Accounting
Accounts Administration
ABMSZ ServicesReceive and validate financial data: Receive financial data, such as invoices, receipts, and bank statements, from clients or through electronic channels. Validate the data for accuracy, completeness, and compliance with Sri Lankan accounting standards and regulations.
Data entry and recording: Enter validated financial data into the company's accounting software or ERP system, following Sri Lankan accounting standards and principles. Record transactions, such as sales, purchases, payments, and receipts, in the appropriate accounts.
Accounts reconciliation: Perform regular reconciliation of financial accounts, such as bank accounts, credit card accounts, and vendor accounts, to ensure that recorded transactions match the actual transactions and identify and resolve any discrepancies in compliance with Sri Lankan regulations.
Value Added Tax (VAT) management: Ensure compliance with the Sri Lankan VAT regulations, including accurate recording and reporting of VAT on transactions, preparing VAT returns for clients, and lodging VAT returns with the Sri Lanka Inland Revenue Department (IRD) as required.
Payroll administration: Process payroll for clients, including calculating and withholding payroll taxes, preparing payslips, and managing employee provident fund (EPF) and employee trust fund (ETF) contributions in accordance with Sri Lankan payroll regulations.
Accounts payable management: Manage the accounts payable process, including reviewing and verifying invoices, obtaining necessary approvals, preparing payment requests, and processing payments to vendors based on agreed-upon terms and conditions in compliance with Sri Lankan payment regulations.
Accounts receivable management: Manage the accounts receivable process, including sending invoices to customers, tracking payments, and following up on overdue payments. Coordinate with clients to resolve payment disputes and manage debt collection in accordance with Sri Lankan regulations.
Financial reporting: Generate regular financial reports, such as balance sheets, income statements, and cash flow statements, in compliance with Sri Lankan accounting standards and regulations. Customize reports based on clients' requirements and provide insights and recommendations to clients for improving financial performance.
Compliance and regulatory reporting: Ensure compliance with applicable Sri Lankan financial regulations, including tax filings, statutory financial statements, and other regulatory reporting requirements. Prepare and submit regulatory reports to the IRD and other relevant authorities as needed.
Recordkeeping and documentation: Maintain organized and up-to-date financial records, including invoices, receipts, financial reports, payroll records, and other relevant documents, as required for internal purposes and compliance with Sri Lankan laws and regulations.