Accounting and Inventory

Richent offers Financial Accounting and Inventory Stock Management services that generates accurate management reports from both computerized and manual accounting systems. Under Financial Accounting, we offer the following services;

We custom design, develop and implement organized set of either manual and or computerized accounting methods, policy and procedures framework  and internal controls established to gather, record, classify, analyze, summarize, interpret, and present accurate and timely financial data for management decisions as well as safeguard organizational assets. We train our clients on the systems fully.

We develop and implement organizational operational policies and procedures systems and structures. We design policies that adequately safeguard organizational resources and assets as well as enhance operational efficiency. These policies and procedures manuals include Finance and internal control policies and procedures, Procurement policies and procedures, Human Resource management policies and procedures, Travel Policies and procedures, Fraud prevention and conflict of interest policies. We design, develop and implement policies that are aligned to the organization’s control structure and environment. We undertake review of organizational policies and align them to best practice and legal and regulatory requirements.

We provide outsourced book keeping and accounting services. Under this, we maintain the client’s books of accounts on a daily basis ensuring that financial records are up to date, support daily accounting and financial functions like prepare and process payments. Prepare monthly bank and other accounts reconciliation statements and generate monthly management accounts. File all transaction support documents including receipts, invoices, delivery notes and statements of accounts.

Richent’s tax practice brings with it years of experience in dealing with the complexities of the Kenyan Taxation System.  Our tax experts are adept at finding answers to business problems across varied sectors, as well as objectively providing solutions based on sound analysis of our client’s specific tax issue including full support on iTax platform.

Our team of experienced multi disciplinary professionals offers sound, dependable, and cost-effective tax planning and compliance services. In keeping with Richent’s value proposition our  team of experts go that extra mile – establishing credibility with tax authorities, while keeping a tab on the frequent changes and amendments made to tax laws. We also ensure that our clients are not left in the dark, making it our business to keep them abreast with important changes made to the tax laws. We maintain a tax calendar for each client to remind them about impending tax deadlines through frequent tax alerts and reminders.

We advice and prepare full paperwork documentation for tax exemption for NGOs, corporate and businesses. We support organizations prepare for and execute KRA Tax Audits.

On behalf of our clients, we process monthly payable and or claimable taxes and prepare returns and file the returns with the relevant tax authorities before the due dates to ensure our clients are compliant. These taxes on the iTax platform include but not limited to;

  1. VAT tax
  2. Payroll taxes (PAYE, NHIF, NSSF)
  3. Withholding taxes
  4. Miscellaneous Taxes (Training Levy, Catering Levy, Standards Levy)

We design and implement an inventory stock management system for both consumable inventories, stock in trade and permanent inventories. carry out regular stock take for our clients as well as stock valuation services.

We assess, design and implement computerization of accounting systems. Train the users and manage the transition and changeover including the documentation and testing of all the ledger balances pre and post changeover.

In order to ensure more effective measurement of value for money, we develop monitoring and evaluation frameworks for organizations, we undertake baseline surveys, rapid and structured assessments. We plan and implement monitoring and evaluation plans as well as undertake both mid-term and end term evaluations for programs.

As part of our working capital management, we undertake receivables collection (Debt Collection) on behalf of our clients, advise our clients on an optimal balance between payables and receivables to ensure that the business remains liquid at all times.