Bookkeeping Services
Accurate bookkeeping is a pillar of running a successful company. Not only does a thorough bookkeeping ensure a sustainable and ongoing business, but it can also help you in filling in your legal requirements as an accounting firm.
Our financial services teams comprise of well-trained financial experts skilled at using the latest finance and accounting software known with WallPost, which is a web-based ERP. In addition, we utilize and comply with IFRS and GAAP standards.
Accounting and Finance
Scope of Services:
• General Ledger daily update
• Monthly, quarterly, and annual financial statement reports
• Monthly bank reconciliation
• Monthly cash flow forecasts
• Inventory and warehouse activities development
• Fixed assets management
• Backlog unrecorded transactions coverage
• Annual budget preparation
• Policies and procedures manual preparation
Bookkeeping services include the following:
• Bookkeeping (General ledger daily update)
• Maintaining Accounts Payable (cash out)
• Maintaining Accounts Receivable (cash in)
• Maintaining and cleaning up the General Ledger
• Bank Reconciliation
• Internal Audit and Compliance
Bookkeeping (General Ledger Daily Update)
Bookkeeping involves recording a company’s financial transactions daily. Proper bookkeeping enables companies to track all information and transactions and make key operating, investing, and financing decisions.
Hercules Professional Services boasts a wealth of knowledge and experience in Bookkeeping services. Our financial team consists of well-trained experts skilled at using the latest finance and accounting ERP software known as WallPost, and complies with international accounting standards (IFRS/GAAP).
Maintaining Accounts Payable (cash out).
Ensuring that transactions are paid on time is crucial to maintain great relationships with suppliers and to the success of your business.
The Payables department is responsible for finding opportunities to save money by keeping an eye on potential discounts and incentives with vendors and suppliers. Accounts Payable must be scheduled to ensure that the least amount of money possible is paid, and avoid unnecessary payments such as late payment charges.
WallPost allows you to manage accounts payable easily by organizing accounts payable data, keeping you up-to-date with your finances and bill dues, and allowing you to track and manage outstanding bills, and generate and print reports such as statement vendors, the A/P aging, and supplier detail reports.
Maintaining Accounts Receivable (cash in)
Another critical duty of the accounting department is to track accounts receivable, including outstanding invoices and other required collection actions. Accounts receivable is responsible for creating and tracking invoices, and ensuring that these invoices are paid on time.
This explains why a system of friendly reminders such as WallPost is crucial since it handles the burden of all the steps mentioned above. WallPost tracks the amount of money you are owed and manages the overdue collection. The software also allows you to print reports, such as statement customer reports, A/R aging reports, and customers’ details reports easily.
Internal Audit & Compliance
The Internal Audit and Compliance department at Hercules Professional Services is responsible for overseeing the company’s financial operations, and ensuring that they comply with internal and external policies and regulations (IFRS/GAAP).
The department is also responsible for ensuring that risk management, governance, and internal control processes are operating effectively.
Monthly cash flow forecasts
We issue monthly forecasting reports showing estimated amounts to pay out and receive.
Inventory and Warehouse Activities Development
Through our inventory and procurement system, controlling the company stock and keeping inventory levels balanced becomes easier, without having to worry about having too much or too little in stock. Our system allows you to supervise ordering, forecasting, and storage management at all times.
Fixed assets management
At Hercules Professional Services, we have the complete modules that qualify us to manage asset creation, tracking, and evaluation, ensuring that your company’s tangible and intangible assets are put to their highest and best use.
Backlog Unrecorded Transaction Coverage
Hercules Professional Services prepares and uploads your company’s unrecorded transactions and backlog into the WallPost Software.
Annual Budget Preparation
The right cash flow projection can help your business achieve its targets. We prepare yearly budget estimations to predict your income and payments on a short-term basis, including detailed budget balance sheets, cash flow budgets, income sources, and expenses, etc.
Don’t hesitate to contact us and discover business solutions tailored for your needs.
Management Consultancy
With Hercules Professional Services you can be certain that all your management troubles will receive a tailored solution. Our management advisory services include mergers and acquisitions integration, management reporting systems, operational analysis and more.
Human Resources Services
With a strategic approach to the effective management of people in an organization to contribute to its competitive advantage. It is an essential process for corporate governance to facilitate effective entrepreneurial and judicious management and deliver long-term success for the company.
Are you looking for a partner that could take care of various HR tasks for you while you focus on core creative tasks?
Hercules Professional Services can offer you organizational development, HR policies and procedures, diligent monitoring of employee leaves, performance management and more.
Find out more about how you can benefit from these HR services by contacting us today.
Payroll Services
Hercules Professional Services is responsible for creating payroll policies and procedures for clients and providing full payroll support including payroll management, filing, and issuing individual payslips.
Regular reports are issued to give our clients an overview of the following payroll items:
• Admin Staff
• Support Staff
• Project Staff
• Overtime Additions and Penalties Deductions
• Compensation and Remuneration Policy
• Salary Scale
What do you get with payroll services?
• Online small business payroll processing
• Faster and easier payroll processing — locally and globally
• Ability to pay different types of workers
• Certified, experienced payroll professionals available 24/7
• Automatic payroll
• Online employee self-service
• Integration with HR
Taxation
Company tax represents a substantial part of your trading costs. Moreover, the increased reporting obligations, robust investigation policies on the part of the tax authorities, and harsher penalties for noncompliance mean that an undue amount of your time and resources can be taken up collecting revenue for the Government.
We offer a range of services to help you minimise your corporate tax exposure and relieve you of the administrative burden of complying with tax legislation.
These include:
- Determining the most tax effective structure for your business
- Taking full advantage of tax opportunities and reliefs
- Achieving the optimum capital or revenue tax treatment
- Reducing tax on disposals and maximising relief on acquisitions
- Making the most of tax opportunities specific to your industry
- Meeting the rigorous demands of compliance including compay tax self assessment
- Acting on your behalf in discussions with the tax authorities
Business Strategy Services
Planning and executing a business strategy are two things we excel at. We understand the importance of corporate strategy to every business. We’ll help to transform your business, guiding you through every step, from strategic planning through to implementation.