Accounting / Bookkeeping Services
Updated: Dec 23, 2020
How do you do bookkeeping services? How much does accounting services cost? What are accounting services? How much is monthly bookkeeping?
Is this your situation?
• Investing in Malaysia?
• Creating an entity?
• Wanting to reduce fixed costs?
• Wanting to focus on core deliverables instead of non-core activities?
• Fighting against the shortage and loss of talent?
• Struggling in a long and repetitive process?
• Not getting accurate, timely or high-quality information?
• Needing help to manage accounting records and meet statutory compliance requirements?
Business companies are facing a new and ever-changing business landscape, a business landscape that has no boundaries and competition is getting tighter in all areas. In order for businesses to meet these challenges and competition, they need to focus and concentrate on improving their core competencies. In this environment, businesses do not seek to perform each function internally but outsource these functions to other entities, whose competencies and expertise in particular enable these functions to be carried out efficiently, effectively and economically.
Bestar has the competence and expertise to help business organizations run services that are distracting to management if done in-house. We add value to the business organization's competitive advantage strategy by carrying out outsourcing services in the field of accounting thus freeing up valuable customer resources to focus on the core areas of the business organization and leaving the worries of non-core activities to Bestar.
Bestar provides a full accounting service for companies or businesses which do not wish to have this important function performed in-house. This could well be the case where, for example, the business is not of a scale where competent accounting professional staff can be engaged on a full time basis at a cost which is competitive. There is better use of financial resources for core business activities rather than investing on overheads, such as office space and computers.
We have a diversified portfolio of clients that include world renowned multinationals from the United States of America, Europe, Japan and the Asia Pacific, local blue chip public listed companies, as well as small and medium sized enterprises. Our clients are in all fields of commerce and industry, including manufacturing, financial services, conglomerates, trading, investments and high technology services.
How can we help?
We offer an array of business process outsourcing options to businesses whether they are small / medium sized companies, large multinationals, new start ups or established organisations.
Our team of experienced Accounting professionals provides practical and effective assistance in the area of accounting functions to enable timely satisfaction of statutory compliance requirements.
We offer a full range of accounting and financial services to growing and evolving businesses. Services include organizational, analytical, and recording services for the financial activities of a business, and the preparation of various reports covering the financial transaction life cycle (i.e., collecting source documents, recording transactions, closing books, and preparing reports for internal and external stakeholders).
Our Accounting / Bookkeeping services include:
- Set-up and maintain Charts of Accounts and General Ledger
- Recording of transactions on a daily basis for all balances in the financial statements.
- Preparation of financial statements (Profit and Loss Account, and Balance Sheet, and Trial Balance) and Management Accounts Reports to the format required by clients for internal and external requirements with a focus on management, corporate and statutory requirements, at periodic intervals, either monthly, quarterly, half yearly, or annually
- Drafting statutory financial statements and preparation of deferred tax computation at financial year end
- Reviewing and processing supplier and vendor invoices, financial and tax validation, recording of payments in the systems, and maintaining A/P aging reports.
- Uploading payments in the system, generating payment reports, preparing checks / transfer letters, and foreign exchange monetization per the relevant statutory or central bank formats.
- Processing of bill, credit, and debit notes based on the organization’s management instructions, recording these in the system, and maintaining collection reports.
- Processing documents relating to sales, collections and other transactions, and posting to General Ledgers, cash books and subsidiary accounts
- Accounts Receivable – data capture, collection processing and aged debtor report
- Accounts Payable – data capture, payment processing and aged creditor report. Processing documents relating to payments and other transactions, and posting to General Ledgers, cash books and subsidiary accounts
- Staff Expense Claims – data capture and perform audit checks according to company policies and procedures
- Fixed assets, inventory, cost accounting, budgeting, development of accounting practices and procedures. Fixed Asset – Compute depreciation and maintain Fixed Asset Register
- Liaising with clients’ auditors and tax agents for year-end audit and corporate tax filing, such as providing documentation for verification and coordination for field audit
In line with the implementation of SST (Sales & Service Tax), Bestar helps SST registered corporates and individuals to issue tax invoices and prepare draft SST returns to facilitate client’s submission to the authority.
Why do our clients choose Bestar
We believe our clients expect professionalism from us, and we take great pains to deliver this. Our staffs are professionally trained and qualified people with varying lengths of working experience. Every assignment for our clients is entrusted to a member of our staff who has the necessary knowledge and know-how to get the job done.
There is experience within the organization to provide solutions to the problems of our clients, irrespective of the level of complexity. In this regard, we have a solid base of professional expertise that is rarely rivaled.
Hand-in-hand with professional training and knowledge, we bring to our clients the accumulated wealth of experience of our organization. We have been in our business for decades, and have numerous precedents to draw upon to help in our work.
Additionally, our client profile that includes business entities of every kind and operating in all commerce and industries has given us invaluable exposure to different circumstances and situations. With this huge pool of experience, we add value for our clients by contributing to the formulation of solutions in an efficient and speedy manner.
If you would like to know more, please contact Bestar.