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Outsourcing accounting services

Accounting services 1

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Accounting is one of the most ancient fields, gained indisputable importance more than 7000 years ago in Ancient Mesopotamia. Back then accounting services were already a key part of the agricultural business, on which production analyses at the end of each season were based. Accounting services were already a key part of the agricultural business, on which production analyses at the end of each season was based. People continue to perform similar accounting services, albeit much more thoroughly and precisely, so that they can get a clear picture of the success of their company even now. The importance of accounting services for business retains its established positions, regardless of the pace of development and innovation in the world, therefore professionalism in accounting services continues to be not only highly valued but also strongly advocated.


What is behind outsourcing accounting services

Regardless of the size of the business and the competence of the employees, every company needs accredited professionals to perform the company's accounting services. While larger companies have the means and the need to develop their own accounting services department, small and medium-sized businesses often rely on outsourced accounting services from an outside company. This model of working does not always preclude having an in-house accounting department, with many companies coordinating their internal accounting services structure with a partner accounting firm. In this way, the company can guarantee you timely information about important changes in local tax and financial law regarding business-related accounting services.

Another advantage of outsourcing accounting services is the financial expression of such a partnership. Having your own department for accounting services generates constant monthly costs for staff salaries, as well as additional training and the provision of the making and storage of accounting records. The outsourcing alternative to in-house accounting eliminates the need for such superfluous feathers, and the commission for such accounting services would certainly seem nominal compared to the costs of an in-house accounting services department. Outsourced accounting companies at the same time guarantee professionalism and security, providing peace of mind to anyone who dares to implement their business ideas. In order to be a successful entrepreneur, you do not need to be a specialist in everything. Knowledge in one area and the right choice of partners and consultants for accounting, financing, planning and forecasting are sufficient.


Accounting services in accordance with legislation

Accounting services 2

Accounting services - learn more!

Knowledge of accounting standards and requirements is only part of the work of the relevant department. By concluding a contract for accounting services with such a company, any business owner could safely operate on the Bulgarian and European markets, minimizing tax risks. In order not to direct unnecessary efforts in the direction of compliance, interpretation and continuous updating of Bulgarian tax laws and applicable international agreements and European directives regarding accounting services, companies could benefit from tax consulting services:

  • Tax efficient solutions for specific business cases in the field of accounting services and tax legislation
  • Consultations related to VAT, corporate and personal taxation, withholding taxes and all other direct and indirect taxes.
  • Advice related to local fees and charges.
  • Tax advisory services related to the implementation of treaties/agreements for the avoidance of double taxation and preparation of documentation for their implementation.
  • Advice related to the tax effects of business relationships, mergers and acquisitions and other matters related to business management decisions.
  • Representation before the tax authorities, including during tax audits and inspections, as well as assistance in the preparation and submission of model returns and other forms of reporting required by the tax authorities.

Portfolio of accounting services from BulAdvice

BulAdvice is an accredited accounting company with more than 15 years of experience in the field, which offers accounting services to Bulgarian and international companies. Their specialization in business management and consulting for companies in various industries, as well as the analysis of different business models, have led to BulAdvice's success in accounting services. In this way, outsourcing accounting services significantly optimize the costs of companies, because each client pays only for the accounting services that he uses for the effective development of his business.

Accounting services 3

Accounting services - learn now!

The activity and competences of BulAdvice extend both throughout Bulgaria and at the level of the European Union, which allows the provision of accounting services to companies with international subsidiaries and operating in international markets. The full range of virtual accounting services and a virtual assistant allow transparency and complete freedom of access to the company's database in real time. Some of the main accounting services that BulAdvice offers to its clients are:

  • Monthly accounting services in accordance with applicable national and international standards
  • Corporate taxation, VAT reporting and VAT OSS reporting
  • Correspondence and representation before tax authorities.
  • Interim management reporting.
  • Annual fiscal closing and preparation of financial statements and tax returns.
  • Payroll processing services.
  • Optimization of manpower.
  • Reduction of labor costs - by cutting a revolving HR department from the management of the payroll department.
  • Security and privacy.

Outsourcing accounting services

What is behind outsourcing accounting services

Accounting services in accordance with legislation

Portfolio of accounting services from BulAdvice


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