Accounting and bookkeeping
Bookkeeping is worth something when it can be relied on during an assessment. Our job is to keep your ledgers in that condition all year, not only at filing time.
What you receive
Statutory ledgers
Daily posting in your software or ours, with a defined and traceable chart of accounts.
Monthly close and management report
By the 15th of each month, last month's trial balance plus a one-page analysis is on your desk.
Bank and control account reconciliation
Monthly matching of bank statements, petty cash, receivables and payables.
Year-end financial statements
Statement of financial position, income statement, cash flow statement and notes, under Standard 1 as revised in 2018.
Chart of accounts design
Account structures that produce a usable management report and still reconcile to the tax return.
Where we come in
Most companies that come to us already have books. Those books usually have two problems in common: entries posted without supporting documents, and account headings that do not line up with what gets declared on the return. Both cost money under assessment.
We start with a status review: the current chart of accounts, the last three months of entries, and the most recent assessment notice. The output is a specific list of what needs correcting and in what order.
Which software we work in
Yours. If you do not have one, or the current one is not coping, we put the options on the table with the cost and limitation of each and you choose. We take no commission from any vendor.
Common questions
Our books are several years behind. Will you still take it on?
Yes. We start from the last year that was assessed and work forward. Before we begin we give you a separate time and cost estimate for each year.
We have an in-house accountant. Do we still need you?
In many companies yes, but not as a replacement. The in-house accountant handles daily posting while we take on period close, reconciliation and the financial statements.
How do we get documents to you?
A legible scan or photograph is enough. For Tehran-based clients a courier collects physical documents every two weeks.