Accounting and Tax Consulting

Almost every firm in any jurisdiction is required to create and submit some financial statements to government authorities in the operating country. As a result, global companies must grasp the financial statement criteria of the incorporation country to comply with the government’s regulations.

Outsourcing professional accounting services for your business will give you with several advantages that will enhance productivity and income in the long term. Trade Hub’s team of international consultants has knowledge in accounting and tax rules, as well as hands-on experience, to deliver realistic answers to complicated issues, whether expanding into new markets or restructuring operations and structures.

Let Trade Hub analyze the benefits of outsourcing professional tax – accounting consulting service and show you how we can support your global company.

1. Top reasons to outsource Tax & Accounting services

1.1 Helps your company save money

Outsourcing accounting services might save money on paying salary and benefits to a full-time employee, according to the rule of thumb. Typically, you must pay an employee even if there is no work to be done. However, when you outsource accounting services, you will only pay for what you require. In the long run, business owners will save a lot of money that could have been utilized to pay your accountant’s salary and compensation.

1.2 Maintains your focus

Outsourcing expert accounting services for your business will help you stay on top of all business costs and financial progress. Hiring a professional to handle your money reduces the possibility of your firm being in financial jeopardy since mistakes are avoided. Accounting records are critical to the success of any company. It does not only record sales, expenses, and sales but it also keeps track of your financial transactions. Accounting services will assist you to forecast prospective economic benefits or losses in this instance.

1.3 Assist you with your taxation concerns

If you are unfamiliar with how the system works, tax paperwork can be quite tiresome and complex. Hiring accounting services can assist in keeping things in order. Professional accountants are highly qualified and have extensive knowledge in tax concerns, and they will ensure that your business complies with tax requirements. A competent accountant will guide and advise you on tax-related decisions or concerns in addition to working on your taxes.

1.4 Control your financial flow

Cash is the most important aspect of every business’s survival. Money may influence whether or not your company survives. Accounting may be pushed to the bottom of the priority list during times of rapid expansion. In this instance, you may not have the opportunity to manage collections or analyze reports, and you will be bankrupt before you know it. A lack of adequate cash flow management may be extremely harmful and can push you out of company without your knowledge. Outsourcing accounting services may be quite useful in this situation since it allows you to manage your cash flow properly.

1.5 On-time payment

Accounting services provided by a third party can ensure that your invoices are paid on time. Pay your bills on time or you will have a difficult time dealing with disgruntled merchants and may even forfeit discounts. On the other side, a delay in invoicing might affect your company’s cash flow. Your bills and payments are made on time with a specialized accounting team, putting your firm in a highly healthy situation.

2. Trade Hub supports your business with one-stop service

The financial – accounting – digital solutions will be designed based on the needs of each organization as follows:

• Monthly or yearly financial – accounting report preparation
• Using QuickBooks software, you may manage your financial – accounting condition.

2.1 Monthly or yearly financial – accounting report preparation

The package of financial statements must comprise the following items, according to each country’s financial – accounting report regulations. Because each country’s legislation change, the standard may vary, however several reports, such as:

• Income Statement;
• Balance Sheet;
• Cash Flow Statement;
• Change In Equity;
• Account Balance Sheet;
• Account Ledger.

2.2 Accounting and financial management with QuickBooks software

Trade Hub is pleased to present you to the most optimum financial – accounting – digital solution: QuickBooks accounting software, to aid you in your company’s financial – accounting administration in a more rational and faster manner than using Excel for manual data input. This is one of the most dependable and successful company management tools, with over 3.4 million small and medium-sized businesses worldwide relying on it.

Businesses may use QuickBooks to quickly track and update changes in their business using the following specific features:

• Automatic cross-device synchronization: QuickBooks is available to business owners/accountants on any device and from any location.
• Financial – accounting reports that are comprehensive and consistent: Business owners will be able to interpret the report data even if they lack in-depth accounting knowledge.
• Confidentiality: QuickBooks is proud to provide you the highest level of security in the course of your business, thanks to its partnership with Norton Security from Digicert.

3. Our approach to tax - accounting consulting solution for your business

Tax, legal, and regulatory developments all around the world are having a growing impact on multinational corporations. Understanding the influence of these advancements on corporate operations and cross-border transactions is critical to a company’s success. Not many firms may grasp all of the requirements governing financial accounting reports, as well as the distinctions between these reports when submitted to various authorities (such as governmental agencies, international banks, PayPal, etc.).

