+356 27050897 kma@kmassociates.com.mt

Our Services

Management Accounts

Management accounting, unlike financial accounting, does not simply keep track of historical transactions but is also forward-looking and geared towards assisting management in the decision-making process.

Management accounting information forms part of internal company reporting, is confidential and normally only shared between management.

Rather than being developed with reference to financial accounting standards management accounts are prepared by reference to the needs of managers often using management information systems.

We are experienced in the preparation of periodical management accounts reporting and analytical reviews and are continuously servicing our clients with forward-looking management accounting strategies.

Back Office Administration

We provide quality data management services to companies which prefer to outsource the back office administration including their daily accounts and bookkeeping operations.

Enterprises can view the back-office administration as simply a bureaucratic necessity yet want to be certain that the back-office administration is being managed in conformity with local legislation. Consequently, many small and medium-sized companies, as well as larger firms and corporations, opt to outsource their back-office administration. 

The following are some of the daily accounting and other administrative services we provide:

  • Issuing invoices and statements
  • Keeping track of creditors (accounts payable) and debtors (accounts receivable)
  • Payroll (wages, salaries and commissions)
  • Bank reconciliations and recurring reports
  • Drawing up performance reports, balance sheets and other financial reports
  • VAT Returns and Recapitulative Declarations
  • Electronic submission of company annual returns to Registry of Companies (MFSA)
  • Company secretarial, National Statistics reporting, etc.

Payroll Preparation Services

Outsourcing your payroll processing could reduce considerably the accounting workload. The service keeps track of your employees’ records; calculating salaries and wages (including any commissions, bonuses, tax and N.I. deductions, etc); issuing payments to employees normally via online banking, accounting entries to record payroll, issuing monthly FS5’s, annual FS3’s / FS7’s (annual tax declarations) and any other payroll-related services.

We provide “Tax Practitioner” services consisting of the facility to electronically submit the monthly and annual government FSS reports and having real-time access to a statement of balances with the IRD including settlements of monthly dues. For several years we have performed payroll bureau services proficiently, guaranteeing a professional and discreet service at all times and consistently meeting deadlines and conforming to local laws and regulations.

Accounting Systems Implementation

Whether you are starting a new business, expanding an existing one or simply want to change or upgrade an existing accounting system you will need a solid accounting set-up which is tailored to your business needs.

We have been involved in the implementation of accounting systems for a number of our clients; our experience in this area contributing towards identifying and implementing the most suitable accounting system for our clients.

Preparation of Periodical VAT Returns and VAT Recapitulative Declarations

VAT accounting services are essential to ensure your business complies with the relevant statutory requirements. Many view VAT as a complex area of business and need to keep track of all VAT payments; arriving at the correct amount for VAT deductions can sometimes be a complicated task. Keeping abreast of VAT regulatory changes is essential to ensure clients’ systems are up to date with the law and to ensure ongoing compliance.

Our VAT accounting services range from providing advice, assistance with first registration, managing your VAT accounting through to preparing and submitting your VAT Returns. In January 2010 the EU-Services Directive came into force. With effect from this date revenue from services to intra EU markets as well as goods sold need to be electronically reported (online filing) each month through the VAT Recapitulative Declaration.

We can assist your business in completing the VAT Recapitulative Declaration. If your company is carrying out cross-border business, whether with EU and / or non-EU countries you will find useful the services of a professional VAT accountant to avoid certain pitfalls, double-taxation and other issues that may arise through international trade.

We will provide you with VAT advice ensuring you select the optimal VAT scheme for your business. Since VAT requirements may vary between large and small companies, as well as different business sectors and according to products and services provided, VAT advice can prove invaluable in ensuring compliance with VAT legislation and avoiding VAT penalties.

Bookkeeping services

No matter how big or small the entity accurate bookkeeping practice is crucial to the success of any business. This is why many companies today choose to outsource the bookkeeping tasks to a professional accounting firm.

From small to medium-sized firms our bookkeeping and accounting systems are designed to meet the various bookkeeping service needs of any business organisation.

The list of cost-effective and accurate bookkeeping services provided by us includes but is not limited to:

  • Bank Reconciliations
  • General Ledger
  • Accounts Payable
  • Accounts Receivable
  • Payroll processing
  • Financial statements preparation
  • VAT accounting

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