Accounting & Tax Services

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 requests – accounting standards for year-end 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 including payments
• Provide monthly payment forecasts for the employees and suppliers
• Typical payment practice:
  • After the authorization is confirmed from client’s controlling department, we will execute the payment with registered wire transfer instructions with Japanese banks.
  • The payment process is secured with a minimum 2 step process and double checked.  At least two different people ensure proper payment execution.
  • Periodical electronic bank statements, covering weekly or monthly payments to frequent vendors or statistics data are sent to clients

Japan Bank balance certificates

We support foreign capital companies to ensure they receive bank balance certificates from Japanese banks at 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.

• Establish entity or branch
• Set up bank account
• Executive Search
• Supply chain for distribution channel
• Develop business plan with SWOT analysis
• Tax consulting
• Social insurance program
• Various statutory report

Finance Management consulting

• Business development, Reorganization and Restructuring plan and execution
• Mergers and Acquisitions (M&A), Business Alliances
• Due Diligence service (Valuation, Pricing, Investigation)
• Performance and Process Improvement & Productivity

Meet our Finance Leadership Team