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Professional accounting services in Hong Kong.

Run your own business without the day-to-day hassle of maintaining your accounts. With our reliable accounting services, you can continue to enjoy the freedom of running your Hong Kong business with the peace of mind knowing that your books and financials are healthy and up to date.

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Accounting services in Hong Kong

Smart accounting services that scale with your needs.

Flexible options

Choose the accounting services that you need and pay based on the volume of transactions. Some clients engage with us on a monthly or quarterly basis, while others opt for just the year-end report.

Timely reminders

Our proactive accountants will always remind you of important deadlines, along with the suggested course of action so that you will never have to worry about missed deadlines or late fees.

Real-time access

We use QuickBooks & Xero that can be accessed by you and us at the same time. If you wish, you can enter the transactions by yourself to save some bookkeeping costs.

Essential accounting services

Bookkeeping & statutory compliance.

  • Bookkeeping & transaction processing

    • Bookkeeping either in your or our office
    • First, we will set up your books and all of the ledgers required for your business in Xero or QuickBooks.
    • We will then assist in maintaining monthly bookkeeping of your company based on approved payment vouchers, approved claim forms, bank statements, bank-in slips, bank credit advice, bank debit advice and other accounting source information provided by your management.

    Monthly, quarterly or annually

    Financial reporting / Management accounts
    • Preparation and submission of the monthly accounts (Trial Balance, Income Statement, Balance Sheet and Bank Reconciliation) to your local office and the headquarters for approval
    • We can also provide bank signatories if required.

    Monthly, quarterly or semi-annually

  • Year-end financial statement*

    We will prepare the year-end financial statement based on the monthly/quarterly accounts that we have prepared, or we can use your existing financial records to produce the annual accounts. We can also recommend an appropriate auditing firm for your business.

    Annually

*Government requirement

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Additional accounting services.

Depending on your company size, you may also need some of our ad-hoc & ongoing services:

Vendor payment support

We can act as your finance department to manage your funds. This service includes receiving and reviewing incoming invoices from vendors, obtaining approval from client’s personnel and payment processing based on an agreed payment schedule.

Management reporting

  • Design and implementation of the accounting system and reporting structure for newly set up companies
  • Preparation of periodic management reports, including group reporting packages
  • Preparation of consolidated financial statements for statutory or management reporting purpose

Commercial (trade) services

We provide international cross-border business ventures with an invoicing and back-office administration function to avoid having to staff their operation in Hong Kong. Using a company established in Hong Kong, we will prepare an invoice on your company’s letterhead and bill the purchaser of the goods which have been shipped directly from the supplier in Asia. We will pay the supplier and collect the money on your behalf from the purchaser. Learn more

With our commercial trade services, we help our clients to:

  • Manage a fully functional commercial back-office in Hong Kong without employing or relocating staff
  • Introduction to commercial banks and institutions in Asia to arrange trade facilities for new and established businesses
  • Receive and implement sales and purchase orders and commercial documentation, such as L/C, D/P or D/A
  • Preparation and filing of import and export declarations to comply with trade regulations
  • Liaise with vendors, clients and factories/suppliers in China
  • Create commercial invoices on client’s company letterhead and liaise with vendors and customers
  • Prepare bills for collection and documents for presentation to banks
  • Liaise with banks and appropriately instruct banks as per commercial documents
  • Liaise with logistic companies and insurers on commercial shipments
  • Arrange and liaise with quality control inspectors in China

Review of accounting policies & procedures

  • Confirm the technical accuracy of the current accounting policies
  • Updates accounting policies to reflect the current accounting developments
  • Benchmark the current accounting policies against industry norms
  • Additional explanatory text as appropriate which are relevant to the company

Financial planning & analysis

Going beyond reporting for statutory purposes, we can assist with budgeting and forecasting, oversight of internal controls and more.
Acclime benefits

Why outsource your accounting to Acclime.

At Acclime, we have the team and expertise to reliably set up and manage your accounting, whether you are a local limited company or a multi-regional business expanding to Hong Kong.

On-time and error-free

Lean in into the years of experience of our certified accountants and get your accounts managed worry-free. We deliver our work on-time and without costly mistakes.

Experienced accountants

We have a clear understanding of the local laws and regulations and can confidently guide you through setting up the right accounting structure and maintenance for your business.

