OUR SERVICES

Outsourcing Accounting Department Activities

 

Quality bookkeeping is very important and necessary to any business. At WSA, we make this our mission to ensure that as an outsourcing partner, the financial transactions and records of the company are kept accurate and up-to-date with maintaining their confidentiality.


With our bookkeeping capabilities, we can help reduce costs of routine clerical or accounting processes, so that you have sufficient and resources to focus on developing and growing the business in better way.


How WSA can help


WSA Partners not only advises on how best to comply with regulations, we also help you appreciate the consequences of non-compliance and deliver good result by outsourcing.  


The result is a consistent and centrally coordinated service that reduces the risks of non-compliance, increases the economy of scale and eradicates the burdens of staffing your own finance back office.

 

WSA is committed to delivering quality Finance and Accounting services with utmost precision and punctuality. With every engagement we undertake:

 

  • Our start point is a complete understanding of your business and an analysis of your existing accounting workflows and processes.

  • The second step is designing an outsourcing solution that answers your needs and achieves your objectives.

  • The third step is ensuring a smooth transition phase.

  • The last and ongoing step is running a steady state operation that takes your Finance & Accounting function a step forward and aims for continuous performance improvement.


WSA delivers full range of finance and accounting support services across the entire finance value chain. Our key Finance & Accounting services are as follows:

 

  • Setting up the accounting system QuickBooks, Tally, SAP and Xero etc.

  • Creation of charts of accounts in line with clients reporting requirement

  • Preparation of annual and periodic financial statements in accordance with IFRS

  • Designing and establishing a reporting mechanism for management purposes

  • Preparations of fixed assets register

  • Accounts receivable and payable management

  • Analyzing and processing the expenses incurred by the firm/employee on a monthly/quarterly/yearly basis and preparing a cumulative report.

  • Audit assistance to support accounting team to meet auditor's expectations.

Income Tax and Related Services

 

In this era business and tax environment is increasingly complex, there are more and more demands for transparency, tax departments are under pressure to be more effective and highly qualified professionals can be hard to obtain.

 

Our Qualified Professional Team provides taxation services to very wide range of corporate, private, Partnerships and sole proprietor clients.

 

We WSA provides following Tax services:

 

  • Tax risk: identifying and prioritizing key risks and assisting with controls monitoring and remediation.

  • Tax (NTN), SRB and GST registration of corporations, private limited, partnership, traders, contractors, builders and individuals.

  • Preparation and filing of tax returns pertaining to income tax of corporate clients.

  • Preparation and filing of tax returns pertaining to income tax of individuals, association of persons, trusts registered firms and (NGOs) not for profit organizations.

  • Preparation and filing of wealth statements of individuals along with reconciliation and tax planning.

  • Attending hearings and assisting clients in preparation of information and explanation for submission to the (RTO’s) tax authorities and dealing with matters leading up to finalization of assessment.

  • Filing and dealing with appeals before the appropriate tax authorities.

  • Providing advisory Services to clients on tax planning and on specific tax problems and issues.

  • Conducting tax audits to ensure the compliance of provisions of tax laws.

  • Appointed by (FBR) Federal board of Revenue to conduct tax audits.

  • Obtaining tax exemption certificates if applicable.

  • Obtaining tax refunds.

  • Monthly and annual WHT return filing.

  • Income tax, SRB & GST monthly, half yearly and yearly returns filing.

  • Filing of withholding tax statements.

  • PSID generation through FBR portal due to tax submitted sales tax and income tax liability.

 

Internal Audit Assurance Services

 

WSA perform independent verification of financial and non-financial data. System audits (as per standards and regulations), Audit of non-financial information, Special purpose audits, Management audits, Cost audits, Tax audits, Forensic audits, Regulatory audits etc.

 

We also assist in other various special audits upon request by stakeholders or directors In short, we cover all the possibilities.

 

Information System (IS) Assurance

 

Acquiring and managing the critical information necessary to make timely decisions that organizations using best practices information technology. WSA's Information Systems (IS). Assurance practice works closely with clients to identify the best updated technology within their range for their needs and to help maximize its usage to achieve desired results. Members of our IS Assurance team are certified by leading internationally recognized organizations dedicated to the education, research and professional standards in audit and Security.

 

Regulatory & Compliance Audit

 

Regulatory compliance is becoming increasingly complex day by day; and the power and reach of regulators continues to expand. Our team has the expertise to guide you through the challenges this evolving operating environment creates. Whether you need independent verification of information reported to regulators or your organization is voluntarily seeking independent verification to avoid factual errors (and the risk of non-compliance) - we can help.

 

WSA Audit team can support you to ensure:

 

  • Strong corporate governance.

  • Regulatory risk is effectively managed.

  • Regulatory compliance with financial and non-financial reporting requirements

  • Compliance that’s consistent with the entity’s commercial objectives.

 

Our team is consisting of professional and technical expert through which we express our views and perspectives through these experts and direct engagement with the regulators. This enables us to proactively help you stay on top of today’s ever-evolving compliance.

Payroll Services

 

Payroll processing is a time-consuming as well as very critical activity in any organization. By taking away this task your staff will free to concentrate more on productive work and creative work. It is better if organization also want to maintain confidentiality of salaries and deduction from staff.

 

WSA tailors payroll services to meet your needs and to make sure you comply with all local regulations and to minimize the burden on your staff. Process we do in carrying out the payroll services:

 

  • Obtain national tax number (NTN) for employees who do not hold it.

  • Prepare tax computations of employees and send to management for their

  • Approvals

  • Obtain monthly payroll information in a prescribed form from management regarding “List of Employees”

  • New Induction during the period

  • Exit during the period

  • Attendance

  • Deductions

  • Changes in salaries

  • Other relevant information

  • Prepare monthly payroll for the staff on the basis of information provided by the management giving details of salaries and deductions.

  • Send payroll for management approval and for transfer of amount for salary payment and withholding tax payments.

  • After approval of payroll by the management, transfer salaries to individual Account of the employees after deducting tax and other authorized deductions.

  • Prepare monthly payroll pay slips and send to employees.

  • Deposit monthly payroll withholding taxes into the Government Treasury.

  • Maintain records of monthly deduction and remittance of withholding tax.

  • Send copy of a monthly payroll for the Company’s records.

HR Services

 

We (WSA) can help you find the right HR solution for your business.

Our professional team helps to find the best solution and cost-effective approach to your HR needs. We have a wealth of experience in the HR industry and can help you with a wide range of services, including:

 

  • Recruitment and selection
  • Onboarding
  • Performance management
  • Compensation and benefits
  • Employee relations
  • Compliance

 

Our services are tailored to fit the specific needs of every business. Our goal is to help you succeed in your business by providing you with the best service possible.