Category Archives: Outsource Accounting Services

Business Ideas Business Plan Outsource Accounting Services

Tips for Outsourcing Accounting Services in Kenya

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Outsourced Accounting Services Kenya May 2015

Outsourced Accounting Services Kenya May 2015

Today,Outsourcing accounting services in Kenya is not new. It has become the trending practice of small businesses that aim to grow rapidly without going through a lot of hurdles. Entrepreneurs grow their business by driving revenue into the company. Business, per se, is all about making money.

Due to this, a lot of entrepreneurs unintentionally ignore their accounting tasks that are equally crucial to the overall performance of their business. It’s either they lack the time or expertise to handle this area in their business. Because of this, entrepreneurs face a dilemma of whether outsourcing accounting services is worth their investment to simplify business processes or not.Here are three Ways Outsourcing Accounting Services in Kenya might help grow your small business.

Outsourcing Accounting Services Helps You Form Good Business Habits

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Business Ideas Business Plan OFC Business Club Kenya Outsource Accounting Services

KRA iTax Monthly Returns in Kenya

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KRA iTax 2014 Returns

KRA iTax 2014 Returns

I am reliably informed that the deadline for the KRA iTax Monthly Returns in Kenya has not been changed. Remember that you must do in ONLINE via the KRA iTax platform with effect from 1st August 2015.

But perhaps you are asking,what is iTax? iTax is the system that has been developed to replace the previous KRA Online system . It is a web-enabled and secure application system that provides a fully-integrated and automated solution for administration of domestic taxes in Kenya.

Why KRA iTax Monthly Returns in Kenya?

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Outsource Accounting Services

Outsourcing Accounting Services in Kenya

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Outsourcing Accounting Services in Kenya

Outsourcing Accounting Services in Kenya

Outsourcing accounting services in Kenya is a critical objective for all business regardless of size. It helps in ensuring that there is consistency in all activities in the business. Efficiency in the accounting department is one most overlooked factor but which in the long run tends to frustrate business if not well maintained.

Set-Up for Outsourcing Accounting Services in Kenya

We begin our engagement with a set-up of accounting procedure to capture all activities within the business. This will be in line with International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS)

At this stage, we;

  1. Set up the accounting system that will be in use- This involves the development of a system that will provide the required management reports based on the type of firm (industry) and the unique requirements of the client.
  2. Develop the chart of Accounts- This involves determination of the types of accounts (output) that will be required for the business to capture all data.
  3. Opening of Ledgers – Here we open the general ledger and the sub-ledgers that will be required for the business in line with charts of accounts earlier developed.
  4. Drafting the first trial balance- This is done to capture all the asset and liabilities existing upon commencement of the engagement.

Tips for Outsourcing Accounting Services in Kenya

It is therefore important for you to keenly evaluate the future of your accounting department in regard to consistency, efficiency, and expertise. By hiring ACDE to deal with your accounting needs you will have made a strategic step towards success in your business. This is because your accounting department will be professionally handled by experienced professionals who are otherwise not easily available for long term involvements for SMEs. You will therefore be able to focus on strategic objectives without worrying about competence and human resource challenges in accounting. Given an opportunity, we will assure you with our outstanding expertise and effectiveness that you will no longer waste resources in hiring and training, or dealing with incompetent staff in your accounting department. CERTIFIED PUBLIC ACCOUNTANT

Contact Us

Visit: OUTSOURCING ACCOUNTING SERVICES IN KENYA

Or Call Daniel +254 722 281679 or Julius +254 720 991001

Or write to us through: info@acdigitalentrepreneurship.com

 

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