A recent survey from YouGov revealed that more than 70% of entrepreneurs spend over 90 hours per year on accounting only.
90 hours!
This is just wrong.
The only way to grow your business is to focus on finding and serving clients.
You should stay away from admin time-sinks by passing it to professionals you can trust.
There are basically 3 ways to handle the bookkeeping and accounting for your Hong Kong Company.
Wait until the end of the year
You basically wait until the end of the year to deal with your accounting. It is fine if your company has very few transactions. But it is otherwise not a good idea. Why? simply because you will not remember in November what happened with your Hong Kong company in January.
Also, when you wait until the end of the year, the work will be done in a rush with little room for tax planning and optimization.
Solo accounting software
Once you realize that waiting until the end of the year way is not a good option, you will be tempted to take an accounting software to keep track of your accounting and bookkeeping all year long.
That is a good idea, but these software programs can be complicated to use. As a result, you may end up spending a lot of time working just inputting your invoices and other records into the accounting software that you chose. Sometimes, your accountant will even tell you at the end of the year that you made mistakes using the software and that part of the work needs to be done again.
Monthly bookkeeping and accounting packages
The idea is simple: we give you access to your own dedicated professional accountant, available for you each day, but without the trouble or cost of having an accountant in-house on your payroll.
When you use our service, your accountant will do many things to make your life easier: such as sending your invoices, matching transactions with your bank statements, prepare your monthly expense reports, prepare payroll and MPF filings if you have employees or prepare your financial statements.
All this using a top-notch cloud accounting software that you can access anytime.
Communication with your accountant is easy through whatsapp or email. And when any information or document regarding your accounting is missing, your accountant will simply chase you.
Tax planning and optimization
Finally, because accounting does not make much sense without looking at tax matters, our monthly accounting package includes two conference calls each year to help with your Hong Kong company’s tax planning and optimization.
Do not look further if you want efficiency and peace of mind for your Hong Kong company bookkeeping and accounting.
Are you ready to let go of all the admin headaches? Switch to Air Corporate today and enjoy your freedom from admin.
