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ACCOUNTING &

BOOKKEEPING SERVICES

Background

Accounting is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss (details of revenues and expenses) for a given period, and the value and nature of a firm's assets, liabilities and owners' equity.

 

Every business needs robust accounting and bookkeeping functions not only to know the results of their operations but also to meet certain legal requirements such as filing of annual returns and taxation. On the other hand most business owners are keen to attend to the business and revenue generating functions of a company. Nestor will provide such owners peace of mind to outsource their accounting and bookkeeping functions and get the work done by professionals.

The Challenge

The challenges faced by business in startup and growth phases are;

 

  1. Less time to concentrate on non-revenue generating functions

  2. Involvement of high costs to setup full accounting and bookkeeping functions in house managed by Chartered Accountants

  3. Higher costs and time involved in selection and implementation of appropriate accounting software

  4. Delayed financial closings

  5. Inaccurate financial information presented to senior management and external parties

  6. No control over invoicing and creditors

  7. Unreconciled balances between banks, debtors and suppliers

  8. In case of group companies, unreconciled intra group balances and challenges of transfer pricing and consolidations

  9. Poor data retrieval in case of supporting documents and for analysis

  10. Delays and difficulties in conduct and finalization of external audits on time

Solution by ABL

ABL understands these difficulties and challenges faced by most business at one stage or another. Our 360 degree accounting and bookkeeping service is designed to address all these problems and provide smooth operations of back office functions to support revenue generation. Our services include;

 

  • Setting up an adequate accounting function

  • Suggesting a suitable accounting software (cloud based or local hosted) and its implementation

  • Setting up chart of accounts

  • Setting up accounting policies and procedures

  • Putting team on ground to record, summarize and present all financial information

  • Meeting tough deadlines is one of key specialty of ABL team

  • Performance of all reconciliation between banks, intra group balances, debtors and creditors

  • Always providing accurate information in the least possible time

  • Close coordination with your auditors to provide timely data and ensure smooth conduct of audits

  • Cost effective services directed and monitored by experienced Chartered Accountants

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