Accounting Support in Kenya
In Kenya, many businesses, particularly small enterprises and startups, face significant challenges in managing their accounting processes. These challenges can lead to tax penalties, cash flow problems, and financial mismanagement. Proper accounting practices are essential to ensure that businesses stay financially organized and comply with tax regulations. By outsourcing accounting services, businesses can prevent consequences brought about by poor accounting practices.
The Consequences of Poor Accounting
Without proper accounting support, businesses can face a range of financial and operational risks. Some of these include:
- Tax penalties from KRA
- Cash flow problems
- Financial mismanagement
- Audit and compliance risks
How Frankbridge Advisory Limited Can Help Your Business Stay Financially Organized
At Frankbridge Advisory Limited, we provide comprehensive accounting services that help Kenyan businesses stay organized and compliant. Here’s how we can help:
- Bookkeeping and Financial Reporting – We ensure that your financial records are accurate and up-to-date, generating reports like balance sheets, income statements, and cash flow statements.
- Payroll and Tax Compliance – We handle payroll processing, tax deductions, and filing to ensure you stay compliant with Kenyan tax laws.
- Financial Planning and Cash Flow Management – We help you create sustainable financial strategies and optimize cash flow for business growth.
Our goal is to simplify your accounting, leaving you free to focus on what matters most: growing your business.
Bookkeeping and Financial Reporting
Accurate bookkeeping is essential for any business, whether small or large. At Frankbridge, we provide comprehensive bookkeeping services, ensuring that your financial records are correct and comply with tax regulations. We do that by:
- Keeping accurate financial records for your business: We ensure that all your transactions are properly recorded, keeping your financial records organized and compliant, so you don't have to worry about discrepancies.
- Generating detailed financial reports: We prepare monthly, quarterly, and annual statements—like balance sheets, income statements, and cash flow reports—so you can easily track your financial performance and make informed decisions for your business.
- Conducting in-depth financial analysis: We regularly review and analyze your financial data, making sure you're on track to reach your business goals. Our insights help you identify opportunities for growth and areas needing attention, empowering you to make strategic adjustments.
Payroll and Tax Compliance
Managing payroll and tax compliance can be complex and time-consuming. We handle these critical tasks to ensure that your employees are paid correctly and on time, and your business stays compliant with all Kenyan tax laws.
Our Payroll services include:
- Payroll tax compliance
- Risk management
- Cost management
- Multi-country payroll coordination
- Payroll advice and training
- Tax registrations and deregistration
- Tax residency certificates and compliance certificates
- Filing Horn of Africa annual tax returns
Our Tax Compliance services include:
- VAT Compliance
- Corporate Tax Compliance
- Withholding Tax Compliance
- Excise Duty Compliance
- Customs Duty Compliance
Financial Planning and Cash Flow Management
Effective financial planning is crucial to business success. At Frankbridge Advisory, we help businesses optimize cash flow, plan for growth, and make informed financial decisions:
- Cash Flow Analysis: We help businesses understand their cash flow patterns and identify ways to improve liquidity and manage working capital efficiently.
- Financial Budgeting: We assist businesses in developing budgets that align with their long-term goals and help them prioritize spending.
- Strategic Financial Planning: We provide insights and recommendations to help businesses plan for future growth and financial stability.
The Importance of Timely and Accurate Accounting for Your Business
Having proper accounting support not only ensures compliance with Kenyan regulations but also provides valuable insights for your business. Here's why it matters:
- Prevents financial mistakes: Regular bookkeeping helps avoid costly errors in financial reporting.
- Supports decision-making: Accurate financial reports give you the data you need to make informed business decisions.
- Reduces tax liabilities: Timely tax filings and proper accounting practices ensure that your business doesn't incur unnecessary fines or penalties.
- Attracts investors and lenders: Well-organized financial records increase your chances of securing loans or attracting investors, as they provide a clear picture of your business’s financial health.
Why Choose Frankbridge Advisory Limited for Accounting Support?
At Frankbridge Advisory, we pride ourselves on offering more than just bookkeeping services. We offer a full range of accounting solutions tailored to the needs of businesses in Kenya. Here's why businesses trust us:
- We ensure compliance with Kenyan tax laws and accounting standards.
- We provide customized accounting solutions for your business size and industry.
- We help plan for growth and optimize your finances.
- Our qualified accountants offer expert advice and guidance.
The Frankbridge Advisory Accounting Process
- First, we assess your business needs to tailor our services accordingly.
- Next, we organize and structure your financial records for clarity and accuracy.
- Then, we provide regular, timely financial reports to keep you informed about your financial standing.
- Following that, we ensure all taxes are filed accurately and on time to avoid penalties.
- Finally, we offer continuous support and advisory services to drive your business growth.
Disclaimer: Service duration and costs are dependent on your business size, complexity, and specific requirements. Contact us for a personalized consultation.
Frequently Asked Questions on Accounting Support in Kenya
What accounting services does Frankbridge Advisory Limited offer?
Is outsourcing accounting services a good idea for my business?
How often should I conduct financial reporting for my business?
How can Frankbridge Advisory help with KRA tax compliance?
How much does accounting support cost in Kenya?
What documents do I need to provide for accounting services?
How can Frankbridge Advisory help improve my cash flow?
Can Frankbridge Advisory help me with accounting if I don't have an in-house accountant?
Contact Us for Expert Accounting Support
