Accounting Outsourcing

How we can help 

With this service, we will act as the client’s accounting department. We will collect and file all accounting documents, analyze accounting transactions and reflect them on the accounting system fully and precisely in compliance with accounting standards, prepare reports for the statutory purposes and internal-management purposes.

Accordingly, our detailed works are as follow:

  • Set up the accounting system to ensure that it could meet all the client’s requirements of reporting. Example: Set up foundation data for the accounting software, set up lists of accounts and ledgers, set up all kinds of reports, register accounting methods and fiscal years with authorities, set up filing system, set up accounting policies and processes ect.
  • Provide necessary guidance for the client’s related departments regarding collecting and sending us supporting documents which must be eligible for accounting and tax purposes.
  • Analyze the supporting documents of economic transactions incurred and reflect the transactions on the accounting system basing on valid accounting standards and guidance. In the case of unusual issues, we will timely inform the client and then propose proper solutions for the client’s approval for the next steps.
  • Guide the client on how to implement payment procedures to suppliers and recover overdue account receivables.
  • At month end, implement monthly accounting entries regarding revenue and expense allocation and estimation, provisions, inventory costing, costs of goods sold… and prepare monthly income statement reports.
  • Support the client to issue invoices.
  • At the beginning of each month, we will send accounting reports to the client basing on the agreed schedules and provide a detailed explanation about the reports when required. We also support to send necessary reports to the client’s tax department for monthly tax filing. Besides, if required, we will support preparing several reports required by local authorities such as statistical reports, labor reports, investment reports.
  • At year-end, we will: (1) prepare the statutory financial statements and internal management accounting reports and submit them to the client for their review and approval; (2) if authorized and approved by the client, provide related data and reports to external auditors or local authorities (Ex: Statistical Agencies, Ministry of Investment and Planning, State Bank,…); (3) send related data to tax filling department of the client for tax finalization; (4) submit relevant reports to authorities when required.
  • Support the client to provide detailed explanation and data regarding the client’s submitted reports to third parties when required (Ex: external auditors, tax authorities, management authorities).

Benefits for the client

  • Meet business schedules in urgent cases.
  • Help clients to save much of effort and time.
  • Help clients to save costs.
  • Help clients feel more secured about job quality.

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