Bookkeeping and accounting tasks are two key components to building a successful business; bookkeeping keeps track of all business transactions in the book, general ledger, or software program which contains every financial transaction of the company since its commencement, whereas accounting is a high-level process that analyses the ledgers’ information and develops insights into the business financial decisions
Many businesses in Malaysia fail to see the importance of hiring a good bookkeeper, believing that not hiring one or hiring a freelance bookkeeper would help to cut down expenses. However, this is a huge mistake since any bookkeeping and accounting mistake, even minor ones, can result in mismanagement.
In the past, businesses hired in-house accountants or bookkeepers to oversee their finances. These days, you have the option to outsource these essential functions to a reliable third-party service provider like Bestar Consulting who can provide your company with a highly-competent and experienced accountant or bookkeeper.
Bestar Consulting will assist you with various business activities, including bookkeeping, accounting, auditing and taxation tasks with a minimum accounting fee of RM 500 (subjected to 6% service tax), including free E-filing and GST submission if you choose one of the packages available. Services are offered on a monthly, quarterly and yearly basis.
Why Engage Outsourced Bookkeeping and Accounting Services
An accredited professional agency that has a highly-proficient team with years of experience will have all the necessary skills and knowledge to undertake high-level bookkeeping and accounting work for all small, medium or big companies.
A suitable accountant or consultant will be assigned to work with you and provide all your accounting needs. He or she will organise and review available information and maintain the accounting ledger according to the managerial or financial documents that the company has to submit to him or her periodically. The accountants will fulfill annual statutory audits and ensure the management accounts are prepared timely.
The dedicated accountants will also help you monitor statutory compliance problems and advise you on the basic requirements of reports and accounts. They will also ensure the company stays compliant with GST requirements and alarm you with any relevant updates.
Wide Range of Services
Besides accounting and bookkeeping professionals, the firm should also have a team of skilled professionals in many other business areas. The team comprises qualified tax agents, GST agents, secretarial and many more, offering you high-quality and reliable comprehensive services. Hence, you will get access to varied talents, which would not be possible to find in one employee even with several training and credentials.
These talents provide strategic advice on tracking and advancing the simple yet extensive business tasks that make financial and overall company management more efficient. As your company grows, it will provide you with the right guidance to tackle the best opportunities and improve any flaws.
Customised Accounting Solutions
Regardless of your company’s experience, Bestar Consulting can cater to your needs with customised solutions. You can select the services features, specifications, and professionals according to your business needs to maximise return and growth. The team will offer you their best to depict their capabilities to expand its accounting services to meet your business needs.
One of the key benefits of outsourcing accounting tasks to a professional accounting firm is that you can cut down the overall business expenses. Engaging with an external accounting services provider costs much lower than the money spent on hiring a full-time accountant, which requires the company to pay for employee’s benefits, training, workspace and overtime. The money saved can be utilised to cater to other critical functions of your business and result in a higher profit.
Moreover, professional accountants and bookkeepers can enhance the accounting tasks’ efficiency and prevent the company from getting charged with hefty penalties due to accounting mistakes and legal violations, such as tax filing inaccuracy and late payments of taxes.
Accounting and bookkeeping tasks can be daunting and time-consuming, especially if you lack the knowledge and experience to perform the task. Valuable time, effort and attention are required to deal with the books and numbers. By outsourcing, you can enjoy a hassle-free service, have more time for business management, and strategise on attracting more customers and increasing brand awareness. With more efficient business management, the opportunity for business growth increases as you and your staff focus on the right tasks and work together towards a common goal.