A few highlights of financial accounting services

An accounting firm can be small to large sized. However, regardless of the company’ size there are some services that all of them provide. These firms are supposed to provide financial record keeping, accounting, auditing, and compliance services to their clients. While some companies specialize in all areas of accountancy others provide a combination of it. Regardless of it, maintaining financial records is one of the most vital aspects of running a business.

The first service that all financial accounting firms provide is record keeping. It allows client business to get knowledge of how well or how poorly the resources are being utilized. Without financial records of inflow and outflow of cash, the business will remain blinded about funds management. Record keeping data provides a clear picture of the organization. The information can be used for finding new opportunities, generating new ideas, and suggestions.

The information prepared by financial accounting firms comes handy when a business needs to spots areas where it lacks performance and key areas that are exhibiting signs of inefficiencies. It also helps in spotting operations that are better off discontinued. Many firms also offer tax compliance services to both individuals as well as businesses. This is quite complex and difficult task and should be left to experts to handle.

It requires complete knowledge of tax related laws and compliance requirements. Professional accountants go through vigorous training regarding how to ensure compliances and meet the deadlines. Their expertise lies in accurately calculating client’s liabilities. Apart from all these, some accounting companies also act proactively and help clients in decreasing future liabilities by using various techniques and planning.

Read More

Hire an Accounting Firm- And Make a Difference to your Business

In the current economic conditions, there has been an extensive change observed across various accounting standards. It is basically due to the rising interest of the shareholders as well as of the regulatory bodies in learning the ways a company reports and communicates its financial status. At the same time, the businesses too need to address the concerns of the stakeholders and bring about changes accordingly. And here is where a financial accounting firm plays a vital role. A proficient firm has an in-depth knowledge of the sector and is fully capable of helping navigate through and resolving financial issues that a business tends to face at any time.

 

The cost of using a financial accounting firm is usually less than the cost of hiring an expert employee. Some of the services that every leading accounting firm in Bulgaria offers to its clients include:

• Financial reporting
• Accounts reconciliation services
• Bookkeeping accounting services
• Write up services
• Invoice processing services
• Manual journal entry services
• Preparing financial services
• Cash flow management services
• Customer order processing services
• Financial analysis services
• Project accounting services
• Virtual accounting services

Outsourcing a reliable accounting firm frees up time to pursue more important value-added and revenue-generating activities. There are various firms in Bulgaria that offer services much beyond accounting and payroll; and such other services include: incubator-type office space for budding businesses; legal and relocation assistance; and staffing assistance, to name a few.

Save cost, focus on integral tasks…Contact a reliable financial accounting firm…and feel the difference…

Read More

Olsen and Partners- A Reputed Accounting Company in Bulgaria

If you are looking for an accounting company in Bulgaria, you can rely on Olsen and Partners, which is a reputed accounting and tax firm.

We are determined to help our clients succeed in their businesses and get maximum profits. We believe in offering the most trusted and cost effective services that help you save a huge amount of money. Like a partner, we help our clients perform to their best level and save a huge amount of money. Olsen and Partners have an edge over other companies. 

We, being a reputed company in Bulgaria, help prospective small business owners start their businesses and manage their accounting and taxes. We ensure that businesses can have enough time and resources to focus on their products and clients. We are a client-focused company that stresses on complete customer satisfaction. Besides helping people build companies, we also help in building products, and creating jobs.

Using our extensive experience and resources, we deliver concise, clear, and intelligent tax and financial strategies. We are deeply committed to our clients and offer them the most efficient accounting solutions. From the initial consultations to throughout our business relationship, we offer thoroughly professional services. Offering personalized services is our priority. Whether you need payroll services, accounting, or taxation services, we help you fulfill the complicated requirements. With our personal approach, we offer the most satisfying services and nurture strong business relationships. You will find our services beyond your expectations. By visiting our website, you can check out how we stand differently than any other competitive company in Bulgaria. 

With our expertise and professional staff support, we help prospective business owners set up company in Bulgaria according to the standard laws and regulations. To know what our clients think of us, check out the testimonials on our website. Rely on us for personal finance management and an array of other accounting services. To know more, please visit www.olsenandpartners.com.

