Welcome to oyston.lk

We at Professional Services always fully focused on helping you to overcome any hurdle.

 

We provide a one stop shop service Island Wide for your all business needs and take the responsibility to provide you with a complete solution.

Invest in Sri Lanka

Free Business Advisory

Free business Advisory services are provided in order to encourage Investment in Sri Lanka

BOI Approvals

We can represent Board of Investment of Sri Lanka as authorized representative

Project Report

A project report is prepared in compliance with the BOI requirements

Other Approvals

Approvals from other government organizations have to be obtained as per the nature of the Business

Company Incorporation

We charge lowest price in Sri Lanka in order to encourage investments

Tax Consultancy

We provide tax advice at all stages of the business life cycle

Free Consultation   l   Save Money   l    Reduce Tax

Initial Consultations are free of charge

Outsource to Sri Lanka


 

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Accounting & Bookkeeping

We will discuss your requirements in order to decide the format  …

ACCOUNTING AND BOOKKEEPING

We will discuss your requirements in order to decide the format that you require, we take your bookkeeping items from you regularly in the most convenient way for you, and we provide reports as agreed within 7 working days from the last piece of information received.

Scope of work

  • Basic bookkeeping work
  • Processing of sales, purchase, bank transactions and all the expenses
  • Sales ledger control account
  • Reconciliation of business bank and business credit card accounts
  • Purchase ledger control account
  • Expense analysis

You’ll need to provide

  • Sales/purchase invoices and other expenses invoice and details
  • Bank/credit card statements

Reports

  • Monthly/quarterly/Annual trial balance
  • Monthly/quarterly/Annual Financial Statements
  • Monthly Bank Account Reconciliation
  • Credit Card Reconciliation
  • Annual ledger
  • Aged debtors report and creditors report

The most important benefits of outsourcing your accounting functions are as follows:

Increased Profitability

Outsourcing allows you to concentrate limited resources on your core business so you can be more profitable.  You will be able to spend more time with your customers so your organization can offer them a higher level of service.  Focus on your strengths.

Reduced Costs

Requiring less staff time for internal accounting functions will allow you to save employment costs such as salaries, payroll taxes, benefits, training and recruitment expenses.  Hire employees that will focus on your main business purpose rather than auxiliary services.

By picking and choosing only the types of services you really need from your outsourcing partner, you will be able to eliminate unneeded overhead expenses in those areas.  Businesses need to concentrate on the return of every dollar they spend and be ready to deploy resources where they can maximize their leverage quickly.

Better Business Decisions Faster

The ability to provide higher quality accounting information faster, more efficiently and with greater effectiveness is crucial.  Working with us will yield more reliable information to make improved business decisions in less time.

You will not need to spend time and money trying to keep up with an avalanche of new laws, policies, procedures and technologies.  Missing critical business signals because you are not able to access the financial information in the form you need it, when you need it, will put you at a distinct disadvantage in today’s hyper competitive environment.

Minimize Risk

Reporting errors can be very costly.  The penalties and interest charges for payroll and income tax mistakes are staggering.  Litigation expenses and judgments levied against an entity can literally put it out of business overnight.  Placing the responsibility for these types of expenses on trained professionals will greatly limit the risk of losses to your organization.

We provides professional services that keep your business focused on your critical objectives.  We create custom made financial and Human Resource systems based on creative strategies that are always delivered with exemplary customer service. Our professional is happy to discuss solutions for your unique requirements designed specifically to maximize all of your business opportunities.

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Payroll Services

We consider all statutory requirements of your country in order to …

PAYROLL SERVICES

We consider all statutory requirements of your country in order to design your payroll in compliance with relevant labor laws and regulations.

 Scope of work

  • Monthly/weekly payroll
  • Completion of statutory forms as per your country’s regulations
  • Process information, create pay slips and process timesheets
  • Inputting details as for all employees as well as changes that might occur over the year
  • Including setting up new employees and keeping up-to-date with the changes throughout the year

Reports

  • Employee pay slips in required format
  • Monthly Salary Schedules

You’ll need to

  • Necessary payroll data on a weekly/monthly basis
  • Timely data required to process the payroll
  • Details regarding changes in the existing set-up like new starters, leavers, change in address of employees etc.

 

The most important benefits of outsourcing your accounting functions are as follows:

Time Savings / Productivity

Payroll processing inside your business is a time-consuming process. Keeping track of benefit deductions, garnishments, new hires and terminations, paid time off as well as Government’s regulation changes can be frustrating tasks. Outsourcing payroll allows employers to concentrate on their core business and frees up the business owner, human resources or accounting personnel to work more on strategic tasks that could ultimately affect your bottom line.

