SFAI offers Outsourcing Accounting services for Small and medium-sized business entities (SMEs) which are not willing to set up an accounting department and recruit staff to undertake this function. An entity’s management is keen on engaging this service to secure highly professional performance on cost effective basis.

The provision of this service is dependent on the client’s requirements of accounting data and information, which differ from a company to another. It is worth mentioning that the provision of this service involves the utilization of accounting software systems including but not limited to MS Dynamics, Oracle, and SAP. The determination of which accounting software system to be used is based on the client’s requirements.

The expected value added to SMEs from having an Outsourcing Accounting:

1. Cost reduction.
2. More focus is given by the entrepreneurs on their main business.

SFAI will offer the following Outsourcing Accounting services:

1. Review the chart of accounts on annual basis.
2. Make periodic visits to perform the following:
   • Reviewing the supporting documents of accounting transactions.
   • Posting journal entries
   • Managing cash and banks
   • Managing fixed assets register and depreciation entries
   • Reviewing payroll and benefits
   • Managing accounts payable and accounts receivable
   • Attending periodic physical inventory count.
3. Perform month-end and yearend closing.
4. Issue management accounting reports.
5. Prepare files and records for independent audits.