Regional specialists

Our footprint in Asia can help accommodate your business expansion beyond Hong Kong to five other markets in Asia and counting.

Not happy with your current provider?

Move your accounting to Acclime.

Switching from one accountancy firm to another doesn’t have to give you sleepless nights! We will take care of the entire process for you, from start to finish, starting with contacting your current accountant to request all the info we need to register with Inland Revenue Department (IRD) to act on your behalf. So you can focus on running your business.

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FAQ

Common questions.

What accounting standards do Hong Kong companies need to follow?

Companies incorporated in Hong Kong are required to prepare financial statements in accordance with Hong Kong Financial Reporting Standards (HKFRS). HKFRS is substantially converged with IFRS, making Hong Kong-prepared accounts broadly acceptable to international investors and lenders. Under the Companies Ordinance (Cap. 622), all companies are required to prepare accounts that give a true and fair view and have them audited annually by a Certified Public Accountant registered in Hong Kong.

Small companies meeting certain thresholds may qualify for simplified reporting, but the audit requirement applies to all private limited companies regardless of size. For a full overview, see the guide to Hong Kong accounting standards and compliance requirements.

What are the annual accounting and tax filing deadlines for a Hong Kong company?

Hong Kong private limited companies face four recurring annual obligations, each with its own deadline tied to either the financial year-end or the incorporation date:

  • Preparation of audited financial statements within 9 months of the financial year-end for private companies
  • Filing of the Profits Tax return with the Inland Revenue Department (IRD), due on a date notified by the IRD with extensions typically available through a tax representative
  • Submission of the Employer’s Return each year, reporting employee remuneration and benefits
  • Filing of the annual return with the Companies Registry within 42 days of the anniversary of incorporation

Missing these deadlines can result in estimated tax assessments, penalties and surcharges from the IRD. Companies with a 31 December year-end face a compressed window where audit completion, tax filing and employer reporting all fall in the same period.

How should a Hong Kong company choose its financial year-end?

Hong Kong companies can set their financial year-end to any date, and the choice has practical implications for audit timing, cash flow and tax filing. The most common year-ends are 31 December and 31 March, partly because some corporate services providers batch their filing schedules around these dates.

A year-end chosen to align with a group’s reporting cycle reduces consolidation complexity. A year-end that avoids peak audit demand periods (typically March to June) can improve auditor availability and turnaround times. Companies should also consider:

  • Whether the year-end aligns with natural revenue cycles or seasonal cash flow
  • The nine-month window for completing the statutory audit before the Profits Tax return is due
  • Group consolidation requirements if the company is part of a larger structure

Changing the financial year-end after incorporation is possible but requires notification to the IRD and the Companies Registry and may affect the first assessment period.

What is required for a Hong Kong company’s annual statutory audit?

Every Hong Kong private limited company is required to have its financial statements audited each year by a Certified Public Accountant holding a practicing certificate issued by the Hong Kong Institute of Certified Public Accountants (HKICPA).

The auditor needs to be independent of the company and cannot be a director, officer or employee. The audit must be completed before the Profits Tax return is filed, as the audited accounts form part of the tax submission.

Directors are responsible for preparing financial statements that give a true and fair view in accordance with HKFRS and for providing the auditor with full access to records and information. Companies that have been dormant throughout the financial year may apply for an audit exemption subject to specific conditions under the Companies Ordinance. For more details, see the guide to understanding annual statutory audit in Hong Kong.

What bookkeeping records is a Hong Kong company required to maintain?

Under the Companies Ordinance (Cap. 622) and the Inland Revenue Ordinance (Cap. 112), Hong Kong companies must keep sufficient accounting records to explain their transactions and financial position at any time. Records must be retained for at least seven years. In practice, this means maintaining:

  • Receipts, invoices and payment vouchers for all income and expenditure
  • Bank statements and reconciliations
  • General ledger and sub-ledgers recording all assets, liabilities and equity movements
  • Records of goods purchased and sold where the business trades in physical goods, including details of buyers and sellers

Records must be kept in a form that allows audited financial statements to be prepared in accordance with HKFRS. The IRD may request access to underlying records during a profits tax assessment or inquiry, so document completeness directly affects audit risk.

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Make running your business in Hong Kong easier with our flexible and reliable accounting services.

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