Accounting

The rates for accounting and bookkeeping services in Hong Kong depend on the size of your business and the scope of your needs. Generally, accounting and bookkeeping services in Hong Kong should cost between HK$2,500 to HK$5,000 per month, for a reputable provider.

As with all corporate services, there are cheaper and more expensive options. Cheaper options may have lower upfront investments – but will likely cost your business more time and effort in the long run, especially as you scale your business and your accounting needs become more complex. Thus, it is better to seek professional advice from reputable accounting service provider like BoardRoom to properly assess your company’s accounting requirements.

Bookkeeping companies like BoardRoom ensure that a company’s expenditures, income, and transactions are all recorded in the company’s financial books. They can also prepare any necessary management reports and year-end statutory financial statements, handle payroll, filing of invoices, bank reconciliations, assist in annual audit processes, and much more.

Whether you’re running a startup or a large MNC, you will be able to find value in professional accounting services. Having a competent outsourcing accounting service provider can deliver valuable insights and analysis on the financial health of your company. They will provide a precise report of your monthly cash flow, spot opportunities for business growth, and help you stay organised.

Accounting outsourcing is when you employ a dedicated accounting or corporate services firm to handle your accounting matters. By leaving this work to them, you eliminate the need to hire in-house experts and can spend more of your time, energy and effort on growing your business. A firm like BoardRoom has a team of chartered accountants behind their work, offering professional services that seamlessly integrate with your business operations.

Outsourcing your business’ accounts has several advantages. If you are a smaller company, it might not be worth your while to hire an in-house full-time accountant. For larger companies, this solution can place a considerable strain on your internal organisation and costs due to the sheer volume of administrative work. Outsourcing your finance operations to a company like BoardRoom, which specialises in accounting and bookkeeping services, can help reduce the administrative burden, so your finance team can focus on what’s important to grow your business.

With a team of professional and chartered accountants, BoardRoom offers a range of accounting services that are more efficient, cost-effective, and quicker than handling everything internally.

There is never a bad time to outsource your accounting management. Both startups and large MNCs can benefit greatly from outsourcing their accounting at any stage of their business. Newer businesses will benefit from the help of experts when they cannot justify hiring an experienced employee, while larger companies may consider outsourcing to an expert firm when they are looking at lowering costs and overheads.

However, many companies decide to outsource their accounting tasks when they plan to grow and scale their operations at a fast pace. There may also be a need to outsource should you be facing difficulties internally with staying ahead of accounting compliance matters. Difficulty in hiring qualified accountants to fulfil your finance needs can be a tell-tale sign that it may be the right time to consider outsourcing your accounting management. Companies like BoardRoom can easily accommodate your growing needs, all the while maintaining accuracy and a professional standard of service.

Professional bookkeeping and accounting services are necessary in order to gain an accurate understanding of where your business sits financially. This is vital for spotting areas of potential growth, and planning ahead to run a successful business.

Staying compliant is also an essential aspect. Keeping ahead of tax, accounting and bookkeeping regulations is imperative if you want to run a reputable business without headaches from regulatory authorities further down the line. By keeping accurate bookkeeping, you can avoid accounting and tax breaches which usually result in hefty fines and penalties by regulators.

BoardRoom can help with a variety of accounting services, keeping you compliant in the face of ever-changing regulations. Our team of chartered accountants have decades of cumulative experience in the field, and are able to craft personalised plans for your business that streamline your accounting functions. Get in touch with us to learn more about how our accounting services can benefit your business specifically.