Reduce cost

The direct costs of processing payroll can be greatly reduced by working with a payroll provider. Big businesses can afford to maintain robust payroll departments. However, Small/medium sized businesses, having an in-house payroll process is a money burner. If your business has fewer than 30 employees, there’s a very good chance that you can save money by outsourcing your payroll operations.

Avoid Government’s penalties / Mistakes

Penalties for errors, omissions or late payroll tax filings can be very costly. Small business owners aren’t experts in the challenging world of government tax regulations. Professional payroll providers, on the other hand, must stay current with rules, regulations and changes in tax rates. A good payroll-services provider is far less likely to make a serious error than your in-house staff.  Many outsourced payroll providers calculate payroll taxes, manage filings and payments and will assume the cost of penalties due to incorrect calculations or late payments so long as you provide the necessary information and funds on time.

Team of Experts

Most business owners and payroll related staff don’t have time to research and study constantly changing regulations, withholding rates, and government forms. By outsourcing payroll, a small business can take advantage of expertise that was previously available only to big companies.

Enhanced Security

Payroll processing is a complex and potentially risky business operation. Even with long time trusted employees, there is always a risk of identity theft, embezzlement of funds, or tampering with company files for personal gain

 

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Management Accounts

We can tailor management information to precisely fit your business…

MANAGEMENT ACCOUNTS

We can tailor management information to precisely fit your business requirements, and can provide comparison data, such as budgets, prior year figures and analytical review.

We will also present your nominated key performance indicators in a clear and concise format, so that you are able to make informed, effective business decisions.

We can supply a commentary to support the management information if you wish, or if you prefer, we are happy to discuss our findings with you face-to-face via IMO, Viber & Whatsapp. Our highly skilled business advisers will interpret the financials and their impact on your business, as well as providing you with general advice on all aspects of remuneration planning and taxes.

Scope of work

  • Sales and purchase ledger management
  • Preparing monthly/quarterly management accounts and reports
  • Multi-currency reporting
  • Profit and loss accounts
  • Cash flow forecasting
  • Budgetary forecasts

 Reports

  • Cash flow report
  • Budget report
  • Management accounts with MIS

You’ll need to provide:

  • Current year financial Statements
  • Previous years Financial Statement
  • Your monthly, quarterly, and annual targets
  • Any other information may be requested time to time

 

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Data Entry Services

We can prepare your data to serve you whenever and wherever you need it…

DATA ENTRY SERVICES

We can prepare your data to serve you whenever and wherever you need it. When you outsource data entry, you will receive economically priced online and offline data management solutions. We provide comprehensive array of services timely and cost effective access to specialized data entry help.

  • Invoice Data Entry
  • CRM Data Entry
  • Image Data Entry
  • E- Book Data Entry
  • Document Management
  • Directory Services
  • Document Data Entry
  • Real Estate Appraisal Data Entry
  • Data Extraction Services
  • Photo Search Services
  • ERP Data Entry
  • QuickBooks Data Entry
  • Survey Data Entrry
  • Data mining

In addition to the above, we undertake the followings.

  • Web Designing
  • Logo Designing
  • Visiting Card Designing

 

Are you Ready to invest in Sri Lanka?

We are ready to help you

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Audit & Assurance

When it comes to audit and compliance work, it is absolutely vital you have confidence in your auditor. Audit quality is …

Audit & Assurance

When it comes to audit and compliance work, it is absolutely vital you have confidence in your auditor. Audit quality is of fundamental importance for maintaining trust in the financial reporting process and the integrity of financial information. That is why our Audit & Assurance professionals work continually to ensure that audits are carried out to a high standard. The experience of audit teams, covering many industries and sectors, enables us to focus on key areas of risk, adequacy of internal controls and potential areas of fraud.

OUR SERVICES

-Financial Statements Audit

-Special Purpose Auditing

-Financial Statements Review

-Agreed Upon procedures

-Examination on prospective financial information

-Assurance of corporate social responsibility (CSR) reports

-An independent review of the key judgments on the engagement

-Financial Reporting Advisory.

Financial Statements Audit

We conduct our Audit engagements in accordance with Sri Lanka Auditing Standards (SLAuSs) and comply with the Code of Ethics issued by CA Sri Lanka (Code of Ethics) and fulfill our other ethical responsibilities in accordance with the Code of Ethics.

Before accepting the audit engagements, we consider whether there are any ethical factors which should lead us to decline the appointment and Independence requirements will be considered for every engagement.

If we identifies threats which are not insignificant, appropriate safeguards will be considered and implemented.

