1. Bookkeeping & Financial Record Maintenance

· Record all financial transactions

· Accounts payable and receivable

· General ledger management

2. Financial Reporting

· Monthly and annual financial reports

· Budgeting and Forecasting

· Variance analysis

3. Cost Accounting

· Track project costs: For each interior design or furniture project, track costs related to materials, labor, overhead, and other expenses.

· Analyze profitability: Calculate the gross margins on various projects and identify areas for cost reduction or increased efficiency.

· Inventory management: Monitor raw material and furniture inventory, ensuring that stock levels are appropriate, and accounting for any waste or spoilage.

4. Tax Management

· Sales tax and VAT: Ensure the firm complies with local sales tax, VAT, and other tax regulations, collecting and remitting taxes as required.

· Income tax: Prepare and file corporate income tax returns and manage any other tax obligations.

· Tax planning: Work with external tax advisors to ensure that the firm minimizes tax liabilities and takes advantage of available deductions.

5. Payroll Management

· Salary and wage processing: Ensure that employees are paid accurately and on time, including tax withholdings and deductions.

· Employee benefits: Track and manage employee benefits (e.g., health insurance, retirement plans), ensuring compliance with company policies and government regulations.

· Overtime and bonuses: Accurately calculate any overtime, commission, or bonuses based on company policies.

6. Cash Flow Management

· Monitor cash flow: Keep track of incoming and outgoing cash to ensure the firm maintains sufficient liquidity for operations.

· Bank reconciliations: Regularly reconcile company bank statements to ensure that all transactions are accounted for and there are no discrepancies.