Perhaps the most important area that any businessman should pay attention to is the financial performance of his business. After all, it all boils down to the bottom line, right?
At H.A. Consultancies, we understand how important it is for business owners to have peace of mind that the accounting books are up to date and that spending is kept under control. Maintaining accurate records can ensure that you are informed about your business which helps you effectively manage and control your cash flow. That is why we extend the following outsourced solutions for your business:
- Value Added Tax (VAT) Services
- Choice and implementation of accounting systems
- Outsourced Accounting
- Budgets, forecasts and financial models
- Managerial and Financial Reporting
- Strategic Planning
Value Added Tax (VAT) Services
H.A. Consultancies’ team of VAT experts helps you stay in compliance with the newly implemented Bahrain VAT requirements. Our team of experts offers a service that helps you reduce the complexity and administrative burden of tracking your VAT liability by defining a solid framework that helps you meet your VAT obligations as required by the Bahraini VAT law.
We support you in compliance with:
- Registration steps
- Billing, VAT treatment, exchange rates, etc.
- Local accounting standards
- Support for tax inspection
Choice and implementation of accounting systems
There are numerous accounting systems available for anyone to choose from, however not all accounting systems are created equal. No two businesses are identical, and, therefore, an accounting system that might work perfectly for one company might not meet the needs for another even if it is working in the same industry. At H.A. Consultancies, we try to understand the individual needs of each business and recommend an accounting system that would meet most of the requirements while not breaking the bank. We then help implement the accounting system of choice by setting up the Chart of Accounts, migrating the opening balances and other accounting data, and training your employees to use the new system.
Outsourced Accounting
The accounting management that H.A. Consultancies offers includes a complete control and recording system of expenses and income and other economic operations carried out by your company.
Our accounting services include:
- Setting up the Chart of Accounts and Accounting Journals
- Bank reconciliations
- Supervising asset and inventory counts
- Payroll Accounting
- Preparation of aged receivables and aged payables reports
- Preparation of Balance Sheets, Income Statements, and Cash Flow Statements
- Support during accounting audits
Budgets, forecasts and financial models
Building a budget, a forecast, or a financial model is a first step towards ensuring the success of the project at hand, or, in the worst case, avoid undesirable outcomes. Our team of business consultants have a wide range of experience in preparing financial models for all sorts of businesses, from IT companies to restaurants, gyms, and boutiques.
Managerial and Financial Reporting
Getting managerial and financial reports on time is a key element in ensuring that you are able to take effective business decisions. By reviewing performance against relevant indicators and budgets we can provide you with the tools you need to make such decisions.
Strategic Planning
Our strategy consulting division focuses on supporting private sector clients with the development of corporate and business unit strategies. We help our clients with strategic decision making, which includes the development of the strategy all the way to the execution of the strategic plan. We provide strategic advice on management topics, which encompasses data gathering and research, surveys and/or interviews, hypothesis testing, data analysis, setting up recommendations and subsequently presenting advice to the management team.
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