Accounting & Bookkeeping
Many organisations in Uganda carry the cost of a full in-house finance function when what they actually need is accurate, timely financial information prepared to a professional standard. James Ok and Partners, CPA provides outsourced accounting and bookkeeping services that deliver exactly that — without the overhead. Our work is performed under IFRS for SMEs or Full IFRS as applicable, and every set of accounts we produce is audit-ready from day one.
Bookkeeping and Management Accounts
We handle the full bookkeeping cycle — transaction capture, coding, reconciliations, and month-end close. From that foundation we prepare management accounts, board packs, and donor financial reports on whatever frequency the client requires: monthly, quarterly, or at year end.
Full-cycle bookkeeping — transaction capture, chart of accounts maintenance, reconciliations, and month-end close procedures.
Management accounts — income statement, balance sheet, cash flow statement, and variance commentary prepared for board or management review.
Bank reconciliations — performed regularly to ensure the accounting records agree with bank statements and to identify anomalies promptly.
Debtors and creditors management — aged analysis, payment scheduling, and follow-up support.
Fixed asset register — set-up, maintenance, depreciation schedules, and periodic physical verification.
Financial Statement Preparation
We prepare statutory financial statements under IFRS for SMEs and Full IFRS, with appropriate disclosure of the applicable framework. For NGO clients, we prepare financial statements in line with donor-specified frameworks where the grant agreement requires it.
Our financial statements are prepared with audit in mind — disclosures are complete, accounting policies are properly stated, and the supporting schedules are organised for the auditor’s file from the outset. Clients who engage us for accounting and then require a statutory audit experience a significantly smoother audit process as a result.
Payroll Processing
We process payroll for clients of all sizes — from organisations with a handful of staff to those with large, multi-grade payrolls. Each month we compute gross pay, statutory deductions (PAYE, NSSF, Local Service Tax), and net pay; prepare payslips; and produce the remittance schedules for filing with URA and NSSF.
Payroll is one of the areas URA scrutinises most closely. We ensure that PAYE computations are correct, that the annual PAYE reconciliation ties to the payroll records, and that NSSF contributions are remitted on time to avoid the statutory penalties.
Accounting Systems and Setup
For clients setting up a new finance function or moving from manual records, we design the chart of accounts, configure the accounting software, and establish the procedures for day-to-day transaction processing. We work across QuickBooks, Sage, Tally, Odoo, Xero, SAP Business One, and Microsoft Dynamics 365 Business Central.
Where a client already has a system in place, we review the configuration, identify gaps, and recommend improvements — including alignment with Uganda’s EFRIS requirements for VAT-registered businesses.
Frameworks We Apply
IFRS for SMEs — default framework for SMEs and most NGO clients.
Full IFRS — for large corporates, regulated entities, and where required by lenders or statute.
Donor-specified frameworks — where the funding agreement requires a specific basis of accounting or reporting format, we apply it.
Discuss Your Accounting Needs
Whether you need full outsourced bookkeeping, a one-off set of financial statements, or payroll processing from next month, contact CPA James Okello directly.
Tel: +256 788 822 204
Email: james@jamesokpartners.com