Financial & tax advisory.

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Every company in China is required to maintain a proper accounting and tax record according to PRC standards. Beijing Retail's partners provides professional part-time accounting and tax planning services to help you efficiently manage and set up your legal structure in China.

Taxes must be paid monthly (business tax, individual income tax) and quarterly (corporate income tax). Our accountants can work together with your local officer to ensure the proper tax reporting methods are being used to your advantage.

3 Steps in Documentation Preparation (Accounting)

Compile data
Prepare documents
Analyze


Each week, at your convenience, our accountant can collect the required information from you (invoices, receipts, and bills). We input the data into our accounting system to generate a tailor-made accounting book for all of your transactions (double entry book keeping). Every month we provide management accounts (in both English and Chinese) including your balance sheet, profit and loss account, and cash flow statement. Once the accounts are formed we analyze the documents and offer to you our insights and recommendations. A more detailed account of the work done is listed below.

Essential Tasks
  1. Create financial policy of company in accordance with the PRC laws and regulations.

  2. Create accounting books in accordance with the accounting standards required by PRC laws and regulations.

  3. Provide accounting and tax instruments for financial statement preparation and bank account reconciliation.

Supporting Tasks
  1. Liaise and physically be present in the company one day a month to examine accounting documents.

  2. Review accounting documents, create accounting reports, document cash and deposit registers for the proper book-keeping.

  3. Send project report and cash and deposit registers to the company regularly.

  4. Compile bank and other financial statements each month.

  5. Calculate taxes (tax items include: Individual income tax, Business tax, Enterprise income tax, Stamp tax, etc.), complete relevant declaration forms, and report to company for confirmation.

  6. Analyze expenditure cycle and create a report of all expenses and reimbursements.

  7. Settle taxes at the beginning of each month and complete tax declaration documents.

  8. Study and reprocess the inventory cycle procedures to create a simplified and accessible system for future stock management.

  9. Constant meet with project manager and company administration to understand problems during engagement period.

  10. Obtain tax bureau approval for the special business tax invoices. Purchase Business tax invoice according to monthly business development.

  11. Business advisory consulting regarding revenue cycle, taking into consideration credit assessment, sales processing, account billing, and collected accounts receivables.