Service01
Service01
Cost Reduction Support concerning Accounting & Tax Efficiency
Cost Reduction Support concerning Accounting & Tax Efficiency
Stuck with Accounting?
Let us assist you to overcome any accounting issues
by improving efficiency and reducing software costs.
Stuck with Accounting?
Let us assist you to overcome any accounting issues by improving efficiency
and reducing software costs.
Routine Operations / Saving time with journal entries
Routine Operations / Saving time with journal entries
Closing Procedures / Productive Tax Calculation
Closing Procedures / Productive Tax Calculation
Tax Return Preparation/ Dealing with Japanese consumer tax
Tax Return Preparation/ Dealing with Japanese consumer tax
The decision making of your accounting software is most important.
Choosing software which meets the conditions to Japan’s “Consumer tax Invoice system” and “Digital book maintenance act” will lighten your accounting workload.
We will support your accounting department according to your needs.
Point
Routine operations
Minimize manual journal entries
Accounting personnel often stumble on double-entry bookkeeping, particularly in understanding the meanings of debits (outflows), credits (inflows), and account categories, as well as inputting data into the accounting software. One way to overcome this initial hurdle is by utilizing Microsoft Excel, which many are already familiar with.
Most of the journal entries occur repeatedly. With Microsoft Excel, you can simply add a new sheet or copy the previous month’s file, retaining the previous entry data, which means you only need to change the amounts. This eliminates the struggle with debits, credits, and account categories. Minor aspects such as adding or changing categories need to be considered in the future when thinking about efficiency.
To minimize the burden of journal entry tasks, It is crucial to understand the current situation and identify the obstacles.
It is essential to review the workflow from daily administrative processes to closing tasks, so we will start by entering the field and discussing with the personnel. The accounting system can be customized, according to the companies needs, therefore department-specific management can be implemented when needed. Some accounting software can import data from Microsoft Excel, while others allow pre-registration of standard entries. Together, we will consider how to optimize accounting and tax operations, taking costs into account.
Closing Procedures
Optimizing the final task of closing: tax calculation
Taxes are a significant factor that greatly impacts the company’s cash flow, yet the calculation process itself is often undervalued. This is because it is seen as a fixed cost that must be calculated and paid according to established rules.
Calculating taxes can be very challenging for those responsible for it. To minimize this burden, tax calculations should be streamlined using dedicated software.
Tax departments generally don’t receive much budget, and personnel responsible for tax often have no choice but to rely on Microsoft Excel. However, no matter how well they set formulas, there are still various pitfalls.
Therefore,we recommend using tax effect accounting software.
Tax Return Preparation
Solving the consumption tax PL issue required for consumption tax filing
One of the challenges with consumption tax returns is the preparation of the consumption tax PL (Profit and Loss statement). We refer to a list showing the tax-inclusive amount, consumption tax amount, and tax-exclusive amount for each PL account as the “consumption tax PL.” This document is not only crucial for verifying the accuracy of the consumption tax amounts but also serves as a valuable source for preparing the consumption tax return.
In companies that are unable to generate the consumption tax PL through their accounting software, they download the accounting data and compile it manually. However, some accounting software allows not only the creation of the consumption tax PL but also the entire consumption tax return in one seamless process.
This is one of the reasons why selecting the right accounting software is very important.
The introduction of the consumption tax invoice system has undoubtedly increased the amount of data that needs to be managed and the requirements for bookkeeping entries, which were previously given little attention, are now in the spotlight. The information needed for the preparation of consumption tax returns has significantly increased.
Therefore, the minimum necessary information required for consumption tax returns should be entered into the accounting software from the initial entry stage, allowing accurate output from the accounting software.
Point
Routine operations Minimize manual journal entries
Accounting personnel often stumble on double-entry bookkeeping, particularly in understanding the meanings of debits (outflows), credits (inflows), and account categories, as well as inputting data into the accounting software. One way to overcome this initial hurdle is by utilizing Microsoft Excel, which many are already familiar with.
Most of the journal entries occur repeatedly. With Microsoft Excel, you can simply add a new sheet or copy the previous month’s file, retaining the previous entry data, which means you only need to change the amounts. This eliminates the struggle with debits, credits, and account categories. Minor aspects such as adding or changing categories need to be considered in the future when thinking about efficiency.
To minimize the burden of journal entry tasks, It is crucial to understand the current situation and identify the obstacles.
