Outsourcing your accounting and bookkeeping requirements will reduce the time, resources and costs needed to keep and maintain accurate accounts, allowing you to focus on your business.
Sovereign’s in-house team of Hong Kong CPAs will work alongside clients in Hong Kong to provide fully outsourced accounting facilities, as follows:
- Bookkeeping and Reporting Services
Up-to-date bookkeeping of all documents in compliance with statutory requirements
- Preparing bank reconciliation
Verifying that the transactions displayed on your bank account are entered into the bank account on your bookkeeping system.
- Re-invoicing Services
Transfer costs incurred by the re-invoicing entity to the entity that actually used the given services.
- Payment Processing Services
- Verifying the validity of the charges and the accuracy of the original supporting bills and invoices presented for payment
- Preparing and arranging payments in accordance with your company instructions and proper authorisations
- Preparing monthly cash flow statement
Statement of all payments and receipts that shows how much cash is coming in to, or leaving, the business.
- Automated accounting
Posting all data to designated accounting software (if applicable)
- Preparing a general ledger
The general ledger reflects a permanent summary of all your supporting journals, such as the sales and cash receipts journal and the cash disbursements journal.
- Preparation of monthly/ annual management accounts
Management accounting is the process of preparing and producing the financial reports for managers and business owners in accrual basis, including a profit and loss statement and balance sheet.