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Accounting services

Accounting services

ACCOUNTA provide accounting services in an efficient and pro-active manner by identifying possible accounting and tax issues including advising our clients on the impact of their transactions in the financial statements. Our services are provided in both Bulgarian and English in close cooperation with our clients. We aim to identify areas of potential risk and find proper solutions.

The accounting services we provide can be broadly divided in the following groups:

Statutory accounting: processing all monthly accounting documents and advice on supporting documentation which needs to be prepared. We prepare all required statutory reports: trial balances, sales and purchase ledgers, VAT returns, corporate income tax returns, and file the declarations with the relevant authorities in due course. We perform interim and year-end statutory set of financial statements, in the format required by local regulations. We use modern accounting software including electronic signature.

Payroll administration: The payroll administration includes review of employment contracts of our clients’ employees, registration of these contracts with the National Revenue Agency, monthly calculation of net salaries by computing the statutory instalments and taxes, notification of the revenue authorities as required.

IFRS reporting: We prepare monthly/quarterly stand alone financial statements in accordance with International Financial Reporting Standards (IFRS) including: balance sheet, income statements, cash flows, statement of changes in equity, notes to the financial statements.

Group reporting: We assist our clients in the preparation of group reporting financial statements, consolidated files, as required by their headquarters and assist in the timely and accurate preparation of such statements.

Management accounts: We draft revenues and expenses budgets, management accounts (including a comparison between budgeted and actual results); we draft forecasts, prepare other reports required by management and / or shareholders.

Cash Management: The service include preparation of bank payment documents, obtaining bank statements on a regular basis, on-line banking transactions, cash flow statements preparation.

Other services: Assistance during external audit process, assistance during tax audits, IFRS training to internal financial department, merger and acquisition projects.