Outsourcing

OUTSOURCING

Offshore delivery model and virtual teaming have made it possible to operate in developed and developing markets in a cost-competitive manner. The strong experience our partners gained from one of the Big 4 accounting firms in setting up offshore delivery teams coupled with the 33 years history of JAKS & Associates in delivering accounting outsourcing makes us a perfect partner for your outsourcing needs.

We deliver our outsourcing services to individual business who has eyes on expertise and quality rather than the lower cost, as well as our accounting and consulting partners who wants to stabilise their practice with low cost-high quality back office supports.

1.    Outsourcing for Accountants

Your one stop solution for all accounting services including book keeping, updating accounts in your accounting software, preparation of financial statements and reports, VAT/GST returns, filing of personal and corporate taxes. We provide end-to-end outsourced accounting services to firms across the US, the UK, Middle East and Australia. Our team at JAKS can support your firm from book keeping to filing of VAT/GST returns to filing of personal tax and corporate tax, thus giving you the time to explore the market and expand the business.

2. Outsourcing for Business Entities

 

Our outsourcing services for business entities help you run your business better and more efficiently. Working with our expert team you will no longer have to worry about your books of accounts, compliance needs and credit management. We undertake services from basic bookkeeping to credit control and statutory compliance. Other advantages of outsourcing to us include that you do not have to any longer  worry about employee turnover, recruiting the right candidate and other expense associated with having a dedicate team. Our team of experts will manage your day to day affairs and keep you posted as to what minimal tasks you have to do for to keep it running for the business from the finance perspective.

Services that we provide: 

  1. Bookkeeping

Our dedicated team are trained and well experienced in preparing detailed financials from minimal documents. Our team will be able to meet your clients bookkeeping needs, from requesting data, processing and reporting, so you do not have to be worried about the job and yet have a happy client.

What we need

  1. Purchase and sales bills
  2. Banks statements
  3. credit card statements
  4. expenses invoices/ bills

 

  1. VAT/ GST returns

Keeping track of your clients VAT/ GST deadlines can be a stressful task. Your clients may have the tendency to wait till the last moment to send their books of accounts. This puts you on your feet during last few days before the deadline. With most countries moving to a trend of mandating the use of accounting software’s, like Making Tax Digital (MTD)  in the U.K, your clients will have to be on an accounting software. We can ensure that your clients send us the information in time and even if they don’t in time, our dedicated bookkeepers will make sure your clients meet their deadlines.

What we need

  1. Updated accounting software back up
  2. Copy of last filed VAT/GST return

 

  1. Payroll

Outsourcing your payroll services is an effective way to make notable cuts on your operating expenses, to reduce stress and mitigate your risk. We provide a complete payroll service tailored to each of your client’s requirements. Payroll can be a real undertaking for an accounting firm since you need to retain your team for a longer term to ensure the skill set stays with you, while working in an environment of unceasing growth and development. Our team  will manage your entire payroll process to make it more secure, timely and make sure that your clients meet their responsibilities and you meet your responsibility to them.

What we need

  1. Employer summary
  2. Employee pay slip
  3. previous month working file (only for the first month of outsourcing)

 

  1. Management Accounting

Management accounting is the next step after basic bookkeeping. Your bookkeeping clients will be able to understand and better run their business with a periodic management report. While your smaller clients prefer short and brief reports, the bigger business will need detailed and structured management reports. Our expert team understands and acknowledges this distinction and will ensure that this need is not overlooked.

  1. Updated Accounting Software

 

  1. Year-end Statutory Accounts and compliance

Our team can support you in generating annual accounts for your clients, finalise accounts in the accounting software that is used by your clients, finalise the tax computation and file it.

What we need

  1. Invoices and documents for current year accounts and tax
  2. Previous year working file and annexures

 

  1. Accounts Payable

Our team of accountants and bookkeepers will support you by managing your business accounts payables, from purchase order processing to processing payments on due dates. You’ll receive periodic (weekly or monthly) aging report to keep track of your payables.

What we need

  1. Access to invoices and other documents
  2. ‘Initiator’ access to your banks online banking platform (to process payment till approval stage)
  3. Access to correspond with your vendor

 

  1. Accounts Receivable

Our team of expert accountants will monitor and track your accounts receivable so your business can run smoothly with a good cash flow system in place. We cover from invoicing to follow up for collection. You’ll receive periodic (weekly or monthly) aging report to keep track of your receivables.

What we need

  1. Access to bank feed or statements to monitor fund coming in and apportion them to different business debtors
  2. Access to correspond with your customers to invoice and follow up on collections

Why us

  1. A team of professional experts

We are a firm of Chartered Accountants with 14 partners and 100+ staff with over 32 years of experience in the market. We have a dedicated team for outsourcing which are led by professional Chartered Accountants and the firm has clientelle presence across the globe including the US, UK, Canada, Middle East, Hong Kong and Australia

  1. Data Security

Being a professional firm of Chartered Accountants, we best understand the need for data security more than anything. We have systems and processes in place to ensure that Data security is ensured and we are ISO Standards complaint

  1. Accounting Packages

Ours is a team who is well versed in most of the latest online and desktop versions of the accounting softwares including QuickBooks, Sage, MYOB, Xero. We can help you update your accounts in the accounting software of your  or your client’s choice