The accounting process is one of the easiest business processes for a company to outsource. Many business owners already outsource their accounting/financial bookkeeping services or CPA work and now the efficiency of the Internet makes outsourcing your bookkeeping a more cost-effective business strategy. Our system was designed to provide a seamless interface between your management, accounting software (i.e. QuickBooks) and your bookkeeper and CPA. Our staff will use the same accounting processes that your company currently uses and will make adjustments only if needed to make your accounting cycle more streamlined and efficient.

The accounting system is easy to use and is one step above online banking because you can actually work in your accounting file. Our system uses top of the line security measures to maintain the integrity and confidentiality of your account. You will log in through a client portal through which you access your private home page.

Your private home page will have service announcements, file upload notifications, and messages from your bookkeeping staff. Our electronic file management system enables you to upload or download all of your accounting information and data. No need to fax or file paper copies, you can quickly download your file from your portal, and store it on your local PC, or keep it in your file cabinet on your real-time data server.

Any information that used to be transferred by diskette or email can now be transported securely through your portal. Just scan in the document, drag it to the upload-icon and select your bookkeeper with one click, the file is uploaded and your bookkeeper will be notified that you just uploaded something to their in-box. Once they have the information, they quickly enter it into your accounting program and complete their bookkeeping tasks. This system enables quick transfer of data, shortens project completion time, allows for immediate client approval or signatures, and continues to enhance the working relationship.

If you are looking for ways to reduce overhead and focus on your core business, now is the perfect time to make the switch to outsourced accounting services. Our outsourced accounting system provides you with significant savings over and above the cost of in-house staff. You save as much as 50% and gain higher quality bookkeeping, management reporting, administration and other financial functions. Even in small businesses, this reduction is in the tens of thousands.

Outsourcing Benefits

True outsourcing is an extension of your company. By choosing Telesia & Company a client gets a team of professionals along with their experience and ideas. Each Telesia & Company team member works for their client companies as if they were a part of that company. You no longer need to worry about training and maintaining your accounting staff. Our bookkeepers are trained by us and supervised by our CPA Managers. In addition, if your bookkeeper is part time employee who is only available at certain times, with Telesia & Company you will have access to your current bookkeeper during all normal business hours.

Finally, since Telesia & Company does not print checks for you (done in your office) or make deposits, you have an added layer of protection. Cash is handled in your office, but the record keeping is handled in ours.
By outsourcing bookkeeping your company will benefit in terms of:

* Reducing overhead
* Freeing up resources
* Avoiding capital expenses
* Improving efficiency
* Off-loading non-core functions
* Getting access to specialized skills
* Saving on manpower and training costs
* Reducing operating costs
* Improving speed and service
* Being reliable and innovative
* Increasing customer satisfaction
* Avoiding the cost of chasing technology

Internal Control

Internal control is a major part of managing an organization, serving as the first line of defense in safeguarding assets as well as preventing and detecting errors and fraud. Internal control should be designed to provide reasonable assurance regarding prevention of or prompt detection of unauthorized acquisition, use, or disposition of an organization's assets.

These days, business owners are continually seeking to improve accountability. From improving operational processes to implementing new technology, appropriate internal control is a key factor in minimizing problems and managing change.
Fortunately with Telesia & Company, developing an internal control program for the accounting system doesn't have to be a challenge. Our experience and background will quickly identify key areas in which controls are needed, and help implement them. Our accounting system already comes with many controls in place to ease the transfer of your accounting processes to Telesia & Company.

Fraud Prevention

Embezzlement and other kinds of financial fraud are perhaps the most common kind of employee theft. Small businesses tend to fall prey to this swindle because they don't have the controls in place to prevent it.

Telesia & Company assures that controls are in place to prevent fraud. Here are some of the ways we assist you in controlling your books.

1. We don't control any financial transactions from beginning to end. We write the checks - you sign them. You open the mail, we record receivables and reconcile accounts.
2. You send a scanned copy of the source documents keep originals, therefore we can't destroy or remove evidence of wrong doing.
3. We write the checks, you print and sign them. This way, only approved checks will be created.
4. Because you print the paychecks, you can personally review and sign each one. This enables you to verify the people receiving the checks are actually on your payroll.
5. Telesia & Company makes sure you understand your books. We help you become familiar with your company's bookkeeping and record keeping system so that you can easily review the books and make sure nothing is amiss. We help you know what to look for.

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The Sarbanes-Oxley Act of 2002 (SOX) is a critical piece of new legislation that affects how public organizations and accounting firms deal with Corporate Governance, financial disclosure and the practice of public accounting.