It is essential to review the workflow from daily administrative processes to closing tasks, so we will start by entering the field and discussing with the personnel. The accounting system can be customized, according to the companies needs, therefore department-specific management can be implemented when needed. Some accounting software can import data from Microsoft Excel, while others allow pre-registration of standard entries. Together, we will consider how to optimize accounting and tax operations, taking costs into account.
Closing Procedures Optimizing ｔhe final task of closing: tax calculation
Taxes are a significant factor that greatly impacts the company’s cash flow, yet the calculation process itself is often undervalued. This is because it is seen as a fixed cost that must be calculated and paid according to established rules.
Calculating taxes can be very challenging for those responsible for it. To minimize this burden, tax calculations should be streamlined using dedicated software.
Tax departments generally don’t receive much budget, and personnel responsible for tax often have no choice but to rely on Microsoft Excel. However, no matter how well they set formulas, there are still various pitfalls.
Therefore,we recommend using tax effect accounting software.
Tax Return Preparation Solving the consumption tax PL issue required for consumption tax filing
One of the challenges with consumption tax returns is the preparation of the consumption tax PL (Profit and Loss statement). We refer to a list showing the tax-inclusive amount, consumption tax amount, and tax-exclusive amount for each PL account as the “consumption tax PL.” This document is not only crucial for verifying the accuracy of the consumption tax amounts but also serves as a valuable source for preparing the consumption tax return.
In companies that are unable to generate the consumption tax PL through their accounting software, they download the accounting data and compile it manually. However, some accounting software allows not only the creation of the consumption tax PL but also the entire consumption tax return in one seamless process.
This is one of the reasons why selecting the right accounting software is very important.
The introduction of the consumption tax invoice system has undoubtedly increased the amount of data that needs to be managed and the requirements for bookkeeping entries, which were previously given little attention, are now in the spotlight. The information needed for the preparation of consumption tax returns has significantly increased.
Therefore, the minimum necessary information required for consumption tax returns should be entered into the accounting software from the initial entry stage, allowing accurate output from the accounting software.
Support
◾️Accounting Software Selection
◾️Accounting Software Selection
We will assist selecting the most suitable accounting software for your company, considering the key points below.
- Data storage capacity
- Compliance with the current legal bookkeeping requirements
- Cloud-based for remote access
- Auto generation of tax-related documents for tax returns
- User friendly; creating accounts and support for departmental management
◾️Routine operations/Accounting framework
◾️Routine operations/Accounting framework
We will support the creation of accounting framework tailored to the workplace, making it easy for personnel who are not familiar with accounting tasks.
Examples:
- Create journal entries using Microsoft Excel
- Utilizing a journal dictionary* to create journal entries
*A function used to register journal entries for fixed transactions - Auto generate journal entries with connection with corporate bank account
◾️Workflow Design
◾️Workflow Design
High quality software cannot perform its functions if it is not compatible with on-site operations and surrounding software. We will assist establishing administrative workflows to ensure that the accounting software can collaborate with on-site processes and function properly.
◾️Closing Procedures/ In-house Training
◾️Closing Procedures/ In-house Training
Tax calculations are complex and have far-reaching implications. When managed in Microsoft Excel, it often becomes difficult to delegate tasks to subordinates. This leads to situations where responsible parties or team leaders have to hold onto the workload themselves. Implementing a system to create a process that anyone can use is essential, but also important to ensure that employees do not blindly accept the results of the system without proper analysis; therefore, employee training is necessary.
We also support the development of tax professionals who can address these challenges.
◾️Software-Tax Filing Integration
◾️Software-Tax Filing Integration
We will clarify the rules and mechanisms of consumption tax, to organize the minimum necessary tasks from the accounting journal entry stage,and ensure that these results are integrated into the tax filing process.
◾️Optimizing Accounting and Tax operations
◾️Optimizing Accounting and Tax operations
We will support your company according to your needs. We understand that the necessary tasks vary from company to company, thus we will give support to determine the extent of preparations needed.
Case
Accounting System Setup Support
for New Subsidiaries
Initially, we were requested support for compliance with the Tax invoice system. However, several other issues became evident, including:
- Being a subsidiary of a large group company
- The potential for significant future growth
- Lack of accounting personnel
- Imminent implementation of the invoice system
We provided support through a comprehensive approach to problem-solving.
Contact
Click on Inquiries to contact us.
We offer support, practical assistance, and lectures.
*Consultations are free of charge.
Contact
Click on Inquiries to contact us.
We offer support, practical assistance, and lectures.
*Consultations are free of charge.
