Foreign accounting is a specialized financial solution where we manage your company’s accounting operations remotely from our location, while strictly adhering to your country’s local laws, accounting standards, and compliance requirements. By leveraging digital technology, we effectively become your off-site finance department, eliminating the need for you to hire and train an in-house team.
Clarification: It is important to note that Foreign Accounting does not mean your company must be registered in another country. It simply refers to the delivery model: we are located internationally/remotely, but we possess the expertise to work on your specific local regulations (such as your country’s tax codes and GAAP) as if we were sitting in your office.
As a consultancy firm, we bridge the gap between your business and high-quality financial management. We provide the infrastructure, software expertise, and skilled manpower to handle your books externally, ensuring your records are audit-ready and legally compliant.
TYPES OF FOREIGN ACCOUNTING SERVICES
Full-Cycle Remote Bookkeeping We manage day-to-day financial recording, including journal entries, ledger maintenance, and bank reconciliations. We operate directly on your preferred cloud software, ensuring real-time data accuracy without physical paperwork.
Local Tax & Statutory Compliance Our experts study and apply the specific tax regulations of your country (e.g., VAT, GST, Sales Tax, Federal Tax). We prepare and organize your tax data to ensure your business remains 100% compliant with local government authorities.
Accounts Payable & Receivable Management We manage your cash flow by tracking vendor bills, scheduling payments, and monitoring incoming customer payments. This ensures healthy liquidity and maintains strong professional relationships with your stakeholders.
Multi-Currency & Consolidated Reporting For businesses with international dealings, we manage complex multi-currency transactions and provide consolidated financial statements that align with international reporting standards.
Virtual CFO & MIS Reporting Beyond data entry, we provide high-level financial analysis, including Profit & Loss statements, Balance Sheets, and Cash Flow forecasts, giving you the strategic insights needed for decision-making.
KEY FEATURES OF FOREIGN ACCOUNTING
- Cost Efficiency: significantly reduces overhead by eliminating recruitment, office space, and employee benefit costs.
- System Agnostic: We integrate seamlessly with your existing software (QuickBooks, SAP, Tally, ZOHO etc.).
- Time-Zone Advantage: We can process data overnight, ensuring your financial reports are ready for review by the start of your business day.
- Data Security: We utilize enterprise-grade encryption and secure server access to keep your financial data confidential.
- Scalability: Services can be instantly scaled up or down based on your business volume or seasonal demands.
ELIGIBILITY CRITERIA
- Digital Readiness: Your business must be willing to use cloud-based accounting platforms or allow remote desktop access.
- Document Digitization: Ability to provide digital copies (scans/photos) of invoices, bank statements, and receipts.
- Communication: Availability for periodic virtual meetings to review reports and queries.
- Legal Structure: Suitable for Startups, SMEs, and Corporations looking to outsource non-core financial activities.
HOW OUR CONSULTANCY HELPS
- Process Optimization: We analyze your current workflow and implement a "Plug-and-Play" remote system.
- Regulatory Mapping: We research your specific region’s accounting laws to ensure our work meets your local standards.
- Software Setup: We assist in setting up or cleaning up your accounting software for remote management.
- Continuous Supervision: Our senior consultants oversee the remote team to guarantee accuracy and timeliness.
IMPORTANT CONSIDERATIONS
- Ensure you have a reliable internet connection for smooth data synchronization.
- Define clear approval hierarchies for payments to maintain internal control.
- While we manage the accounting, the legal responsibility for business decisions remains with the company directors.
- Review data privacy regulations to ensure compliant cross-border data handling.
DISCLAIMER
We act solely as a consultancy and advisory service provider. Our role is to facilitate and manage accounting processes remotely based on the data and documents provided by the client. The client remains responsible for the accuracy of the primary data and for final business decisions. We do not provide legal representation or sign off on statutory audits unless explicitly engaged under a separate audit mandate.