End-to-End Accounting Services for Small Businesses, Startups
and SMEs in the Philippines
You Run Your Business.
How Our Accounting Services Work
Assessment & Set-Up
Managing Your Accounts
Closing Your Accounts
Accounting Services Trusted By 100+ Startups, Small Businesses and SMEs
Across the Philippines
CloudCfo Is A Trusted Accounting Services Provider Based in Manila, Philippines. By Leveraging Cloud Accounting Technology, We Help Start-Ups, Small Businesses, and SMEs To Grow. We Develop Your Financial Processes. We Streamline Your Accounting Function. We Monitor Your Financial Controls.
This Is The Future of Accounting Services In The Philippines!
6 Reasons Why Your Business Needs Accounting Services in the Philippines
Complex Compliance Framework in the Philippines!
Whether you run a small business, SME or a larger corporate enterprise, your business can benefit significantly from accounting services in the Philippines to help navigate the complex local PH finance and compliance framework.
For most businesses in the Philippines, tax and compliance obligations apply on a monthly, quarterly and annual basis – also bi-annually in certain industries! By engaging an expert provider of accounting services, your company gains access to an accounting team with a wide range of skills, knowledge and expertise to help ensure 100% compliance with all relevant laws, updates in finance and taxation legislation and all other accounting-related compliance activities that apply to your specific industry or business model.
When engaging an accounting services provider, your PH business can benefit from a team of accountants who will already have worked in a similar industry or with a similar business model to your business. This means that your accounting team will be aware of all of the various compliance obligations that apply specifically to your business in the Philippines!
In short, if your PH business engages a professional, competent and experienced provider of accounting services, you can gain access to an accounting team that understands exactly what is required to ensure that your business remains 100% compliant at all times.
Online Accounting, Cloud Technology and Systems
An expert provider of online accounting services can set up and establish an accounting system for your business to help run your accounting function with much greater levels of accuracy, efficiency and automation.
Cloud accounting systems are incredibly effective and inexpensive solutions that enable business owners, managers and founders to manage their finances anywhere and anytime. A cloud accounting system also enables an online accounting services provider to manage a company’s finances with full transparency – meaning you will always know what your accountant is doing!
Cloud accounting systems, such as Xero and Quickbooks Online, are now being used regularly across the Philippines as more and more startups, SME businesses and larger corporates transition to an online accounting and finance function via digital and cloud technology.
By selecting an expert accounting provider who leverages cloud accounting technology and other online solutions to perform their accounting services, your PH company can transition to a much more effective and streamlined online solution for finance management. In short – if you are seeking to engage accounting services for your PH business, make sure the accounting provider utilizes online accounting solutions when performing all of their services!
Accounting for Business Growth
A trusted provider of accounting services in the Philippines will be able to add real value for a business from the perspective of growth and scale!
When considering growth, business managers must ensure that they are making strategic decisions based on accurate underlying commercial and financial data. They must also, however, ensure that all business functions are ready for growth. This is particularly important in the case of the finance and accounting function.
A competent accounting provider for startups and SMEs should always ensure that their services are designed to enable their clients’ accounting function to scale as their clients’ businesses grow! How? By ensuring that best practice accounting processes, controls and systems are in place to support significant increases in sales transactions, headcount, disbursements, supplier relationships and any other form of commercial activity that might impact company finances.
In short, by engaging a top provider of accounting services that focuses heavily on accounting processes and systems, a business can scale in confidence without worrying about the finance and accounting function being left behind!
For businesses in the Philippines, remember that growth and scale can be challenging! If, however, you have accounting services engaged to look after your accounting function, management can focus its efforts and attention on growing the business!
Independent Accounting Oversight
Business owners, founders, investors and shareholders will always have a greater level of comfort with the knowledge that a competent and independent accounting services provider is managing the books and finances of their business here in the Philippines.
Through an accounting services provider, you will have a team of independent accountants managing, monitoring and generating reports on a regular basis for your business. As such, management benefits from an integrated accounting service that offers unbiased financial and accounting oversight.
This enables business owners to concentrate on running other key parts of their business – including managing the sales pipeline, developing technology, improving service levels and executing strategic decisions – without having to constantly worry about whether or not their accounting books are in order!
For many companies in the Philippines, an annual audit of the company’s finances is a statutory requirement under law. This audit must be performed by a competent auditor who is entirely independent of the company and independent of the accounting provider. In circumstances where an independent auditor is auditing the work performed by an independent accounting service provider, business owners can have full confidence that their financial governance is in top shape!
Accounting Processes and Financial Controls
For businesses in the Philippines, it is critical that your accounting team works within a well managed framework of systems, processes and controls. This is to ensure that your company can meet all of the many tax and compliance obligations that it will face each month in the Philippines! Otherwise, it will be very challenging to maintain 100% compliance!
If, however, your business engages a provider of accounting services that will also support with the implementation of financial processes and controls, your business can effectively outsource the set up and maintenance of your entire finance function!
Whether it is a process for revenue recording, expense processing, tax compliance, payroll or financial reporting, a robust process for each workstream can ensure that every element of your accounting function is 100% efficient and streamlined.
If you are working with an accounting provider that relies heavily on process, this can also help your business ensure that documentation is generated and provided on a timely basis. Why is this important? It will help ensure that tax filings are always submitted before each BIR tax deadline. It also means that your monthly financial reports will actually make sense!
At CloudCfo, we focus on process and controls across all of our accounting services. We provide a framework to enable business growth under the sometimes complex compliance framework in the Philippines. Expert accounting services should always provide for robust financial processes and controls!
Eliminate Recruitment Costs
It can take significant resources, time and costs to build a capable accounting team in-house in the Philippines. The challenge increases as many businesses move towards a remote working set-up for their staff making it more difficult to monitor and manage staff performance levels.
By engaging an accounting services provider, a business can eliminate the cost, time, management and uncertainty of recruitment. Costs related to employee benefits can also be avoided. Training, upskilling and mentoring requirements are also removed as a business only needs to ensure that they have engaged the right accounting firm or accounting partner!
Business will not be required to consider statutory government contributions, 13th Month Pay requirements or DOLE obligations for its accountants when engaging a provider of accounting services. These obligations will, instead, be managed internally by the accounting provider itself!
The challenges associated with employee churn are also significantly reduced. If a member of your own in-house accounting team leaves the company, it can be a struggle to replace them and train up a new employee on existing processes. When engaging an accounting services provider in the Philippines, this issue does not arise! The accounting services provider can simply add their own staff member to your company’s accounting team. This staff member should already be experienced and knowledgeable on how the firm’s accounting services work!