Outsourcing Accounting Services for your Business can be the right step.We at Jeff Mwangi & Company has been doing this for other businesses for a decade.There are a lot of benefits which accrue when you outsource your accounting services.
Accounting is one most overlooked department.Therefore in the long run may frustrate business growth if not well maintained. There may be various reasons for deficiencies in engaging full-time accounting personnel.Which includes obvious cost, lack of skilled personnel staff in accounting software.And as well as remoteness of branches or departments
These are some of the processes which we will lay down when hire our services.Outsourcing Accounting Services for your Business is the new trend in Kenya.Consequently aiding in the fight against corruption and fraud in businesses.
Setting up an accounting department.
Setting up the accounting function enables you capture all activities in the business.
We are keen in setting up chart of accounts and sub-accounts.To capture all data on cash and non-cash transaction.
Reclassify all data into ledgers and sub-ledgers in light of the chart of accounts.
Draft final Trial balance at the end of the engagement. All books of accounts follows double entry system of accounting.We will be following stems to accomplish the following;
Cash Book Management.
We shall undertake to maintain records of cash/bank balances at hand.Especially with frequent reconciliation. We shall also guide you on how to institute and maintain internal controls.Which is an important element for cash/bank management.
Most of all we shall endeavor to give tips on recording of sales revenue.Since tax is a major component of sales revenue.
Cost includes both purchases (goods for resale). With also running operational expenses.Therefore we shall take you through methods/steps to capture VAT. Which will be in both input and output.
We will also show you how to maintain stock records.In addition to giving you procedures for monthly stock taking.Hence preventing stock loss and periodic valuation mechanisms.
Furthermore we shall provide guidance on tax computations and remittance.Which is through KRA Itax platforms .These taxes include PAYE,Withholding tax ,VAT,corporate tax and Installment tax.We shall also guide you on how to file your Itax returns through Itax platforms.Which was effected as from 1st August 2015.
Most of all we will guide you on how to prepare management reports.Consequently with in-depth analysis to aid Managerial decisions making.
Welcome to our firm and all your accounting problems will be solved.View our other services which we help business accomplish compliance with Kenyan Laws.click here
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