China - Accounting and Payroll Services 

Accounting Services

• Lacking manpower to handle accounting functions in-house
• Being unfamiliar with PRC GAAP and compliance requirements
• Feeling insecure about managing your funds in China
• Losing control over the entity's expenses
• Having difficulty consolidating the PRC accounts with head office accounts

• We can prepare your PRC books in compliance with local statutory requirements
• Our specialists can provide integrated advisory services for your accounting, payroll and tax issues
• We can provide a detailed expense analysis and suggestions for internal control
• We can provide a monthly internal management report so you can better understand and monitor your Chinese businesses
• Our independent report highlights areas requiring special attention

Accounting services

• Initial set-up of accounting system, including:
• full set of accounting books
• selection of Chinese accounting software
• accounting policies
• financial management policies
• chart of accounts
• Cashier services
• Bookkeeping services, which include preparing general accounting and bookkeeping package for PRC statutory reporting
• Compilation of management accounts
• Annual audit assistance
• Assistance with consolidated annual inspection for license renewal
• Financial review and analysis

Payroll Services

• Lacking an integrated payroll solution and an adequate payroll process
• Operating on an out-of-date technology platform lacking scalability to meet continuous headcount growth
• Looking to right size and manage cost
• Lacking resources and specialism to administer payroll and manage compliance risk
• Keeping payroll information confidential

Payroll services

• Initial payroll set-up, including:
• employer registration for statutory social benefits
• application for official salary manual from relevant authorities
• liaison with your Chinese entity regarding individual employees' personal details
• coordination with bank on proper payroll processing procedures
• assistance in opening personal bank account for each employee
• Payroll calculation and net salary payment arrangement
• Preparation of individual employee pay slips
• Payroll report for local accounting entry and headquarter management
• Preparation and filing of employees' PRC individual income tax returns and assistance in settling any related tax liability
• Annual statutory assessment of social benefit contribution
• Assistance with external audits and inspection by social benefit authorities
• Review of payroll process, including payroll process efficiency review, tax and labour law compliance review and assistance in payroll system set up
• e-Pay solutions (personal website to distribute individual payslips and/or other personal pay items)