AsiaBC is an accounting service firm in Hong Kong. Focusing o flexibility and result-orientation, we support Hong Kong Small and medium-sized enterprises (SMEs) doing local and international business to tackle their accounting matters timely. If you are running businesses in Hong Kong, you can subcontract your accounting and bookkeeping tasks out, our service contract is flexible, either one-off or annual basis is allowed.
Hong Kong government requires taxpayers to file tax returns annually, some SME prepare formal financial statements and accounts once per year when their quantity of transaction per month is less than 10.
For SMEs reaching annual turnover of HK$ 500,000, we strongly recommend their businesses to adopt formal accounting throughout the year.
Preparation of Financial Accounts
for every Hong Kong private limited company
Financial data preparation:
income and expense items
receipts and invoices
Financial statements preparation:
Statement of Owner’s Equity
Statement of Cash Flow
Starting from US$ 500 per company
* 1. Above service fee is only applicable to our existing clients. 2. Audited account is excluded, please contact us for inquiry.
AsiaBC can prepare the following for your business:
Computerized accounting records
Ledger, cash account, Accounts Receivable and Accounts Payable
Financial statements including Balance Sheet and Income Statements
Bank Reconciliation Statement
To effectively utilize Hong Kong tax advantages, AsiaBC can act as your tax representative at the same time to handle your Hong Kong tax returns.
Purposes of Proper Accounting
Under Section 51C of Inland Revenue Ordinance, every business taxpayer in Hong Kong must keep sufficient records of his income and expenditure to enable the assessable profit to be readily ascertained and shall retain such records for not less than 7 years. Failure to comply with this requirement may lead to prosecution and a fine of up to HK$ 100,000.
Regularly updated and systematically prepared accounting reports can reflect the financial statue of a enterprise. Management staff rely on this information to make decision and planning.
Our fee is based on a combination of following factors: