Accounting outsourcing in Ukraine
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Are you tired of spending endless hours managing your company’s accounting and tax obligations? Look no further than Accounting outsourcing in Ukraine! Our team at “Saved Assets”, a subsidiary of Western Consulting Group, provides expert accounting outsourcing services to organizations of all types and sizes. From traditional outsourcing for companies subject to general and simplified taxation systems to past services for businesses with irregular financial transactions and tax planning needs, we offer tailored solutions to your needs. Our expertise spans a range of industries, including retail, hospitality, transportation, mining, communications, e-commerce, construction, manufacturing, and foreign trade. Let us take care of your accounting needs so you can focus on growing your business!
Advantages of accounting outsourcing and requirements for the professional level of experts
Regarding accounting outsourcing, there are many benefits to working with an external company rather than relying solely on in-house staff. In Ukraine, tax reporting must be based on accounting. Therefore, it is important to have specialized knowledge in this field. Special documents typically confirm these. For example, experts from the “Saved Assets” Accounting Company hold international CAP and CIPA certificates, confirming their high qualification level. This work is the profile of the group, its daily work, and business reputation. Furthermore, by outsourcing accounting services to professionals like Western Consulting Group, businesses can receive expert support and free up valuable resources to focus on other operations.
Benefits of accounting outsourcing:
- Delegation of specific functions and procedures to non-staff workers
- The special contract is prepared before executing any plans
- Services provided by specific specialists with extensive knowledge in the field
- Used to reduce costs or to perform specific tasks
- Allows businesses to receive expert support and focus on other aspects of their operations
Requirements for professional expertise:
- Specialized knowledge in the field of accounting
- Typically confirmed by certain documents such as CAP and CIPA certificates.
- Accountants can easily and quickly organize the income and fees of organizations of different levels.
- Outsourcing accounting services can free up valuable resources for businesses to focus on other operations.
Accounting outsourcing takes into account the individual characteristics of enterprises.
Accounting outsourcing is a service customized to meet each client’s individual needs. Therefore, the price of accounting outsourcing is determined based on the basic tariff, the document flow accepted at the enterprise, and the peculiarities of the company’s operations. The price is also set based on the assistance provided and the complexity or ease of tax calculations. The pricing formula is also affected by the peculiarities of preparing and filing reports depending on whether the organization belongs to the simplified or general taxation system. The calculation formula for accounting outsourcing also includes the need to pay special taxes, which depend on the specifics of the company’s operations and the number of employees.
Accounting outsourcing includes the following services:
- Compliance with unified accounting principles according to generally accepted standards and Ukrainian legislation;
- Preparation of invoices that reflect all the client’s business operations;
- Preparation and submission of accounting, financial, and tax reports to certain state institutions, organizations, and establishments within the specified period, as well as protection of clients’ interests when submitting them;
- Preparation of accounting declarations.
The necessary documentation package for accounting outsourcing includes the following:
- Balance sheet;
- Financial results report;
- Value-added tax declaration;
- Single tax report for legal entities;
- Income tax report for individuals;
- Single social contribution report;
- Report to the Disabled Persons’ Fund.
The need to submit this package of documents or its separate parts arises constantly and depends on the specific features of the client’s operations. However, the above list does not include some specialized reports, such as excise tax reports or reports on other special taxes or local taxes for local government agencies. These may be documents that certify the distribution and use of budget funds, subsidies, and grants.
Benefits of accounting outsourcing with an individual approach:
- Customized service package
- Price determined based on individual needs
- Compliance with unified accounting principles
- Preparation of all business invoices
- Preparation and submission of all necessary reports
- Preparation of a comprehensive documentation package based on the specifics of the company’s operations
Providing accounting outsourcing throughout Ukraine
Western Consulting Group’s accounting outsourcing services are available all across Ukraine, thanks to the expertise and capabilities of their subsidiary company, “Saved Assets”. The company’s services were initially only available in Lviv and were branded as “Chief Accountant Lviv” due to the work involved. But the professionals at the company have since learned the skills and tools they need to prepare and file reports and declarations in all parts of Ukraine, depending on where their clients live. So whether you need a bookkeeper in Kyiv, a tax accountant in Kharkiv, a chief accountant in Ivano-Frankivsk, a general accountant in Lutsk, or accounting services in Rivne or Khmelnytskyi, Western Consulting Group has the practical experience to provide these services equally across the country. Moreover, the pricing for accounting services is uniform across all regions.
With modern accounting software and electronic document management tools, tax reporting can now be submitted electronically, and there are no longer any limitations on where it can be submitted. As a pioneer in the field, Western Consulting Group and its subsidiary, “Saved Assets”, have tried and tested every possible option for providing quality and modern accounting outsourcing services to clients. As a result, the company’s professionals are well-equipped to prepare and submit reports and declarations in all regions of Ukraine, providing the necessary support for businesses to operate efficiently and effectively.
Electronic reporting and digital signature in accounting outsourcing
Considering outsourcing your accounting services, consider the benefits of electronic reporting and digital signatures. Accounting company “Saved Assets”, a subsidiary of the Western Consulting Group, recommends that clients opt for an electronic contract rather than traditional paper agreements, signed with an electronic signature (ECP). Electronic reporting is a more convenient and effective way of interacting with pension funds, tax authorities, and the State Statistics Committee. With an ECP and a service agreement with the company, their consultants can assist with preparing and submitting tax returns, financial statements, and other reports. Not only does this save you time, but it also eliminates the risk of fines for late submissions. Plus, the cost of an ECP is affordable and can be obtained easily through a certification authority. These electronic keys are securely stored in a special vault on protected media, ensuring maximum safety. Additionally, the company doesn’t charge extra fees if the ECP is used with corporate software.
Advisory services – accounting consulting
If you’re running a business in Ukraine, you need professional accounting services. But what do you do when you encounter problems that your in-house team can’t solve? This is where consulting services come in handy. At Western Consulting Group’s subsidiary company, “Saved Assets”, we offer accounting outsourcing to support your business needs. Our consulting services are designed to help you navigate the complexities of accounting, taxation, and financial reporting. Our independent consultants analyze your financial documents, detect errors, and propose optimal solutions to mitigate risks and avoid penalties from tax or other regulatory bodies. Our accounting outsourcing and consulting services cater to small and medium-sized businesses, inexperienced staff, or seasoned professionals looking to expand their knowledge. However, selecting a reliable company that specializes in providing only accounting outsourcing and consulting services is essential. At “Saved Assets” we ensure that our team has the necessary reputation, education, knowledge, and experience to provide you with high-quality services. Contact us today for more information on how our services can benefit your business.