ACCOUNTING SUPPORT FOR A BUSINESS (FIRM) IN GERMANY

Accounting support in Germany

Most German companies use the services of external accountants.

What are the advantages of accounting firm in Germany? External accounting service in Germany has one very important advantage – an accounting company can guarantee payment at its own expense of all fines in case of incorrect submission of reports or calculation of payments, issued by the controlling body.

Consulting on accounting in Germany in Ukrainian or Russian will simplify the understanding between you and the accountant, make it more accessible for you to understand German legislation in the field of accounting and taxes.

Features of accounting in Germany: excess income account (Einnahmen-Überschuss-Rechnung) and double accounting (doppelten Buchführung)

• Excess income account – Einnahmen-Überschuss-Rechnung (EÜR)

Accounting is kept in the most simplified form: you only need to register in the EÜR and sum up the income and expenses, and find the difference between them, which will be the profit or loss. Freelancers and private entrepreneurs have the right to apply EÜR, provided that the annual turnover does not exceed EUR 600,000 or the annual profit does not exceed EUR 60,000.

• Double accounting (doppelten Buchführung)

The definition of profit for the annual financial statements is done through the profit and loss (P&L) statement. All business operations are recorded twice on the accounts provided for this purpose or offset accounts. Due to the greater effort involved in this type of accounting, it is only intended for large companies. One of the reasons for this is that the tax office has a much more detailed view of the company’s activities.

The obligation to maintain double-entry bookkeeping depends on the organizational and legal form – OHG, KG, GmbH, AG and GmbH & Co. KG must keep double-entry bookkeeping. Annual turnover or annual profit is also important for the choice of accounting form: you are obliged to keep double-entry bookkeeping if the annual turnover exceeds EUR 600,000 or the annual profit exceeds EUR 60,000, regardless of the organizational legal form.

In Germany, as in most countries, there are three possible accounting options.

• When a director or an individual entrepreneur independently maintains accounting.

In this option, there are practically no advantages, but there are many disadvantages, in particular, lack of time to directly conduct business, making mistakes due to overload and lack of time to monitor all changes in legislation, etc.

• When a German accountant is included in the company’s staff.

On the plus side, it works only for your business, all the focus is on your finances. Of the minuses, it is expensive (a good accountant can cost 3-5 thousand euros per month), it is difficult to find an accountant and it takes a lot of time due to the specifics of various types of business, and there are no universal accountants. If such an accountant falls ill or resigns, you will immediately have problems because it will be difficult to replace him.

• Accounting support (outsourcing) of business in Germany.

There are no disadvantages if the company you contacted is reliable.

Advantages:: due to the large number of accountants of various specializations, we guarantee a low cost, work 24/7, responsibility for all risks of our accountants is borne by our company, perfect knowledge in almost all types of business, collective discussions of complex accounting or tax issues, service in almost the entire territory of Germany .

We provide accounting services in

• Berlin
• Munich
• Cologne
• Frankfurt am Main

Accountant services in Germany include:

• Keeping a tax book of income and fees by an accountant in Germany
• Keeping a trade book for a company in Germany
• Accounting and tax audit of a company (business) in Germany
• Preparation and submission of declarations and reports to regulatory bodies
• Representation of a lawyer and an accountant in the German tax authorities
• Keeping personnel records, calculation of salary, payment of relevant taxes for employees, submission of personnel reports
• Import-export operations (WDT, WNT)
• Preparation of primary documentation on relationships with counterparties
• Verification of personnel and warehouse documentation
• Making bank payments
• Communication with regulatory bodies

Accounting services in Germany are one of the main areas of activity of JK “Prykhodko and Partners”. We clearly understand how German legislation works, we will help you choose the optimal tax system for your business, legal optimization mechanisms, etc.

Accounting outsourcing of companies in Germany is the best option for business owners in Germany. The cost of such accounting support is much lower than maintaining an in-house accountant.