Accounting Services for Businesses in Hong Kong

As a small business owner, you’ve shouldered the work of bookkeeping yourself to keep a close eye on your expenses. As your business grows, most owners find that their time is better served to focus on their products and services, rather than your accounting debits and credits. Outsourcing these tasks means hiring a service that provides a full accounting department experience. You can outsource everything comprising from day-to-day accounts receivable, accounts payable, payroll, transaction coding, filing Profits Tax Return, to financial reporting.

We have developed our own software. We recognize invoices and receipts, reconcile them with transactions, and update your documents and outstanding bank balance daily. We support single and multiple currencies, show the actual list of all unpaid invoices and report to you if any document is missing.

Send us your records in whichever format you have them. Drop your files in our app, store them in a cloud, or email them to our experts — they’ll take care of the rest.

All companies are required to submit Profits Tax Return annually. A newly incorporated company will receive the first Profits Tax Return after 18 months of incorporation. Three months will be allowed for preparing the accounts and audit report for the first profits tax filing. Thereafter, the tax return should be filed with the deadline depending on the Company’s Accounting Year End Date.

Employer’s Return of Remuneration & Pensions is required annually as well. Companies that have hired employees should report the salary and wages paid to employees for each fiscal year (April to March) in April every year.

When you’re ready to take your business to the next stage of growth, you’ll want to hand over the routine and administrative tasks like accounting and bookkeeping to trusted experts who know what the entrepreneurial grind is like.

We help small businesses in Hong Kong with all the necessary accounting services. We prepare financial statements and handle bookkeeping. The accounting advice would save you time from figuring this out on your own and save costs by being compliant with the local authority instead of paying late fees or penalties which can add up to a huge sum.

You don’t only get your dedicated accountants with Osome, you also get access to all your documents and financial data anywhere you want to work, using our app. All your documents are digitized and stored securely on the cloud.

Cloud accounting, also known as online accounting, involves hosting the accounting software on remote servers. It contains the same functionality as desktop accounting. However, the entire process gets moved to a cloud system. This is similar to the PaaS (Platform-as-a-Service) business model. The data gets sent to a different location, where it is processed and returned to the user or client.

What’s more, users can access software applications remotely using the Internet or Intranet. For a Hong Kong accounting firm, employees from other departments can access the same data and software version without missing any updates. Cloud accounting software also frees the business from having to install and maintain software on individual desktops. It’s a type of online accounting that essentially enables users to get real-time reporting and visibility.

Furthermore, most cloud platforms have API functionality. With this, third-party software can connect to your system to provide even more value through your business accounting.