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Bookkeeping & accounting compliance services in China.

Let us help you focus on running your business by taking away the hassles of maintaining your records & accounting compliance. Our accounting experts will keep your books, financial reports and compliance needs up to date and healthy to give you peace of mind.

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Professional accounting services in China

Smart accounting services that scale with your needs.

Flexible options

We work with you to build your monthly accounting package according to your needs and the value we aim to bring to your business. Regular consultations with us ensure our services continue to match your evolving requirements with our scope of work.

Timely reminders

Our professional accounting team will keep on top of all your important deadlines and reporting requirements and give you a heads up well in advance to avoid issues.

Integrated compliance

Our complete suite of corporate services can relieve you from the hassles of having to deal with multiple parties to ensure corporate compliance in different areas, such as business, tax and more.

Essential outsourced accounting services

Bookkeeping & statutory compliance.

  • Accounting setup

    • Design chart of accounts and establish procedures for accounts processing
    • Establish financial reporting package
    • Establish accounts and ledgers in financial software, such as general ledger and sub ledger
    • Train client’s local coordinating officer on daily cash functions (e.g. collection and consolidation of receipts in agreed format, daily recording of expenses, and other cash related items)

    One-off

  • Bookkeeping & transaction processing

    • Bookkeeping completed on-site or off-site
    • We will set up your books and create all of the ledgers required for your business in accordance with China GAAP and China tax regulations
    • We then assist in maintaining monthly bookkeeping for your company using provided payment vouchers, approved claim forms, bank statements, bank-in slips, bank credit advice, bank debit advice and other accounting sources coming from your management

    Monthly

  • Financial reporting / Management accounts

    • We prepare and submit the monthly accounts (Trial Balance, Income Statement, Balance Sheet and Bank Reconciliation) to your local office, and the head office where required, for approval
    • We also prepare bank signatories, if needed

    Monthly

  • Year-end financial statement*

    All companies are legally required to prepare their year-end financial statements. We will prepare the annual financial report based on the monthly/quarterly accounts that we have prepared, or we can use your financial records to produce the annual accounts for you. We coordinate with the auditor to ensure smooth submission if we are doing your monthly bookkeeping, and we offer an auditing service if we are not.

    Annually

  • Tax declaration

    All companies need to do monthly or quarterly tax declarations, depending on their tax status. Our team of financial experts assists you in printing and processing all fapiao and declaring relevant taxes. This includes:

    • Declaring monthly or quarterly VAT according to local PRC GAAP regulations
    • Declare business income of your organisation on a quarterly basis
    • Issue fapiao and purchase additional fapiao at the tax bureau if needed
    • Produce a compliant annual tax report

    Monthly, annually

  • Custom ERP solution

    Acclime helps you streamline your business through creating custom built ERP solutions utilising Microsoft Dynamics Navision. You can increase inter-office and cross-border collaboration in the following functions:

    • Accounting
    • Trade & inventory
    • Treasury
    • Manufacturing

    Learn more

    Ad hoc

*Government requirement

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Additional accounting services.

Vendor payment support

You can outsource your finance department to us to manage your funds. This service includes receiving and reviewing incoming invoices from vendors, obtaining payment approval from client’s management and payment processing based on an agreed payment schedule.

Commercial (trade) services

We assist international, cross-border businesses with invoicing and back-office administration functions to relieve needing to keep personnel in China.

Financial planning and analysis

We can aid your business in budgeting, forecasting, internal controls, oversight and much more.

Management reporting

We can prepare your organisation’s management accounts and/or group consolidated accounts using cloud-based accounting software, which covers the following:

  • Design and implementation of an accounting system and reporting structure for newly incorporated companies
  • Prepare periodic management reports and group reporting packages
  • Prepare financial statements for statutory or management reporting purposes
  • Customise formats for HO needs (e.g. IFRS standard)
  • Create detailed management reports outside of the statutory reporting suite such as AR & AP details, P&L projection, cash-flow projection etc.

Managing your fapiao

The Chinese system is based on fapiao. Fapiao are official tax receipts of transactions that are recorded in government systems and ensure all VAT is visible. We can support you with printing the right fapiao and checking provided fapiao for compliant local bookkeeping.

