Financial Management & Accounting
Best Practices for Financial Management in China
Maintaining financial control and governance in China, in line with both local and international best practice is a major challenge for CFOs. PTL Group’s financial experts support its clients whether they already have an entity in China or not, in managing the financial operation in China. PTL Group’s team assists with implementing the head office policies locally and independently, and report directly to the CFO overseas.
PTL Group is not only a bookkeeping and accounting firm, but a trading company that manages the supply chain and financial transactions for more than 200 clients. Our financial and logistics management expertise lies in hands-on experience accumulated over 20 years of managing trade in China.
Our services – your financial governance:
Bookkeeping and Accounting: Managing a business entity in China requires full compliance with Chinese accounting rules (China GAAP), which are different than the accounting rules in other countries (Western GAAP). PTL Group has many years of experience in managing accounting systems and bookkeeping for western companies’ Chinese entities. We provide financial reporting in accordance with Chinese standards, while making all the necessary adjustments to meet the needs of the overseas CFO.
Financial Management, Budget Planning & Control: We operate as your in-house Finance Manager, Financial Controller or Accountant. We provide you with transparent and clear accounting reports.
ERP Management: PTL Group’s team is experienced with implementing and managing various ERP systems (Priority, Oracle, SAP, MFG and others). If required, PTL Group’s team can implement the client’s ERP system in China to manage and record the activity allowing immediate access to the data in China.
Advanced Management Report: Preparation of advanced managerial reports such as yearly budget, P&L, cash flow and other reports as required by the head office.
Tax Planning and Compliance: We help you prepare for local tax audits, in compliance with the latest rules and regulations.
Special Projects: We tailor individual service projects for specific company needs, such as data systems upgrading, due diligence processes, potential fraud investigations, subsidiary auditing and turnaround projects, local entity deregistration and more.
More information about financial management in china
5 Reasons to Outsource Operational Services in China
China Has Amended the Individual Income Tax Law
China has restricted its overseas transaction regulations
China’s Tax Offenders Blacklist System in a nutshell
Selling in China using a Letter of Credit? Read this.