Outsourced accounting is bookkeeping, tax accounting, payroll and reporting run by an external firm under a service contract. Key Solutions keeps the books of Ukrainian companies, sole proprietors and representative offices of foreign companies in Kyiv and remotely.
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In short
- When you need it: there is no in-house accountant, your accountant is leaving, or the business registers for VAT or starts foreign trade.
- What you get: monthly bookkeeping, tax and payroll calculations, reports filed on time and replies to tax authority requests.
- Start date: set after an accounting review of open periods and fixed in the contract.
- Cost: depends on monthly documents and bank transactions, tax regime, VAT, headcount and foreign trade.
- Where to start: book a consultation and give your tax regime, headcount and approximate documents per month.
Accounting outsourcing in Ukraine: service formats
Ukrainian law lets a company keep its books through an accounting or audit firm under a contract, on equal terms with an in-house accountant (Art. 8(4) of Law No. 996-XIV, the Law "On Accounting and Financial Reporting in Ukraine" (Закон № 996-XIV)). We work in three formats, which can be combined:
| Format | Who it suits | What we do |
|---|---|---|
| Full outsourcing | Companies and sole proprietors without an accountant | Keep the books, calculate taxes and payroll, file reports |
| Support for your accountant | Companies with their own accountant | Review reports before filing, take over complex areas |
| One-off projects | Before a change of accountant, a tax audit or a deal | Restoration, set-up of records, IFRS conversion |
Some cases have their own pages: accounting for an LLC, accounting for sole proprietors (FOP) and accounting for importers and foreign trade.
Foreign-owned companies and representative offices
The Law on Accounting applies to legal entities registered in Ukraine and to branches and representative offices of foreign legal entities, so a representative office keeps its books and files reports in Ukraine like a local company. Where the owner reports to a parent group, the Ukrainian ledger also has to give figures the group can consolidate. For these clients we provide accounting for representative offices and IFRS conversion of financial statements.
What is included
- Source documents, bank statements, synthetic and analytical ledgers.
- Tax accounting based on source documents and ledgers (clause 44.1 of the Tax Code of Ukraine (ПКУ)).
- Financial and tax reports, filed within the deadlines.
- Payroll, single social contribution (ЄСВ), timesheets and HR orders.
- VAT: tax invoice registration, risk monitoring and unblocking of suspended invoices.
- Inventory counts, including the count before the annual financial statements.
- Replies to State Tax Service (ДПС) requests and documents for audits, within the contract scope.
How we work
- Accounting review Balances, open settlements, source documents and filed reports for open periods.
- Contract and scope Accounting areas, the monthly handover date, report signing and each side's liability.
- Handover under an act We take over the database, ledgers and documents from the previous accountant.
- Monthly bookkeeping and taxes Documents and bank posted, taxes, ЄСВ and payroll calculated, payment orders prepared.
- Reports and deadlines Tax, financial and statistical reports filed, ДПС requests answered.
Timing and filing deadlines
Accounting in Ukraine runs without breaks from registration to liquidation (Art. 8(1) of Law No. 996-XIV), so we set the switch-over date so that one party prepares the reports for each period. If the review shows gaps, we propose accounting restoration first. Main deadlines:
| Report | Deadline | Basis |
|---|---|---|
| Monthly tax return | 20 calendar days after the month | subcl. 49.18.1 Tax Code |
| Quarterly tax return | 40 calendar days after the quarter | subcl. 49.18.2 Tax Code |
| Annual corporate income tax return | 60 calendar days after the year | subcl. 49.18.6 Tax Code |
| Annual financial statements | Micro and small: 28 February; medium: 1 June, with balance sheet and income statement by 28 February | cl. 5 Procedure No. 419 |
What affects the cost
| Factor | Effect on workload | What to prepare |
|---|---|---|
| Documents and bank | Each document and transaction is processed monthly | Approximate monthly volume |
| Tax regime and VAT | VAT adds invoices, a return and risk monitoring | Single tax group or general regime, VAT status |
| Employees | Payroll, taxes and HR orders for each person | Headcount and civil-law contracts |
| Foreign trade | Customs declarations, exchange differences, non-resident settlements | List of foreign trade contracts |
One-off work such as restoration or IFRS conversion is quoted separately. We give the price after the review and fix it in the contract.
What we need from you
- Registration documents and the accounting policy order, if you have one.
- Access to the accounting database or an export for the last year.
- Filed reports and ДПС acknowledgements for open periods.
- Bank statements and contracts with main counterparties.
- An agreed procedure for signing reports with a qualified electronic signature.
- A contact person who hands over documents each month by the agreed date.
What you get
- Filed tax, financial and statistical reports with acceptance receipts.
- Tax calculations and payment orders before each deadline.
- Payroll, ЄСВ and employee reporting.
- Ledgers and the database, handed back under a signed act when the contract ends.
