Outsourcing of Accounting
Financial accounting is an absolutely necessary secondary activity which needs to be done regularly even by the smallest business. It is not a quite easy task for such companies, as they need trained staff, equipment, premises. If you outsource your financial accounting to an external company, the associated costs will be significantly lower.
With outsourcing your financial accounting, you can save costs for remuneration and insurance of your own employees, their education, purchase of hardware and software required for financial accounting.
If you outsource your accounting, you will have time and space to devote to your main business activities, as well as to your current and potential clients and customers. Concentrate on the things you know (on your main activity) and leave the care of your accounting to us. Apart from accounting, we can offer you our managerial skills for the organization and circulation of documents, or our expertise in the form of a virtual director of finance.
Other advantages of outsourcing:
- Proper bookkeeping, including evaluation of individual accounting cases with respect to income tax and value added tax
- Decrease of risk – any potential risks established during bookkeeping are solved immediately both in view of accounting and tax. If you outsource services, you will reduce the risk of sanctions for not keeping to the procedures determined by law
- Sufficient number of experienced accountants speaking foreign languages - deputisation during periods of leave or illness
- Professional supervision carried out by supplier's managers (four eyes principle), specialization, knowledge of recent regulations and laws, ability to respond immediately to legislative changes
- Qualified representation in inspections performed by administrative authorities
- Preparedness for electronic communication (certified signatures)
- 9. September 2016
Control report six months later
As a tax specialist I haven’t much believed those who promised that control reports will be easy to do, which is what the Ministry of Finance claimed in their campaign prior to the introduction of control reports. As a taxpayer or a tax advisor I cannot say whether control reports have had the desired effect for tax encashment, that must be assessed by others. However, I am able to evaluate to…
- 4. October 2012
News in accounting in the year 2012
In this article we would like to make you acquainted with the news in the accounting which started to be valid during the year 2012 and starting from year 2013. We have notified you of the amendment whose effectiveness starts from 1.1. 2013 and which involves corrections of errors of last years, already in FM no. 7. We would like to remind you of the amendment valid from 1.1.2012 which has been…