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Accounting Service

Accounting Service

Hit#  1386

GoodNewAuditor & Ac Firm: our high governance Way lead direct to MBRS►Auditor Report effectively! 


What is Meaningful Ac Service?
Its Objectives


Start~Finish Long Life Solution 
Valued Strategic Biz Management

Data Safe: smart Support & free Cloud
Protect against Fines at Tax Audit
not just for Tax Filing or Auditing!

 

Benefits from our on-off site service

  • Complete Professional System to support all work eg Payroll.
  • Data kept On-Site so that Manager can use data to manage
  • Owner enjoy Life Time control of continous Easy Fast Accounting work
  • Owner know business to answer Tax Audit click ►read Tax Audit
  • Tax Agent Yearly Audit to ensure effective protection at Tax Audit
  • Entries checked and tracked to On-Site Filing System without loss of documents.
  • Fully supported by Off-Site Staff (retirees) to tackle complex accounting & legislative issues
  • Continuity of work is ensured by integrating HR with On-Site & Off-Site system, click ►read our Data Safe IT integration.

 

 

What are the On-Site jobs?

Easy Fast routine to ensure operations can be managed on-Site effectively

  • Maintain Bank Book to control Cash Flow
  • Enter Sales Transactions to ensure Credit Control On-Site
  • Review Statement & Aging to effect Credit Control
  • Manage inter transfer of database between On-Site & Off-Site for checking by Off-Site support.

By Service Provider

  • Implement & Manage free On-Site System
  • Missing Accounts: Transfer data from existing App or rebuild .. headache! !
  • Manage Filing of tracking documents according to agreed scheme.
  • Train On-Site personnel to follow SOP & use system with First Aid to become IT savvy.

What are the Off-Site jobs?

To control to ensure i) compliance of all legislation + deadlines  ii) life long continuity of easy accounting process

  • Check On-Site monthly entries to system via common transferrable database
  • Ensure all legal deadline are met eg CP204, PCB, EPF etc
  • Do Tax Filing & other Tax requirments under Tax Planning & Management
  • Ensure trackable Filing of transaction documents for Tax Audit & management
  • Manage Final Accounts with Tax Planning

For limited companies (Sdn Bhd)

  • Prepare Auditor Report  & manage Auditors
  • Manage Secretarial requirments with Company Secretary

 

 

 

         pit12

Basic LAN local area network System             
         (auto parts inventory)

Experienced HR Supervision is a Must 

Why choose a LAN system?  (not Wide Area Network WAN)

  • Multi user ie more than 1 user
  • This will allow Effective Data Protection ie 2nd PC will auto backup the Server 
  • Hardware Failure can be easily resolved by switching Server & 2nd PC (Help First Aid will explain how to do it)
  • Allow for Remote Access by experienced Ac Support to monitor errors & also keep duplicate records.

What makes effective Supervison?

  1. Organization of Staff with work assignment under the overall management by Objectives 
  2. All workers understand the company's Manage By Objectives
  3. All workers know how to ensure minimal errors by fast total checking based on what is in the Apps
  4. Supervision of work by Off-Site Zero-Turnover Retirees who have duplicate of what is done in the office.
  5. Effective web communication between On-Off Site using free Cloud Facilities
  6. Proper Filing System is in place to support tracking of work 

Structured Integration of IT (not just App), HR, SOP & smart coding reduce errors and ensures high Productivity

Auto parts Inventory Control is complex discipline

What normally goes wrong in SKU management?

  • Control in issuing of Codes to avoid errors eg more than one code for the same item.
  • With Group & Sub Group of Items, the final 3 part Codes with Hierarchy has more meaning.
  • Simple coding of fixed length supported by bar codes to ensure entry is correct.
  • Use short codes for easy understanding to use.  Important minimize number of codes by Group ie staff remember Group to get to the item.
  • Picture of item is not useful if staff do not understand the spare parts to see its distinct mark.
  • There is always Human error in data entry especially Free typing makes plenty of mistakes
  • App must have data entry constraints to minimize errors eg extensive use of Drop Down Selection.
  • Do not do Stock Taking to check actual stock agrees with booking record.   Stock taking with rushing & stock reconcilation for Cut Off point makes many mistakes.
  • The best way is to use Pepetual Stocking taking when there is a stock change event, buy, sell, return.
  • Proper layout of store location assigned to items ensure easy counting & control
  • System must have meaningful Reports on goods In / Out, Returns & Rejects.

