STEP 3 OF ACCOUNTING PROCESSES IN HK: SEND IN YOUR OUTSTANDING INFORMATION

Marketing ACCOUNTING & AUDITING

Step 3: Send in Your Outstanding Information

As is often the case, while completing the vouchers some information is missing. This could mean the accountant cannot figure out how an invoice is paid, credit card statements are missing, some receipts are illegible, or even the receipts are in another language. When this happens, the accountant will re-check and reach out to you regarding the missing information. The vouchers cannot be complete until you reply with the missing information.

Once all your outstanding information is returned, the vouchers are completed. Afterward, the accountant must input the information into a column account. The column account summarizes the transactions for the period succinctly into one table. The column account also shows the totals for income, each type of expense, assets, and liabilities for the period.

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