ACCOUNTING SUPPORT FOR A BUSINESS (FIRM) IN ROMUNIA

Accounting outsourcing of companies in Romania is the best option for business owners in Romania.

The cost of such accounting support is much lower than keeping your own accountant on staff.

Accounting support of activities in Romania

Most Romanian companies use the services of external accountants. An accounting firm in Romania, what are the advantages of working with it? External accounting service in Romania has one very important advantage. Such an accounting company can guarantee, in case of incorrect submission of reports or calculation of payments, payment at its own expense of all fines issued by the controlling authority.

A Ukrainian- or Russian-speaking accountant in Romania with knowledge of the Romanian language, in particular in such cities as Bucharest, Iasi, Galati, Constanta, and others, is our advantage over other accounting companies.

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

Accounting in Romania

Romanian law requires mandatory financial reporting. Submission deadlines are quarterly. A balance sheet, a profit and loss statement, and a cash flow statement are provided. There is a simplified submission form. A full report is required for companies that meet at least two of the three criteria: balance sheet currency of more than EUR 3,650,000; the volume of sales exceeds 7.3 million euros; more than 50 employees.

In Romania, 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 in connection with overload and lack of time to monitor all legislative changes, etc. In addition, you should be noted that all reports are submitted in Romanian, which can also cause additional difficulties if the manager is a non-resident.  

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

On the plus side, it works only for your business, the entire focus is on your company and its finances. Of the minuses, it is expensive, at least 1 thousand euros per month, an experienced accountant can cost 3-5 thousand euros per month. It is necessary to find an accountant for the company’s staff, it takes a lot of time due to the specifics of various types of business, and there are no good universal specialists, if such a specific accountant gets sick or resigns, you will immediately have problems with his replacement.

• Accounting support (outsourcing) of business in Romania.

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

On the plus side, due to the large number of accountants of various specializations, we face a lower 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, the service is designed to implement activities throughout the territory of Romania.

In more detail about the last point, we provide accountant services in Romania, in particular in Bucharest and other cities

Accountant services in Romania include:

• Our accountants in Romania use the latest software.
• Accounting and tax audit of a company (business) in Romania.
• Preparation and submission of reports to tax and control authorities.
• Representation of a lawyer and an accountant in the tax authorities of Romania.
• Declaration – preparation, verification and submission to regulatory authorities.
• Personnel accounting, payroll, payment of relevant taxes for employees, submission of personnel reports.
• Import-export operations.
• Preparation of invoices and invoices.
• Making bank payments.
• Communication with regulatory bodie

Preparation and restoration of primary documentation in Romania

• production of primary documentation on relationships with counterparties
• restoration and verification of personnel documentation
• warehouse documentation

Conclusion on accounting in Romania

One of the main areas of activity of Pryhodko and Partners LF, we clearly understand how Romanian legislation works, we will help you choose the optimal tax system for your business, legal mechanisms for optimization and management.