Read More

Common Ways to Create and Register a Company in Bulgaria

If you wish to create a company in Bulgaria, you are required to apply at the Bulgarian District Court for registration at the special Commercial Register kept by the Court. It is from the date of entry that you are authorized to conduct whichever economic activity you wish to commence. The best part is that the Bulgarian government gives the allowance to foreign investors to operate through joint ventures, wholly owned subsidiaries as well as branches in Bulgaria. The business owners/merchants have the following options to create a company in Bulgaria:

• Sole proprietorship: An individual who has a permanent residence in Bulgaria and conducts trading regularly can be a sole proprietor.
• Limited partnership: In this, one or two partners have limited liability.
• Unlimited partnership: All partners are equally liable for the debts of the company.
• Stock Corporation: Atleast two persons are needed to create this legal entity. The capital of the company is divided into shares.
• Public company: A company that makes primary offering of shares or has its shares registered for trading may register as a public company.
• Joint venture: It is jointly formed by a Bulgarian and a foreign partner, and is one of the most common forms of investing in Bulgaria.
• Public limited partnership: In this, the limited partners own stock equivalent to their participation in the company.

Besides the above mentioned ways of getting a company registered, there are a few more, although not very common;

• Branch
• Representative Office
• Limited liability company
• Cooperative
• Holding

For foreign investors, direct ownership of land is prohibited; however, they are permitted to own buildings and have limited rights over immovable property.

Read More

A Professional Outsourcing Payroll Company is the Backbone of a Prospering Business, Bulgaria

There is an array of outsourcing payroll companies in Bulgaria that provide flexible corporate payroll processing, payroll administration and payroll accounting services to various businesses. These services are highly efficient and endeavor towards optimizing the payroll processes, minimizing risks involved, improving the productivity and simplifying the overall payroll administration of the business. Regardless of the type and complexity of the organization, they allow it to focus on customers’ related needs and on a smooth functioning, by and large. Some of the basic payroll services include:

• Registration of the business with the local authorities;
• Gathering employees’ detailed info;
• Preparing tax returns;
• Advising on taxation issues;
• Providing assistance in obtaining work/residence permits;
• Advising on the setting up and handling of provident funds of the company;

Such companies successfully manage the tasks of payroll processing and other calculations that can otherwise be very time and effort consuming. They ensure that the company works in compliance and runs trouble-free. They also help the business identify its key requirements, making the processes much more efficient and effective. In the realistic sense, outsourcing payroll will certainly help the organization achieve a more focused approach, a better control and a higher level of confidentiality.

A reputable payroll accounting services works on a corporate policy that is based on quality, integrity, efficiency, and competency, and which is in full compliance with the EU laws and fair business practices. Such companies are able to operate with investors from all parts of the world.

Besides services enlisted above, other services include: Accounting, Book-keeping, External and Internal Audit, HR Solutions, Corporate and personal Taxation, Offshore Incorporation, Management Consulting and Business Solutions, IT and Virtual administrative services.

So go in for a professional outsourcing accounting and consulting services in Bulgaria, and focus completely on all aspects of your business growth…

Read More

Outsourcing the accounting services is a wise thought

Financial Accounting firms form an integral part of setting up a new company. A financial accounting firm serves the purpose of providing a full fledged financial report pertinent to various issues that lays the groundwork for a healthy economic decision making. This financial report involves important information such as a company’s performance in regards to its clients, investors and creditors. It also includes all the data pertaining to tax returns and tax authorities. Fixed assets reconciliation and cash reconciliation is also an important constituent of the services provided by accounting firms. These firms gain a deep and comprehensive understanding of one’s business to deliver tailor made solutions in accounting and corporate services so that the business can remain solvent and can flourish and prosper. They make sure that a company adheres to all the tax rules and regulations so that it stays away from any legal trouble and fines. These days’ outsourcing the accounting services has become a norm for company owners. Especially if it is a large scale company which has its branches spread in various locations, it is only wise to delegate the accounting and bookkeeping operations to a reputed financial accounting firm. Outsourcing the accounting part of the business process is economically beneficial for these companies. There are many trustworthy and reputable accounting firms who are eager and equipped to serve their clients with a full range of business outsourcing. These firms have high end professional business consultants who are proficient in the field of accounting and bookkeeping.

Read More