We help you solve all your accounting puzzles

Simple terms, accounting includes account initialization, monthly bookkeeping, monthly tax filing, VAT tax filing, and annual corporate income tax filing. At BIS, we take care of all the miscellaneous paperwork and effort with our certificated accounting professionals.  We have all the technical and physical resources to help you with every step you need.

Meanwhile, from the perspective of cost savings, the general corporate financial personnel shall have at least three persons, one cashier, and two accounting persons. After entrusting BIS as your best partner to keep accounts, the company only needs to set up one cashier, which reduces the number of accounting personnel, and the agency fees are often less than the salary costs of a financial officer. Let our professionals to answer difficult financial problems and to avoid financial and tax risks for you.

With our experienced accountant and mature UFIDA ERP software, we assist you to set up an accounting system based on your business needs and China GAAP.

1.Set up a standard Chart of Accounts (COA) with detailed explanation in accordance with PRC GAAP and your business needs.

2.Set up cost center or profit center and other analysis factors based requirements raised by your management

3.Set up internal accounting policies;

4. Set up other internal management reports needed;

Offered service

1. Prepare template forms for you to fill in, like expense application form, payment application form and etc..

2. Based on the collection of materials, we will generate accounting documents and record into our UFIDA system.

3. Generate all sub-ledgers, general ledgers and make monthly books.

4. Prepare balance sheet, cash flow, and profit and loss report and etc.,

5.The advice of avoiding unnecessary tax

Offered service

1. Based on the accounting information you provided or we prepared (under the situation we provide you the bookkeeping service), to prepare monthly, quarterly various tax returns, such as corporate income tax, individual income tax (exclude expatriates or foreigners), business tax, value-added tax, etc.;

2. Deliver these well-prepared returns to you or your designated person for review and approval (signature and chop);

3. After you confirm, submit these returns to your responsible tax authority to accomplish your filing obligations timely;

4. Deliver the tax payment request for your payment purpose, now it is deducted automatically after the tax returns have been submitted.

General VAT taxpayer application

Generally, there are two types of the taxpayer in China, one is called small taxpayer what is automatically obtained when you get tax license. The others are general taxpayer what is you need to prepare documents to apply for it.

The comparison for the two taxpayers are:

Taxpayer type VAT percentage Comments
Small taxpayer   3% Not deductible when getting a VAT invoice from the supplier. It is good for a consulting company.
General  taxpayer 17% Deduct when getting VAT invoice from the supplier. If you are doing trading business, most of your customer will be required 17% VAT invoice from you.

 

Annual corporate income tax filing

All of PRC enterprises shall submit the whole set of Annual Corporate Income Tax(CIT) filing returns which contains about 30 reports of last year before the end of May of next year. With the consideration of a number of discrepancies between the PRC accounting system and its CIT scheme, CIT annual filing always requires more knowledge and experiences and the filing requirements are very complicated.

Offered service

1. Collect all original accounting and tax documents from your management or accounting department, including trial balance, balance sheet, profit and loss, tax payment notice, detailed expense reports, and other required information;

2. Based on the above information collection, we will prepare the list of tax adjustments, explanation report and the annual filing returns, and will send them to your management for their review and approval;

3. We could also arrange a meeting to elaborate on the reasons for all adjustments if required;

4. With your approval, we will print out all of the annual filing documents and send them to you for your signature and stamp;

5. We will submit these annual filing returns to tax authorities and if applicable, we will deliver the tax payment notice to you.

All PRC enterprises shall submit the whole set of Annual Corporate Income Tax(CIT) filing returns which contains about 30 reports for the last year before the end of May of next year. With the consideration of a number of discrepancies between the PRC accounting system and its CIT scheme, CIT annual filing always requires more knowledge and experiences and the filing requirements are generally very complicated. We will assist our clients through the following procedures:

1. Collect all original accounting and tax documents from your management or accounting department, including trial balance, balance sheet, profit and loss, tax payment notice, detailed expense reports, and other required information;

2. Based on the above information collected, we will prepare the list of tax adjustments, explanation report and the annual filing returns, and will send them to your management for their review and approval;

3. We could also arrange a meeting to elaborate the reason for all adjustments if so required;

4. With your approval, we will print out all annual filing documents and send them to you for your signature and stamp; and

5. We will then submit these annual filing returns to your responsible tax authorities and will deliver the tax payment notice to you, if applicable.