Health check

If you are moving your accounting services to Acclime, or if you need some reassurances, we can perform a check of all the record keeping and submissions of your current accounting system at any time.

Document storage

Our standard service includes storage of the current year’s original vouchers, and can be extended to keep previous years.

Custody of licenses and chops

For safeguarding reasons, your local Acclime team can keep your chops and licenses stored in our office, and allow use based on approval matrixes.
Acclime benefits

Why outsource your accounting to Acclime.

At Acclime, we have the team and expertise to set up and manage your accounting reliably, whether you are a local limited company or a multi-regional business expanding to China.

On-time and error-free

Our specialised and professional team of certified accountants manages your accounts. We pride ourselves on eliminating costly mistakes and providing timely delivery.

Experienced accountants

We have a great understanding of the local laws and regulations which will assist you through the process of setting up the appropriate accounting structure and business systems.

Regional specialists

Our presence in Asia can help your business expand beyond China to other important markets in the region. View all our regional locations.
Not happy with your current provider?

Move your accounting
to Acclime.

Changing your accounting service provider from one firm to another doesn’t need to be a stressful experience. We will handle the entire process for you. We will collaborate with your current accountant to hand over all the information we need to register with the authorities in order to act on your behalf. This will allow you to focus on running your business.
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FAQ

Common questions.

What accounting standards do foreign companies need to follow in China?

Foreign-invested enterprises (FIEs) operating in China are required to maintain books and prepare financial statements in accordance with the Chinese Accounting Standards for Business Enterprises (ASBE). ASBE has been substantially converged with IFRS since the 2006 reforms, but key differences remain: records must be kept in CNY, the calendar year (1 January to 31 December) is mandatory and the historical cost convention applies, with asset revaluations prohibited unless specifically permitted by state provisions.

Companies with a parent applying US GAAP (Generally Accepted Accounting Principles) or IFRS must maintain a parallel set of books. For a detailed comparison of Chinese and international standards, see the guide to Chinese accounting standards and compliance requirements.

What is a ‘fapiao’ and why does it matter for accounting compliance in China?

A fapiao is China’s official tax invoice, issued through the government-controlled system administered by the State Taxation Administration. It is required for every taxable sale of goods or services and is generated via the STA’s electronic platform, with details recorded in real time in government databases. For buyers, only a valid fapiao supports input VAT deductions and corporate income tax expense claims. For sellers, failing to issue fapiao correctly or on time is a compliance breach that can lead to penalties and scrutiny.

Companies must obtain approval from the tax authority to issue fapiao and comply with monthly quotas and verification rules. Poor fapiao management, particularly by foreign-invested enterprises, can result in disallowed expenses and rejected VAT credits during audits.

What bank accounts does a foreign-invested company need to open in China?

Foreign-invested enterprises are required to maintain at least two bank accounts in China: a foreign currency capital contribution account, used to receive registered capital injections from the overseas investor and a CNY basic account used for day-to-day operational payments including payroll and supplier settlements.

Additional accounts such as a general deposit account or foreign currency settlement account may be opened subject to bank approval and SAFE registration requirements. All foreign exchange transactions are regulated by the State Administration for Foreign Exchange (SAFE), which classifies transactions into capital account items and current account items. Currency conversion and cross-border remittances require supporting documentation demonstrating the legitimate commercial purpose of each transaction. For a full overview of banking and treasury management in China, see our banking and treasury services.

Companies must obtain approval from the tax authority to issue fapiao and comply with monthly quotas and verification rules. Poor fapiao management, particularly by foreign-invested enterprises, can result in disallowed expenses and rejected VAT credits during audits.

What financial statements does a foreign company in China need to prepare?

Foreign-invested enterprises (FIEs) in China are required to prepare a complete set of annual financial statements in accordance with the Chinese Accounting Standards for Business Enterprises (ASBE). The mandatory statements are:

  • Balance sheet
  • Income statement
  • Cash flow statement
  • Statement of changes in equity
  • Notes to the financial statements

All statements must be prepared in CNY and cover the mandatory calendar year. Companies typically prepare monthly management accounts to support internal reporting and group oversight. The annual financial statements form the basis for the statutory audit required of all FIEs incorporated in China.

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