practice even more efficient and profitable?
Newtek Financial eCab™
Advanced digital platform which stores all of your important files and documents and provides "24/7/365" access to all those documents you always wish you had at your fingertips! For less than $5 per month, your documents will be protected from loss from fire, theft, storms, floods, etc. Very safe. Very smart. Very inexpensive...
Newtek's "eCab™" is a state-of-the-art web-based software system designed to provide a highly secure, efficient manner to store all of your important documents, invoices, statements, contracts, leases, insurance policies, tax returns and all those documents that you always seem to be looking for but can't easily find!
Ever worry what an unforeseen event like a fire, flood, or hurricane could do to you and you business? What if all those documents were destroyed? Do you have copies somewhere else? How much would it cost to get copies if you could? What impact would it have on you and your business if you were unable to get copies?
From now on, you will have "at your fingertips 24/7/365" access to all those documents from anywhere that you have Internet access. Traveling on business? Your documents are always with you!
As an integral part of our Newtek Financial Suites™ platform, our proprietary software is helping small and medium sized business raise their data storage and security to the level previously seen only with very large companies. In fact, many employees are saving their personal files as well, since our eCab™ is available for less than $5 per month- with full customer support available from our Recordkeeper in a Digital Box™ staff.
For as little as $9.95 per month, individuals and small businesses get our eCab™ solution as well as our Fax-to-eCab™ service, providing a convenient means to get your all your important documents into your private eCabinet. Accounting and records management professionals can sign up for our "Pro" versions for a little more.
What are you waiting for? Is protecting your data not worth the cost of a single fancy coffee and a muffin each month?
Frequently Asked Questions
How can Newtek help financial professionals such as bookkeepers and CPA's?
Newtek has developed a state-of-the-art we-based software system, Newtek Financial SuitesTM, which streamlines communication and clients' transactional processing of needs. The end results are greater efficiency and more productivity.
Why do I need to worry about having my paper documents in a traditional filing cabinet or drawer?
A fire, vandalism, flood or other mishap can spell disaster. The costs associated with recreating these paper files can be prohibitive, indeed, it may be impossible to do so. The answer is our eCabinetTM.
Can I access the important document in my eCab at any time?
Yes. For less than $20 per month you can have your documents stored on our password-protected secure server -- ready for viewing and printing 24/7/365. All you need is an Internet connection.
How can Newtek help me manage my business better?
We help you manage your business through interaction with your staff and management. By providing you with timely, accurate and in-depth financial reports and analyses, we help you make informed decisions.
What kinds of reports can I expect from your group?
You can expect customary reports, such as balance sheet and income statements, as well as other traditional reports based on your needs.
Does Newtek use state-of-the-art technology?
Yes. Our Newtek Financial Suites web portal uses the latest technology available. Your data resides on a secure server in a remote location. Encryption software, similar to that used for ATM machines, is employed to ensure that your data is safe and secure -- more secure than open books in an office or on a computer screen.
How do I access my financial data?
As long as you have an Internet connection, you can access your financial data, 24 hours a day, seven days a week. Your data is located on a secure-server, with 128-bit encryption. This is the same procedure and technology your bank, medical records and federal agencies use to access and process information. It is secure and it is dependable -- with 100% backup running in real time.
Will I lose control of my business if I outsource?
You never lose control of your business. In fact, you increase control because you can now make sound business decisions based on accurate and timely financial data.
Is my data secured over the Internet?
The technology we use utilizes encryption technologies that provide the same level of security as those used by ATM machines, and your data resides on secure servers in remote locations. Our system also uses redundant capabilities, off-site storage and sophisticated firewalls designed to prevent unauthorized access. We have a robust system that, while no system, guarantees 100% security, we are confident that our system has sufficient built-in controls to fairly and reasonably guarantee the security of your data.
Who decides when bills are paid?
You do. You have full control of how and when to pay bills. Our team records the transactions, and provides you with a report of all open invoices, and payments are only made with your authorization.
Will I have to make personnel changes?
It depends -- some companies assign their entire back office operations and redeploy some or all of their personnel to other areas of operations; others assign certain specific functions to us and we complement their in-house.
Do you replace my software and my current books?
In some ways we will recommend that you upgrade your software with the latest current edition of your current software. Sometimes we recommend new software -- it depends on your needs. We exclusively use QuickBooks software from Intuit, but can arrange to convert your data from other popular software formats.
Where are my cost savings?
The cost savings derive from the ability to replace an overhead cost center at a lower cost while at the same time acquiring the expertise of cross-trained financial professionals. Further, by using our services, you eliminate the time and costs associated with hiring and training of personnel to perform the functions that would be assigned to Newtek.
Can you provide other types of services?
It will depend on the type of services. Newtek has alliances with other professional independent firms, which it uses periodically to supplement its resources.
Do you also use payroll?
Our experience has shown that third party providers specializing in this function handle this task more efficiently and economically. Our staff will coordinate the transmittal of payroll data (federal and state withholding information, time sheets, etc.) to the payroll service company. We also make sure that all paychecks are properly posted, payroll taxes are paid on time and federal, state, and local tax reports filed when due.
What types of companies use your service?
We provide services to companies from several industries. Current clients include companies involved in the following industries:
- CPA Firms
- Information Technology / Web Hosting
- Business Consulting
- Restaurants
- Marketing Firms/Media
- Not-For-Profits
- Religious Organizations
- Doctor's Offices
- Internet Based Businesses
- Flower Shops
- Online Information Directory Providers
- Chambers of Commerce
- Pet Stores
- Engineering Firms
- Manufacturing Companies
- Professional Associations
- and others...
Why outsource to Newtek?
Outsource to Newtek because:
- Outsource non-core bookkeeping function
- Enjoy a higher level of bookkeeping expertise at a fraction of your current cost
- Improve your ability to make timely business decisions
- Enhance your chances of getting approved for a loan
- Receive standardized financial reports across all of your franchisees
- Reduce your tax liabilities by ensuring that all financial transactions are appropriately booked
- Sell your business for a desirable price by demonstrating a neat and accurate historical financial record
- Alleviate the stress associated with regulatory compliance
- Eliminate the impact of employee turnover
How can Newtek help me get a loan?
Maintaining a complete and accurate record of your company's financial status is the foundation to being approved for a loan.
