Accounting and Business Support
We help you focus on running your business by providing you a variety of accounting and business support services. Outsourcing is often a cost effective, time saving solution. We insist on understanding your business and receiving your close cooperation (in terms of input) for our tasks.
We ensure your management have the financial information they require on a timely basis, and assist you in ensuring you comply with the applicable tax laws, accounting and corporate regulations in Vietnam.
Learn more below on how we can assist your business accounting tasks :
Bookkeeping services include:
- recording transactions for which the client has determined or approved the appropriate account classification
- posting coded transactions to the client’s general ledger
- posting approved entries to the trial balance
Monthly/quarterly and annual financial reporting
We will take responsibility for reconciling the accounting data and converting this into financial statements with supporting schedules. We will capture the financial information required, such as actual results compared to budget and/or projections, key performance indicators and financial ratios. The financial statements will be reviewed with management to ensure the monthly/quarterly financial statements are finalized by a timeline in line with the submission of the periodical tax returns. These can be submitted to your head office or filed with regulatory bodies as required. We are happy to join discussions with your management as required.
Employers often face difficulties in obtaining sufficient and competent finance/accounting resources. This is especially so when accounting teams are involved in time-consuming, non-core functions such as the compilation and preparation of accounting schedules. Some of the challenges faced by company management teams are as follows:
- Preparing accounting schedules is a tedious and laborious accounting task which is a distraction from core business operations;
- Insufficient manpower to source and identify the supporting documents within the stipulated timeframe;
- Absence of an independent party with unbiased opinions to handle sensitive issues or confidential accounting information;
- Lack of understanding in complex financial transactions and accounting journals
Let us help you review all your accounting work and assist you in completing the accounting schedules.
Invoicing & Billing
We can conduct sales invoicing on your behalf, whereby your sales staff request invoices to be raised and sent to your customers, and periodic reconciliation of receivable balances. A formal process will be established to ensure that proper processes and controls are in place and a strong audit trail will be maintained at all times.
We can do data entry work for you and be responsible for inputting supplier purchases, payments and preparation of supplier statement reconciliations on a regular basis.
Payroll & Employment Support
We provide full payroll outsourcing services including calculation of salary and fringe benefit taxes, deductions and reimbursements, arranging payment to your employee bank accounts, payment of those taxes, and preparation and delivery of payslips.
We assist with navigating through the many personal administrative tasks required of an expatriate working and living in Vietnam. We will co-ordinate with authorities and vendors for input and guide you (or your staff) through the proper processing steps relating to employment issues and other areas, given the complex business environment of Vietnam.
Major areas of support include: visas and work permits, in-country orientation, accommodation (short-term and long-term), miscellaneous support (such as medical insurance registration/ subscription, local driving licences, local IT support, language translation or finding work for the spouse, decorating their new property, registering with local sports and leisure facilities, etc.).
Relocation of Registered Offices
We assist you with all aspects of the relocation of your corporate headquarters (from district to district within a city, from a city to another city/province), notably in working with the tax authorities and business licensing authorities (Department of Investment and Planning) for the documentation requirements. At your option, we can also assist with finding the right relocation service provider you need to ensure that the physical office move of your computers and technology, office files and documents, library, workstations, and loose furniture items will be conducted quickly, efficiently and cost-effectively, minimizing downtime while maximizing productivity of your business services to your customer.
Corporate Secretarial Services
Corporate compliance in Vietnam is a complex legal requirement for all Vietnam-based foreign-owned companies. The various authorities in Vietnam govern the reporting/statutory obligations of companies, in their daily operations and in cases of changes taking place within the corporate lives (changes of company name change, registered offices, business scope, license renewal). We help them fulfill their statutory obligations in an efficient and timely manner.