PISTIS And Associate
Accounting & Financial Reporting
Accounting and Financial Reporting Services in Ghana: Recording the transactions of a company is an integral factor that contributes to the growth of the company.
The most common questions crossing the minds of investors are:
Is maintenance of Accounts necessary, as long as I know I have the money to run the business?
The Ghana Commercial
Company Law 2015, Federal Decree-Law of 2017 on Value Added Tax (VAT), and
Economic Substance Regulation in the Ghana are some of the laws requiring the
mandatory maintenance of books of accounts in the Ghana. Hence, making Accounting
and Financial Reporting necessary.
How would I focus on the daily operations if I keep accounting?
Accounting and Financial Reporting will help the investors to understand the financial position of a company, analyze the investment opportunities, and reduce expenses that are not vital to the business. The prospects of a business can be determined only if the accounts are maintained. Accounts outsourcing services in Ghana is the most suitable option for an investor wherein he/she can dedicate their complete time towards the operations and at the same time ensure that the records are maintained, thus being able to reap maximum benefits.
The Daily Transaction
The daily transactions of the company are recorded in the accounting software on a periodic basis and reports are generated on a monthly/quarterly basis, followed by financial analysis with the management.
Weekly Visit: Our associate will visit your office on a weekly basis and update all the transactions of your company, which includes recording the purchases, sales, receipts, payments, and other business transactions, recognizing transactions on an accrual basis, and ensuring transactions and documentation comply with the Ghana VAT Law.
Monthly Visit: If the number of business transactions of the company is comparatively less, one / two visits will be sufficient to complete updating the books of accounts. Our associate will visit the clients’ office at the end of every month/beginning of the next month and update the transactions company, which includes recording the purchases, sales, receipts, payments, and other business transactions, recognizing transactions on an accrual basis, and ensuring transactions and documentation comply with the Ghana VAT Law.
Updating of Daily Accounts from our overseas office: Our accounting office located in India can support the client to update the transactions daily. It includes updating transactions like sales, purchases, payments, receipts, and reconciliation with bank statements. Any other requirement from the clients’ side will be attended to and the executive will work just like the own accountant of the company, but at a lesser employee cost. The data for this mode of updating has to be provided by the client through email or an online portal.
Our MIS Reports will include System Generated Reports at the end of every month and financial analysis will be conducted basis the report. In-house comparative financial statements will be issued on a quarterly basis which will include ratio analysis and ageing reports.
PISTIS And Associates can support by supervising the accounting transactions entered by your staff, draw out financial statements and provide an analysis of the financial position, helping steer the business to heights. Under accounts supervision services in the Ghana, our executive will visit your office on periodic a basis, weekly or monthly, depending upon the scope of the work and time required to complete the assignment. The data entry work done by the staff of the company will be reviewed with supporting documents maintained. Our accounting supervision service in the Ghana will include a review of books of account with necessary supporting documents and the major observations which require management attention and actions will be conveyed depending on its importance.
Review of Accounting Transactions
Companies that are aware of the importance of recording transactions in an orderly manner would have hired staff for book-keeping. However, the management may not be able to determine the accuracy of recording the transaction or compliance with the laws of the land. The staff may not be able to analyze the transactions and provide an opinion on the financial position of the company.it is always advisable to review past mistakes before committing new ones.
Accounts Reconciliation Services
Our accounting experts support the clients for reconciliation of their bank, customers’ ledger, suppliers’ ledger, inter-company, or any other statements/ledger. We provide accounts reconciliation services in Ghana to small and medium-sized companies, corporates, MNCs, etc. This helps the organization to eliminate legal issues, maintain the confidentiality of the critical data, and reduce the chances of fraud and corruption.
It always our pleasure to meet with our new Clients and offer them our bespoke service. You may contact us here;