Accounting for travel agencies and tour operators

Published 12 March 2020. Some rules have changed since; ask us for the current position.

Despite the difficult situation in Ukraine, tourism keeps growing. Accounting for tour operators is one of our most requested services. Tourism has many specific features that only accountants who have previously worked for travel companies are familiar with. We are ready to help with bookkeeping and with dealing with the tax authority, banks, counterparties and clients. We can provide both accounting and legal services, draft contracts and monitor compliance with every clause.

Accounting specifics in tourism

Travel agencies act as intermediaries, so all their business is built on agency principles. Accounting for tourism services in Ukraine has a number of specific features. For example, the intermediary's income is its agency fee. Money paid into the agent's account does not belong to the agent: it belongs to the tour operator, and how it is handled is set out in the agency agreement. The amount of the agency fee is confirmed by a certificate of services rendered. The report and the certificate can be a single document or separate ones.

So an accountant who has previously worked in another industry may find all this hard to get to grips with. If you hire accounting staff, be prepared to train them. Key Solutions offers travel companies a convenient way to outsource their accounting.

What you get:

lower office rental costs;
no accountant's salary to pay or taxes to withhold from it;
a lower risk of accounting errors;
reports filed regularly;
preparation for tax inspections;
effective dealings with the Pension Fund of Ukraine and the statistics authorities.

We free up your business for other important goals: growth, development, innovation and becoming more attractive to investors. As a result, the company gains and works far more efficiently, and you can focus on its future development. We help travel companies keep their books both in Kyiv and in other cities of Ukraine. Whatever your legal form or tax regime, we provide a full package of accounting services for tourism businesses.