STEP 3 OF ACCOUNTING PROCESSES IN HK: SEND IN YOUR OUTSTANDING INFORMATION

Step 3: Send in Your Outstanding Information As is often the case, while completing the vouchers some information is missing. This could mean the accountant cannot figure out how an invoice is paid, credit card statements are missing, some receipts are illegible, or even the receipts are in another language. When this happens, the accountant …

Hong Kong International Outdoor and Tech Light Expo

The 2nd Hong Kong International Outdoor and Tech Light Expo will be held from the 26th of October to the 29th of October in the AsiaWorld-Expo. The admission is free only to trade visitors aged 18 or above. At this expo, there will be: Lighting Solutions and Systems (New) Outdoor Lighting Professional and Industrial Lighting …

STEP 2 of ACCOUNTING PROCESSES IN HK: CREATING VOUCHERS

Step 2: Creating Vouchers Now that all your invoices and receipts are sorted (See Step 1), the accountant must create vouchers. A voucher is made for the income earned each month, and the different expenses incurred each month. In accounting, earned income and incurred expense does not necessarily mean money was collected or spent. Earned …

4 STEPS OF ACCOUNTING PROCESSES IN HK- STEP 1: CLASSIFYING ACCOUNTS

Ever wonder what magic goes on behind the accountant’s desk that turns your shoe box of invoices and receipts into an income statement? It is not magic at all. Rather, it is a thorough process that can be broken up into four steps. STEP 1: CLASSIFYING ACCOUNTS All your invoices and receipts sent in must …

What is a representative office?

When an overseas company, a company that is not incorporated in Hong Kong, establishes a place of business in Hong Kong, that is a representative office. The establishment of representative offices in Hong Kong by an overseas company is governed by Part XI of the Companies Ordinance.  Many companies will create a representative office when …