These might include:

–  The use of independent teams where appropriate.

–  An independent review of the key judgments on the engagement.

Where we concludes that no safeguards would reduce the threat to independence to an insignificant level, we declines to accept the engagement in order to compliance with the code of ethics.

Special Purpose Auditing

We conduct our Special Purpose Audit engagements in accordance with Sri Lanka Auditing Standards (SLAuSs) and comply with the Code of Ethics issued by CA Sri Lanka (Code of Ethics) and fulfill our other ethical responsibilities in accordance with the Code of Ethics.

We determine the accessibility of the financial reporting framework applied in the preparation of the financial statements. We also obtain an understanding of:

 -The purpose for which the financial statements are prepared

-The intended users

-The steps taken by management to determine that the applicable financial reporting framework is acceptable in the circumstances.

In planning and performing an audit of special purpose financial statements, we comply with all SLAuSs relevant to the said audit in the circumstances of the engagements.

Our special purpose audit engagements include:

 -An Auditor’s report on a complete set of financial statements prepared in accordance with the financial reporting provisions of a contract.

-An Auditor’s report on a complete set of financial statements prepared in accordance with the tax basis of accounting.

-An Auditor’s report on a complete set of financial statements prepared in accordance with the financial reporting provisions established by a regulator etc..

Agreed Upon procedures

We conduct an agreed-upon procedures engagement in accordance with this SLSRS and the terms of the engagement and comply with the Code of Ethics issued by CA Sri Lanka (Code of Ethics) and fulfill our other ethical responsibilities in accordance with the Code of Ethics.

We ensure with representatives of the entity and, ordinarily, other specified parties who will receive copies of the report of factual findings, that there is a clear understanding regarding the agreed procedures and the conditions of the engagement.

The procedures applied in an engagement to perform agreed-upon procedures may include the following:

 -Inquiry and analysis

-Re computation, comparison and other clerical accuracy checks

-Observation

-Inspection

-Obtaining confirmations

The report on an agreed-upon procedures engagement describe the purpose and the agreed upon procedures of the engagement in sufficient detail to enable the reader to understand the nature and the extent of the work performed.

 

Financial Reporting Advisory

We can advise you on the application of accounting standards and help to resolve more complex accounting problems.

With our financial reporting advisory services, you can access:

 -Impact assessment on adoption of new standards

-Accounting opinions on the application of SLFRS

 

Examination on prospective financial information

We conduct our examine prospective financial information in accordance with Sri Lanka standards on Assurance engagements (SLSAE) and comply with the Code of Ethics issued by CA Sri Lanka (Code of Ethics) and fulfill our other ethical responsibilities in accordance with the Code of Ethics.

In an engagement to examine prospective financial information, we obtain sufficient appropriate evidence as to whether:

 -Management’s best-estimate assumptions on which the prospective financial information is based are not unreasonable and, in the case of hypothetical assumptions, such assumptions are consistent with the purpose of the information;

-The prospective financial information is properly prepared on the basis of the assumptions;

-The prospective financial information is properly presented and all material assumptions are adequately disclosed, including a clear indication as to whether they are best-estimate assumptions or hypothetical assumptions; and

-The prospective financial information is prepared on a consistent basis with historical financial statements, using appropriate accounting principles.

Tax and Advisory Services

Whatever your business’ legal structure -be it sole proprietor, partnership, limited liability company or PLC – we offer …

Tax and Advisory Services

Whatever your business’ legal structure – be it sole trader, partnership, limited company or plc – we offer proactive and innovative tax advice at all stages of the business life cycle.

As your business passes through the various stages of its life cycle, we recognize that this necessitates a change of focus and approach in order to be successful. We are experienced in guiding businesses through each and every stage, from seed to sale.

The goals of our team should go beyond simply meeting requirements and avoiding penalties. Conscientious tax preparation also has a human dimension because it requires a professional to understand a client’s larger financial picture, and help with money management to optimize tax advantages in the future and make the tax preparation process as stress-free as possible.

-Tax Planning

-Consultation on tax issues

-Handling Tax matters

-Handling Tax registration with the Department of Inland Revenue

-Representing clients for interviews called by department of Inland Revenue

-Preparation tax appeal and objection letters in compliance with the Tax laws

Business Advisory services

We work with you to help manage your business affairs, providing insightful advice to increase your profits, …. 

We work with you to help manage your business affairs, providing insightful advice to increase your profits, minimise your tax liabilities, plan for a secure financial future and achieve your business and personal goals.

Our clients seek out our advisory service for a number of reasons. First of all, we take our time to listen to you and get a full understanding of your needs. We have the right balance of technical expertise and practical experience to help find solutions that will help your business take off. Plus, we get a genuine buzz from the process and eventual achievements made as a result of our support.

