Service Content and Scope of the Accounting Agency
The significant and immediate benefit of entrusting accounting services to authorized agents is the cost savings on the staff level, especially since the implementation of the new Labor Contract Law, where the rising labor costs make cost savings on labor seem crucial. It is worth noting that entrusting accounting services to authorized agents can provide your company with a systematic team of experts, allowing you to enjoy the systematic services of multiple financial professionals for just a few hundred dollars.
The steps for Shanghai's agency bookkeeping generally include five processes: accepting authorization, receiving invoices, bookkeeping, tax declaration, and phone follow-up.
One, Present invoices (January 1st to 5th)
January 1-5, please assign dedicated personnel to collect the following long-standing invoices:
Current cash vouchers: including room charges, payroll, social insurance fees, office expenses, travel reimbursement, reception fees, communication fees, transportation costs, postage fees, etc.
2. Financial Institution Documents: Including cash withdrawal slips, transfer slips, credit vouchers, wire transfers, deposit slips, loan applications, and bank reconciliation statements, etc.
3. Tax Invoices and Details: Includes all accounting links and invoice lists issued in January (with detailed breakdowns of income tax, including sales tax and detailed sales tax lists), and general taxpayers must also present the invoice receipt and deduction links for income tax input.
Employee Information: Includes employee names, gender, ID numbers, monthly salary amounts, etc.
5. Online Tax Reporting U Stick (for customers presenting online tax submissions)
7. Copies of the business license, tax registration, unified social credit code, and financial institution tax registration certificate.
Section 8: Company seals and stamps 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 needs to review at your own premises, for easy access at any time. All invoices will be bound into a volume and submitted to your company in conjunction with the annual financial report, budget, and income tax settlement from the Finance Bureau.
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 accounting documents (with a handover list for clear transition), and to conduct a step-by-step review of the documents. Additionally, please ensure that the agent's expenses from last month are handed over to our field staff accountant.
Accounting Schedule (January 1-10)
Our company will assign a technically proficient financial professional to provide accounting services tailored to your business scope and regulations. We will also offer consultation services for tax declaration and tax payment management. The accounting professional will further organize the documents provided by your company and promptly 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 financial resolution, legal approval of tax calculations, and verification of accounts receivable and payable. A precise evaluation is provided for potential risks in customer financial issues. After ensuring all financial approvals are accurate, the income tax return is filled out, and communication is conducted with your company regarding the tax payment status.
Four: Tax Declaration (from January 5th to 10th)
1. Field staff's financial accountant has submitted the paper tax forms and individual tax applications filled out by the general ledger accountant to the local tax service hall for processing. They have also handed over the copy of the "Tax Payment Slip" issued by the tax bureau to your company's designated financial institution for the transfer of tax funds. (Application companies can be created manually.)
2. Dedicated staff will handle tax declarations and individual income tax filings for your company within the Shanghai Tax and Finance Network reporting system. (Service provided by an online tax filing company)
V. Feedback Information (January 10-25)
Our field staff's financial accountant has returned the customs declaration, financial reports, and income tax returns to you. They have settled the financial cashier's payment for your company, allocated the tasks for next month, and provided feedback on the latest tax administration policies to you.
Section 6: 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 established 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
Our company offers代办annual business license renewal services from March to June each year, which includes online form filling 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 provide you with a one-time refund of your company's accounting books, accounting vouchers, forms, and various申报 forms.