What is the Right way to Start up an App?  go

  1. Once system start it must continue to be updated on all new transactions
  2. Old transactions can be built back slowly with a cut off point.
  3. All transactions include Purchase, Sales, Cash & Bank must continue ie keeping a full set of accounts.
  4. Filing System must be established from Start as the record is permanent
  5. System & staff may not be complete but entries must be complete.

How to Start Right with Stock that use Pepetual Inventory way

  1. Once system start it must continue to be updated on all transactions (buy/sell) all the time
  2. At each entry of transactions, actual stock must be counted, recorded and properly layout ie pepetual stock taking.
  3. Structure of Coding of Products must be clearly set up to minimize list of codes
  4. Coding Structure once decided must be clearly understood & maintain to avoid the serious mistake of having more than one code for the same product item.

 

 

stress

App must have these to work effectively:

  • A clear environment for junior staff to learn on the job thus will stay on.
  • An optimal supported IT environment that staff can learn to be IT savvy
  • A rationalized Filing System to keep data safe with backup or duplication of database.
  • Well planned & extensive Procedures to coordinate all jobs - Start Right End Right
  • Senior Off-Site Supervision to ensure Accuracy, High Productivity & Work up to date
  • Senior Off-Site Support to protect your business Continuity.

 

Compare your
Service Provider

Years of Peace
a life time multi multidisciplinary biz partner

 

Meaningful Ac Service with us
Safe & Peacefull

  1. Developer with ability to solve all database issues
  2. Unlimited evolving On-Off site interTransfer Apps
  3. All support possible: see this website from IT to Management,

 

Hidden Woes

 

Typical Ac Service in the market
Unstable Woes

  1. App User controlled & depend on Developer unable to solve database issues, click ► Off Shelf App problems
  2. Provide either On-Site or Off-Site way, not both ↔ interTransferrable
  3. They too have HR staff continuity problem due to low salaries paid.

 

Stop using the wrong way for Accounting

  funway  Get the correct way for accounting

appisle1
Just One Clerkbad
warning  appisle1

Just One App bad

  • Lack of Accounting knowledge creates mess, App alone cannot solve this problem
  • Checking is poor due to lack of staff & no self checking SOP
  • Statutory compliance is lacking due improperly trained staff
  • Office Staff turnover for small companies is very high, creates instablity & bad continuity headache  

 

good App with One supervised Clerk & SOP +
+ Long Term Backup support ==
good Our way will work


 

 

 

 

 

Do you have the right Admin / Accounting Staff and Auditor?

 

Even permanent staff need correct superision & backup (in case of staff leaving)

Check List during Monthly Accounting

Wrong: Over focus on Profit & Program (Balance Sheet is key)

  1. Monthly aging List of Debtors (owing to you) vs prioritized Creditors
  2. Simple current month Cash Flow & next month forecast & important statutory Dues eg CP204
  3. Fast checking based on control totals .. (not to waste time to recheck all entries or pick on small human mistakes)
  4. Proper filing of supporting documents for easy tax audit tracking (maintain minimum 7 years)
  5. Use meaningful chart of accounts to highlight gross profit & overheads ( not alphabetical list)

Exercise due care in selecting competent Accounting staff & Auditor.   Get the correct Advice to enable you to meet long term objectives at a reasonable cost.

Check List at Audit Transfer

Wrong: Too dependent on Auditor

  1. Trial balance & detailed final accounts; Balance Sheet is the main focus, not profit statement.
  2. Supporting schedule of all BS accounts.
  3. Annual clean up of obsolete or inactive Balance Sheet ledger.
  4. Detailed Listing of all Ledger accounts for Audit
  5. Tax status in terms of stock & unfinished jobs

These are the same neccessary output when handing over Accounts to another person.

     Audit Clerks & Auditor Check:

  • They can be petty over definition of Chart of Accounts: unnecessary closing journals.
  • They have no empathy towards the shareholder hardship especially sole owner.
  • They have no real understanding of the various type of business.
 

 

◄Back to portsum1 Biz Practices

 

Date

24 October 2020

Tags

MBRS.Service

Bosses' Worries

  • Cash Flow, AP/AR Aging, CBT
  • SST/GST Accounting & Returns
  • Salary/Daily Workers Accounts
  • Tax Estimation CP204/500
  • Operation/Project: Gross Profit%
  • Staffing / HR Turnover Problems
  • Legal Deadline, Comply & Fines
  • Government Audit (Tax/GST/SST)
  • Operation Control (HR/Reports)
  • Future of your Business . SWOT

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