Accounting services for foreign companies: why you need them

Every foreign company operating in Ukraine must work in line with the law and keep accounting and financial records on an ongoing basis. It must also send its reports to the regulatory authorities. To get all this right, you need an accountant. This article explains the benefits of accounting services and why they matter.

Why you need an accountant

An accountant serving a foreign company provides bookkeeping support, ensures compliance with the Tax Code and keeps track of HR records and the non-resident's affairs. In practice, a foreign company needs a specialist to:

• choose an accounting policy and issue an order adopting it;
• develop internal documents and reports;
• keep records from the day the company is registered;
• choose the form of accounting and taxation;
• approve rules for document flow and processing accounting data;
• carry out stock-takes at intervals set by management;
• calculate staff salaries and file reports with state bodies;
• deal with the tax service and state funds;
• prepare the company for inspections and support it through them;
• get advice on business operations and taxation.

So if you want to do business calmly outside your home country, you need accounting services for foreign companies to resolve even the most complex issues quickly and properly. With a specialist's help you can work efficiently and profitably, without financial risks or close scrutiny from the state, and without having to dig into a process that would only give you a headache. Your free time is better spent on growing the business and increasing profit. Getting the result you need without extra stress is always a pleasure, wouldn't you agree?

If your company is registered in Czechia, its books are kept under Czech rules and in Czech. Obligations, deadlines and statutory audit thresholds are covered on our page on Czech s.r.o. accounting and reporting.

A Polish sp. z o.o. keeps its books in Polish and in zloty, with ZUS due by the 15th, CIT advances by the 20th and JPK_V7 by the 25th of each month. Deadlines, KRS filing of annual accounts and audit thresholds are covered on our page on Polish sp. z o.o. accounting and reporting.

A Spanish SL keeps the Diario and Inventarios y Cuentas anuales books, legalises them at the Registro Mercantil within 4 months of the year end, and files IVA and withholding returns quarterly by the 20th. Deadlines, deposit of annual accounts and audit thresholds are covered on our page on Spanish SL accounting and reporting.