We offer a full range of advisory services, and constantly challenge ourselves to lead and compete both with our technical know-how and the very latest industry thinking.

We can, through strategic planning sessions, help you identify those areas in your business that might be holding you back, discuss the options available to you, and help you decide on the best course of action.

We develop relationships that make it easy for you to share your aspirations and goals – both business as well as personal – and we do everything we can to help you achieve them.

 

Our Business advisory services:

 

-Business Start-up

-Business Management

-Business Improvement and Transformation

-Business Plans

-Profit Improvements

-Cost Control

-Investment appraisal

-Ensuring compliance with relevant laws

-Safeguarding assets through internal controls

-Inventory Management & Control

-Budgeting and budgetary control

-Payroll system

-Procumbent management

-Asset Management function

-Managing cash flows and liquidity issues

-Working Capital Management

-Preventing fraud etc….

Corporate Secretarial Services

People set up new companies for one reason. they see a commercial opportunity. That is why we believe that   … 

Corporate Secretarial Services

People set up new companies for one reason: they see a commercial opportunity. That is why we believe that company secretarial work should be handled by a team that understands your business, and is committed to helping your company fulfill its commercial potential.

Our company secretaries work closely with our accounting and consultancy teams, to ensure all your compliance obligations are up-to-date. This allows you to focus on your business, in the knowledge that your company’s administration is in safe hands.

As per the Companies Act No 7 of 2007 it is mandatory that all registered companies with a turnover exceeding Rs.1,000,000 should have a competent company secretary who possesses the required qualifications and experience to fulfill certification requirements.

We ready to assist you in complying with cumbersome legal and statutory obligations when doing business in Sri Lanka.

Our Services

Statutory Compliance

-Company formation

-Branch registration and compliance services

-Maintaining statutory registers

-Preparing resolutions & extracts

-Managing share transfer/ allotments/ buyback

-Managing bonus/ right issues

-Annual compliance services including preparing & filing annual returns

-Convening and handling board/ shareholders’ meetings

-Attending to formalities for the fulfillment of requirements laid down in the Companies Act

-Providing a registered office for companies for statutory registrations

-Facilitating company meetings

-Custody of the company seal

Business Process Outsourcing Services

Regardless of whether the company is just starting its activity or has been operating on the market for years, we provide …  

Business Process Outsourcing Services

Regardless of whether the company is just starting its activity or has been operating on the market for years, we provide accounting services tailored to its specific needs.

Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis. It should provide the information like cash sales, credit sales, debtor’s collection, creditor’s settlement, import cost, Export Income, total petty cash/cash expenses, total bank payments,  debtors and creditors balance etc. This information is very vital to manage your business day to day. Hence your documentary and information system should be designed to provide reasonable assurance that your financial reports are reliable, your operations are effective & efficient and your business activities comply with applicable laws and regulations.

-Bookkeeping in accordance with SLFRS/SLFRS for sme

-Posting verification

-Keeping VAT/Import/Export/Fixed assets registers

-Issuing invoices and preparation of vouchers

-Assistance during the implementation of accounting systems

-Preparation of Management Reports in accordance with Client’s requirements (including consolidated reports)

-Preparation of IT, VAT, NBT, PAYE,WHT returns and SVAT Forms

-Preparation of a chart of accounts and an accounting policy

-Preparation of individual or consolidated financial statements

-Preparation of a Management Report template

-Preparation of payroll and EPF/ETF forms

-Preparation of registration documents (TIN, All Taxes, EPF/ETF etc..)

Knowing exactly how your business is performing is crucial to its long-term success. Access to timely and accurate management information is therefore vital and the basis on which fully-informed decisions can be made. We assist clients with their management accounting requirements – providing forecasts, performing analyses, reviewing and monitoring costs and comparing budgets with actual spend – whether monthly or quarterly.

As reporting accountants, we are able to give our clients complete peace of mind by ensuring that their accounts comply with all relevant accounting standards.

Other Services

Project reports for Enterprise Loan and Other Loans, Project Report for BOI Approvals, Registration with Export ….

Other Services

-Project reports for Enterprise Loan

-Project Reports for other Loans

-Project Report for BOI Approvals

-Registration with Export Development Board

-Cost Statements for Export Purpose

-Tax Certificate for Visa purpose

-Web Development

-Logo Design

-Visiting Card Design

-Data Entry

-Data processing

-Web search & Data mining

4

Years Experience

4

Executive Members

15

Avg. Exe. Members’ Experience

4

Departments