Small and medium-sized businesses are often disadvantageous to hire full-time accountant. At the same time, it is important to do the bookkeeping properly – tax service can impose fines for any mistake in financial documents. Legislation of the Russian Federation often changes; amendments are regularly made to it, as a result of which even full-time specialists experience difficulties.
Outsourcing can reduce staffing costs by up to 30% and avoid mistakes. Professional accounting is much safer than self-accounting. In addition, there is no need to worry about who will keep accounting if employee becomes ill or quits.
VALEN offers accounting services for legal entities and individual entrepreneurs. This can be comprehensive service on ongoing basis, as well as implementation of certain types of work, including cover for temporarily absent specialists, including chief accountant.
Tax and accounting
Tax accounting is a process of systemization and summarizing data in manner prescribed by the Tax code of the Russian Federation. Based on accounting, tax base is formed. All companies are obliged to conduct it, including those applying special tax regimes.
Procedure for tax accounting is prescribed in accounting taxation policy. It is approved by order of head of company, this is main document that allows you to perform tax calculations.
Objectives of tax accounting:
- formation of complete and reliable information about amounts of income and expenses that determine size of tax base of reporting tax period;
- providing information to internal (employees and company executives) and external users (tax authorities) to monitor correctness, completeness and timeliness of tax calculation and payment to budget;
- providing company executives with information to reduce tax risks and optimize taxes.
Tax accounting is generalization of information on financial activities of enterprise. This information is collected from relevant documents maintained by accounting system. Following tax accounting options are available:
- Separated from accounting. This option is suitable for large companies, where it is conducted in a special division of organization;
- Based on accounting with maximum approximation of tax and accounting, which implies maximum approximation of these systems;
- Way to adjust accounting data. In tax registers is reflected only difference between data of accounting and tax accounting in those situations when such deviations occur;
- In special tax chart of accounts. This method involves development and introduction of additional tax accounting accounts to working chart of accounts. This method is most optimal and is most often used in small and medium-sized companies.
Independent audit of financial statements and audit services
Audit is independent audit of entity’s financial statements. Procedure is carried out by individual auditor or audit organization. During audit, auditor analyzes accounting, compliance of all operations and correctness of their reflection in reporting documents.
Audit services are useful before significant on-site inspections of tax authorities. It’s important to make sure that activities and accounting of company comply with current standards.
Audit helps to identify all errors and omissions that may entail fines. In addition, audit helps manager to get right idea about organization. This procedure is necessary for any company – from small business to large holding.
Accounting services and audit include:
- identification of errors and omissions in accounting registers;
- assessment of professionalism of company’ employees in tax and accounting areas;
- recommendations for eliminating violations;
- search for promising areas of organization;
- preparation for audit of financial and economic activities.
Information obtained during audit of company is confidential. Using audit and accounting services is safe – this data is not transferred to tax authorities, they are intended only for internal use by enterprise management.
Accounting services from VALEN
VALEN offers to use our accounting services. Our employees will advise you on financial matters and help you draw up necessary documents. We use advanced software that engages cloud technology. This provides visibility, transparency and accessibility of information on current operations, as well as convenience of reporting.
VALEN offers you following services:
- maintaining or restoring company’s accounting and tax records;
- preparation of financial and tax reporting of company within time period established by law in compliance with applicable legal norms;
- responses to requests from tax authorities;
- submission of reporting documents to various authorities, including tax inspectorate, pension fund and compulsory health insurance fund, statistical authorities (Rosstat);
- advice on taxation, accounting, contracting, financial aspects, etc.;
- representing client’s interests in tax or other regulatory and supervisory bodies;
- verification of financial statements.