Portfolio of the accounting services
The accounting service of any business is a highly formal process that follows certain legal frameworks. This requires the strict implementation of all procedures in accordance with the imposed deadlines and the precise filling of various forms, declarations, and reports. The accounting service of the company's activity is also tied to continuous information about changes in laws and requirements, therefore the choice of an accountant or an accounting outsourcing firm is essential.
Monthly accounting service
Monthly accounting service includes the posting of purchase and sale invoices, as well as the processing of bank and cash payments. The accounting service of all transaction documents serves to maintain the accounting balance of the company, allowing us to receive timely information about the state of the business. In addition to internal reporting, the accounting service requires the preparation and submission of various documents to the relevant institutions, and the monthly accounting service includes the following activities:
- submission of information to the National Revenue Agency;
- preparation of monthly VAT returns;
- monthly Intrastat and VIES declarations;
- references and reports for NSI;
- tax declarations under Corporate income tax law;
Along with information about the company's monthly activity, accounting services also require human resource management. This line of accounting services includes monthly calculation of salaries, deductions, and taxes, and preparation of monthly pay slips and individual slips.
Year-end accounting service
Before we take action for annual closing accounting services, it is appropriate to make a timetable that will highlight the stages by which the procedure will proceed. To begin with, the primary accounting documentation is prepared and arranged, which will serve as our starting point for the preparation of the annual financial statements. All relationships with partners that have arisen and ended during the year are also reviewed, especially changes in the share distribution of the capital, as well as contractual relationships with other enterprises. The annual accounting service also requires the issuing of invoices for rent payments and reporting of expenses, the calculation of interest on granted and received commercial loans, as well as a review of any awarded receivables and decisions. All complaints are reviewed, management decisions are made on the cases and all billing relationships are closed.
Based on the monthly accounting service, documentation is prepared to summarize the accounting operations performed during the year. The annual accounting service begins with a review of all accounting documentation for the past fiscal year, making appropriate corrections as necessary. Only then does the annual accounting service deal with closing the income and expense accounts. All annual financial statements are drawn up on this basis:
- Accounting balance
- Statement of income and expenses
- Cash Flow Statement
- Equity Statement
Fiscal year-end accounting services include the preparation of payrolls, chronologies, and final tax returns.
Additional services from the accounting service
In addition to the standard monthly and annual accounting service requirements, there are additional engagements and services that we could benefit from. It is completely natural that the accounting office to which we entrust our accounting services represents us before the tax authorities, as well as during tax inspections and audits. It plays the role of the most competent business advisor in relation to applicable national and international standards, therefore we can also take advantage of the opportunity to receive consultations on operational financial and accounting cases and preparation of reports for management needs.
BulAdvice has extensive experience in the field of business and accounting services, which is deployed in many and varied services. We do not limit our clients with accounting service packages, but allow them to determine the number and type of services their business needs. Don't hesitate to contact us if you're not entirely sure what kind of accounting help you need. Together we will determine the needs of your business without unnecessary contracts and commissions for services you do not use. Learn more about Year-end Closing Accounting.
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