Accounting and bookkeeping services

A bookkeeper may be a person to record the transactions of the corporation just like the payment of bills, the gathering of assets, payroll, purchases, sales, etc. Whether you use a little business or an enormous enterprise, every company needs a bookkeeper. Since these recorded transactions are to pay the taxes of the corporation afterward, it's always better to rent a knowledgeable bookkeeper.

As most business owners know, bookkeeping is additionally a time-consuming process, and sometimes requires meticulous organizational skills to organize accurate financial statements. These statements can also vary from country to country. That’s why it’s advisable to rent a knowledgeable firm that features a background in preparing bookkeeping and accounting services in Hong Kong for your company.

We offer affordable prices for all different types of companies. Our accounts are in accordance with Hong Kong Accounting Standards and that we maintain a top quality when managing your company books.

The Pricing Page for our bookkeeping services outlines all of our accounting options.

Our Bookkeeping services include:

• Preparation of monetary statements
• Generate monthly reports
• Create Management accounts (Profit and Loss, record, balance, General Ledger)
• Bank reconciliation

Once you've got the company documents in situ , the subsequent issue to deal with is which accounting software is best for your company?

After all, it’s about managing the records of your business accounts. If the records of the transactions are managed well, it'll assist you analyze the business performance accurately. Let’s see a quick explanation about the kinds of bookkeeping software we use:

The bookkeeping software that we use most for our clients is Quickbooks. Generally, this is often a succinct business accounting software program that wants to manage sales, expenses and track the daily transactions of your business. This software are often used for invoicing customers, paying bills, generating reports for planning, tax filing, and more. In short, whether you're a solo entrepreneur or a mid-sized business, this bookkeeping software can help manage every document efficiently.

The top uses of QuickBooks for small business owners are:

• Manage Sales and Income: With the assistance of Quickbooks software, you'll easily manage the sales and income of your business just by creating invoices to trace sales by customers.
• Keep Track of Bills and Expenses: This bookkeeping software can automatically keep track of your bills and expenses by connecting your bank and MasterCard accounts to QuickBooks. during this way, all of your expenses are often downloaded and appropriately categorized.
• Profit and Loss Report: It also can help run the profit and loss reports in only a few minutes. it'll show you ways profitable you're by summarizing your overall net income .
• Statement of money Flows: In Quickbooks, you'll quickly create a statement of cash flows. With this report, you'll manage all the activities that affect the operating, investing, and financing cash inflow and outflow for your business.

Once you've got the company documents in situ , the subsequent issue to deal with is which accounting software is best for your company?

After all, it’s about managing the records of your business accounts. If the records of the transactions are managed well, it'll assist you analyze the business performance accurately. Let’s see a quick explanation about the kinds of bookkeeping software we use:

Are you a Mac user? Xero is the best small business accounting software for Mac users because it's cloud-based and accessible from any device or computer. With this feature, Mac users don’t experience any loss of usability or features. In fact, Xero may be a good value for little businesses because all of its plans incorporate nearly every feature, such as: accounts payable, inventory management tools, and estimates which are generally available in top-tier plans. Here are some features of Xero that you simply should know:

• Worth Spending: Xero may be a good value for little businesses because all of its plans include nearly every feature – estimates, accounts payable, and inventory management tools, which are frequently only available in top-tier plans.
• Ease of Use: This bookkeeping software allows business owners to line up their accounts easily. It gives employers the proper to acquaint a good range of tasks with a web accounting solution, like connecting your business checking account , adding a customer, and creating your first invoice. If anyone needs additional help with the way to link and upload videos, then this software could also let one realize the specified steps.
• Timesaving Features: subsequent feature of this bookkeeping software is that it saves time of the executives by streamlining different processes. Also, it provides entrepreneurs with the proper tools to accomplish financial tasks faster.
• Inventory Tracking and buy Ordering: Whenever you create an invoice or quotation, you'll see yourself what percentage of every item you've got available . And just in case you entered quite intended, it alerts you with a red popup box. If you would like to reorder inventory, you'll use the software to make and send purchase orders also .

Hong Kong companies are required to organize financial accounts to record their company transactions as in accordance with HKFRS (Hong Kong Financial Reporting Standards). This needs them to follow the principles in Hong Kong for preparing the accounts, and also to record proper documentation and eventual tax filing, during a timely manner.

We at our company provide accounting services for your company’s transactions. we'll assist you in preparing all the specified financial controls, financial reports, and performance ratios, all supported the knowledge entered within the bookkeeping system.

With our years of experience in accounting and bookkeeping services in Hong Kong , we will do our best to keep your financial statements in order. We pride ourselves in providing accurate and efficient account services, including our accounting software.

