Accountant for FOP

You need a specialist who performs accounting and reporting for an individual entrepreneur. He can be a full-time employee or work on outsourcing. What method of accounting is chosen by the entrepreneur himself, depending on the volume of work and financial capacity.

Staff accountant

The full-time accountant works in the staff of the FOP and performs all duties related to accounting and reporting. He is responsible for:

• Accounting in accordance with the legislation of Ukraine.
• Preparation of reports for tax authorities.
• 
  Preparation of reports for tax authorities.
• Performs other work that is provided for by job duties.

Outsourced accountant

An outsourced accountant is a specialist who provides accounting services to a private enterprise under a contract. He can perform similar duties as a full-time accountant and, if necessary, provide advice and guidance on accounting and taxation issues.

Advantages of accounting outsourcing for FOP

Accounting outsourcing has a number of advantages for sole traders, including:

• Accountant for FOP is saving time and money. You do not need to hire a full-time accountant and provide his workplace.
• Reducing risks. The FOP can be sure that its accounting and reporting will be conducted in accordance with the law.
• Improving work efficiency. The FOP can focus on its business, and entrust accounting issues to professionals.
• All working points can be discussed and, if necessary, included in the accounting outsourcing agreement.

Disadvantages of accounting outsourcing for sole traders

Accounting outsourcing also has some disadvantages, including:

• The need for trust. The FOP must trust an accounting company that will keep its accounting and reporting. Therefore, when choosing an accountant for outsourcing, you need to choose a company that has been working on the market for more than one year.
• Impossibility of control. The FOP cannot fully control the work of the accounting company.

Choosing an accountant for an FOP

When choosing an accountant for a sole proprietorship, the following factors must be taken into account:

• Experience and qualifications of an accountant.
• Reputation of the accounting company.
• Reviews of other people who used similar services.
• Cost of services.

It is also important to conclude a contract with the accounting company, which will specify all the conditions for the provision of services, the scope of work to be performed by the accountant and other nuances depending on the type of activity of the FOP.

General recommendations

For sole proprietorships that are just starting their business, it may be advisable to hire a full-time accountant. This will allow the FOP to receive the necessary consulting support and ensure compliance of accounting and reporting with legislation.

For sole proprietorships that run a complex business or have a large number of operations, it may make sense to use the services of an outsourced accounting firm. This will allow FOP to save time and money, as well as increase work efficiency.

If you need an accountant for a sole proprietorship, feel free to contact our company. After all, the professionalism of an accountant is the key to the success of any company.