Page 13. News

Well-organised document flow and a sound accounting policy help a company grow. Every business entity in Ukraine needs to keep its books properly and in line with current legislation. The head of a commercial company can decide to set up an in-house accounting department. There is also an excellent alternative: hand financial accounting over to an outside firm (an outsourcing provider). Running a business means filing financial statements with the regulatory authorities. To avoid penalties and losses and to increase profit, it makes sense to bring in professionals. Key Solutions,…

Outsourced accounting means a third-party firm keeps a company's accounts and prepares its reports under a contract. The Law of Ukraine "On Accounting and Financial Reporting in Ukraine" (Закон «Про бухгалтерський облік та фінансову звітність в Україні») expressly allows this: Article 8 lists accounting kept under a contract by a firm operating in accounting and/or audit as one of the lawful ways to organise a company's accounting. Does the law allow a company to hand its accounting to an outside firm? Yes. Outsourcing is one of the four forms of organising accounting expressly…

Under Ukrainian law, the head of a company is responsible for organising and keeping its accounting records. Only the head of the company can decide whether an in-house accountant is needed or whether the bookkeeping can be handed to an outside specialist. Whether you need an in-house accountant depends on several factors: the size of the company; the nature of its business; its financial resources; the volume of transactions. In-house accountant: hire or not? Newly registered companies that are just starting out…

Key Solutions offers a full range of accounting services for restaurants, cafés, bars, coffee shops, pubs, pizzerias and other food service businesses. This sector used to be called "public catering"; current Ukrainian legislation calls it the restaurant industry (ресторанне господарство). Accounting in this industry has its own specifics and can follow one of two approaches: treating the business as a manufacturer or as a retailer of goods. Outsourced accounting services help cut the cost of keeping an in-house accounting team. Our specialists provide high-quality,…

If you have set up a company but know little about accounting, and hiring an in-house accountant is too expensive for a start-up, there is a simple answer: outsource your company's accounting in full. Many successful companies rely on outside specialists all the time and thrive. They no longer have to think about the books and can focus on growing the business, opening new branches and investing in marketing. Hiring staff for the office, supervising them and building department after department is an outdated strategy. Just think how much you can save on rent, software, computers and…