1- Bookkeeping and Value Added Tax (VAT) Services:
The aim of the bookkeeping service is to assist business owners and decision-makers in accessing accurate and timely financial reports. This facilitates the making of numerous decisions that contribute to the development and achievement of the organization's goals. The Lotus Company's team aids in financial management through daily and direct communication with accounting specialists. This ensures that you receive every piece of information from the right and qualified professional.
In addition, we offer Value Added Tax (VAT) services to ensure compliance with taxation regulations. Our experts guide you through the complexities of VAT, helping you manage and report your VAT transactions accurately. This not only ensures compliance with tax laws but also contributes to the overall financial health and success of your business.
What is the work journey like in accounting bookkeeping?
Your accounting needs are analyzed, and based on that, the Lotus team assigns a remote accountant and financial manager for you. They receive your financial transactions and invoices, ensuring timely and accurate financial and tax reports. The Lotus team is dedicated and experienced in providing you with specialized services.
The service benefits:
- Save over 70% of the costs associated with a full accounting team.
- Gain access to a team of specialists and financial consultants.
- Record accounting entries for purchases and expenses.
- Develop a chart of accounts tailored to the organization's requirements and business model (commercial/industrial/service).
- Prepare monthly and quarterly financial reports and statements.
- Perform bank reconciliations and finalize accounts.
- Submit tax declarations accurately and within the specified timeframe.
- Prepare the organization for VAT implementation in accordance with the executive regulations and legal requirements.
- Prepare quarterly financial analysis and compare the performance of the organization within the sector.
2- Financial Analyst Services:
Conducting a comprehensive performance evaluation and assessment of financial management for organizations can be achieved through various types, including:
* Ratio Analysis: Ratio analysis involves using a set of financial ratios to evaluate the financial performance of a company. These ratios encompass profitability, liquidity, and leverage. Analysts can utilize these ratios to assess the financial strength of the company and evaluate its quality as an investment.
* Vertical Analysis: This type of analysis aims to study the company's performance over time and identify changes in its financial positions. Vertical analysis allows analysts to understand the financial and operational developments of the company, pinpoint areas that need improvement or attention. Vertical analysis can be used to analyze annual, quarterly, and monthly financial data by comparing current data with previous data for similar time periods.
* Horizontal Analysis: Horizontal analysis aims to compare the performance of the company with other companies in the same sector or market. This type of analysis helps in determining the strength and quality of the company compared to its competitors.
3- Resource Management and Planning:
* Strategies in Resource and Financial Management: Implementing strategies in the management of financial and human resources to optimize efficiency and reduce operational costs.
* Utilizing Sustainable Resource Practices: Employing sustainable resource practices to address the challenges of increasing costs and the complexity of market dynamics.
