Content and Scope of Agency Accounting Services
授权 entrusting others to handle accounting can bring significant and immediate benefits, notably cost savings at the staff level. Especially since the new Labor Contract Law has been implemented, and with the ongoing rise in labor costs, saving on labor expenses is crucial. Notably, entrusting others to manage your accounting can provide your company with a systematic team of experts. You can enjoy the systematic services of multiple financial professionals for just a few hundred dollars.
The process of hiring an accounting agency in Shanghai typically includes five steps: accepting authorization, receiving invoices, bookkeeping, tax declaration, and telephone follow-up.
One, Present invoices (January 1st to 5th)
January 1-5, your company is required to assign dedicated personnel to collect the following long-standing invoices:
1. Current Cash Receipts: Including accommodation expenses, payroll slips, social insurance fees, office expenses, travel expense reimbursements, reception fees, communication fees, transportation costs, postage fees, etc.
2. Financial institution documents: including cash withdrawal slips, transfer forms, credit vouchers, wire transfers, deposit slips, loan forms, and bank reconciliation statements.
3. Tax Invoices and Details: Include all accounting links and invoice lists of tax invoices issued in January (with detailed tax payments and sales tax details), as well as the sales tax summary and detailed list. General taxpayers must also provide the tax invoice and deduction link for input tax.
4. Employee Information Content: Includes employee names, gender, ID card numbers, monthly salary amounts, etc.
5. Online Tax Filing U-Flash Drive (for customers presenting online tax filing)
7. Copies of the company's business license, tax registration, unified social credit code, and financial institution tax registration certificate.
Section 8: Company stamps and seals required on accounting documents and tax return forms (to be affixed by field staff during on-site financial accounting services).
9. Materials are required for other authorized agency matters.
Please print and retain a copy of the key initial invoices and documents that your company regularly reviews at your own location for easy access at any time. All invoices will be bound into a book and submitted to your company along with the annual financial report, budget, and income tax settlement after they are processed by the Finance Department.
II. Acceptance of Bills and Additional Fees (January 1-5)
Our company has assigned a field staff accountant to your company's designated address to prepare financial statements (with a handover list for clear handover), and to conduct a step-by-step sorting of the documents. Additionally, please have your company's agent expenses from last month delivered to our field staff accountant.
Section 3: Accounting Schedule (January 1-10)
Our company will assign a professional technical finance staff based on your company's business scope and regulations to provide you with account opening services. We will also handle tax declaration and tax payment management services consultation for your company. The accounting staff will further organize the documents submitted by your company and immediately communicate with relevant staff regarding any deficiencies in the documents.
The chief accountant reviews the accounting results of the ledger accountant, including approvals for document consistency, legality, accuracy in accounting resolution, tax calculation legality, and verification of receivables and payables. A precise evaluation is provided for potential risks in customer accounting issues. After ensuring all accounting approvals are accurate, the income tax return is filled out, and communication regarding tax payment status with your company is conducted.
April: Tax Declaration (January 5th-10th)
1. Field staff accountants will submit the paper tax forms filled out by the general ledger accountant and individual tax applications to the local tax service center for processing. They will then hand over the copied "Tax Payment Receipt" from the tax office to your company's designated financial institution for the transfer of taxes. (Application can be made manually for the company.)
2. Dedicated personnel are responsible for handling your company's tax declaration and individual income tax filing within the Shanghai Tax and Finance Network reporting system. (Available through an online tax reporting service)
V. Feedback Information (January 10-25)
Our field staff accountant has returned the customs declaration, financial reports, and income tax returns to your company. They have settled the cash receipts with your company's cashier, allocated tasks for next month, and provided feedback on the latest tax authority policies to your company.
Six: Annual Report Budget and Tax Clearance
Each March to April, in accordance with the regulations of the Shanghai Finance Bureau, a budget form for the current year will be prepared for your company, and individual income tax settlement will be conducted for your company in accordance with the regulations of the Shanghai Tax Bureau.
Section 7:代办Company Business License Annual Inspection
Every March to June, we handle the annual company business license renewal process for you, including online form submission and on-site material review services.
Section 8: Transfer of Certificates, Ledgers, and Forms
Upon completion of the annual financial budget and income tax settlement, we will refund you all your company's accounting books, accounting vouchers, forms, and various declarations in one go.
