What are the bookkeeping agencies?

Basic Task of Bookkeeping Agencies

The basic task of bookkeeping agencies is proper recording of business events or business documentation – in accordance with the Law on Accounting and Audit, as well as other regulations.

Other Tasks of Bookkeeping Agencies

Bookkeeping agencies perform other functions, such as:

• Financial consulting,
• Tax consulting,
• Preparation of the final statement of accounts,
• Plan development, financial analysis,
• Participation in financial and tax inspections,
• Assistance in audit and cooperation with the auditor of the client.

Documentation Handover for Bookkeeping Agencies

According to current regulations, companies are obligated to deliver documentation for entering within three days, and the bookkeeping has additional three days to enter such documentation. However, in practice, companies submit documentation on a monthly or weekly level. Whether the bookkeeper will pick the documentation at client's premises or vice-versa is agreed in the bookkeeping services contract. 

Original documentation is the base for entering. Before you deliver it to the bookkeeper, it is advisable to copy all documentation and form your own archive. Especially, in accordance with the Law on Accounting and Audit, Article 9, bookkeeping document may be in electronic form, which some of the bookkeeping agencies started applying lately. 

Bookkeeping agencies receive such documentation from their clients that presents business changes in the company of the client. This is documentation from client's partners and institutions - received invoices, interest calculation, statements from business banks, and similar. Then, there is also documentation created by the client - issued invoices, payment orders, specifications, sometimes accompanying documentation.