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Our technical accounting knowledge and advice, support tools, guidance and the round-the-clock availability of resources help to improve the quality of your company’s financial records and reporting – our core business.

Accounting solutions provides flexible, cost effective and specialised services to suit your business specific needs, enabling business managers to devote more time and effort to core business matters. We contribute to the success of your business by easing accounting-related burdens and freeing up resources, which can then be focused on other important business activities. We provide a high-quality service, delivered with integrity and based on a close, working relationship. Our professionally qualified accountants have a thorough knowledge of applicable accounting standards and local regulators’ requirements and enjoy helping clients achieve their goals and objectives.

Our services include:

Our experienced, professionally-qualified accountants help clients to maintain their accounting records in accordance with international standards. We tailor services according to your industry, business requirements and mode of operations.

Our comprehensive accounting services include:

  • Recording data and maintaining general ledgers and sub-ledgers
  • Preparing monthly financial statements and analysing financial results
  • Preparing annual statutory financial statements
  • Preparing and consolidating financial statements as per international accounting standards
  • Preparing the information required for statutory audits and liaising with your auditors
  • Reconciling financial statements prepared using different accounting policies

Our accountants receive regular training to remain current with leading practices and the latest regulatory and accounting standards.

Our accountants work on accounting assignments or special projects on a secondment basis, working under the client’s supervision. Clients also benefit from quality reviews by senior professionals at Keypoint.

Our services are tailored to comply with clients’ compensation policies, employees’ entitlements, employers’ obligations and local social insurance provisions, labour law, and other regulatory requirements.

Our payroll services include:

  • Maintaining employees’ personal records
  • Maintaining payroll databases
  • Registering and updating employee information with the Social Insurance Organisation (SIO)
  • Maintaining separate bank accounts for the payment of salaries and bonuses
  • Processing monthly payrolls
  • Issuing bank instructions to transfer salaries to employees’ accounts
  • Calculating leave pay, leaving indemnities and other benefits for accrual purposes
  • Calculating termination settlements and arranging payment
  • Arranging the payments of bonuses, incentives and other benefits
  • Attending to ad hoc employee requests, such as salary certificates and leave information
  • Preparing accounting entries for all payroll-related transactions
  • Reconciling payroll accounts

Keeping track of a business’ fixed assets is a critical task but it demands substantial time and effort that could otherwise be deployed to grow the business. Forward-thinking managers, therefore, often outsource this time-consuming, but vital, task to third party experts in order to free up resources for key business issues. Outsourcing can be an efficient, cost-effective solution.

Keypoint offers specialised services to physically verify fixed assets, set up new fixed asset registers or update existing registers – as a one-off exercise at any point in time or at periodic intervals, such as once a year, either covering all the items at once or covering a group of assets at a time so that all items are eventually covered.

We have developed fixed asset registers across a broad range of industry sectors. Our reliable and cost-effective service is designed not to disrupt business operations, management or staff.

Implementing reconciliation controls has cost and resource constraints. Our team, working across industries, offering a fresh perspective and thinking outside the box, can help you ensure problems are solved efficiently and on a timely basis.

Administering employee benefit programmes, such as stock options, involves maintaining and managing a broad spectrum of employees’ personal information confidentially. It requires a thorough understanding of the terms and conditions of the programme, determining the right benefits, maintaining accurate records, timely reporting and a personalised service. We have expertise, tools and experience in administering employee benefit programmes.

Our typical administrative services include:

  • Drafting terms and conditions
  • Communicating with participants, such as invitation and acceptance letters
  • Collecting and maintaining a database of participants and their beneficiaries
  • Recording benefit entitlements
  • Regularly updating participants regarding accumulated benefits
  • Determining settlements when participation ends
  • Responding to participants’ queries
  • Maintaining accounting records

Financial budgets are key tools that measure goals and objectives in monetary terms. Continuously monitoring actual performance against budget and taking timely action is a proactive way to achieve success. Preparing financial budgets depends on many variables, both internal and external. Financial budgets should be accurate and realistic if they are going to be a meaningful measuring tool. Our skilled consultants, with a deep local market understanding, work with key decision makers to develop financial budgets.

Preparing policies and procedures manuals requires a combination of accounting, business and industry knowledge, logical thinking, and writing skills. It is both expensive and inefficient for business to assemble their own resources with scarce skills and use them for this task. Keypoint’s team of professionals have the required skills, knowledge and experience to customise manuals – and can also help with implementation.

Our experience allows us to recommend accounting software programmes suitable for your business, providing key decision makers with a range of valuable data including analysis of sales, cash flows and costs. Intuitive and easy-to-use accounting tools enable staff to process transactions such as payments and cheques with minimal effort.

In the current business environment, internal controls help mitigate risks and ensure that processes and procedures are functioning efficiently, generating reliable financial information and complying with applicable laws and regulations. Keypoint’s team of professionals has the relevant experience to:

  • Study and identify a business’ risks
  • Evaluate controls based on a business’ policies and procedures
  • Test the effectiveness of internal controls for selected risk areas including: Accounting processes & corporate governance
  • Report on identified deficiencies and recommend improvements

We have worked across many of Bahrain’s leading economic sectors, including automotive, telecommunications, trade and retail, agriculture and consumer durables. Inventory management services include:

  • Inventory counts
  • Assistance in designing processes for valuing inventory
  • Designing inventory movement processes (from manufacturing to delivery)

As in-house accounting and book-keeping functions change – both in terms of personnel and in response to changing economic conditions and other external factors – it can be increasingly important and surprisingly difficult to capture good operational practice. Our AS function has worked with a number of clients – including leading banks and investment firms – to properly and accurately document operational workflows, a key enabler of improved working practices.

As acknowledged experts, our AS function has worked with a number of clients to upgrade and consolidate the skills and abilities of accounting and payroll staff. Working either on- or off-site, our AS team offers a range of development opportunities, including:

Payroll:

  • Awareness of current legislation – such as Bahrain’s labour law
  • Managing and maintaining a payroll process
  • Developing and producing reports
  • Supporting internal and external audits

Accounting:

  • Skills development on accounting software
  • MIS reporting – including schedules and sub-reports
  • Ensuring compliant processes are correctly embedded and are being followed
  • Assisting internal and external auditors
Pramod Malhotra
Senior Director
Jitendra M Gajria
Executive Manager