Services
What We do
Client Accounting Services (CAS)
- Accounting Software Training
- Back Office Services
- Accounting Outsourcing
- Payroll & HR Administration
- Bill Pay / Paperless Processing
- Accounting Outsourcing
- Bookkeeping
- Cash Management
- Accounting Software Training
- Back Office Services
- Accounting Outsourcing
- Payroll & HR Administration
- Bill Pay / Paperless Processing
- Accounting Outsourcing
- Bookkeeping
- Cash Management
As a business leader, you need information that’s timely and relevant to drive the decisions you make every day. Our client accounting services (CAS) practice addresses that need by leveraging best-in-class technologies to deliver customized accounting, finance, and operational assistance A tailored service approach that meets your needs.
Whether you are looking to outsource your entire finance Function or seeking assistance with basic accounting and bookkeeping, we will work with you to create a customized solution that meets your needs and scales with you as you grow.
Although you will have one main point of contact, you will have access to the entire BIKO team, who are experienced in accounting, assurance and advisory, tax, Finance Advisory.
Audit Services
The focus of the audit and assurance Team is to provide you with a quality product that suits your needs, to provide helpful suggestions that improve your operations, to provide financial guidance when necessary, and to provide a level of service that will result in a long-lasting relationship. Our goal is to be first on your mind when you have a question, and we take the time necessary to build that type of relationship.
We provide a myriad of services including, but not limited, to the following:
External Audit
Review
Compilation
Agreed-Upon Procedures
Internal audit
Audit - Highest Level of Assurance Service
BIKO’s audit service is our highest level of assurance that we can provide to our clients. We use a risk-based approach tailored by our understanding of your business and the technical accounting guidance. This customized approach allows us to focus on the areas that matter to you and your stakeholders. Our audit service will give you the confidence that your financial reporting is accurate and transparent. Further, at the end of each audit, we will provide you with our findings and recommendations to any internal control matters or significant accounting policies.
Review - Limited Level of Assurance Service
BIKO’s review service provides limited assurance that there are no material modifications to the financial statements. Like an audit, we use a risk-based approach customized by our understanding of your business and the relevant technical accounting standards. However, we rely on inquiries and analytic to arrive at our conclusions. Our review service will give you the confidence that your financial reporting is materially accurate and transparent.
Compilation - Lowest Level of Assurance Service
Converting your data into a financial statement can be challenging. Here at BIKO our compilation service simplifies this process to convert your financial data because we understand accounting. As part of our process, we read every financial statement for obvious errors prior to it being issued to you. Our compilation service gives you the confidence that the financial statements accurately reflect your data.Our clients that select this approach do not need assurance that their financial statements are audited or reviewed. However, they want a Professional to compile their financial data into financial statements
Business Recovery
Our Recovery Solutions team has significant experience in all aspects of recovery work dealing with both corporate and personal matters. The team will analyze your threats and weaknesses and explain the options available and those suitable to your needs. Upon instruction the team will act promptly, professionally and effectively.
We have developed a large network of business contacts and professional advisers to include bankers, solicitors and accountants. In many instances their professional advice has led to the rescue in whole or in part of ongoing businesses with the protection of employment for members of staff. Their work includes dealing with family run businesses to large companies. Advices can be given dealing with:
Company voluntary arrangements (CVA)
a procedure to enable ‘Recovery Solutions’ to assist with the restructuring of a company or to assist where a company may be encountering cash flow difficulties. This procedure enables the company’s directors to retain their executive powers and continue the business under the supervision of a Supervisor (an Insolvency Practitioner). The CVA procedure will enable creditors to benefit from profits and cash generated from the ongoing trade.
Individual voluntary arrangements
Advising individuals with financial difficulties to benefit from ‘Recovery Solutions’ to avoid bankruptcy which can achieve a better outcome for the individuals and their creditors.
Advice to companies facing financial difficulties
Assisting directors in evaluating and implementing potential solutions to financial difficulties. This includes liaising with stakeholders.
Liquidation
Creditors Voluntary and Winding-up by the Court in respect of insolvent companies.Members’Voluntary in respect of solvent companies, used for taxation and restructuring purposes.
Administration
a recovery procedure to enable the rescue of a business in whole or in part as a going concern and to enhance, in most of the case, the outcome for stakeholders.
Company Secretarial
Company secretarial work is a highly legalistic area that becomes ever more complex and time-consuming as the company grows. Moreover, failure to comply fully can lead to companies being struck off and even to the prosecution of directors.
Delegating this complex work to BAS’s expert team lets you concentrate on your core business, secure in the knowledge that you are compliant. Depending on your specific needs, BAS can take care of the whole job or just the more complex procedures.
