Every company needs an accountant or accounting department to manage its financial numbers, bookkeeping, and other account-related issues. However, setting up a department can be very costly. So, why not hand the job to Cheng & Co? We can ensure to fulfil your needs with experienced performances.
Service provided by our partner Pro B Centre.
Accounting Business Process Outsourcing
Outsourced accounting is a service provided by the third party which covers the entire accounting operational process. Cheng & Co serves to provide timely services to our client company that ensures the most up-to-date compliance. Also, we provide excellent service that allows the client company to have no worries and only focuses on their core operations.
Besides the accounting outsourcing, Cheng & Co has been actively promoting digitalisation; therefore, we strongly encourage our client to engage our CloudAccounting. It works perfectly with our Accounting Outsourcing service as it allows the client to go paperless, and stay accessible to the accounting figures. Not only this, but it also has extensive features for users to manage its internal process better.
Herewith the services of Accounting Business Process Outsourcing:
- Accounting Framework for Financial Statements.
- Chart of Accounts Set-Up: Revenue & Sales, Purchases & Cost of Goods Sold, Expenses, Assets, Liabilities, and Capital.
- Record of income and expenses in accordance with GST and tax requirements.
- Record of receipts and payments transaction in the system.
- Record of CAPEX and financial repayments in the system.
- Record of periodic provisions and journal entries in the system.
- Information Capture for the above transaction includes: Date, Document Number, Single Description of Transactions, Amount, and GST (if applicable)
- Preparation of bank reconciliation on a regular basis.
- Preparation of Fixed Asset Schedule.
- Review and finalize the monthly financial statements (refer to Income Statement/Profit & Loss Account, Statement of Financial Position/Balance Sheet and Trial Balance)
GST Review & Submission Services (If applicable)
- Review GST Return (GST-03) before submitting to the Royal Malaysia Customs Department (RMCD).
- Preparation e-filing of GST-03 submission.
Administrative & Filling Services (optional)
- Sorting of invoices, purchases and expenses in accordance with nature and time.
- Filling of documents in accordance with nature sorting and timing.
- Prepare a listing of claims documents on a monthly basis, if applicable.