Caribbean CPA is a full-service U.S. public accounting firm; specifically designed to serve the accounting needs of American Expats living in the Dominican Republic. In order to serve our clients better, we have divided our practice around the accounting requirements of a typical U.S. Expat residing in the D.R. Accounting Services are designed to take care of your accounting necessities while making sure you have enough time to run your business and explore all economic opportunities this Caribbean paradise has to offer. Our Accounting Services are divided in the following three main areas:
“A beginning is always a delicate process; make sure you got the right systems in place, right from the start”
An Accounting System is the process of gathering, classifying, recording and safeguarding financial data. Designing an Accounting System is very a delicate process. Many of the reasons responsible for the success or failure of a businesses can be traced to decisions taken during the design of the Accounting System. Mistakes made at this stage tend to be discovered only after causing great losses to the owners.
Our services are design for creating and implementing an Accounting System that can properly support your business operations. Systems Services include the following:
1. Accounting Software Selection.
2. Company File Setup.
3. Banking Module Setup.
4. Customer Module Setup.
5. Vendor Module Setup.
6. Trial Balance Setup.
7. Personnel Training.
8. Internal Controls Design.
9. Revenue Cycle Design.
10. Expenditure Cycle Design.
“If you don’t know who owes you money and who you owe money to, you have no business.”
Bookkeeping is the process of recording financial data within an Accounting System. It is a delicate and time-consuming process that needs be done as efficiently and accurately as possible.
Efficiently, because the more time you spend on your bookkeeping, the less time you’ll have to spend taking care of your clients. Accurately, because the more errors committed during bookkeeping, the greater the potential for IRS fines and penalties, as a consequence of preparing tax returns based on incorrect accounting data.
Our services are design to generate your financial information efficiently and accurately, while allowing you to focus on your business. Bookkeeping Services include the following:
1. Customer Invoicing and Collections.
2. Vendor Billing and Payments.
3. Bank, Credit Card and Merchant Account Reconciliations.
4. Capital Gains Report Preparation.
5. Profit & Loss Report Preparation.
6. Fix Assets Management.
“A person without a budget is like a ship without a compass.”
A Budget is one of the most important financial tools available to anyone, especially an expat. Far more than a list of expected cash inflows and outflows, a budget is a business process serving two purposes:
1. Making sure you don’t run out of money and
2. Measuring your economic performance.
Unfortunately, budgeting is often an overlooked business function. Failed business owners usually don’t see a Budget until falling in Bankruptcy Court. Our services are designed to make sure you start your business with proper capitalization and keep you on financial track after opening.