Bookkeeping is the most basic of all accounting functions. Bookkeeping involves maintaining accurate and updated records of all of your company’s financial activity. Our services under this includes;
Monthly Bookkeeping and Reconciliation
• Recording / Processing of transactions in accounting software
• Preparation of bank reconciliation statements and general ledger accounts
• Payable and Receivable Ageing Analysis
• Maintenance of fixed asset register
• Computation of monthly depreciation
• Annual fixed asset verification
Annual financial statement preparation
• Annual preparation of IFRS compliant financial statements which shall comprise:
• Statement of profit or loss and other comprehensive income;
• Statement of financial position;
• Statement of cash flows;
• Statement of changes in equity; and
• Notes to the financial statements
Business Financial Health Check
• Work out your financial ratios
• Review your cash flow
• Monitor invoicing and debt collection process
• Evaluate your sales pipeline
• Conduct a strategic review
Commercial tax preparation can be extremely complex. Records and submissions must be prepared carefully in order to minimize your risk of unforeseen tax liabilities or fees. Our team will work with you to prepare complete and accurate corporate tax filings on an annual basis. These services will include;
Corporate income tax compliance
• Review the company’s draft corporate tax provisions (current and deferred tax) based on the management accounts
• Review and submit quarterly and annual company tax returns based on signed financial statements for the year of assessment.
• Assist the company to remit taxes and obtain GRA tax receipts.
• File corporate tax returns after approval by the company’s management
• Process of Tax Clearance Certificate (TCC) for the Company’s business.
Monthly withholding tax compliance services
• Obtain the company’s monthly payment schedules;
• Review monthly withholding returns for the company’s approval; and
• Submit withholding tax return to the GRA and obtain GRA tax receipts.
VAT Compliance Services
• Obtain the company’s monthly sales and purchases schedules;
• Review monthly VAT tax schedules for Output and Input VAT.
• Review monthly VAT return for the company’s approval
• Submit VAT return and obtain GRA tax receipts.
Employee income tax compliance
• Obtain monthly employee remuneration data
• Review of monthly income tax and social security payable for each employee;
• Assist the company to complete payroll returns and file with the Ghana Revenue Authority (GRA) and
Pension Authorities (SSNIT);
• Assist the company to deliver payments to the respective authorities i.e. the GRA and Social Security and National Insurance Trust (SSNIT),
• Review and reconcile the company’s payroll records and employment tax returns; and
• Registration and deregistration of employees with GRA and SSNIT;
Annual individual income tax return preparation and filing
• Compilation of monthly payroll data into annual income tax returns form;
• Completion of individual annual income tax return form and submit to the GRA by the due date; and
• Assist the company to respond to GRA queries raised on the returns filed.
Our financial advisory team consist of individuals who have both local and international experience and are well positioned to assist with business plans, financial models, due diligence and financial analysis;
Our activities will include four main phases namely;
• Review of internal and external analysis
• Outline management’s strategic framework
• Organizational plan (to define the future business model and organization design), and
• Conduct financial analysis and projections.
• Provide financial projections (balance sheet, income statements, and statements of cash flow) over an agreed period using scenario analysis to simulate difference what if scenarios i.e base case, best case and worse case.
• Identify key parameters that may affect the overall project performances and conduct a sensitivity analysis against any changes.
• Based on publicly available information, inputs from the client and economic performance, a realistic estimate will be made to ascertain the viability of the project.
Due Diligence and financial analysis
• Review of control environments which will include financial reporting procedures of your entity and the control environment in which you operate.
• Review historical performance and balance sheet with reference to audited/management accounts for the last three years taking into account;
− Profitability and cost seasonality,
− Normalized EBITDA analysis,
− Review of current trading,
− Adjusted net debt and net working capital, and
− Review of related party transactions.