Setting up and running a small or medium enterprise involves multiple challenges. One such challenge right at the beginning is setting up a sound and reliable accounting department. Accounting is a function that forms the core of any business set up across all trades. Business decisions rely heavily upon the financial information at all stages from planning to execution. Efficient book keeping and financial control ensures the business runs smoothly and similarly, all future growth is possible only if the books are in order. Data, statements and projection are all vital financial figures to which an entrepreneur must have ready and round the clock access for sound business performance.
For those starting out in business, engaging an accounting firm provides them the opportunity to avail the services of qualified specialized resources without the burden of hiring people and running the office. For those who already have an established financial services department, outsourcing part of the work can help in reducing and managing the workload and increase efficiency. According to a recent estimate, outsourcing your accounting work can reduce your business cost by as much as 40 per cent. Hiring a specialist accounting firm does not only bring your running costs down but also provides your business with the benefit of an efficient and experienced accounting service. The bottom line is that it saves you the time and effort of poring over financial matters and leaves you free to fully concentrate on running your business.
From the beginning, our experts carefully assess our prospects’ financial services needs according to the nature of their company and suggest the services model best suited to your requirements. The work plan is finalized after extensive consultation with the prospect and a secure communication channel is set up between the two companies. Periodic review of the services and client feedback is an essential feature of our work plan which ensures that we remain efficient accounting partners.
MAJOR CHALLENGES FACING SMES
- LOW ADOPTION OF TECHNOLOGY
- HIGH OVERHEADS
- HEADACHE OF MANAGING ACCOUNTS
- TIME SPENT BY ACCOUNTANTS DEALING WITH OPERATION
- FAILURE OF FINANCE FUNCTIONS TO PROVIDE INFORMATION FOR DECISION MAKING
Whether starting a new business or simply thinking of restructuring to minimize losses and increase efficiency, the services we offer are very beneficial. HILLCREST PROFESSIONAL SERVICES offers proven expertise in areas like Book keeping, Accounting and Tax services, and Risk Management. Bookkeeping includes the recording of business transactions like customer payments, bills, invoices, bill payments, disbursements and withdrawals. We maintain ledgers for Accounts Receivable, Accounts Payable and cash account and produce daily or weekly reports according to the clients’ preference. Payroll and related activities with tax calculation are also part of our portfolio. Our repertoire also includes preparing periodic reports, financial statements, bank reconciliations and taking care of your general accounting needs. We also provide Tax management services and handle filing of VAT, PAYE and CIT returns for our clients. In addition we also provide risk advice and manage Insurance portfolio.