Accounting and
Financial Sector

1. Transaction Recording:

• Daily entry of financial transactions.
• Categorisation of income and expenses.

2. Bank Reconciliation:

• Matching transactions with bank statements.
• Resolving discrepancies in records.

3. Financial Statement Preparation:

• Income statements.
• Balance sheets.
• Cash flow statements.
• Year End Finalization

4. Financial Analysis:

• Reviewing financial performance.
• Identifying trends and insights.

5. Adjusting Entries:

• Correcting entries for accuracy.
• Ensuring compliance with accounting standards.

6. Closing Entries:

• Finalising revenue and expense accounts.
• Preparing for the next accounting cycle.

1. Audit:

• Evaluating internal controls.
• Identifying areas for improvement.

2. External Audit Support:

• Assisting in the audit process.
• Providing necessary documentation.

3. Compliance Checks:

• Ensuring adherence to legal requirements.
• Minimising risk of penalties.

4. Payroll:

• Salary Processing:
• Calculating employee salaries.
• Managing deductions and bonuses.

5. Tax Withholding:

• Ensuring compliance with tax regulations.
• Facilitating tax withholding processes.
• Employee Record Management
• Maintaining accurate employee information.
• Updating personnel records.

6. Credit Control:

• Credit Policy Development:
• Creating policies for credit extension.
• Establishing credit limits.

7. Debt Collection:

• Pursuing overdue payments.
• Implementing effective collection strategies.

8. Credit Risk Assessment:

• Evaluating potential risks.
• Recommending risk mitigation measures.

1. Invoice Processing:

• Timely issuance of invoices.
• Verification of received invoices.
• Supplier Relationship Management:
• Negotiating payment terms.
• Resolving payment discrepancies.

2. Credit Terms Negotiation:

• Negotiating favourable terms with suppliers.
• Ensuring optimal cash flow.
• Ledger Review & Financial Reporting

3. General Ledger Maintenance:

• Updating ledger accounts.
• Reconciling ledger balances.
• Customised Financial Reports:
• Generating reports tailored to client needs.
• Providing insights for strategic decision-making.

1. Budgeting and Forecasting:

• Creating budgets for future periods.
• Forecasting financial outcomes.

2. Cost Accounting:

• Analysing and managing costs.
• Identifying cost-saving opportunities.
• Self-Assessment Tax Returns

3. Income Tax Calculation:

• Accurate calculation of taxable income.
• Determining applicable deductions.

4. Filing Assistance:

• Preparing and submitting tax returns.
• Ensuring timely compliance.

1. VAT Registration:

• Assisting in the registration process.
• Ensuring compliance with VAT regulations.

2. Periodic VAT Filings:

• Submitting VAT returns on schedule.
• Verifying the accuracy of VAT calculations.