How does an external accounting office contribute to improving its customers' profits?
Can an external accounting office be a way to save money in the company?
Can I not pay my taxes? What can be included in the costs? Where to get money and not return? And how not to go crazy with all this?
Businesses, especially in the SME sectors, are looking for different ways to increase the value of the enterprise or increase profitability. One of them is the resignation of an accountant in favor of entrusting accounting and financial matters to an external company.
What does it entail?
Outsourcing of accounting services is a solution that not only reduces costs, but also generates profits. First of all, it is worth paying attention to the fact that in the light of changing regulations, the experience of a professional accounting office is important for every entrepreneur. The costs associated with improper fulfillment of certain obligations towards institutions such as ZUS or the Tax Office can be huge. The accusation of unreliable bookkeeping usually results in a fine or imprisonment for up to 2 years, or even both penalties jointly. The situation is similar in the case of failure to prepare the financial statements or their preparation contrary to the provisions of the Accounting Act, or including unreliable data in them.
Why is it worth considering the right choice of an external accounting office?
While in the initial phase of activity, keeping your own accounts seems to be possible, with the development of the company it becomes ineffective, and additionally may be risky. According to Rzeczpospolita, it has been calculated that a small entrepreneur should spend 3 hours and 53 minutes a day in order to be up to date with changing legal regulations. Employment of an accountant in a separate position in a small enterprise generates significant costs of remuneration along with receivables for the Social Insurance Institution or the Tax Office. Therefore, a better solution is to entrust such tasks to specialists from an external accounting office. How to find them? You can refer to the experiences of friends or search for a service provider that interests us, paying attention to opinions and checking his experience and knowledge of your industry. In addition, it is worth paying attention to the diversity of competences of the accounting and HR team, so that the selected office is able to help in any situation. Thanks to this, it is possible to make a selection at the very beginning and choose accounting services that will provide high-class services, while ensuring your tax security and a stable increase in profitability, optimizing taxes in accordance with applicable regulations.
In the case of an external company, fees for accounting services are determined depending on the scope of activities to be performed for the company. An additional advantage of such a solution is the fact that professional accounting offices are based on current regulations, often specialize in a selected industry and gather several experts in one place, and also play an advisory role, suggesting optimal solutions that can bring tangible benefits to entrepreneurs in the form of savings or an increase in revenues from the conducted activity.
Another important advantage resulting from cooperation with an accounting office is also the issue of financial security. By signing a cooperation agreement with such a company, we can be sure that in the event of financial consequences due to errors made by the office, we will get reimbursement of these costs under the third party liability insurance policy. As it results from the provisions of the Act of September 29, 1994 on Accounting, the accounting office is obliged to purchase civil liability insurance under penalty of a fine or restriction of liberty (Art. 76h). The standard, obligatory third party liability policy covers only the costs of any errors related to bookkeeping services up to the amount of EUR 10,000. It is therefore worth paying attention to the fact that the selected office has an extended insurance policy with: human resources, tax consultancy, as well as an amount higher than the standard EUR 10,000. The size of the accounting team is also very important. First of all, one should avoid one-person companies, because life is not always kind to us. You have to ask yourself what further problems could arise, e.g. with the recovery of documents, if something happened to such a person and we suddenly lost contact with him. With offices of several people, such a problem does not exist and there will be no inconvenience due to vacation or absence of an accountant due to illness, because her duties as a replacement are taken over by another member of the team.
Accounting services in Poland
It turns out that the outsourcing of accounting services is a very popular solution among Polish enterprises. As many as 72% of entrepreneurs use the services of accounting offices, while only 8% of enterprises employ a full-time accountant. There is also a relatively high percentage of companies that handle accounting and financial matters on their own using available software (16%). On the other hand, entrepreneurs rarely use a spreadsheet (2%) or online accounting (2%) for accounting.
How popular is the service of entrepreneurs by external accounting offices is evidenced by the continuous upward trend in the number of companies providing accounting services.
Cooperation with an external accounting office brings not only real benefits in the form of savings and higher profits, but is also a convenient and safe solution. An entrepreneur does not have to keep abreast of changes in regulations or bear the consequences of any mistakes of an employed accountant, but he can focus on the proper issue, which is the development of his company, leaving accounting matters to professionals.
To sum up, an external accounting office will contribute to generating profits for its clients through professional and skillful tips on forms of tax optimization. Thanks to the professional advice of specialists from an external accounting office, entrepreneurs will find out which taxes should be paid and which can be reduced. As can be seen from the above, choosing the right accounting office can significantly contribute to the real increase in your company's profits.
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