Companies have limited time, money and resources to look after their accounting needs. Our Accounting Services are designed to make it faster, easier and less expensive and let them focus on their core business activities. We support clients on improving accounting systems, and assist in keeping accounting records for management purposes. The administration and payroll procedures will be greatly simplified and the staff will have more time to contribute and add value to business by outsourcing non-core activities to us. We can provide such advantages by following variety of reasons:
- We have the top experienced and enthusiastic team to satisfy our clients. All staff are well trained for seamless services experience for our clients.
- Our professional system is kept and maintained to adopt the fast-changing accounting and tax regulations.
- Our accounting process becomes more efficient than your own self-accounting because cost advantages of economies of scale are reaped.
- Reduce administrative expenses by outsourcing the accounting segment to us.
- Files, data and communication are stored in the cloud with the same secure infrastructure Google uses. It helps to retain, search, and export in a fast manner.
Our Approach
5-S Approach
Sort
Analyze and classify the transactions, accounting documents and information received from clients, keep items which are relevant and remove the inappropriate ones.
Set in order
Data and documents must be labeled and stored systematically in a chronological order for easy access, easy to use and avoiding wasting time.
Standardize
The communication and maintaining of standards and expectations across our firms, all staff are well trained for seamless services experience.
Sustain
Self-discipline
Privacy and Safety
Cloud storage
Files, data and communication are stored in Google Drive with centralized administration, data loss prevention, and Vault for Drive to help meet data compliance needs. It takes advantage of the same secure infrastructure Google uses. Your data and information are protected and automatically backed up in the cloud.
Our Accounting Process
Step 1: Acceptance of New Client
We shall carry out the survey at the client’s site, agree on scope of services and make a plan with the Board of Director and Accounting Department.
Step 2: Understanding the Client, creating a new accounting database
- Understanding the Client’s business operation and transactions;
- Setting up an accounting voucher system in compliance with the selected accounting regime.
- Setting up a chart of accounting which meets requirements of government and management needs.
- Supporting to select a standard computerised accounting packages in a more efficient and cost-effective way by: (i) explaining the options available in hardware and accounting software; (ii)
advising on which option would be most suitable for the Client’s needs and particular circumstances;(iii)
installing the accounting software that the Client have selected; (iv) and
training the Client’s employees in its use.
Step 3: Recording accounting books under 5S approach
- Analyze and classify the transactions. This step involves quantifying the transaction in monetary terms, identifying the accounts that are affected and whether those accounts are to be debited or credited.
- Record the transaction in the accounting software by making entries in the appropriate journal, such as the sales journal, purchase journal, cash receipt or disbursement journal, or the general journal. Such entries are made in chronological order.
- Prepare and print out accounting vouchers, accounting books in accordance with prevailing accounting and tax law;
- Provide guidelines on storing accounting vouchers and profiles.
Step 4: Periodical declaration of tax obligations
- Prepare monthly/quarterly Value Added Tax return;
- Prepare quarterly Corporate Income Tax application;
- Declare monthly/quarterly Personal Income Tax;
- Prepare and submit quarterly reports on the use of invoices;
- Work with the tax authorities on request;
- Appeal against unfavorable treatments.
Step 5: Closing, finalizing, and printing out accounting books
- Compile the financial statements;
- Prepare the annual finalization of corporate income tax (CIT);
- Prepare the annual finalization of personal income tax (PIT);
- Prepare and submit the statistical reports;
- Print out accounting books.
Step 6: Ongoing Assistance
Address questions on tax and accounting, communicate and consult to the Company on its transactions.
