Accounting Services
Procedural Policy Manual
Our firm has dedicated and experienced team of professionals that assist clients in the preparation, design and documentation of all your accounting policies and procedures in a manual.
The manual defines your company’s policy and procedures in the handling, classification and treatment of cash, receivables, fixed assets, liabilities, revenue and expenses. It identifies the duties and functions of each position in the accounting department in such a way that a check and balance in the performance of each job are evidently established and responsibilities of each position are clearly defined and ascertained.
The manual integrates the necessary internal control measures to protect the company’s assets. The benefit of the manuals is that it limits the discretion of employees since their functions and duties are clearly defined. Responsibility for irregularities is easily determined and ascertained. Procedures and policies are consistent and do not changed with the resignation, separation or change of employees.
Bank Reconciliation
The bank reconciliation statement is prepared to disclose any errors or irregularities existing in either the records of the bank or the company and to correct the errors found or to make the appropriate actions for the irregularities discovered. It is a necessary internal control measure to verify the correctness and validity of your company’s bank disbursements and deposits. Bank reconciliation is performed by analyzing and comparing the cash transactions appearing in the bank statement as against the record of disbursements and deposits of the company. I t identifies discrepancies by comparing the transactions on both records for the purpose of reconciling the cash balance in the bank with the cash balance appearing in the records of the company on a monthly basis.
Our firm has trained and experienced team that can prepare your bank reconciliation statement on a monthly basis.
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You just have to provide us your monthly Bank Statements and your Cash Disbursement and Cash Receipt Journals supported with vouchers and receipts and we will reconcile your bank statement as against your cash records in your book of accounts. We will determine whether all of your company’s collections are properly deposited in the bank or all your disbursements are valid and properly authorized.
Payroll
Whether you have 10 or 1,000 employees, there are certain provisions guaranteed by the Department of Labor and Employment (DOLE) and the Bureau of Internal Revenue (BIR) that must be mandatorily included in the payroll computation. Payroll must be prepared by individuals who are aware of these provisions.
Our payroll team is very familiar of these provisions and has extensive experience in payroll preparation. We prepare payroll for clients on a weekly, semi-monthly or monthly basis and compute the required deductions for withholding tax, SSS, Pagibig and Philhealth premium contributions. We also prepare the required monthly remittance of withholding tax under BIR Form 1601C and the required yearly alphalist under BIR Form 1604CF. We also compute and prepare remittances of premiums contributions for SSS, Pagibig and Philhealth under the following forms:
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MCRF (HDMF/Pag-ibig Member’s Contribution Remittance Form)
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RF-1 (PhilHealth Employer’s Remittance Report)
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R-5 (SSS Employer Contributions Payment Form)
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R-3 (SSS Contribution Collection List)
With our payroll services, your company will be assured of accurate and timely payment of your employees’ salaries as well as the timely submission and remittance of withholding tax, SSS, Pagibig and Philhealth premium contributions.
Bookkeeping & Preparation of Financial Statements
Bookkeeping involves the process of recording, analyzing and interpreting the financial transactions of a business. The discipline of bookkeeping accounts for a large proportion of the accounting process. Ideal bookkeeping services must be able to produce financial records that would be a basis for the preparation of financial statements and give business accurate information about its financial activities. These records are critical to the future success of any business.
Our accounting firm has a dedicated team of accounting professionals that can provide reliable bookkeeping services for your company. We analyze, evaluate and record daily transactions and enter them in a computerized accounting system. This would allow us to prepare financial reports that will show the current financial performance and position of your company. With our bookkeeping services, your company will be certain of the correctness of Journal Entries and proper evaluation of accounting transactions. At the end of every accounting period, we prepare and provide you with accurate financial statements as a result of our bookkeeping services.
Engagement on Agreed Upon Procedures
The use of a computerize accounting software provide major advantages to company such as speed and accuracy of operation, and most importantly, the ability to see the real-time state of the company’s financial position. Our team is conversant in the use of different accounting software available in the market today. We will install the accounting software in your company’s office premises and train your accounting staff in the operation of the software and generation of reports thereof. The use of accounting software considerably reduces the time spent in recording accounting transactions and the generation of accounting reports.
Accounting Consultation
We assist companies in the proper treatment of accounting transactions, design of chart of accounts and applications of accounting principles and provide awareness and updates of new accounting standards. With our years of experience dealing with different businesses, we give advice on the best step to make on a given situation. We also provide internal control audit in order to check if the business process is in its best state, and if not, we give the possible recommendations for improvement.