Set up and Bookkeeping Accounting
It is important to maintain updated financial records of all business transactions. The financial report will express the status and performance of the business. Companies and businesses registered in Cambodia need to maintain proper accounts to comply with various requirements and legislation in Cambodia such as VAT Return, TOP and Withholding Tax. Financial records are useful for day to day business references and are important for the entire accounting process. As such, bookkeeping is necessary for any business. Bookkeeping services involve the process of taking in, grouping relevant financial documents, referencing and recording all financial transactions of a business or company through proper accounting methods.
We offer professional bookkeeping services in Phnom Penh, Cambodia. We assign dedicated staff to our clients for their bookkeeping requirements. Bookkeeping job scope includes maintaining full set accounts, expenditures, incomes accounts receivables, accounts payable, bank reconciliations and etc.
Why Outsource Bookkeeping?
Fulfillment of Tax Obligations: Bookkeeping keeps track on any information and documents in order to accomplish annual taxes. You don’t have to rush anymore to find all those bills or try remembering expenses when tax time comes.
Reporting to Investors is Easy: The process of reporting to your investors on crucial information about the financial status of the company is no longer a worry. From charts, graphs to lists of data presented to the investors are all acquired from the book of account.
Business Planning is Easy: What you need is only the Balance Sheet and Profit & Loss to check if the company is on the right track financially, from there you can start your business planning so much easy.
Proper Record Keeping as Required by Law: Bookkeeping keeps record keeping properly organized from small to big big/invoice. It makes retrieving process easy once audit time comes. When you are a startup or a small business and you hate accounting.
Better financial analysis and management: Cash flow management is one of the most important things to focus. Regardless if you are busy or not, once invoices are delayed, no follow-ups on customer payments and falling out on supplier’s list of customers will eventually crash you down. Bookkeeping can systematize it up from up-to-date follow-ups, invoicing and on-time payment for suppliers.
What We Help You:
Posting of all cash received and paid out based on the official receives, payment vouchers, petty cash book, and bank statements provided by the Company
Posting of all approved sale and purchase invoices by the Company.
Posting of all journal entries related to inventory based on the updated stock movement provided by the Company
Updating of the fixed asset register and depreciation schedule based on the information provided by the Company
Drafting of financial reports to the Company for reviewing.
Keeping up-to-date financial records.
Reconciliation of bank statements and accounts.
Reconciliation of Accounts Receivables and Accounts Payable.