Get a quote for accounting support
Tell us your tax regime, headcount and approximate documents per month. We will reply with the format, scope of work and cost.
Legal basis
Rules the work relies on
- Arts. 8 and 11 of Law No. 996-XIV: outsourced accounting, who signs the financial statements, the director's responsibility.
- Arts. 44 and 49 of the Tax Code: accounting based on source documents, retention periods, filing deadlines.
- Clause 5 of Procedure No. 419 (Порядок № 419): financial statement deadlines.
- Arts. 120 and 121 of the Tax Code and Arts. 163-1 and 164-2 of the Code of Administrative Offences (КУпАП): liability for late reports and accounting breaches.
Risks, and the case for a contracted team
A late tax return costs UAH 340 per case and UAH 1,020 for a repeat within a year (clause 120.1 of the Tax Code); under martial law the fine is waived only if timely filing was demonstrably impossible and the return follows within 60 days after that possibility returns or six months after martial law ends (subclause 69.1, subsection 10, Section XX). Officers face fines of 8 to 15 non-taxable minimum incomes for missing or improperly kept accounting (Art. 164-2 КУпАП). Tax reassessments and late-payment interest come on top.
Problems most often appear when the accountant changes: the database is missing, documents are lost, reports do not match the ledger. Errors we find are corrected with an amended return (Art. 50 of the Tax Code), free of penalty and interest under martial law (subclause 69.38). The director stays responsible for accounting (Art. 8(3) of Law No. 996-XIV), so our contract fixes scope, deadlines and liability, and tax disputes go to the group's lawyers at legal.ua.
Why Key Solutions
- Turnkey, with no extra hassle
- We take the whole task: documents, calculations, reporting and correspondence with the State Tax Service. You make the decisions, provide source documents and sign; we do the rest and contact you only when it matters.
- We take on the tax office
- Information requests, blocked tax invoices, inspection reports: we prepare explanations, rework documents and appeal until the issue is closed. Where the law is in dispute, we work together with the group's lawyers.
- We see it through
- Your case stays on track: the specialist running it remains with you, even if an inspection or audit drags on for months. Statutory audits are performed, and the report signed, by a partner audit firm entitled to perform them; we handle preparation and support through publication, so you deal with one team from start to finish.
- Boutique-level involvement
- A senior specialist runs your project personally (see the Our employees page), backed by 14 years of Innova group practice in 50+ countries. Non-standard tasks are our field: where you hear “it can’t be done”, we look for a lawful way, and group companies cover the rest: legal.ua for legal matters, crystal.tax for crypto-asset taxation.
- Your affairs stay yours
- Information about your company, turnover, payroll and counterparties reaches neither competitors nor third parties. We disclose only what the law or a procedure requires, and the contract says so.
- Faster and right the first time
- Full involvement: your specialist learns your books, contracts and business, so documents and reports are ready on time with no rework. The group's 14 years of experience let us get right the first time what takes some firms three attempts.
Frequently asked questions
What does outsourced accounting in Ukraine include?
Outsourced accounting covers source documents and bank statements, tax and payroll calculations, filing of tax, financial and statistical reports, and replies to State Tax Service requests. The accounting areas, the monthly document handover date and the contractor's liability are set out in the service contract.
Can a foreign-owned company or representative office outsource its accounting in Ukraine?
Yes. The Law on Accounting covers legal entities registered in Ukraine and branches and representative offices of foreign legal entities, and it allows the books to be kept by an accounting or audit firm under a contract (Art. 8(4) of Law No. 996-XIV). We serve such clients in Kyiv and remotely.
How do we switch from an in-house accountant to outsourcing?
The switch starts with a review of open periods: balances, settlements, source documents and filed reports. We then sign the contract and take over the database, ledgers and documents under a handover certificate, on a date agreed so that one party prepares the reports for each period.
Who signs the financial statements if an outsourcing firm keeps the books?
The client's director or an authorised person signs together with the head of the accounting firm or its authorised person (Art. 11(1) of Law No. 996-XIV). The firm's liability is defined by law and by the accounting services contract, so the scope of obligations should be written out in detail.
How long must source documents be kept in Ukraine?
Companies keep source documents, ledgers and financial statements for at least 1,825 days, documents for transfer pricing, CFC and non-resident payment controls for 2,555 days, and other documents, including those of sole proprietors, for 1,095 days (clause 44.3 of the Tax Code).
What does the cost of accounting services depend on?
The cost follows the monthly workload: the number of documents and bank transactions, tax regime, VAT status, headcount, foreign trade and currency operations. One-off work such as restoration, IFRS conversion or tax audit support is quoted separately. We give the price after reviewing your accounts.
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Let's discuss your accounting
Give your legal form, tax regime, headcount and approximate documents per month. We will reply with a service format, scope of work, start date and cost estimate.
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