What we do

We are committed to providing smart, accurate and timely accounting services to you


Bookkeeping is the foundation of the accounting process. This involves the recording of financial transactions in the company’s accounting software. At BACE our team is expertly trained in our systematic approach to bookkeeping. We gather & organize source documents, analyze transactions to determine their accounting treatment, and post in accounting software, these transactions are reviewed, and reconciled to the respective bank or credit card.

Payroll Management

Payroll Management is fundamental to an organization making timely and accurate salary payments to employees.  Our methodical system for payroll management involves tracking employee emoluments, benefits, adhoc pay, statutory and other deductions. Employers can rely on us to ensure all the necessary employee and employer taxes and contributions are deducted in accordance with the Income Tax Act of Jamaica; and payroll tax returns (S01 & S02) are prepared and filed on a timely basis. We provide our clients with all the relevant payroll reports for proper record keeping.

Financial Reporting

Financial reporting is the process of producing statements that communicate the financial activities and performance of the entity over specific time periods, typically on a monthly, quarterly or annual basis. Financial statements are prepared to varying degrees of specification based on the intended users: whether it is management, investors, lending institutions or government. BACE leverages the use of accounting software to provide accurate and timely reports to our clients in accordance with the appropriate financial reporting standards (Generally Accepting Accounting Standards, International Financial Reporting Standards for SMEs, or International Financial Reporting Standards)

Payables Management

Payables management is the handling of a company's unpaid debts to third-party vendors for purchases made on credit. Managing payables can be time consuming for small businesses, and therefore, BACE provides the perfect outsourcing solution. We design a system of tracking all the bills to be processed by the entity, we notify the client of the periodic funding required, and based on the decided approach we both/either systematically initiate recurring payments and/or make periodic recommendations of payments that need to be made. We provide a monthly report (at least) outlining the entity’s amounts payable, due dates, and cash position in order to assist with the process. We initiate payment transactions, provide suppliers with payment confirmations and communicate with suppliers related to any issues related to payments. 

General Consumption Tax (GCT) 

GCT is the local value-added tax (VAT) imposed on the supply of goods or services within Jamaica (above a minimum revenue threshold) and on the import of goods or services to Jamaica. 

Jamaica entities with revenue above the threshold J$10 million (or approximately US$67,000) in a 12 month period or average monthly sales of J$833,333 (or approximately US$5,600) for a period less than 12 months will be required to registered as a GCT tax payer. Entities registered for GCT are required to charge GCT to its customers at the appropriate rate. These entities are also required to file a GCT return for the month and make payment on the net GCT collected to the Tax Authorities by the last working day of the month following the month of supply. 

Due to the technical nature of GCT and the obligation to prepare the GCT return on a monthly basis, we recommend you let BACE take care of your monthly GCT compliance requirements.

Payroll Taxes

Employers can rely on us to ensure all the necessary employee and employer taxes and contributions are deducted in accordance with the Income Tax Act of Jamaica; and payroll tax returns (S01 & S02) are prepared and filed on a timely basis. 

Annual Tax Returns 

Complete tax computation for the relevant financial period and Prepare the respective tax return to be filed by March 15 of the year following the calendar year of operations which is being assessed.

A resident corporation is taxable on its worldwide income. Non-resident companies are subject to tax on Jamaican-sourced income. Tax is imposed on certain sources of income, such as interest, dividends, royalties, and fees, by way of withholding at a rate of 33⅓% for non-resident corporations. Lower rates of withholding are possible, provided that the recipient is resident in a country that has concluded a double taxation treaty (DTT) with Jamaica.

The current rates of corporate income tax (CIT) are as follows:

The current corporate income tax rate in Jamaica is 25%. This rate applies to the taxable income of all companies operating in Jamaica, including local and foreign companies. It is important to note that tax laws and regulations are subject to change and companies are advised to seek the guidance of a tax professional to ensure they are in compliance with current regulations.

Tax Portal Account Management 

Monitor the entity's online portal with the Tax Administration of Jamaica and address compliance matters as needed.

