Accounting and finance functions of an entity vary in rigor and scope at different phases of development of the company. Our professionals provide assistance across the four key activities of an enterprise’s financial reporting and compliance process.
Enterprises may determine, at their own discretion and needs, the assistance and support required at each phase of the enterprise’s accounting & finance function.
Business Activities &
We collect from you the list and supporting documents of all transactions happened during the month
We remind you to chase your input VAT fapiaos from your suppliers and vendor, where missing.
Record and Process
Process business transactions: sales, costs, expenses, accounts receivable & accounts payable
Record bank transactions
Record payments and collections
Process expense reimbursements
Process routine transactions and journal entries
Perform fixed asset accounting
Preparation of accounting by cost centers/BU/projects or other analytical accounting dimensions.
Perform inventory accounting
Book period-end adjustments and accruals,
AR/AP accounts and bank reconciliations
FX Gain&Loss recognition, carry-over of cost of sales.
Perform general accounting health-checks, chart of accounts maintenance & updates
Prepare AR/AP ageing, fixed assets register and depreciation summary
Prepare trial balance, general ledger file and monthly PRC financial statements
Generation of trial balance report by analytical accounting dimensions.
Prepare annual statutory financial statements and other financial information required for monthly/quarterly/annual statutory filings
Liaise with and support to external statutory auditors
Reflections of audit adjustment into the ledger.
and Reporting Package
Customization of client Group reporting within MEGI
Prepare periodical group reporting package, internal management reporting and sub-sheets
Draft consolidated financial statements
Process GAAP conversion adjustments into Italian / IAS-IFRS Gaap.
VAT Fapiao Issuance
Handling issuance and printing of sales (output) VAT fapiaos (Chinese tax invoices)
Processing commercial invoices, AR tracking and notification for outstanding receivables
Verification of vendor VAT fapiaos and attestation of input VAT.
Tax Filings and Declarations
Drafting and lodging of periodical (monthly, quarterly & annual) tax return computation, filing and payment to the relevant tax authorities
Assist in application of relevant tax certificates/applications (e.g. R&D special tax deductions, inventory and asset loss deduction, VAT taxpayer status, export VAT refund, tax certificate for withholding tax and others)
Contact and reference point with tax officers for any issue regarding your company tax compliance, periodical meetings and visit to the tax bureau
Other ordinary and extraordinary tax administrative services.