Accounting Outsourcing
Subscription-Based Accounting Services for Sole Proprietors (FOP) and Limited Liability Companies (LLC)
Subscription-based accounting services are a form of collaboration between a company and an outsourcing firm, where accounting services are provided on a regular basis for a fixed monthly fee. This is a convenient option for businesses that want to ensure continuous and uninterrupted accounting without the need to maintain an in-house team of accountants.
Services Provided under Subscription-Based Accounting Services:
Accounting Management:
- Registration of all business transactions (revenues, expenses, assets, liabilities).
- Accounting for fixed assets, inventory, and intangible assets.
- Maintaining accounting records.
Preparation of Financial Statements:
- Compiling balance sheets, income statements, cash flow statements, and other financial documentation.
- Analyzing financial indicators and preparing analytical reports.
Tax Accounting and Reporting:
- Preparing and submitting tax declarations to government authorities.
- Calculating taxes, tax planning, and optimizing tax expenses.
- Interacting with tax authorities during audits.
Payroll Calculation:
- Calculating employee salaries, taking into account all taxes, fees, and other deductions.
- Preparing and submitting payroll reports.
Consulting Services:
- Providing advice on accounting and tax matters.
- Offering informational support regarding legislative changes that impact accounting.
Preparation and Submission of Statistical Reporting:
- Preparing reports for state statistics authorities, as required by law.
Cost of Subscription-Based Accounting Services
The cost of subscription-based accounting services depends on several key factors and can vary significantly based on the specific needs of the business. Typically, the cost is calculated individually for each client.
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Small Business or Sole Proprietor (FOP):
Usually includes basic services such as accounting management, preparation and submission of reports, and tax calculations. The service cost is:
- For sole proprietors (FOP) under a single tax - starting from 1,000 UAH/month
- For LLCs under a single tax - starting from 8,000 UAH/month
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Medium-Sized Business:
Typically includes basic services such as accounting management, preparation and submission of reports, tax calculations, tax invoice registration, payroll calculations, etc. The service cost is:
- For LLCs under the general taxation system with VAT (up to 40 million UAH/year) - starting from 10,000 UAH/month
- For medium-sized companies with a larger number of transactions, employees, and a need for a wide range of services, the cost can range from 15,000 UAH/month
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Large Business:
For large enterprises where transaction volumes are significant, and specialized accounting services may be required (e.g., foreign economic activity accounting, complex tax calculations, unblocking tax invoices, tax optimization and planning, etc.), the cost may start from 20,000 UAH and above.
Advantages of Accounting Outsourcing
Collaborating with an outsourcing company can be particularly beneficial for small and medium-sized businesses, allowing them to reduce costs, access professional services, and improve financial management efficiency. Additionally, it offers a range of advantages that can be attractive to many enterprises.