We keep up-to-date with developments through regular contact with Rwanda general registrar and our membership of professional group. As a team, we are familiar with a wide range of industry sectors and services, understanding the specific needs of our clients
From strategic planning to business management, special projects, and day-to-day financial operations, BAS help its clients addressing a broad range of financial challenges and finally help them achieve greater business value: We understand what finance organizations need and what challenges they are facing. We help organizations to achieve better control and visibility of their operations by capturing insights from clients’ data through analysis, addressing clients’ specific need, and arming finance entity with real time reporting. We create, grow and sustain value by providing the following:
Financial Operations
- AR and AP management
- Audit Preparation
- Cash Flow Management
- Chart of Accounts
- Financial Reporting
- Foreign Operations & Currency
- Internal Controls
- Payroll &Tax Compliance
- Period-End Closing Procedures
- Management Accounting
- First adoption IFRS
- Long Term Growth
- Operational Analysis & Strategy
- Risk Management
Business Management
- Budgeting
- Break-Even Analysis
- Cash Flow Forecasting
- Commission & Incentive Plans
- Contract Negotiation
Strategy & Consulting
- Business Planning
- Equity & Debt Financing
- Exit Strategy Planning
- Financial Modeling
- Internal Audits
- Corporate Governance
- Expense Reduction
- Expense Reporting
- Internal Fraud
- Lease Accounting
- Management & Business Plans
- Performance Measurement
- Profitability Improvement
Tax Advisory Service
Our tax advisory services address the needs and objectives of our clients, enabling them to reduce as much as possible their tax liability. Our team of tax specialists help you assess and anticipate opportunities and threats that may impact your tax situation. We assist you in all aspects related to tax planning and compliance. So our services include:
Reviewing annual financial statements for tax issues during the course of the audit;
Preparing and submitting annual tax returns
Preparing income tax computations
Computing and advising on the annual income tax installment payments
Advising on the tax position
Handling Revenue Authority inquiries on clients’ behalf and playing a facilitation and liaison role in the event of revenue audits.
We provide clients with regular updates on changes in tax laws and their impact on business firms, non-business organizations, and individuals.
Tax Health-Checks
These involve reviewing in-house tax operations; PAYE tax, withholding tax, VAT for purposes of ensuring compliance and establishing any possible tax planning opportunities.
Tax pricing
Our advice can tax one of the following form: (1) formulation and preparation of Transfer pricing policies, (2) assistance with implementation of TB policies and making of TB adjustments
Executive and Employee Returns
We handle tax affairs for individuals by preparing and submitting returns for the directors, management, and other employees.
Tax Consultancy and Advisory services
This covers a wide range of services including tax consultancy to assist business decision-making and planning, providing answers to specific tax inquiries, preparing industry or company tax position papers. We also evaluate clients’ tax risks exposure and work closely with the client to establish a prudent tax risk management policy
Audits & Inquiries Advice
We provide advice and guidance in the event of Revenue Authority audits and inquiries reviewing the technical basis of matters raised by the Revenue Authorities; and generally facilitating the process on client’s behalf. We have tax attorneys in our network that assist our clients in courts and tribunals, if we believe that our clients were unfairly taxed.
ACCOUNTING SERVICE
Whether your area business is just starting up, on track, or facing tough choices, your outsourced accounting provider must deliver you sound fundamentals, and a simple, transparent, intelligent service that is cost-effective.
BIKO’S outsourcing accounting services can provides you with the following benefits:
- It can make you more competitive while remaining focused on their core activities then the internal resources are freed up and can be assigned to added-value tasks.
- It can provide you with cost Reduction and optimization and flexibility of human resource management.
- It can reinforce traceability and control of your activities and Compliance with the accounting and taxation rules and regulations
Regardless your size we can offer one the following services
Accounting personnel training
BIKO offers our clients the opportunity to have personalized training that can increase budgeting, management, and accounting procedures proficiency of their staff. We identify where you may have specific skill or learning gaps, and tailor an onsite training to match, a method that can significantly reduce downtime.
Accounting personnel training
BIKO offers our clients the opportunity to have personalized training that can increase budgeting, management, and accounting procedures proficiency of their staff. We identify where you may have specific skill or learning gaps, and tailor an onsite training to match, a method that can significantly reduce downtime.
Consultations and training on application of IFRS/IPAS
IFRS/IPAS principles ensure consistency in financial statements and facilitate cross-comparison of financial information across different enterprises. If you are looking to tighten your internal controls, or prepare for audit, BIKO’s Audit & Assurance professionals can customize a BIKO training to fit. We stay abreast of the latest professional standards and regulations for the industries we serve and the accounting profession in general through regular training in our own organization and will pass our knowledge on to your team.
Financial reporting
Preparation of financial statements is a core service at BIKO. Solid financial statements, whether prepared for an audit or another important business requirement, can reveal information needed for decision making and help you avoid costly business breakdowns.
Book Keeping
BIKO.’s accounting outsourcing services goal is to reduce the burden of the routine non-core tasks and functions also lowering the cost which will free up the Finance Department staff’s valuable time and give them more freedom to focus on their primary business functions (Strategic Management and planning ) to increase revenue growth and annual profits. Our outsourcing team can provide you with a full bookkeeping service, or you can choose our support to be focused on particular areas of your accounts, such as the debtors ledger, payroll, VAT or bank reconciliations.
Our bookkeeping service delivers key benefits
- Online access: you can view your books and records remotely and securely, whenever you wish.
- Web based workflow: you will benefit from streamlined processes, as our web-based workflow allows us to work together with our clients. Together we decide how and what information is captured and devise business rules and approval processes. This will maximize efficiency, speed up processes and give complete transparency.
- Appropriate software: we use software and accounting packages appropriate to the nature and complexity of the businesses we support. Alternatively, we will work with your current solution.
- Appropriate accounting: we can apply our standard chart of accounts in your business or adopt your own accounts framework.
- Flexibility: we can maintain areas of accounts, in line with your business needs and preferences.
- Efficiency: we capture, process, and reconcile your business data in the most efficient and effective manner.
- Accuracy: our professional expertise ensures the accurate processing of your accounting information, even in the most complex and technical areas.
- Assurance: we maintain your books and records in compliance with all current regulations and your business requirements.
Technology
Our advisory team can help you identify the right solutions to meet your financial management requirements. We also offer independent advice and recommendations to help maximize the effectiveness of your IT systems. We can ensure that your organization is using the most appropriate accounting software. If you are frustrated with your existing system, or wish to implement a new or enhanced system, BAS can give you objective advice on the best choices.
Book appointment
If you have questions regarding our accounting services, schedule a call today