Accounting and Bookkeeping Services in Ukraine

If you are considering outsourcing your finance and accounting function choosing the right bookkeeping firm is of primary importance. Having chosen such partner, you hire not only bookkeeper, HR manager, but also a reliable consultant, analyst, and legal expert. We strongly believe that accountant may not be purely a cost item in P&L, but a valuable asset to your business. Perfect advisers are those who engage into clients’ business, devote itself against their problems, analyzing the situation, foresee risks rather than just acknowledge them.

Financial accounting services is our strategic activity so we pay much attention to its development and automation which helps us be more efficient, effective and hence, affordable. We strongly believe that outsourcing must be solution for cost saving and compliance with local regulations. Our accountants regularly attend workshops, trainings, seminars, foreign languages courses. They are encouraged studying International Financial Reporting Standards (IFRS, IAS) together with Code of Ethics and Professional Behavior; therefore are obliged to take the ACCA courses. All the expenses are reimbursed by our bookkeeping firm.

The Kyiv Accounting Group provides a full scope of accounting services, such as follows: 

  • professional bookkeeping services, including payroll calculation and HR management;
  • financial (statutory) reporting in accordance to national and international reporting standards (IFRS, US GAAP);
  • reconciliation between local standards and IFRS;
  • preparation of customized management reports line with parent company requirements;
  • account payables, account receivables services, treasury and banking;
  • reconstruction of financial accounts, records, documentation. 

Bookkeeping services in Ukraine

Under accounting services mean bookkeeping, preparation and filing of financial (statutory), tax and statistical reports for Ukrainian and foreign companies, their subsidiaries or representative offices in Ukraine, non-resident individuals or just to a small business. It also covers work with primary documentation (its sorting, storage), banks, journals, general ledger, clients` counterparts, liaising with external auditors, internal controllers, etc. We do our best for you not west time on different financial accounting issues but rather focus on development your core activity.  

Our main focus is on rendering professional, affordable bookkeeping services for start-ups, small, medium-sized international business and representative offices in Ukraine. We have extensive experience in different sectors of economy, namely: IT, pharmaceutical, renewable energy production, wholesale, retail, construction and many others.

Reconstruction of financial accounts 

Life is unpredictable. Your company may lose all financial information because of a computer virus, human error, or someone intended actions. We support clients with reconstruction of relevant information, using submitted reports, reconciliation acts, and other available data. We cannot guarantee to restore all the documents lost, but after the reconstruction work, bookkeeping documentation, accounting registers and tax reports will be prepared in order management, or other stakeholders, to make a decision and use it whenever they see fit. It will also reduce potential problems during tax authority audit. 

Accounting outsourcing for “large companies”

There new rules for “large firms” come in force since January 2019. If company’s total income for the year exceeded 40 million euros, its net assets cost is more than 20 million euros, employees number exceeds 250 individuals, such company is obliged to maintain an accounting records in accordance with IFRS and create an accounting department headed by a cheaf accountant. These changes make almost impossible cooperation between bookkeeping firms with “large business”. 

Kyiv Accounting Group provides bookkeeping services for “large companies” with the introduction of its specialist as an in-house accountant, therefore full legal compliance will be adhered.   

Accounting service agreement

Enterprises should pay proper attention when dealing with bookkeeping service contract. It should state comprehensive list of works it covers, services fees and conditions for its revision, parties’ rights, responsibilities and the possible compensation amounts for damages, termination terms. Accounting is very sensitive area, thus an agreement should include non-disclosure clause as well. 

Should you be interested in affordable financial accounting services in Kyiv or have any associated questions, please feel free to contact us so our experts will consult you free of charge.