The SOX legislation is being implemented in a phased approach, with executive management already being impacted by Section 302 of the Act. Most audit firms today have established practices around SOX compliance and are actively working with their customers on how to comply with the next phase of the legislation. The impacts of non-compliance range from fines to jail terms, and includes the harsh reality that failure to comply will ultimately impact the organization's public image.

The next major section for legislated compliance is Section 404. Section 404 centers around the internal controls of an organization and how effective they are (in the context of how this may impact financial reporting).

Assessing the Path to Section 404 Compliance

The reality of the Sarbanes-Oxley Act is that each public company needs to develop an individualized approach to reporting and compliance. For Section 404, it begins with a self-assessment of the internal controls the organization has around its financial reporting process. This self-assessment will typically involve internal stakeholders as well as an external audit firm who will work through a standardized framework (COSO) to identify the gaps in compliance, as well as any associated risks. This framework allows audit firms to map internal control objectives back to SOX requirements, enabling organizations to then apply process frameworks, like the one described in the April 2004 National Cyber Security Partnership (NCSP)

Corporate Governance task force report entitled "Information Security Governance: A Call to Action", to address the relevant gaps for compliance. Once the assessment has been completed, organizations must then establish a process to achieve compliance within the relevant timeframe (as described in the chart above). Working with their audit firm, organizations will be looking to not only address the gaps that have been identified within the legislated timeframe, but do so in a cost-effective manner. In today's economically challenging times, compliance means a balance between both time and cost, particularly since this is not a one-time event and that there may be more far-reaching costs than simply implementing internal controls.

Entrust and Sarbanes-Oxley

Entrust security solutions can be used to help close a number of common gaps identified on the path to Sarbanes-Oxley Section 404 compliance.

Secure Identity Management

Companies that are focused on remaining productive and competitive understand that customers, partners, and employees all need deeper access to the organization, giving them what they need, at the right time. Doing this effectively and in real-time means managing a multitude of user identities and interacting with a variety of systems in an environment of constant change - all while keeping quality of service high and the enterprise secure.

The Entrust Secure Identity Management Solution is a comprehensive, highly scalable solution that helps to address key challenges faced by commercial organizations working to comply with Section 404 of the Sarbanes-Oxley Act, namely:

Identity provisioning

* quickly and securely view, change, audit and report on all user identities and access privileges across all users and organizations
* replace time-consuming, expensive and error-prone processes with secure one-step process to add users or remove them from systems
* workflow capabilities allow mandatory corporate approval processes to be enforced and audited

Policy-based access control

* enable user single sign-on (SSO) to the applications and content they are authorized to see
* easily extend access control to include Web services applications via standards such as SAML
* centrally manage access to applications and information via policy, providing a single point of policy enforcement and audit of access for all users
* apply rules, in accordance with corporate policy, to augment internal controls for Section 404 compliance, including time-specific restrictions or access control based on the location of the originator
* capitalize on an unlimited user, per-processor pricing model that enables organizations to only pay for the value that they are deploying through their portal

Strong authentication

* enable Web-based authentication using a broad range of identity types, including usernames and passwords, SAML, Microsoft Passport, and digital certificates stored on a user's computer or on a hardware smart card, token, or biometric device
* enable strong authentication in a client-server environment, helping to ensure that only strongly authenticated users are able to access sensitive information contained in encrypted files, folders and email messages

Data Protection & Integrity

Internal controls around both data access and data integrity can be enforced through the use of encryption and digital signatures, respectively. Data contained in files, folders, or email messages can be encrypted to prevent unauthorized access due to security breaches or weak access controls. That same data can be digitally signed to provide both transaction accountability and data integrity, supplying organizations not only with information on who signed the data, but also verification that it did not change from the time it was signed, regardless of whether it traveled across the Internet or was stored locally.

The Entrust Secure Data Solution consists of a comprehensive, highly scalable suite of data security products and services that help organizations mitigate the risk of data loss, corruption and disclosure so they can confidently capitalize on new technologies that enable greater stakeholder collaboration and, ultimately, business growth. It includes the following key capabilities that can help with Section 404 compliance:

* encryption of files and folders on employee workstations and theft-vulnerable laptop computers; only properly authenticated, authorized individuals can decrypt and access sensitive information
* digital signatures on data for integrity, including working with industry leaders, such as Adobe, to deliver secure electronic forms for both desktop and Web environments
* end-to-end encryption and digital signing of sensitive data during Web transactions
* developer toolkits to enable encryption and digital signature capabilities in custom applications

The Entrust Secure Messaging Solution transparently adds "end-to-end" security to email applications like Microsoft® Outlook® and Lotus Notes®, making it possible to mitigate risk and help comply with Section 404. It enables email messages to be encrypted and digitally signed both in transit and while at rest on email servers or in end-user inboxes and outboxes. This ability to secure emails can help organizations better control access to sensitive information that often times is transmitted via email.

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