Finance and Accounting Service Healthcare Japan BIC GROUP

We offer outsourcing accounting services in Accounting, Payroll, Payment Tax and Advisory consulting services. All services are tailored to meet individual client needs.

Accounting Bookkeeping

Monthly Accounting and Bookkeeping services

Preparation of journal entries and posting
Review and adjusting entries for Revenue / Accounts Receivable
Review and adjustment for Accounts Payable
Preparation of the fixed asset sub ledger
Accrued Expenses and Tax Provisions
Maintenance of the computer based accounting system master data and transaction data
Preparation of Yen general ledger and trial balance

Monthly Reporting Services

Yen financial statements according to Japanese GAAP
Japanese GAAP statements with conversion to IFRS or US GAAP
Reporting package based on the client’s format, custom, IFRS or – US GAAP
Upload reporting package in integrated corporate systems such as – SAP and Hyperion

Yearly accounting Closure

Accounting according to Japanese GAAP and clients requested – accounting standards for yearend closing
Preparation of Balance Sheet and Income Statement
Preparation and calculation of data for Japanese tax returns.
Tax returns filing related information and support service.

Payroll Services

Initial Payroll Services

Registration of company with Japanese Labor and Social Insurance Systems
Enrollment of employees with Japanese Labor and Social Insurance Systems
Set up of master payroll data files
Set up of a dedicated bank account for payroll related payments

Monthly Services: Payroll Calculation

Calculation of gross salary, salary deductions and net salary
Preparation of the following reports
- Payroll summary for company management approval
- Payroll statement for the employee
- Pay-in slip of national withholding tax

Monthly Services: Payroll Payment

Payment of salaries
Payment of relevant payroll taxes and withheld taxes on employees’ salaries
Payment process follows Payment (cash management services)

Yearly Payroll Services

Bonus calculation support
Year-end withholding income tax adjustment procedure
Preparation and filing of the Annual Withholding Tax Report for – NTA and local tax office.
Preparation and filing of the labor insurance premium annual report

Tax Service

Registration of new company with relevant Japan tax authorities
Japanese tax return
- Corporate tax return
- Business tax and Inhabitant tax return
- Consumption tax return
- Fixed Assets tax return
Withholding tax annual summary report
Transfer price taxation related service
- Profitability analysis for transfer pricing
- APA report
Tax audit related service
Consultation of expatriate staff taxation

Payment (Cash Management Services)

We offer cash management services to help foreign companies to open a bank account in Japan and manage a Japanese bank account to make payments for Japan taxes, employees’ salaries and suppliers.

Secured process for all banking transactions included payments
Provide each month a payment forecast for the employees and suppliers
Typical payment practice:
- After the authorization is confirmed from client’s controlling department, we will execute the payment with registering wire transfer instructions with Japanese banks.
- The payment process is secure with at least a 2 steps process and double check. At least two different persons involve the payment execution.
- Periodical electronic bank statement covering weekly or monthly payment to frequent vendor or statistics data is sent to clients

Japan Bank balance certificates

We support for foreign capital companies to get bank balance certificates from Japanese banks at the year-end closing for audit purpose.

Japan Market Entry Consulting

BIC provides various preparatory services to set up clients business in Japan. We also provide strategic consulting service to develop the business plan for the first 3 years planning.