Accounting for subsidiary companies requires consideration from a group accounting perspective as well as planning for local statutory reporting requirements.
For EMEA entities outside the UK, V-Sub International PEO & Accounting can perform a ‘local’ group function and consolidate those entities to make the final consolidation simple.
For UK entities V-Sub International PEO & Accounting can perform a complete accounting service from AP to billing/credit control and from payroll to a monthly pack. Typically such day to day accounting work traditionally undertaken by an internal finance department has all accounting entries entered under US GAAP, where required we will convert transactions under local rules for Statutory Reporting.
Ordinarily for our clients we supply at the end of the month a full monthly/quarterly pack with a TB, Balance Sheet, Income Statement with complete Balance Sheet reconciliations. Commonly these are provided in dual currency formats for US$ and GBP.