Accounting and Bookkeeping Outsourcing for Multi-Entity Business Group
Centralized Financial Management for Group of Five Companies
Services Provided
The Challenge
A trading and distribution group operating five separate legal entities in Qatar was struggling with inconsistent financial reporting, late management accounts, and discrepancies between entities. The group's existing in-house accountant had resigned, and the companies needed immediate financial management support ahead of the annual audit and potential VAT implementation.
Our Solution
Deployed a dedicated accounting team within 48 hours of engagement to conduct an emergency review of all five entities' financial records and identify discrepancies.
Migrated all five entities to a unified cloud-based accounting system, standardizing the chart of accounts, cost center allocations, and reporting templates across the group.
Implemented monthly closing procedures with automated inter-company transaction reconciliations, producing consolidated group management reports by the 10th of each following month.
Prepared all five entities for their annual statutory audit, including reconciliation of all balance sheet accounts, preparation of lead schedules, and coordination with the external auditors.
Established a VAT-readiness framework with proper invoice formatting, input-output tax tracking, and reporting templates in anticipation of Qatar's planned VAT implementation.
The Results
- All five entities' books brought up to date within the first month of engagement.
- Group consolidated management accounts delivered monthly, 15 days earlier than the previous in-house arrangement.
- Annual audit completed with zero material adjustments for the first time in the group's history.
- Accounting costs reduced by 40% compared to maintaining a full in-house finance department.
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