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Accounting services

Accounting as a way how to describe financial situation represents important part of every business. It is not wise to treat accounting just as administration burden only. We are convinced that your accounting should serve mainly to you and your business. It can deliver very important information valuable for business decision-making.

Our clients use most often these services:

 

Accounting Services

Bookkeeping and Tax Evidence

 

Accounting or simple tax evidence are properly processed in our modern robust economic SQL software (ERP), which is regularly backed up in geographically diverse locations and hardware, regularly updated to the latest version and accessible online by our client, if requested. Before we start the posting the first step is the preparation of the opening balance sheet, loading the opening balance into the system, then we discuss with our client the requested structure of financial information (cost centers, activities, locations, employees, chart of accounts, type of transactions etc.). All posted documents, including the originals and printouts, are handed over to our client in the required form and at the required time interval.

Reconstruction of accounting records

 

Not always goes collaboration with external accountant well - the reasons may be insufficient qualifications and experience of accountant, lack of required time, of precision and flexibility or excessive time or cost involved in the cooperation. Whatever the reason is, we are ready to help you not only to take over your current accounts and tax records within a short term period, but also to perform retroactive reconstruction of accounts and tax records. It is not only about an inspection of accounting rules and transaction, searching and correcting accounting errors and inaccuracies, but also about recommendations for more efficient and better accounting so as to reduce administration and to automate routine accounting tasks.

User accounting extensions

 

The basic financial accounting only shows facts that have already occurred and it suffers from lack of management detailed information. For the purpose of effective accounting we use so-called individual user accounting extensions in the form of accounting cost centers, profit centers, projects, affiliates, employees, branches etc., which are defined in the system in the user extensions listings. Accounting records extended for user extensions are then used for preparation of individual user reports and online dashboards so that the client has important financial and non-financial information always at hand.

Financial Statements

 

A fundamental part of our accounting services is account closing and preparation of the annual financial statements (mandatory Czech statutory financial statements - balance sheet, profit and loss statement and notes to the financial statements, report on transactions between affiliated subjects) or preparation of the managerial reports in the form of both Czech standards CZ-GAAP as well as under international financial reporting standards IFRS. Statements might be prepared in various languages​​, if required, and in the required time structure (e. g. monthly or quarterly results etc.).

Preparation for the audit

 

We have long-term experience of participation on local and international financial statutory audits of financial statements prepared in accordance with CZ-GAAP or IFRS or US GAAP. We have our own detailed procedure for the preparation for the audit for the respective members of finance team, we can provide you with detailed timing of pre-audit and audit steps, we can advise you in the matters of preparing underlying information for the posting of yearly closing accounting transactions (accruals, provisions, inventory valuations etc.) and preparation of financial statements, and we can actively participate on and audit as a representative of our client.

 

Documents processing

 

Our aim is the maximum automation of accounting operations while improving the quality, precision and completeness of financial data while reducing the overall time and costs for accounting, which are big benefits for you. Basic services thus include recommendations for changes in the process of documents creation, approving and processing of various documents which have direct or indirect impact on the accounting (order management, invoicing, automated import and export documents in XML format, approval process, electronic documents and signatures, using internal File services and Archive etc.).

 

 

Accounting consultancy

 

As professional consultants we can advise you in the accounting field as well as in related fields such as law, information technology, accounting software, creation and processing of accounting documents, HR issues etc.). Our counseling can relate to both financial and management accounting and to special issues. In cooperation with our partners we can prepare expert opinions in a matters of law, IT and tax advisory. Our advice can take place in an individual form which you as a customer wish (personal meeting in your company, email counseling, preparation of written reports, online counseling via Skype etc.).

Economic software selection

 

We have extensive experience with a large number of Czech and foreign economic systems (ERP). We can advise you in choosing the right economic software for your business and we can even help you to manage this economic software on a regular basis. Please never underestimate the quality and stability of the economic software used because choosing the right software from the perspective of the user ergonomics, capabilities, modularity and openness of this software is an essential precondition for the quality, completeness, correctness and management usability of all accounting records and information.

Preparation of payment orders

 

We can manage your bank orders in a passive mode (preparation of payment orders offline when do not have the right to make payments from your account) or in an active mode when we act as a second authenticator for making required payments. Payment orders are prepared and sent as a pdf documents and as the files in the banking format, which is directly importable into your bank web-based service. By using an electronic format you can greatly reduce the time and efforts required for manual entering of the payment order into the bank system.

Transmission of documents

 

When transferring the originals documents away from the client we primarily use electronic forms of documents (pdf, jpg) or paper originals, to which we add a copy of the printout from the economic system. For the collection of the documents we use a courier service or we collect it personally. When presenting the documents from us to our client we use courier or personal delivery, respectively electronic transmission by e-mail or by means of our internal online archive. We can therefore scan all original documents, if accepted or required by our client.

 

Internal accounting guidelines

 

As an entity that is subject to the appropriate accounting, you have a duty to build and continuously update the internal accounting rules/guidelines that raise standards of accounting operations in your business. We offer preparation of such individual internal accounting guidelines according to CZ-GAAP and Law on Accounting, of charts of accounts and preparation of other accounting information lists or preparation of a job description of the individual members of the accounting and financial departments.

 

Accounting reports and statements

 

We periodically send accounting reports (trial balance, balance sheet, income statement, general ledger, accounting journal etc.) and management reports (summary of sales, margins per products, stock movements etc.) in a way that the client chooses (we prefer electronically in various formats - PDF, Excel, csv, xml etc.) or in a way which is recommended by us. Accounting reports are modified by us directly in the information system based on the customer requirements or based on our recommendations.