What you need to prepare for accounting work

Material required for accounting work to start :

Last year record

1. Last year financial statements and audit report

2. Last year tax demand note and corresponding

Company information

1. For limited company - the latest Company Registry annual return copy

2. For unlimited company - a summary of partnership and share information

Bank account transactions

1. Bank account list stating all bank accounts opened

2. Bank statements

3. Cheque book stubs

4. Outward cheque copies (if any)

5. Inward cheques copies (if any)

6. Bank deposit and withdrawal record books (if any)

Income

1. Invoice copies

2. Invoice copies of sales just before year start and just after year end (for cut off verification purpose)

3. Sales record book (if any)

Accounts Receivable (A/R)

1. Invoice settlement record

2. Outstanding invoice (unsettled) as at year end

3. Outstanding invoice (unsettled) as at year end for those appear as at last year end (aged invoice over 1 year)

Expenses & Accounts Payable (A/P)

1. Bills (or invoices) received during the year

2. Unpaid bills as at year end

3. Unpaid bills as at year end which appears as well in last year end

4. Goods or services received but bills not received - amount and supplier list

Stock (if applicable)

1. Stock list and value as at last year end

2. Stock list and value as at this year end

3. Stock purchase record during the year

4. Stock movement record (in and out)

5. Stock-take record as at year end

Salary and commission

1. List of recipients with name, ID number, address and amount received during the year (including those resigned)

2. MPF contribution record