Cheap accountants / auditors / company secretaries for small new company?

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  1. #1

    Cheap accountants / auditors / company secretaries for small new company?

    Hi there!

    I'm now in the process of opening up a new limited company. It is small-sized - some 10 invoices per month and a revenue of about HKD 45k / month.

    I am currently considering OSOME to act as company secretary. They charge HKD 5K a year for the service. They offer accounting services for HKD 700 / month, but I figured that given the low complexity of the business I could just keep the records myself and submit them to an auditor, or ideally find a cheaper option.

    Do you know of any good companies who can take care of any of this? A cheap one-stop-shop who will do it all for a reasonable price?

    Thanks so much!


  2. #2

    Join Date
    Dec 2011
    Location
    Sai Kung
    Posts
    275

    Have PMed you the contact details of a friend who is running his own practice. May not be "cheap", but can explore options for you or introduce you to a smaller firm who might be willing to.


  3. #3

    Join Date
    Aug 2013
    Location
    The World
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    1,948

    Flexkin CPA are quite decent.


  4. #4

    Join Date
    Feb 2007
    Location
    Shek Tong Tsui (HK Island)
    Posts
    266

    Investment to your tuition fees

    Would suggest that you consider that $700 per month as "investment" for tuition fees for the first year. 12 x $700 => $8,400 It is easier to have company secretary and bookkeeper together for first year.
    The fees of 5k for co sec and 700 per month seems reasonable, as this is the similar amount that my sister company is charging to the small business customers.

    This 8k will be worth its weight to reduce your stress during the first year of a business. Especially on the setup of the Cash-Flow-Statement.

    You are a business owner, not an accountant. Let your co. secretary "set-up" your initial books for you properly; coz it is a pain in the arse. If you try to do it by yourself, chances are you will end up paying more for someone else to do the "clean-out" when you need to submit your tax returns in the next coming year.


    Quote Originally Posted by lemursinhk:
    Hi there!

    .... They offer accounting services for HKD 700 / month, but I figured that given the low complexity of the business I could just keep the records myself and submit them to an auditor, or ideally find a cheaper option.

    Do you know of any good companies who can take care of any of this? A cheap one-stop-shop who will do it all for a reasonable price?

    Thanks so much!

  5. #5

    Join Date
    Feb 2007
    Location
    Shek Tong Tsui (HK Island)
    Posts
    266

    Lion CPA team are quite decent. They are the bookkeeper for my friends shops and he is quite happy with their services; coz they forced him to set up the accounts ledger in a disciplined way, put aside money for his taxes and scolded him for his cash flow management. Good thing too, coz he was burning too much cash.
    Lion is NOT cheap though... pay peanut get monkey.
    https://www.lioncpa.hk/