Accounting services in Bangladesh turn a business's recorded transactions into reliable financial information: monthly management accounts, payroll and tax accounting, year-end financial statements under IFRS as adopted in Bangladesh, and schedules for the income tax return, VAT reconciliation and statutory audit. They are typically outsourced by SMEs, startups and foreign subsidiaries that need professional-level accounts without a full in-house finance team.
Accounting services sit one level above bookkeeping. Bookkeeping records what happened; accounting interprets it, applies the correct standards and produces reports that owners, auditors, banks and the National Board of Revenue rely on. In Bangladesh, the same set of accounts must satisfy several audiences: the Companies Act 1994, the Income Tax Act 2023, the VAT and SD Act 2012, and, for many entities, the Financial Reporting Council's requirements under the Financial Reporting Act 2015.
This page is for owner-managers, startup founders, and finance heads of foreign-owned subsidiaries and branch offices who want monthly accounting handled professionally. If your main need is day-to-day transaction entry, see our bookkeeping service; if you want help deciding how to structure the whole finance function, see accounting and bookkeeping.
On this page
What our accounting services cover
- Monthly closing: accruals, prepayments, depreciation, provisions and inter-company entries
- Management accounts: profit and loss, balance sheet, cash flow and key ratios with short commentary
- Budget versus actual reporting and rolling cash-flow forecasts
- Fixed asset register and depreciation for both accounting and income tax purposes
- Payroll accounting, including salary TDS, provident fund and gratuity provisions
- Year-end financial statements under IFRS as adopted in Bangladesh, ready for audit
- Group reporting packs for foreign parents, in their format and timetable
Why accounting quality matters for tax and VAT
Revenue authorities increasingly compare figures across sources. Sales in the audited accounts are checked against Mushak 9.1 returns, expenses against TDS and VDS records, and bank deposits against declared income. When the accounts are prepared without reference to tax filings, unexplained differences appear and become audit questions.
Good accounting also affects how much tax you pay. Correct classification of capital versus revenue expenditure, proper documentation of expenses so they are allowable, accurate tax depreciation, and timely input VAT claims all depend on how the books are kept and reviewed during the year, not just at year end.
Need this done for you?
Message us on WhatsApp with your situation and we will tell you exactly what is needed.
Accounting for foreign-owned companies
Subsidiaries, branch offices and liaison offices of foreign companies have additional needs. Parent companies usually want monthly reporting in their own chart of accounts and currency, while local statutory accounts follow Bangladeshi requirements. Branch and liaison offices have Bangladesh Bank and BIDA reporting obligations, and inward remittances, share capital and loans must be documented properly for later repatriation of profits or capital.
We map the local ledger to the parent's reporting structure, keep foreign currency transactions and encashment certificates organised, and prepare the schedules auditors and the AD bank will request.
Signs you need professional accounting support
- Management sees numbers only once a year, when the auditor finishes
- Bank balances in the books never match the bank statement
- VAT returns and income tax returns are prepared from different figures
- The auditor raises the same adjustments every year
- A lender, investor or parent company is asking for monthly reports you cannot produce
- Your only accountant is leaving and nobody else understands the books
How the process works
- Discovery callWe understand your business, entity type, current software, reporting needs and deadlines.
- Review existing booksWe review the trial balance, last audited accounts and tax filings to identify clean-up work.
- Set up structureWe agree the chart of accounts, cost centres, closing calendar and report formats.
- Monthly closeEach month we process adjustments, reconcile key accounts and issue management accounts by an agreed date.
- Quarterly reviewWe review tax, VAT and audit-sensitive balances with you so year end has no surprises.
- Year-end and auditWe prepare draft financial statements and the audit file, and answer the auditor's queries.
Typical timeline: Onboarding and clean-up typically take two to six weeks depending on the condition of existing records; after that, monthly management accounts are usually delivered within an agreed period after month end.
How Tax & VAT Associates helps
- Monthly management accounts with short commentary
- IFRS-based year-end financial statements and audit file
- Tax-ready schedules for the company or individual income tax return
- Reconciliation of accounts with VAT returns and withholding records
- Parent company reporting packs for foreign-owned entities
- Cash-flow forecasting and budget tracking
Frequently asked questions
Which accounting standards apply in Bangladesh?
Bangladesh has adopted International Financial Reporting Standards, formerly issued locally as BFRS and BAS, with the Financial Reporting Council overseeing standards under the Financial Reporting Act 2015. Which entities must follow full IFRS and FRC requirements depends on their classification, but most companies prepare statements on an IFRS basis for audit.
What software do you work with?
We can work with common cloud and desktop accounting packages, ERP systems used by larger companies, or structured spreadsheets for very small entities. The software matters less than a sensible chart of accounts and a consistent monthly routine. Where software is not suitable, we can recommend options.
Can you take over accounting mid-year?
Yes. We start from the latest reliable trial balance or audited accounts, bring the books up to date, and then move to a monthly cycle. A mid-year handover is often a good time to correct historical issues before the next audit.
Do you also do the statutory audit?
No. A statutory audit must be carried out by an independent firm of chartered accountants who are members of ICAB, and the firm preparing your accounts should not audit them. We prepare audit-ready accounts and work with the auditor your company appoints.
Is outsourcing accounting suitable for a small company?
Often yes. A small company may not need a full-time qualified accountant, but still needs accurate books, tax-compliant records and annual financial statements. Outsourcing gives access to that expertise for a predictable monthly fee, while a junior staff member or the owner handles daily entries.
How do you handle confidential financial data?
Access is limited to the team working on your account, data is shared through agreed secure channels, and we sign a confidentiality agreement on request. You retain ownership of your books and records at all times.
Ready to get started with Accounting Services?
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Learn more →Last reviewed: . Bangladesh tax and regulatory rules change with each Finance Act, SRO and authority circular. This page is general guidance; confirm current requirements for your case before filing.