info@wmyuen.com 2545 8831

Bookkeeping Service

Section 51C of the Inland Revenue Ordinance requires every person carrying on a trade, profession or business in Hong Kong to keep sufficient records in the English or Chinese language of his income and expenditure to enable the assessable profits to be readily ascertained.

  • Such records shall be retained for a period of not less than 7 years.
  • Failure to comply with the requirements of the Ordinance without reasonable excuse may be liable to a maximum fine of $100,000.
  • The records prescribed in the Ordinance include books of accounts recording receipts and payments, vouchers, bank statements, invoices, receipts; records of the assets and liabilities; statements of trading stock, etc……

BOOKKEEPING

The Focus of Bookkeeping Services

  • preparing books of accounts monthly, quarterly or yearly;
  • managing old book of accounts.
  • preparing annual financial statements include Balance Sheet and Income Statement;
  • helping in setting up accounting system;
  • arranging stock-taking, etc.
Content of Bookkeeping Services
  • managing accounting materials, filing systematically and computerized bookkeeping;
  • preparing general ledgers, cash books, bank books, accounts receivable books and accounts payable books;
  • preparing statement of bank reconciliation;
  • preparing annual financial statements including Balance Sheet and Income Statement.