OUR SERVICES

 Accounting is the financial backbone of any business. This entails keeping and maintaining all relevant books of accounts and disclosure of financial results and related information to management and external stakeholders (e.g., investors, customers, regulators) about how a company is performing over a specific period of time.   

• Bookkeeping - Using Accounting Software
• Financial Reporting -Monthly / Annual Financial Statements (Company/ Consolidated)
• Reconciliation                
•   - Account Reconciliation 
•   - Bank Reconciliation
•   - Credit Card Reconciliation
•   - Stock Reconciliation 
• Budget Preparation

 Accounts receivable is the recording and processing of financial transactions relating to sales and customers.

It is very important to identify the amount of revenue earned but not yet collected. It is a balance of money owed to the business by buyers who make purchases on account and agree to pay later. We will keep the records and provide you the accurate information on dues timely basis.

• Customer Aging Report
• Continuously monitoring any risk of non-payment or delay in receiving the payments

 The accounts payable process or function is immensely important since it involves nearly all of a company's payments outside of payroll.

It is important for a firm to manage its accounts payable effectively. If the accounts payable are paid too early, then it is unnecessarily using its cash, which could have been utilized elsewhere (opportunity cost). 

However, if it delays too much in making payments beyond payment due date, it may spoil its relationship with the suppliers, which will lead to stricter credit terms in the future.

We will ensure that accounts payable is to pay only the company's bills and invoices that are legitimate and accurate.

  Expressing an opinion on the true and fairness of financial statements of the company as required under the statute, accounting standards and guidelines issued by the regulator.

We understand the challenging nature of the turbulent Business Environment, in which all our Clients operate. Hence our Audit Approach is so designed to fulfill the Audit Responsibilities, Regulatory & Business requirements of a Country. We follow the Sri Lanka Auditing Standards and Best Practices designed by the CA Sri Lanka

• Internal control analysis.
• Reporting weaknesses in the internal controls.
• Suggestion and      consulting on transactions of complex nature.
• Drafting Audit      policy according to clients’ structure and legal set-up.
• Analyzing      applicable compliance according to corporate and taxation regulations.
• Filings of Financial Statements to various Government offices after audit.
• Updates required from point of view of regulations.

Internal auditing is an objective assurance and consulting activity designed to add value and improve an organization's operations. It can help an organization accomplish its strategic objectives by bringing a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, control, and governance processes.

• Advising organizational procedures being followed.
• Analyzing Accounting and Audit manual.
• Practicality and viability of existing controls and areas of improvement.
• Assessment of risks and open points.
• Checking the controls instituted within the system.
• Determining controls that are adequate to meet control objectives.
• Working out possible areas of improvement.
• Comparison of written control policies and adherence to same.
• Evaluation of department for internal controls, if exist 

If the Business processes are not finely drafted and implemented, there can be a high risk of non-compliance and inefficiency, even leading to frauds.

A regular check and a strict compliance on the processes is required to lower down the chances of fraud or break-down. 

In certain organizations, the working depends upon proper following of the processes due to statutory calls.

Audit of processes thus becomes important especially in concerns with complicated or legal processes.

We help you by- setting up organizational processes and if processes are already in place, then analyzing them and evaluating them, thus you can expect your organization have end-to-end solution. 

• Understanding the details of each process
• Writing up the processes with management suggestions
• Sample run of the processes
• Test of the processes applied Identifying area of improvement
• Re implementation of improved processes 

Accurate tax preparation and timely tax filing is essential for any effective and efficient tax plan. Our understanding of "audit-triggers" and the importance of the presentation of tax information allows us to minimize potential audit engagements. We take the time to look for and recommend tax savings opportunities for every client.

We provide full-fledged Tax Advisory services, including tax planning. As already is known that Sri Lankan Taxation Laws are very complicated, expert advice is required on each step.

We help clients to comply with statutory tax rules and regulations, as well as government tax legislation that impacts their industries. In addition, we help clients anticipate and respond to legislative and regulatory developments as they evolve.

• Computation of Final Income Tax liability( Company/ Individual) 
• Computation of VAT/NBT/ WHT
• Tax return filing through RAMIS System.
• Handling SVAT Process
• Tax planning and offering solutions for Inland Revenue inquires.
• Calculation of self-assessment Income tax 
• Assistance during assessments
• Advising on documentation that is required to be maintained
• Counseling and appearing before tax authorities 

The core purpose of inventory verification is to support the value of inventory as shown in financial statement along with verifying the accuracy of stock records, disclosing the possibility of fraud, theft or loss, or deterioration thereby revealing the weakness of the system, if any. 

It could be done at periodic intervals or at the end of specified period (periodic verification), throughout any period (perpetual verification), and any point of time as the management deems fit (surprise verification). 

We deal with your fixed assets as usual and simply give us the inputs that will be reflected in the databases immediately.

SUN’s fixed asset management service include but not limited to:

• Physical Verification of fixed assets
• Capitalization & Valuation
• Maintaining database and updating these with reports 

Employees are the most valuable and crucial asset for any organization. It is the hard work of the employees that shapes a business entity and thus it is the responsibility of the organization to keep track of all the employee related activities

We offer customized payroll services, which have the potential to save your business 30% of costs as compared to an in-house payroll professional. If your payroll accounting is consuming a significant amount of time and energy, let us take care of it so that you can spend your time on core business activities. 

As a professional payroll service provider, you can run your business knowing that a trusted adviser is handling the payroll processing

• Calculation and Feeding of salaries on a timely basis
• Processing Salary Increments, Bonuses or Incentives Distributed among employees.
• Dispatching pay slips to every employee and maintaining monthly records in Excel and PDF formats.
• EPF and ETF Returns, PAYE Computations and Returns.
• Advising on labour laws and updating you about applicable laws.
• Enrolling in the software
• Maintaining Personal files 

The company secretary is responsible for the efficient administration of a company, particularly with regard to ensuring compliance with statutory and regulatory requirements and for ensuring that decisions of the board of directors are implemented.

The company secretary ensures that an organization complies with relevant legislation and regulation, and keeps board members informed of their legal responsibilities. Company Secretaries are the company’s named representative on legal documents, and it is their responsibility to ensure that the company and its directors operate within the law. 

• New business formation & consultation
• Maintenance of statutory registers and minute books according to Companies Act.
• Preparation of Annual returns
• Share Certificates, Share Ledger Maintenance
• Company dissolution and liquidation 
• Attending all statutory matters with the Registrar of Companies
• Attending to share issue/share transfers

Business forecasting is an act of predicting the future economic conditions on the basis of past and present information. It refers to the technique of taking a prospective view of things likely to shape the turn of things in foreseeable future. As future is always uncertain, there is a need of organized system of forecasting in a business.

We prepare Business evaluation reports for application of Bank Facilities.