In the initial stage of business establishment, the benefits of cost optimization are self-evident. Among them, how to handle the optimization of financial work costs such as finance and taxation is a problem considered by many entrepreneurs. Some people entrust the financial work to a professional accounting agency, while others entrust the financial and tax work to a friend who is an accountant or part-time financial staff.
What is accounting and tax Outsourcing? (Bookkeeping)
- Accounting outsourcing are bookkeeping, which hand over the company’s financial affairs to professional financial agencies. Since the cost of bookkeeping is relatively low, it is adopted by most small and medium-sized enterprises and start-up enterprises.
- After the company is established and obtains tax registration, even if there is no business activity, it needs to be declared monthly. The agency bookkeeping can save the cost of hiring a specialized accountant, and related financial work will not cause incomplete accounting or even data leakage due to changes in the company’s accounting staff, and it can more immediately respond to changes in local tax policies to avoid corporate losses and tax risks.
What are the advantages of accounting and tax outsourcing?
Modern bookkeeping agency has developed into an important part of modern service industry based on and core of accounting, supplemented by high value-added services such as taxation, industry and commerce, financial management consulting, and tax planning. Outsourcing accounting and taxation to an agency has the following advantages.
- Save the cost of hiring accountants.
- Reduce the additional burden of the enterprise (insurance, welfare).
- Keep account confidentiality.
- Financial work continues uninterrupted.
- Instant and accurate tax declaration.
- Immediately respond to local tax situation.
- Diversified information flow.
Accounting bookkeeping agency service procedure
- Transnational investment activities are becoming more and more active. Entering the capital markets of different countries must follow local accounting standards. Through accounting and tax outsourcing services, a complete and complete internal control system and a sound financial management mechanism can be established to make local taxes comply with laws and regulations., Reduce fiscal and tax risks, and ensure that customers can focus more on core market/product and business development.
- Accounting service procedure
Sign a bookkeeping
- Sign a bookkeeping agency contract.
Sign according to the financial situation and customer needs.
- Handover of original documents.
Organize original bills,Express delivery of documents.
- Financial accounting.
Calculate tax and prepare accounting statements.
- Tax declaration.
Submit calculation report,Make a tax declaration.
- Taxes paying.
Tax payment based on the monthly situation.
Accounting bookkeeping agency service of different countries
China: Shanghai, Suzhou, Kunshan, Shenzhen, Xiamen…
Chinese accounting tax application procedure:
- Handle tax registration
- Purchase tax preparation software
- Accountant registration
- Invoice application
- Basic tax response
Accounting bookkeeping agency service China
- Create an account book
Create account books according to company needs.
- Electronic billing
Perform computer accounting according to the original file provided by the company.
- Electronic report
Prepare financial reports, including balance sheet/income statement…etc.
- Tax declaration
Corporate income tax, business tax, value-added tax, personal income tax.
- Year-end accounts
Process year-end accounts to meet audit and tax reporting needs, including preparation of account details.
- Annual inspection
Depending on the needs of each region, an audit report or tax audit report may be required.
Accounting agency service content:
- Acting bookkeeping will prepare financial statements in accordance with local accounting standards and corporate accounting systems, and establish a set of financial accounts for the company.
- Audit the original vouchers, fill in the certificate and account vouchers (invoice, etc.), register the account book (account book), prepare accounting statements, fill in and declare tax returns (tax declaration), and provide guidance on financial affairs (such as buying Invoices, tax clerk training, deduction agreements, purchase of stamp taxes and USB key, etc.),help the company register general ledger accounts, detailed accounts and make accounting statements every month.
- Bookkeeping agency services include monthly and annual declaration services for various taxes (value added tax, business tax, personal income tax, etc.), corporate income tax compliance declaration, and monthly tax declaration for the company.
- Fiscal and taxation policies information delivery, free daily calls to answer questions, etc., to assist the company in dealing with general problems in taxation, communication, and coordination.
- Establish a sound financial internal control system.
The fiscal and taxation policies issued by the local industrial and commercial finance and taxation departments are closely related to enterprises. How to pay attention to the development trend of policies, cross-border operators often have delays in this part of the information.
Inter Area provides local professionals with instant communication and cross-border services, and information is obtained in a timely manner, even if the customer does not understand or do not know.
We are also committed to improving accounting service standardization and accounting information communication SOP, improving resource efficiency allocation to reduce unnecessary time and cost loss, thereby eliminating gaps and obstacles in cross-border tax information, and continuously improving the efficiency and value of services for customers Provide real-time/accurate local tax and financial information and propose practical solutions to meet the needs of investors and other users of financial information by enriching practical operations and professional knowledge.
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