As corporate accounting is closely regulated and the requirements vary depending on the size of the company, several companies let accounting firm handle the accounting. Accounting is normally done on the same basis as company’s vat period. The financial period of the company is normally 12 months, and after the financial year is over, the financial statements are prepared.
Accounting is based on receipts. Receipts include sales and purchase invoices and receipts, bank statements and payroll receipts such as payslips and travel expense invoices. The accounting firm makes the records based on these receipts in accounting. You can co-use an accounting systems to handle receipts and sales and purchase invoicing with the accounting firm. You can add receipts on the go and this way these are always saved. If your company has employees, the accounting firm can take care of payroll and help you with the human resources such as employment contracts, insurances and laws and collective agreements of the industry.
The accounting firm produces financial reports based on accounting. These reports include income statement, balance sheet and their notes. Large companies are obligated to produce detailed annual reports about risks and actions. These can be produced by the accounting firm too. The financial statements include dates and signatures of the entrepreneur or Board of Directors and CEO depending on the form of the company. If certain limit values are exceeded the financial statements and accounting must be audited by chartered auditor. The accounting firm co-operates with the auditor and the entrepreneur through the audit.
Company pays VAT and income tax based on company’s performance. You can give a mandate to the accounting firm to file VAT and provide an income tax return to Tax Administration. The accounting firm will help you to find the best policies to handle your company’s finances so you can concentrate on your business.
Though, accounting firm handles the recording of the receipts and takes care of the VAT filing and tax returns, you will get guidance through the business lifecycle whether it is budgeting, buying a business or making contracts.
If you need any more information, please don’t hesitate to contact us to financial specialists of Tietomylly.
Contact Information
Elmeri Linnera, CEO
Phone: +358 40 352 4728
Email: elmeri.linnera@tietomylly.fi
Address: Kankaistentie 4, 51200 Kangasniemi
Elina Lahikainen
Phone: +358 40 485 9580
Email: elina.lahikainen@tietomylly.fi
Address: Maaherrankatu 26, 50100 Mikkeli