Accounting processes are a crucial part of any business. Not only are they critical instruments in day-to-day planning and operations, they are also essential when doing long-term projections and in decision-making. Proper accounting is also a must in complying with legal requirements, including the filing of income tax returns, employee benefits, and declaring shareholder dividends.
Recently, there has been a global trend toward outsourcing accounting needs, involving anywhere from just a few functions to an entire range of processes. Many businesses are now recognizing the benefits of outsourcing their accounting needs. These include:
Time management–managers and employees have more time to devote to the company’s core functions
Expert services – accounting service providers are usually manned by experts who work in teams, constantly validating each other’s output to ensure the satisfaction of their clients. Many providers also make use of proprietary software or programs that simplify the process and allow better quality control. What you get is a high-standard output that would be difficult to achieve internally without a heavy investment.
Cost savings – by outsourcing your accounting procedures, you can save on costs associated with hiring and maintaining in-house employees
Our team of financial experts is ready to provide you with a full suite of accounting services, including the following:
Bookkeeping and added services
While an essential process, bookkeeping is also highly time consuming. By relieving your company of this burden, you are assured that your transactions are properly documented and your books are always in order, while you and your staff focus on activities that can better help in growing your business.
In addition to bookkeeping, we can also perform other related services, such as financial report preparation, account reconciliation, and account receivables management.
Annual audits take much time and effort, both in the run-up for one, and the actual audit procedure itself. This is why we encourage our clients to take a proactive and preventive approach to auditing. We perform internal audits, along with a review of the company’s finance management policies. We help make sure you are compliant with the latest regulatory standards, and we recommend measures to strengthen your internal practices and controls.
Payroll is another time-consuming process that can zap you of needed resources. We can help you in some or all aspects of payroll processing, including:
Salary preparation, with due computation for leaves, overtime, tardiness and others, based on company policies
Complying with the requirements of agencies like the BIR, SSS, and PhilHealth
Organizing and maintaining an employee database
Providing advice and recommendations on tax-efficient salary schemes and payroll policies
Doing business in the Philippines involves dealing with a number of taxes, including income tax, customs duties, local business tax, Value Added Tax, and more. It is important to be compliant at all times to avoid costly legal problems. We provide assistance in tax assessments and compliance, along with determining and processing claims for refunds, and other related procedures.
Apart from this, we also offer assistance in tax planning and corporate structuring to help identify and pursue opportunities for tax savings right at formation or at any other time during the company’s life.
Outsource Payroll Services