According to Section 51C of the Inland
Revenue Ordinance thatevery person carrying on a trade, profession or business
in Hong Kong has 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, or income and expenditure;
vouchers, bank statements, invoices, receipts;
records of the assets and liabilities of the person in relation to that trade, profession or business;
records of all entries from day to day of all sums of money received and expended in relation to that trade, profession or business;
Our services to SMEs have the following characteristics:
Standard fee with a pre-determined ceiling, customers can estimate their fee according to actual number of transactions;
Quality professional services,
english and chinese computerized accounting records in
CD format for permanent storage. Financial statements
can be prepared periodically and properly;
Professional services provided by qualified accountants, together with accounting software to assist customer on their daily accounting entries, and periodical financial reporting.
Fees include the followings:
Preparation of voucher and data input into the computerized accounting system
General ledger, Cash account, Bank Account, Accounts receivable and Accounts payable
Monthly Bank Reconciliation
Preparation of financial statements including balance sheet and income statements
Reporting time:
Monthly report: About 1-3 weeks
Quarterly & yearly report:Within one month
* For enquiries, please email info@cbc-hk.com or call 3583 6602.
To download application form, click here.