As a result, requesting assistance from a business consultant with extensive expertise and specialization in the field of financial – accounting – digital solutions is the most optimum and timely option.

Trade hub provides general advice on the interpretation and implementation of tax legislation, local and international tax structuring, tax advise on inbound and outbound investment, corporate income tax, VAT, royalties, and so on.

Furthermore, Trade hub international structuring division has extensive expertise dealing with these changes as well as all elements of foreign taxation. Our experts can assist you in structuring your firm to be tax-efficient both locally and abroad. Let’s see how we can support you in the next following tasks:

• Assistance in determining the most tax-efficient ownership, management, and operations structure
• Analysis of tax structures and transactions to ensure that double tax treaties are being applied correctly
• Profit repatriation in structures
• Contracts and other fundamental documents are reviewed from a tax standpoint in order to discover possible areas of tax planning
• Assistance in evaluating the expenses of adopting new solutions as well as identifying possible tax planning areas
• Advisory on the tax elements of foreign corporations operating in Mongolia and Mongolian businesses operating abroad.
• Examining and analyzing cross-border transactions and payments.

Step 4: Based on the information supplied, Trade Hub will create the yearly financial statements.

Step 5: Once the preparation is complete, Trade Hub will deliver the yearly financial statements to the Company for additional evaluation and approval.

Step 6: Once you have given your consent, Trade Hub will submit the yearly financial accounts with you for your keeping.

4. Trade Hub's monthly accounting service

Monthly accounting and financial reporting services are best suited for: Businesses that conduct a significant number of transactions and require detailed monthly internal control (income and expense, payment, profit, and so on). Trade Hub will generate reports for the firm to review, retain records, and balance revenue – spending at the end of each month or quarter. Whenever you want taxes advice throughout the course of the company’s operations, please call Trade Hub.

• What else can we support you?
• Advice on providing invoices/contracts to customers
• Input and output invoice collection and data entry
• Publish reports on a regular (monthly or quarterly) or ad hoc basis.
• Advice on various tax and corporate accounting issues (general consultancy).
• Distribution of the most recent tax information/policies (if any).

Other services not included in Trade Hub’s monthly accounting service are:

• Assistance in writing business and labor contracts (Trade Hub exclusively provides consulting and the delivery of contract forms in accordance with BVI/Believe norms).
• Help with inventory accounting.

5. The accounting services pricing for global companies

The service cost for yearly and monthly accounting services for offshore corporations will be calculated based on the following factors:

• the number of transactions made by the organization,
• the total volume of incoming and outgoing payments
• the nature of the business and transactions, and other demands (if any).

For example: If your organization needs Trade Hub’s help sending bills, the service charge would be greater (the limit is 20 invoices per month). Corporations in Singapore/Hong Kong/Malaysia/the United States, like offshore companies in the BVI/Seychelles/Belize, must comply with and meet all tax authorities’ laws. As a result, Trade Hub will provide a year-end financial statement service package to any Singapore firms, Hong Kong companies, Malaysia companies, and so on that are looking for a reliable and professional partner at a reasonable price.

Furthermore, in order to aid you in actively managing the company’s operations and finances, we would like to introduce you to QuickBooks Online accounting software. QuickBooks Online is one of the most efficient administrative tools used by businesses. With all of QuickBooks Online’s outstanding capabilities, your global company may take proper management of the firm’s commercial condition without:

• Accounting expertise is required.
• Time and location restrictions apply.

6. The most ideal solution for global company

Obviously, producing accounting paperwork for global company is critical. However, few firm understands the needs of record-keeping and business status updating to the government laws and banks in Singapore. As a result, finding an one-stop solution from Trade Hub – a company consultant that understands financial – taxation rules and is capable of providing an ACCOUNTING – FINANCIAL – DIGITAL – is the most timely and best option.

To satisfy your specific demands today and in the future, we provide weekly, bi-monthly, monthly, and quarterly accounting solutions. Your needs will change as your company develops and expands, and we will replace them with you.

• We cover the fundamentals, such as tax and bookkeeping, but our packages also include frequent face-to-face meetings where we can review how your business is doing and provide suggestions on how to improve and optimize your accounting procedures.
• It’s also a time to discuss any changes in your business, prepare your tax requirements, and discuss any financial difficulties you might want to bring up, whether it’s as simple as leasing a car, budgeting your cashflow, or making major structural adjustments.