Section 51C of the Inland Revenue Ordinance requires every person carrying on a trade, profession or business in Hong Kong to keep sufficient records in the English or Chinese language of his income and expenditure to enable the assessable profits to be readily ascertained.

  • Such records shall be retained for a period of not less than 7 years.
  • Failure to comply with the requirements of the Ordinance without reasonable excuse maybe
  • Liable to a maximum fine of $100,000.
  • The records prescribed in the Ordinance include books of accounts recording receipts and payments, vouchers, bank statements, invoices, receipts; records of the assets and liabilities; statements of trading stock, etc.


The Focus of Bookkeeping Services

  • Preparing books of accounts monthly, quarterly or yearly.
  • Managing old book of accounts.
  • Preparing annual financial statements include Balance Sheet and Income Statement.
  • Helping in setting up accounting system.
  • Arranging stock-taking, etc.


Content of Bookkeeping Services

  • Managing accounting materials, filing systematically and computerized bookkeeping
  • Preparing general ledgers, cash books, bank books, accounts receivable books and accounts
  • Payable books.
  • Preparing statement of bank reconciliation.
  • Preparing annual financial statements including Balance Sheet and Income Statement.