Outsource accounting

Accounting is a systematic recording, reporting and analysis of financial transactions of a business that allow a company to analyze the financial performance of the business. In order to save money and reduce expenses, accountancy very often is being put on an outsourcing basis which can do the same work faster, better and cheaper.

Outsourcing is the contracting a third-party organization to provide an internal business process.

The concept of outsourcing some activities related to the company's day-to-day operations has proved to be an effective method of improving performance in many countries. A lot of companies have found it beneficial to eliminate all departments that are not directly related to their primary line of business: sales, production, accountancy or services.

Numerous advantages arise of an outsource accounting, for instance, you will receive professional service from other company, you do not have to find and hire an employee and pay employment taxes pay for vacations etc. Due to a higher circulation of documents, outsource accountants are more experienced, they can also receive professional legal advice from colleagues-lawyers. You can control the amount of necessary information, given to an accountant by contracts and agreements. In the result, the total cost of outsource accounting is much smaller than having a private accountant.

Our accounting services

Our accounting services include:

  • Entering the source documents into accounting registers
  • Calculation of salaries and preparation of payroll
  • Calculation of vacation and preparation of vacation payment list, sick-pay calculation
  • Preparation of other documents concerned with employees (for example, preparation of working time table)
  • Calculation of taxes and interpretation of information regarding amount of taxes, terms of payments and bank account numbers
  • Preparation and submission to State revenue service and other authorities all necessary reports (including VAT reports, payroll reports, annual reports, personal and company income tax declarations)
  • Preparation of organizational documentation concerning the accounting
  • Business advice, counseling and mentoring

We continue to co-operate with the client beyond doing the books and reports. At this stage our services include, but are not limited to, supervision of bookkeeping activities performed by the client and assistance in solving accountancy problems.

Our services may also include:

  • Ad hoc assistance for internal finance personnel, finance controllers and management on accounting and tax issues
  • Assistance during statutory or internal audits
  • Conducting regular reviews of accounting documentation and procedures
  • Implementation of a model for accounting transactions in the single currency used by the group
  • Implementation of a reporting model for group reporting purposes
  • Development of a methodology for drawing up and controlling the company's budget

Feel free to contact us at any time we will try to answer you as soon as possible!

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