Accounting is simple as long as a proper system is set up at the start!
We provide comprehensive package of accounting services as below:
Accounting sytem set up
The accounting system set up is the first step of accounting tasks. Without proper accounting system in place, accounting functions will not smoothly run and will affect to organization operation as a whole. our package for accounting set up include:
System review and assessment to identify weaknesses
Develop and design accounting manual procedures which describe all accounting procedures and practices.
Prepre training materials and provision of training to client staff on accounting procedure manual or accounting software and tools.
Follow up after initial training during 3-12 months of implementation of the system
Our main steps are outlined in the figure below:
For setting of accounting software, we will set up all required functions relevant to client business operation so that after set up, client can start their accounting tasks immediately. Our set up will include:
Company profile and information
Enable functions relevant to company operation
Create and customize forms for invoices, quote, purchase order
Create Chart of accounts which align with Lao accounting system
Review and import list of customers, suppliers, products and services
We observed that capacity and skills of staff are important to your organization operation. Without well trained and skilled staff, your organization will expose to risks of errors in their financial reports, low performance, time consuming etc.,
it is not garantee that staff with new graduation or a few work experiences will add much value to your organization. They need a proper training on accounting practices. We offer a cusomized training to fit your needs. Our training and approaches include:
Training need assessment
Develop and design training materials
Provision of training on and off site
Provision of on the job training
Bookkeeping and reporting
At the beginning of 2016, the Ministry of Finance just endorsed the application of International Financial Reporting Standards (IFRS) for companies operated in Lao PDR. However the implementation is still a challenge. In this transition period to full application of IFRS, existing Lao accounting system is still applied especially for annual tax filing. Our service of bookkeeping and reporting include:
Review accounting transactions with supporting documents
Seeking clarification of accounting transactions from client if any
Assign proper account codes into each transaction
Enter accounting transactions into Lao accounting software or QuickBooks Online
Produce Monthly, Quarterly, Semi-Annually or Annually reports
Budgeting and financial management
We offer technical assistance in budget preparation especially for new project proposal as well as technical assistance for project financial management on a short term basis.