Accounting firm - the reliable advisor
Accounting is a fundamental component of any business, therefore the decision of whether to appoint an in-house accountant or to rely on the services and assistance of an accounting firm is essential. Of course, the determining factors are many, but with the greatest weight are the size of the business that is managed, as well as the accounting specifics it requires.
Why use the outsourcing services of an accounting firm
In the last few years, more and more entrepreneurs prefer to entrust their accounting to an independent accounting firm. This is also an optimal solution when starting a small and medium-sized business. While we are still getting into all the processes and familiarizing ourselves with the legal requirements and vicissitudes from an administrative aspect, the accounting firm plays the role of our best advisor.
Working together with an accounting firm not only gives us the opportunity to focus on achieving our business goals but also minimizes the risk of possible gaps in legal requirements and changes. Such a discrepancy between the company's activities and the law would lead to sanctions that would cause serious financial losses to the business. Due to the high competence and narrow specialization of each accounting office, such a partnership would guarantee security and peace of mind for the owners.
Advantages of cooperative work with an accounting firm
We already mentioned that taking advantage of the outsourcing services of an accounting firm is the ideal option when starting a business. In this way, not only are redundant commitments regarding the selection and appointment of an internal accountant for the company removed, but the accounting firm will also assist us in the smooth passage through all processes of establishing the company and reporting its subsequent activity.
Another advantage of the accounting office is the flexible work model. Thanks to the prosperous portfolio of services of most accounting offices, owners have the opportunity to form their own packages of services that they wish to receive. Thus, the commission of the accounting firm varies according to the needs of the company. Unlike a partnership with an accounting firm, the costs of the company's own accounting department are not determined depending on the activity and income of the business. This means that instead of a floating monthly fee to the accounting firm, we will pay employees a fixed salary that does not always meet accounting needs.
The most important advantage of the accounting firm remains the professionalism with which it will represent the company before the relevant institutions. Appointing a personal accountant, we cannot always assess his competence and responsibility in relation to the legislation. Due to the narrow specialization of each accounting firm, changes in regulations are monitored extremely closely, while with an in-house accounting department we risk missing any significant change that would cause us unnecessary costs and losses.
Disadvantages of running a business from an accounting firm
As much ease as the accounting offices bring to the business, sometimes the in-house accounting department turns out to be the more reasonable option. For companies with large market positions and a more developed business structure and activity, the accounting office is not the main option, unless we entrust it with the commitment to deal entirely and exclusively with our accounting. This, of course, does not exclude the option of collaboration between the internal accounting department and an accounting firm to support its activity with partial services.
The in-house accounting department also allows for the timely execution of some more urgent operations, while the accounting firm would not always respond immediately. As part of a whole, our appointed accountants would show greater loyalty to us and the company's operations, which is another important aspect of running a business. On the other hand, a long-term partnership with an accounting firm would also unite the goals and ideals of both companies, making the accounting firm's team part of our company.
Accounting firm BulAdvice
BulAdvice is an accounting firm with more than 15 years of experience in administrative activities, legal and accounting issues, people management, and marketing optimization. In addition to the local level, the accounting office BulAdvice also develops its activities within the European Union, offering both on-site and remote support thanks to its wide range of virtual services. With its long-standing presence on the market, the accounting office BulAdvice has specialized in consulting and managing companies with multiple professional directions and in diverse business fields.
In order to be as useful as possible to our clients, we at the BulAdvice accounting office offer a prosperous portfolio of services that can be requested separately or combined in a package. BulAdvice accounting firm's offers to clients are tailored to the company's needs, thus owners pay only for services that meet business requirements. Also, the accounting office BulAdvice does not bind its clients to an employment contract for a certain period of time, which provides the freedom to terminate your relationship with us whenever you wish. This is also the reason why for more than 15 years we have been building correct and effective relations with local and international companies, and the only thing that binds us to them as an accounting firm is our professionalism in a number of areas:
- Assistance in establishing a company and starting an activity
- Changes in the legal status of a company
- Assistance in the liquidation of a company
- Accounting services
- Business administration services
- Personnel Management (HRM)
- Marketing Support
We cover the full range of services to make your endeavor successful!
REGISTER YOUR COMPANY!
Complete our easy registration form
We will answer all your questions!
Subscribe to our Newsletter