In the course of operation, every company in Hong Kong may have payment transactions with its partners (such as suppliers and customers). If the payment has not been settled at the end of the accounting period of the audit report of the current year, it will be required to make payment confirmation during the audit. The closing date is12month31It has been issued before this dateINVOICEBut the money wasn't paid until12month31At this time, accounts receivable will be generated. When the accountant is doing the annual audit, it is necessary to issue a letter to the corresponding company to check whether the account is consistent with the actual. If there is a discrepancy, it is necessary to find out the reason, until it is confirmed that the audit report can be issued.

Some Hong Kong companies have a large amount of current and current funds, which will involve multiple documents, and the relevant parties may respond slowly, thus delaying the issuance of the audit report, which may lead to the Hong Kong company's profits tax declaration exceeding the statutory deadline, resulting in government fines. Then how does Huanze efficiently complete the verification of current payment?

First of all, when entering the site and starting the audit work, we will require the Hong Kong company to provide us with the current payment details of the fiscal year to end. According to the details, we can timely prepare the corresponding current payment confirmation letter and send it to relevant companies for confirmation. In this way, when the audit report is completed, in most cases, you will be able to receive the return of the money.

Secondly, in the verification process, the customer needs to communicate with the partner, urge the partner to cooperate and complete the verification as soon as possible.

Thirdly, if the current payment has been settled when the audit report is issued, you can provide the bank receipt of the settled payment and issue a corresponding statement, which can replace the letter of confirmation.
Many Hong Kong accountants usually send out the confirmation letter of current payment when the audit report is completed. In this way, the accountant can only sign the report when all the confirmation letters of current payment are received and the accounts are consistent. This will delay the time and easily lead to the problem of overdue profits tax declaration.

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