Scope of Services

  • General Ledger daily update
  • Monthly bank reconciliation
  • Inventory and warehouse activities development
  • Backlog unrecorded transactions coverage
  • Policies and procedures manual preparation
  • Monthly cash flow forecasts
  • Fixed assets management
  • Monthly, quarterly, and annual financial statement reports
  • Annual budget 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 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.

itialuS 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.

WallPostallows 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 WallPostis crucial since it handles the burden of all the steps mentioned above. WallPosttracks 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.

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 WallPostis crucial since it handles the burden of all the steps mentioned above. WallPosttracks 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 itialuS 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 itialuS, 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

itialuS 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.

Human Resources Management is the 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. itialuS offers solutions that can multiply the effectiveness of your most valuable resources, and will help you avoid the real business world's many pitfalls. For a business leader, Human Resources is the greatest ally in retaining the best team possible in an organization.

How can HR play a vital role in your company's leadership?

1: Leadership & Skills Development

itialuS' competent HR team possesses international experience and can help cultivate talents while saving money and effort. At itialuS, we focus on investing in your company's future leadership and technical prowess through data and talent management solutions.

2: Building the Right Team

Ever heard of the Pareto Principle? It states that 80% of the responsibility and work are shouldered by only 20% of the employees. This is an issue many executives face daily. If you wish to avoid falling into this dynamic that results in unfavorable consequences, a Human Resources partner’s expertise in organizational development and data management can help you manage your team and maximize its potential.

Proposed HR Services Solutions

itialuS offers the below services at an affordable monthly cost. Read more for an overview of how itialuS can help your organization function at its best with the least possible impact on your company's revenue.

Organizational Development

  • Reviewing the company's mission and vision, core values, size of its labor force and HR teams
  • Evaluating the current situation
  • Implementing and developing organizational policies and procedures
  • Managing data
  • Setting up effective organizational structures and processes

HR Policies and Procedures

  • Providing business travel policies
  • Handling processes and procedures on grievances
  • Issuing Performance Management reports
  • Implementing progressive discipline or disciplinary action
  • Hiring and managing recruitment
  • Handling employee separation (resignation, termination, and retirement)
  • Employee benefits and eligibility: death benefits, bereavement leave
  • HR training and professional organizational development

Labour Law Compliance and Record-Keeping

itialuS provides its clients with an effective archiving and bookkeeping system for employee records. This includes:

  • Employee profiles
  • Employee summaries (new hires, separation, gender population, etc.)
  • Document expiry summary reports
  • Employee leave management system

itialuS 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

International VAT/Tax Recovery

Value Added Tax (VAT) is charged on the majority of business expenses incurred by companies that travel to do business inside the United Kingdom, European Union, Switzerland, and Norway. The tax authorities in these countries allow foreign companies to recover their paid VAT on business expenses to promote foreign trade and investment. itialuS handles the burden of these procedures associated with the reclaiming process and can retrieve VAT worth up to billions of Euros for your company.

Business expenses on which VAT can be reclaimed:

  • Hotels/Accommodation and related expenses (food & beverage)
  • Conferences, exhibitions, event attendance and participation
  • Professional/consultancy fees
  • Intercompany fees/information office expenses
  • Data & colocation services
  • Movie/television production and broadcasting costs
  • Tooling and warranty Costs, and more...

itialuS' years of expertise in the VAT recovery process has enabled us to establish a set of procedures that ensure your claims are maximized and processed in the shortest time frame possible. We also ensure compliance with international VAT laws and manage VAT registrations.

  • One-stop solution for all foreign VAT reclaims from over 40 countries
  • Time-tested processes for VAT recovery maximizing your VAT reclaims
  • Coordination with local tax authorities in the local language through a skilled, multilingual processing team, which improves the effectiveness of our service
  • Online status reports that guarantee full transparency on the status of your VAT reclaims
  • Fees are only charged on effective reclaims. No refunds = no fees.

Our VAT services include

  • On-site invoice retrieval: auditing the client's international expenses at their premises and identifying invoices that are eligible for VAT recovery
  • Self-retrieval services: guiding our clients through the invoice extraction process, and cross-referencing their findings using various reports to ensure that every eligible invoice has been located
  • Reissuance of incorrectly formatted or non-original invoices from suppliers when necessary
  • Processing and submission of foreign VAT claims in over 40 countries
  • Obtaining credit notes from suppliers or service providers in case of incorrectly charged VAT

Have questions?

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