Accounting Services in China

China is the world’s largest trading nation. Accounting for 18 percent of global GDP, and a staggering 31 percent of manufacturing in the world – it is an economy by which all others are measured, offering a wealth of business opportunities to foreign investors.

Whilst many foreign business owners understand the value of trading and investing in China, many fail to appreciate the complexities of navigating a system which is far different from European, US and Australian markets. Aside from the inevitable language barriers, there are also strictures around the legislation, rules and regulations that govern Chinese Accounting standards and practices. 

Maintaining financial records compliance in China’s ever-changing regulatory landscape is beyond challenging for foreign businesses and can end up an administrative and legal nightmare.

Boots on the Ground Accounting Services in China

It is impossible to overstate the importance of employing a local Chinese accounting firm to set up your business and manage your finances in the long term.

At Star Accounting and Consulting, we offer foreign businesses a range of valuable accounting services, including:

– Initial account system setup

– Preparation of monthly financial statements (PRC standard)

– Monthly report preparation (customised to your group reporting template)

– Customised financial reporting

– Real-time access to reports and financial data through cloud-based systems

– Budgeting and forecasting

– Invoicing

– Inventory management

– Consultancy and advisory services on Chinese accounting regulations and policies

– Annual audit assistance

– Cloud accounting using bilingual accounting software. (Enables secure access to online accounting information in English, including financial statements and journal entries.)

Technology and Innovation

International trade technology is moving at warp speed – making it ever more efficient, cost-effective, safe and reliable. It is vital that businesses keep pace with cutting edge innovation and technology.

In the past, restrictions around time zones and language barriers have made coordinating business operations difficult in multinational companies. How things have changed!

Star Accounting and Consulting utilise bilingual accounting software to bridge language barriers and streamline communications. The software also has the capacity for multi-currency accounting solutions – a vital component of international transactions.

Star Accounting and Consultant’s cloud-based accounting software enables clients the transparency to view real-time financial data from anywhere in the world. It also allows clients to monitor the effectiveness and efficiency of our performance in managing our clients’ businesses, ensuring we remain accountable and productive.

Virtual office in China

Star Accounting and Consulting also offer a range of other valuable services for foreign companies looking to set up a business in China. We are able to offer a virtual local presence including a Chinese address for business registrations, a landline phone number and a local postal address for correspondence. As you will appreciate, having a local presence makes doing business in China considerably easier.

Star Accounting and Consulting’s experts understand the challenges of doing business in China. We have helped thousands of foreign businesses like yours manage their financial and accounting needs and have built long-standing relationships. If you are ready to make the move to China or are interested in finding out more about our comprehensive range of services, contact us today and let’s talk.