"Take care of the pences, and the pounds shall take care of themselves"
Finance is a key division of any business entity.
Our extensive experience in this field has lead us to believe that is is essential to ensure that a sole proprietor, partner or company must have reliable and effective financial systems controls and procedures. Tax liability may also bring a business to its knees. Book keeping and accounting functions such as accurate management reporting is crucial in decision making.
Budgeting is not common in business yet is one of the most important function of finance planning. Strategic plans also make the difference between a business entity that wishes to experience growth or to stagnate.
The more your business entity focuses on finance functions, the less tax liabilities, unrealized revenues and unnecessary expenses it has to accrue.
We provide consultancy and specialize in the following;
Bookkeeping
This involves preparation of periodic reports of a business entity. T&H requires invoicing and purchase documents in order to perform this service. This service may be rendered at your premises.
An agreed number of visits are made to -or in other instances, documents are collected from our clients offices. All work is computerized through an accounting software. Budgeting and strategic planning from prepared reports may be done where special arrangements are made.
Systems, Controls and Procedures (SCPs)
What are the effects of weak SCPs?
Fraudulent transactions on sales and purchases by staff and clientèle, stock theft or pilferage, cost of sales wastage, mismanagement of company resources such as motor vehicles, equipment and machinery….the list is endless. In order for a business entity to function effectively and efficiently, the above must exist.
We at T&H have the expertise on two levels;design and implementation of new SCPs .
This includes document flow charts and authorization levels on sales and procurement processes. Some organizations require an assessment of their existing SCPs and a recommendation report of an upgrade to bridge the gap is produced where necessary .
Tax assessment and liability
Kenya’s tax provisions are mainly derived from the Income Tax Act, VAT Act and Customs & Excise Act. The Electronic Tax Register (ETR) is a new phenomenon in this country. On analysis of the nature of your business, we at T&H propose the right type of ETR for your needs.
An update list of suppliers authorized by Kenya Revenue Authority to stock, repair and sell Electronic tax registers is also available.
Audited reports
For more information, kindly contact us.