China
Accounting and Payroll in China
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Accounting & Payroll in China
It is recommended, and probably in your best interest, to employ an accountant in China. They'll nearly always save money, and more importantly, will make your business the most financially efficient it can be. Used wisely, accountants in China can make you more profitable than ever.
Accountants in China provide a range of services. They can look after everything financial, from fundamental book-keeping to more expert advice. You could hire accountants in China simply to prepare financial statements for your tax return, or you may require them for other added-value services such as auditing. Accounts must be audited each year, unless the company or region you are based in is exempt.
It is essential to choose an appropriate accountant for your circumstances. If you just want an accountant to take care of your book-keeping, then a small firm will probably suffice. However, if you require astute financial and planning advice, a larger, more reputable company might be needed. Check they're chartered / registered with a recognised accounting body. It is important to lay out exactly what you want them to do for you and what the charges will be.
Keeping a sound financial record is essential. Apply yourself. Have a good system in place and then the time that you do spend on accounts won't be so burdensome. Ensure you retain receipts for everything you buy. It is recommended that you keep a ledger or book with the details of what the receipt is for. Keep a record of all sent and received invoices too. These will keep you informed that you've been paid or have money owing, etc.
Ultimately, applied and diligent record-keeping will keep your accountancy costs low when setting up a business in China.
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Organisations that can assist with Accounting and Payroll
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> Blue Marble Global Payroll
Simplified Global Payroll Managing payroll across multiple countries is complicated – with unique requirements, systems, and deadlines in each country, it can be difficult to ensure compliance. Using manual processes or spreadsheets to manage payroll can lead to errors, data security issues, and penalties. Blue Marble solves your challenges with secure, cloud-based global payroll technology, aggregated monthly reporting, and in-country experts in 100+ countries.
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> Accountancy Or Tax Issues?
Do you need an accountant or tax advice in this country? Helping foreign companies with local tax regulations.