Complete Outsourced Finance and Accounting Function

As a business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits!

We develop computer based accounting system for your business and support data capture, posting and regular update. Our month end support include preparation of the following reports to aid decision making;

  • Reconcile your bank account(s)
  • Generate income statement
  • Generate a statement of financial position
  • Reconcile all your general ledger accounts
  • Provide unlimited consultations as and whenever needed

These tasks form the solid foundation of your business bookkeeping and accounting system. In a addition we provide  payroll processing including preparation and remission of all statutory taxes, tax returns preparation and submission to KRA these include VAT, Corporate tax, Turnover tax, Withholding Tax and any other related services.

Reconciling your business checking account each month allow us to keep your bank account, accounting, and taxes up-to-date.

Having us reconcile your account each month allows you to.

  • Identify lost checks, lost deposits and unauthorized electronic transactions.
  • Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
  • Detect and prevent embezzlement of funds from within your business.
  • Know how your business is doing. You can’t really know unless all accounts are reconciled and properly accounted for on your financial statement.
  • Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
  • Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your business of responsibility for the fraud and transfer the risk to the bank. Monthly reconciliation should be enough to prevent fraud on your account.
  • Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all accounts, checks and disbursed funds are properly accounted for.

An income statement, also known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.

An income statement allows you to;

  • Track revenues and expenses so that you can determine the operating performance of your business.
  • Determine what areas of your business are over-budget or under-budget.
  • Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
  • Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
  • Determine your income tax liability.

A balance sheet helps you;

  • Quickly get a handle on the financial strength and capabilities of your business.
  • Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables (debtors) cycle is lengthening, maybe you can collect your receivables more aggressively.
  • Determine if your business is in a position to expand and ascertain if your business can easily handle the normal financial in- flows and outflows of revenues and expenses.
  • Determine if you need to take immediate steps to improve cash reserves if your business has been slowing down payables (creditors) to forestall any cash shortage that may starve your business of working capital.

Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.

The general ledger is the core of your company’s financial records. These records constitute the central “books” of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.

Having us review your general ledger system each month allows us to identify and clean out any discrepancies such as double billings or any unrecorded payments. Then we fix the discrepancies so your books are always accurate and kept in tip top shape.

We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Our consultations are free for our clients, so please feel free to call us whenever you have a question or concern.