We will help you manage the financial statements and reports of your business. Generally, we provide the knowledge essential to business owners for the expansion of their organization through properly presented and accurately prepared management accounts. To be more specific, we assist you with:

• Accurate financial reports of your business at predefined time intervals.
• Support to your external accountants for his or her performance enhancement
• Professionally controlled figures that are in correct order
• Relevant recommendations supported information associated with actual performance
• Professionally presented reports that stakeholders will believe in

If you're trying to find professionals who can help with the business expansion and preparing detailed accounting and bookkeeping services in Hong Kong , we would be your most suitable option.

The accounting and collection services are pretty important in every country, so there's no exception in Hong Kong. Every incorporated company in Hong Kong will get to file the Profit tax return (PTR) for every respective year when conducting business, which is issued by the Hong Kong Inland Revenue Department (IRD).

The company would also get to manage their company accounts in order that they are often submitted to a licensed Public Accountant. After the submission, the accounts are going to be audited then filed to the government.

Once the accounts are prepared and audited, the taxation computation and audit reports are going to be submitted with the PTR to the Inland Revenue Department. If you're handling some taxation problems, we can assist you with it. We provide timely responses for your tax matters.

All Hong Kong companies are legally obliged to file the PTR to the government. This could be accompanied with the company’s audit report and tax computation, generated by a Hong Kong CPA

The Inland Revenue Department would issue the very PTR (Profit tax return) of the company after the 18 months of incorporation, and subsequent PTRs every 12 months after, normally in April.

In general, whether your company operates their business within Hong Kong or outside the town , you'd still have to file a PTR together with your company accounts. Therefore, every incorporated company is susceptible to submit their accounts accurately and during a timely manner.

We can assist companies to submit the PTR and audit financial statements provided by an independent CPA firm for your business. If you would like to possess the annual PTR filing completed for your company, contact us today.

Employers also are required to file the employer’s return to the IRD. The aim behind this type is to report the knowledge associated with the employee’s remuneration like salaries, pensions, and wages within the relevant year of assessment to the HK government.

During the year the IRD will issue the ER form to companies in Hong Kong for filing the income for his or her employees and directors. The employers would wish to present the relevant information on the pensions and remunerations paid to its employees to the IRD within one month from the issued date.

We provide corporate services for filing the Employer’s Returns for Hong Kong companies.

Another form that must be filed by every taxpayer is that the individual income tax return form (BIR60) with the IRD. The individual will usually receive this type if they have taxable income during the period. Otherwise, the individual should inform the IRD about any income subject to tax.

The year of assessment runs from April 1 through March 31 of the subsequent year. By May 1st, the IRD issues the individual tax returns to the taxpayers, which is to be submitted within 1 month. The IRD will then issue a tax note for the payment of taxes.

If you're confused about the way to exit this type or the way to declare your income earned throughout the year, we can help. We provide services for individual tax returns and calculate all the income and deductions you'll claim in Hong Kong.

Did you recognize that working or doing business as a non-resident in Hong Kong may cause tax liabilities for your income? However, not all sorts of income are chargeable in Hong Kong. you'll even be required to notify the IRD before 1 month of your departure date of Hong Kong , or face penalties for non-compliance.

A common request from our clients is declaring income for tax purposes for his or her operations in Hong Kong, be it their incomes from business or for salary tax purposes.

We can assist you with the required tax filings for your income and also tax computation for the taxes thanks to the IRD.

If you would like any extra support from us, aside from accounting, taxation and bookkeeping services, we've your back. We provide additional accounting services as per the suggestions and requirements of our clients. These additional services are tailor-made for your company and would be quoted to support your requirements.

In each case, we might spend ample time and confirm the simplest solution for your company matters.

Our services for this include the following:

• Management account consultation
• Implement tax strategies to reinforce tax efficiency
• Consult on tax effects of international transactions
• Tax compliance services like tax computation and form preparation
• Advice on offshore status and profits tax exemption to the IRD
• Compose response for IRD Tax Query Letter
• Other services

If you need further in-depth services, we will quote you supported the time required to satisfy your needs

By now you'll have a far better idea about the importance of accounting, bookkeeping, and taxation services in Hong Kong. Having up so far accounts can impact the expansion and operations of your business. That’s why it’s suggested to rent professional accountants when the corporation grows and therefore the finances get complex.

Hiring us as your tax advisor and bookkeeper would allow you to arrange and submit all the relevant documents to the IRD. We provide comprehensive services from efficient maintenance of the company books, satisfying international tax compliance responsibilities, consultation in effective tax plans to lower taxes, moderate taxation risks, and lots of more.

We have worked with clients from everywhere on the planet from industries of various sizes and backgrounds. Whether you own a business within the IT sector, consultation, services industries, or the other sector, we can assist you. We attempt to finish each engagement efficiently and effectively to suit each of our client’s needs.