Bills paid on time, invoices collected on time
Accounts payable and receivable
Finbryn runs accounts payable and receivable for Hong Kong companies: vendor bills entered and paid through Xero or QuickBooks Online, customer invoices sent and chased, and both ledgers reconciled weekly. Every file is checked by a senior principal before it reaches you, and your ledgers stay audit-ready for the HK CPA who signs your annual statutory audit.
Aged receivables
Illustrative client · August 2026
HKD
| Customer | Current | 1-30 | 61+ | |
|---|---|---|---|---|
| Customer A | 18,400 | - | - | - |
| Customer B | 9,250 | 4,100 | - | - |
| Customer C | - | 6,780 | 2,200 | - |
| Customer D | 12,600 | - | - | - |
| Customer E | - | - | - | 1,450 |
| Total | 40,250 | 10,880 | 2,200 | 1,450 |
Illustrative. An example of the document, not a client's figures.
AP and AR built for Hong Kong's audit cycle
Every active Hong Kong company files a Profits Tax Return (BIR51) with audited financial statements attached, and there is no small-company exemption from that audit. Messy payables and receivables are the most common reason an audit drags past its deadline. Our accounts payable and receivable service keeps both ledgers clean all year, so the practising Hong Kong CPA who signs your audit is working from records that already reconcile.
On the payable side, vendor bills are entered and coded to your chart of accounts, routed for your approval, and paid through the tools common in Hong Kong, mainly Xero and QuickBooks Online, with Zoho Books also supported. New suppliers go through onboarding before their first payment, and larger bills go through a three-way match against the purchase order and delivery note before approval.
On the receivable side, customer invoices go out on schedule, overdue accounts are followed up on a set cadence, and incoming payments (bank transfer, FPS, cheque or card) are matched to the right invoice as they land. A monthly accounts receivable ageing report shows what is owed and how overdue it is, before a slow-paying customer becomes a cash problem.
Weekly reconciliation, not year-end reconstruction
We reconcile AP and AR weekly and close the month by business day five. That pace matters more in Hong Kong than in a jurisdiction without a mandatory audit: a supplier account or customer balance that has been reconciled every month for a full financial year gives your auditor a far shorter, far cheaper fieldwork list than one assembled in the weeks before BIR51 is due.
Delivery
Every month's work is reviewed by a senior principal before it reaches you, and your file stays in your own Xero, QuickBooks Online or Zoho Books account. The statutory audit itself, and the BIR51 filing that depends on it, are carried out by your appointed Hong Kong CPA, not by us.
No VAT, no GST
Hong Kong has no VAT or GST, so there is no indirect-tax return to reconcile against here. AP and AR ledgers feed straight into Profits Tax and the annual audit instead.
All services
Accounts payable and receivable: every service
- Bill pay (Bill.com, Melio)Vendor bills are entered, coded and routed for your approval, then paid on the schedule you set through Bill.com or Melio, with every payment matched back to its bill.
- InvoicingCustomer invoices are created and sent on the schedule your contracts call for, with terms, quantities and pricing checked against the underlying agreement before anything goes out.
- CollectionsOverdue invoices are followed up on a set cadence, with reminders sent and calls logged, so slow-paying customers get consistent attention without you having to chase them yourself.
- Aged receivables reportAn aged receivables report is prepared each month, showing what customers owe and how overdue it is, so you can see collection risk before it becomes a cash problem.
- Cash applicationIncoming customer payments are matched to the right invoice and posted to the correct account, so accounts receivable reflects what is actually still owed.
- Three-way matchPurchase orders, receiving records and vendor invoices are checked against each other before a bill is approved for payment, catching price and quantity errors before money moves.
Questions
Frequently asked questions: Accounts payable and receivable
Does clean AP and AR actually reduce our Hong Kong audit cost?
It typically does, because auditors bill for the time spent tying out balances. When vendor bills and customer invoices have been reconciled every week for the full year, the auditor spends less time reconstructing entries and more time on the audit itself. We cannot promise a specific fee reduction; that is between you and your CPA.
Do you file our BIR51 or arrange our audit?
No. We prepare and keep your accounts payable and receivable records audit-ready. The statutory audit and the BIR51 profits tax filing that depends on it are handled by your appointed Hong Kong CPA, since Hong Kong has no small-company audit exemption.
Which accounting software do you work in for Hong Kong companies?
Mostly Xero and QuickBooks Online, with Zoho Books also supported. We work inside the file you already use rather than asking you to migrate.
How do you handle payments made in currencies other than Hong Kong dollars?
Multi-currency vendor and customer transactions are coded and reconciled in the currency they were paid in, then translated for reporting inside your accounting software. Tell us your usual currency mix during onboarding so ageing reports reflect it correctly.
Who approves vendor payments day to day?
You do. Bills are entered, coded and queued for your approval; nothing releases without your sign-off unless you choose in writing to delegate that step.
What does Finbryn actually handle day to day for AP and AR?
Vendor bills are entered, coded and queued for your approval, and customer invoices are drafted, sent and chased on a set cadence. Bank and card receipts are matched to the right invoice or bill each week, so both ledgers stay reconciled between monthly closes rather than only once a month.
How fast are bills paid and invoices sent out?
Vendor bills are entered and coded as they arrive, on business days, and queued for the payment run schedule you set. Customer invoices go out once a contract, rate card or sales order confirms the amount, and recurring invoices are scheduled automatically so nothing slips between periods.
Who can see or export our AP and AR ledgers?
You keep full access to your own Xero or QuickBooks Online account at all times, including every bill, invoice and reconciliation our team enters. Nothing sits in a separate system, and you can export the full ledger history whenever you need it, with or without us.
Next step
Talk to the team that would run your books
A short call covers your setup, your software and what a first month would look like. You get a written scope and price after it.