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Accounting & Bookkeeping Services in Hong Kong

Our accounting services help businesses manage their cashflow   

Let the Chartered accountants help you prepare your bookkeeping, check the numbers, and optimize tax numbers according to the Hong Kong financial reporting standards.

At Fastlane, we embrace technology, that’s why we ensure to run all your accounting work through our cloud-based accounting platform, Xero. 

As a Xero Platinum partner, FastLane group has extensive experience in helping companies to handle accounting work through the Xero accounting platforms. 

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Let the Chartered accountants help you prepare your bookkeeping, check the numbers, and optimize tax numbers according to the Hong Kong financial reporting standards.

At Fastlane, we embrace technology, that’s why we ensure to run all your accounting work through our cloud-based accounting platform, Xero. 

As a Xero Platinum partner, FastLane group has extensive experience in helping companies to handle accounting work through the Xero accounting platforms. 

Let’s save you the hassle of moving paper around and dealing with numbers. 

Our accounting services include:

  • Xero Cloud Accounting Software Implementation & Training 

  • Monthly / Quarterly / Yearly Bookkeeping Services

    • Accounting Data Input
    • Bank Reconciliations
    • Preparation of Management Accounts Including Monthly Profit & Loss Statements and Balance Sheets
    • Preparation of Account Receivable & Account Payable Ageing Reports
    • Generate an outstanding list for client inputs such as missing receipts or nature of transactions
    • Review Company Financial Performance and Matrix
    • Reminder on Audit and Tax Deadlines
  • Xero Account Review Services.

    • Perform review of your Xero account for the period including Xero settings, bank feeds and reconciliations, sales and expenses categorization
    • Prepare a Xero Health Check Report detailing findings and a list of recommendations

Benefits of choosing Fastlane as your preferred accountant and bookkeeper in Hong Kong?

Dedicated Account Manager

Enjoy a dedicated account manager in Hong Kong to guide you through the
whole process. No worries, you don’t have to deal with an AI chatbot!

Audit and Tax Filing

By letting us handle your accounting & bookkeeping, we can perform our
audit and tax filing services with minimal interruption to your business

Xero Cloud Accounting Software
Implementation & Training

With our professional training and customized setup for your account,
you will enjoy a seamless experience in using Xero accounting software.

Monthly / Quarterly / Yearly
Bookkeeping Services
With our various accounting plans, we are flexible and able to
provide customized services to meet your business needs.
 

Access to our Professional Payroll
and Corporate Services Team

With our extensive experience and expertise,
FastLane can be your one-stop solution for the services you need.

 

Wondering how we use Xero to provide accounting services to businesses in Hong Kong?

Here are a few tips to give you an idea of the big picture:

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Step 1:
Xero Implementation 


We will help you setup a tailored
Xero account based on your
unique business operations

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Step 2:
Xero Training 


Our certified Xero advisor to
provide one-on-one training
to your team on using the software

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Step 3:
Bookkeeping 


Simply take a photo or scanned copy
of all your receipts and upload them
to Xero or other cloud storage solutions.
We will take care of the rest!

How much does it cost for our accounting services?

We charge accounting services fees based on an hourly rate or a fixed fee per month depends on the number of your company transactions and business complexity. Nothing unexpected will appear on your bills!

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We offer a unique delivery model with technology that enables us to provide an unrivalled service which has successfully supported more than five hundred companies.

FastLane Clients See Result Like These…

 

We have worked with FastLane now for several years, and see them as a vital part of our team. They are extremely diligent and responsive and provide truly world-class service in all their secretarial services, accounting, and auditing. I have already recommended them to several other companies who have also been delighted with their service. I strongly recommend them for any business looking to take the accounting load off your company, allowing you to focus on your customers and your business. Thanks to Tony, Michelle, and the FastLane team!

Nigel Hawthorn, Managing Director
Treadfox International Limited


Thorough and fast services, Fastlane did a great job handling my accounting work. The best is that they are one of the most affordable accounting services companies in Hong Kong. Highly recommended!”

Raindrop Technologies Limited


Handling traditional bookkeeping and audit for many years. I cannot believe using Xero can make the process so much easier and faster. I no longer need to bring all physical documents around and have useful accounting reports anytime anywhere when logging into Xero. Thanks FastLane.”