Tax Compliance Certificate (TCC)

Assist the Client to maintain a current Tax Compliance Certificate (TCC). Liaise with the various statutory bodies (NIS, NHT, and HEART Trust NTA) to collect clearance letters and submit the required documentation to obtain a tax compliance certificate. Collect the additional information required from the various statutory bodies and the tax administration of Jamaica (TAJ) in the event it is thisl the entity's initial engagement with these institutions.

Companies Office of Jamaica Compliance

Being compliant with the Companies Office of Jamaica (COJ) is crucial for businesses operating in Jamaica. Failure to comply with the COJ regulations can result in legal consequences, fines, and penalties. Staying compliant ensures that businesses follow the necessary legal requirements and maintain a good reputation, which can help attract customers and partners. Additionally, being compliant shows that a company is responsible and trustworthy, which can increase trust and credibility in the marketplace. Overall, compliance with the COJ is an essential aspect of running a successful business in Jamaica.

Department of Cooperatives and Friendly Societies Services

The Department of Cooperatives and Friendly Societies Services (DCFS) in Jamaica is responsible for promoting and regulating the development of cooperatives and friendly societies in the country. Compliance with the DCFS is critical in order to be a registered charitable organization in Jamaica, charitable status allows an entity to be eligible for tax exemption or relief from the following: G.C.T., Property Tax, Stamp Duty, Transfer Tax, and the Customs Acts. BACE is able to support charities in obtaining and maintaining their charitable status.

External Audit

An external audit is a comprehensive review of a company's financial records and operations. It is performed by an independent third-party auditor to ensure the accuracy of a company's financial statements. At BACE, our auditors have relevant industry experience and ensure that they have access to all relevant records and personnel when conducting their external audit.

Internal Audit

An internal audit is a systematic evaluation of a company's internal control systems and processes. It is performed by the company's own internal auditors to identify areas of risk and inefficiency. BACE would advise clients to establish clear internal audit objectives, ensure the internal audit team has the necessary skills and resources, and establish a clear plan for following up on audit findings.

Fraud Examination

Fraud examination is the process of identifying and investigating potential fraud within an organization. We help our clients: to establish a clear fraud examination plan, to have a system in place for reporting potential fraud, and to have a team with the necessary skills and experience to investigate and resolve fraud cases.

Income Verification

Income verification is the process of confirming the accuracy of an individual's reported income. At BACE, we also try to gather all relevant information and documentation, to verify income from multiple sources, and to use a combination of technology and manual verification methods.

Cash Flow Projection

Cash flow projection is the process of estimating future cash inflows and outflows to determine the ability of a company to meet its financial obligations. We collect precise financial data, evaluating elements such as sales, direct costs, operating expenses, finance costs and capital expenditures. Based on our clients needs we frequently analyze and modify the projection to enable the client to make sound business decision.

Advisory services

Provide businesses with important financial tools and analysis to assist in decision making and strategic planning. Here is expert advice on four key advisory services: 

  • Budgeting & Forecasting 
  • Tax Planning 
  • Performance Analysis
  • Plan & Design Accounting Processes
Budgeting & Forecasting

This service provides insight into future financial trends by projecting future sales, expenses, and profits. Accurate budgeting and forecasting can help businesses plan for growth and mitigate risks.

Tax Planning

Tax planning involves analyzing tax laws and regulations and advising businesses on the most advantageous tax strategies to minimize tax liability and maximize profits.

Performance Analysis

This service involves reviewing financial statements and metrics to measure a business's performance and identify the strengths and weaknesses of the business.

Plan & Design Accounting Processes

This service involves designing and implementing an effective accounting process. Assessing the nature of the entity’s operations in order to determine the type of outputs that will be required by the accounting process. Thereafter, design the accounting function in order to produce the outputs required. Provide detailed guidance on the treatment of transactions, workflows, and recommend the roles necessary to successfully execute the process.

By utilizing these advisory services, businesses can gain valuable financial insights and make informed decisions

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Accounting, Tax, Assurance and Advisory