A Glimpse at Optima Accounting Services

We assist your organization to make sense of the day to day financial transactions and make informed decisions. From initial set up of basic accounting systems and procedures to upgrades to complex systems we walk with you to ensure the financial health of your organization is secured. Our web-based systems allow you secure access to your organization’s information and insights 24/7. We have embraced technology in order to serve clients in all parts of Kenya. We customize our service to complement your existing staff and our fixed-fee pricing enhances predictability.
Our input includes:

• Setting up accounting systems, policies, and procedures
• Accounting data input and record keeping as prescribed by the law
• Accounts receivables and payments management
• Bank and ledger reconciliations
• Project Accounting, Reporting, and audit
• Financial reports preparation as prescribed by law
• Periodic management reports preparation to track performance and inform decision making
• End of year statutory accounts preparation and external audit support
• Review of internal controls to minimize losses due to fraud
• On the job practical training for accounting staff

A successful organization needs to properly manage her tax obligations. Our experienced team of registered tax agents helps clients navigate the dynamic world of local and international taxes ensuring compliance with relevant regulations.
Our consultants will assist you on:

• Registration for the required tax obligations
• Tax Planning and Tax Compliance Audit
• Tax Compliance Certificate application and follow-up
• VAT Exemption Certificate Application and follow-up
• VAT Refund application and follow-up
• Application for waiver of penalties and interest
• Tax Computation and filing of tax returns (VAT, Withholding Tax, Rental Income Tax, PAYE, etc)
• Tax Compliance Audit
• Procurement and maintenance of a suitable Electronic Tax Register
• Practical and interactive tax training

Whether you run a charitable, club or a faith-based organization, not for profit organizations (NGOs) require a unique approach towards Accounting and Tax matters. We go beyond traditional accounting needs to enhance proper control over resources and improved donor relations. We pride ourselves in partnering with not for profit organizations to enhance their impact on their chosen area of involvement.
Our team can assist you on;

• Financial Management & Controls Policy Development
• Cash management controls
• Application and follow up on tax exemption status
• Disbursements & expenses management
• Grants Management
• Budget planning and management
• Project Accounting & Audit
• Project Reporting Requirements
• IPSAS Implementation Support & Training

An organization is only as good as the quality and skill of its workforce. To keep up with the rapidly changing business and regulatory environment, organizations must continuously build capacity in their employees to make them effective in their roles.
Our training programs are carefully designed to equip participants with practical and relevant insights to tackle workplace challenges and guide the organization to success. We customize our training sessions to address the unique business challenges that our participants face in their work environment.
Our programs are structured for maximum impact in increasing employee productivity and ultimate career satisfaction. We also have personalized (one-on-one) programs to cater to our unique client needs.
We offer training in the following areas;

• Financial Management
• International Financial Reporting Standards (IFRS)
• Public Financial Management & IPSAS Implementation
• Tax Planning & Compliance
• Customer Service
• Building Effective Teams
• Effective Communication Skills
• Project Management for Professionals
• Transformational Leadership

Payroll is a critical business process that has a great impact on the smooth running of an organization. It also attracts frequent audits by tax authorities for compliance with Income Tax guidelines on employee taxation. Our payroll solutions are aimed at enhancing accuracy, quality, confidentiality and compliance in payroll processing.
Our outsourced support includes:

• Advise on suitable payroll software to suit organization needs
• Staff timesheets and Leave Management
• Processing employee basic pay, overtime, bonus and non-cash benefits
• Accurate calculation of statutory deductions (PAYE, NHIF, NSSF, HELB)
• Direct deposit of net pay to employees accounts on the required date
• Filing the necessary returns and making statutory payments in time to avoid penalties
• Payments to third parties (Saccos, Bank loans, Pension Managers, HOSP)
• Secure online Payslips and tax cards (P9)
• Payroll reports and analysis for decision making
• Secure and confidential storage of payroll information
• Managing KRA payroll audits and compliance checks

The business world today is very volatile. Changes in Technology, Competition and Regulatory requirements continuously disrupt the business world as we know it rendering prior business strategies ineffective. Leaders have to continuously scan the business environment and adjust strategies accordingly.
Our tailor-made solutions enable organizations to overcome challenges in a dynamic business environment. Our team helps you navigate challenges unique to your business situation and provides workable solutions to your most pressing issues.
Our experienced team assists organizations in:

• Growth Strategy Development
• Performance Monitoring and Improvement
• Business Intelligence for Decision Making
• Annual Budget Preparation
• Internal Audit, Processes and Procedures Audit
• Business Processes Reorganization
• Investment Appraisal
• Outsourced CFO Services

Stephen is the Founder of Optima Accounting Services Limited and serves as the Managing Consultant coordinating the operations of the firm. He has extensive experience spanning over 10 years in the areas of Accounting, Financial Management, Payroll, Taxation, Audit, Strategic Management and Training.
Stephen has consulted for organizations in Real Estate, Technology, Manufacturing, Import & Export, Agribusiness, Telecommunications and Services sectors in the country. Prior to establishing Optima Accounting Services, Stephen worked for a Big 4 Audit firm for 9 years. Stephen is a Certified Public Accountant and a member of the Institute of Certified Public Accountants of Kenya (ICPAK).
He holds a Bachelor of Arts (Economics & Business Studies) from Kenyatta University and is currently undertaking a Master’s degree in Business Administration at the University of Nairobi.

Raphael oversees the Training and Capacity Building Services at the firm. He has extensive Financial Management experience spanning over 20 years. He has experience in various sectors such as Dairy Processing, Oil Industry, Agribusiness and Academia. He also has extensive training experience and lectures business courses at a local private university.
Raphael is a Certified Public Accountant and a member of the Kenya Institute of Management. He holds a Bachelor of Commerce Degree (Accounting Option) from Kenyatta University and Master of Business Administration degree from USIU Africa. He is currently pursuing a PhD in Business Administration at the Dedan Kimathi University of Technology.

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