Frankie Yiu, Central Japanese Club Limited

FAQs for Accounting Services & Bookkeeping

1. What are the official requirements of accounting in Hong Kong from the government?


All Hong Kong incorporated companies are statutorily required by the Companies Ordinance to audit their financial statements on a yearly basis.

These financial statements are essentially accounting documents prepared by a Certified Public Accountant (CPA) on behalf of a business, with the aim of providing financial accountability to the company’s stakeholders. For private companies, financial statements are not required to be filed on public records.

For corporate entities, financial statements are required and must be prepared, in order to comply with the disclosure requirements set out in the Hong Kong Companies Ordinance, Hong Kong’s Financial Reporting Standards, and the Rules of The Stock Exchange of Hong Kong Limited for listed companies.

 

2. Which online accounting system do we use?


The FastLane Group utilizes a cloud-based accounting software named Xero. Xero offers businesses a simple, yet powerful, way to manage their finances. Comparing with traditional accounting systems or Excel, Xero users can access their business finances wherever they are, collaborate seamlessly with other parties, and can even improve their cash flow through online invoices. 

The FastLane Group is a certified Xero Advisor and Xero Platinum Partner. We recognize the importance of assisting small businesses and SMEs and are committed to helping our clients build better businesses. To affirm our position as a leading Xero Partner, the FastLane Group was awarded the Xero Award for Accounting Partner of the Year 2019!

 

3. How do we calculate transactions?


We determine the number of transactions per month as the number of transactions conducted in a corporate bank account. This includes all deposits, withdrawals, sales invoices, and business expenses.

At the FastLane Group, we take special care not to double count transactions. For example, if a company transfers funds between different bank accounts, we count this as one transaction. We also take into consideration whether the company makes several receipts for one sales invoice, or has similar recurring transactions through merchant accounts (Paypal, Stripe, Payoneer, Neat, etc). Other service providers may not account for such transactions.

If you are unsure of how many transactions your company conducts in any given month, don’t hesitate to reach out to us at FastLane. We can review the necessary documentation to help determine!

 

4. Why outsource accounting services?


Outsourcing accounting services in Hong Kong allows small businesses and SMEs to access and utilize more resources as compared to relying on in-house accountants. The key benefits of outsourcing accounting services to a professional accounting firm are as follows:

  • Save time to focus on other key business activities 
  • Save money by accessing professional knowledge and avoiding penalties 
  • Provide a better understanding of the company’s financial performance 
  • Improve cash flow management 
  • Seamless audit coordination 

 

5. What is cloud accounting?


Cloud accounting is a better way to do accounting work. Unlike traditional accounting solutions, cloud accounting platforms are hosted on remote servers and make data and software accessible online anytime, anywhere, and from any device.

The greatest strength of moving accounting from offline to online is that it allows companies to manage and share access to their financial documents with their team, accountants, and bookkeepers – facilitating collaboration, transparency, and efficiency.

 

6. Can I handle my own bookkeeping?


Yes. However, it is not recommended. Bookkeeping is an essential part of a business as they are responsible for managing the day-to-day accounts. For business owners who wish to devote their time to business generating activities, hiring a bookkeeper can ensure that they are able to do so. 

According to Xero, without proper bookkeeping, “it would be easy for transactions to go unrecorded, left to pile up until the end of the financial period. Mistakes could be made and important details could be lost or forgotten”. Having a bookkeeper can lighten a load of a business, improving its efficiency.

Parties who require bookkeeping support but are not ready to completely outsource these related roles can consider setting up a Xero system. The FastLane Group’s cloud accounting services get you started with Xero, provide training on the system and manage all receipts you upload onto the platform!

 

7. What are the benefits of moving the accounting to online accounting software?


As stated by Marc Benioff, CEO of Salesforce.com, “cloud computing is a better way to run your business”. Moving your accounting work to the cloud is no exception. Businesses who use cloud accounting platforms such as Xero can enjoy increased efficiency through automation functions, increased data security and improved financial control over compliance matters. In addition, cloud platforms are typically designed with scalability in mind, allowing users the ability to pick and choose which functions they want to pay for and utilize.

What can FastLane Do for You?

Schedule A Meeting With FastLane
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