Accounting and tax legislation often undergo frequent changes, and business owners may not always have the time or expertise to track these updates or delve into their complexities. However, maintaining proper accounting records is mandatory, and tax reporting must be submitted on time. While it’s possible to hire accountants and establish an in-house accounting department, this can be a costly solution. A more practical alternative is outsourcing your accounting needs. By choosing our company, you can access comprehensive accounting services in Armenia.
This service is far more efficient than maintaining your own accounting team:
- Finding competent accounting staff independently can be challenging, especially as business owners or HR departments may lack the expertise to assess candidates’ qualifications effectively.
- In large companies, accounting becomes increasingly complex, necessitating a larger team, higher software expenses, and other costs.
- In businesses with seasonal operations, the workload of the accounting team fluctuates significantly, making it impractical to maintain a full-fledged department during periods of reduced activity.
Comprehensive accounting services in Armenia allow businesses to adopt the most advanced solutions, including automation, while significantly reducing related costs.
We also assist with remote registration of sole proprietorships (SP) and limited liability companies LLC in Armenia, tax registration, and ongoing accounting management.
When is outsourcing accounting in Armenia beneficial?
- When the company cannot establish its own accounting department for objective reasons, or doing so is economically unviable.
- If accounting is poorly organized, resulting in frequent complaints from contractors due to document errors.
- When tax inspections or other regulatory authorities consistently impose fines following audits.
- If the company has experienced multiple chief accountant changes over several years and requires a complete review of its accounting records.
- When the business expands into new activities and needs accountants with specific expertise.
- For systematic consultations with external experts, making it easier to engage them on a regular basis.
- When the business is scaling up, opening new branches, or expanding staff significantly.
How accounting services can be organized
Accounting services in Armenia can be tailored to meet the specific needs of your business, depending on:
- The size of the company.
- The legal structure of the enterprise.
- The variety of business activities involved.
Sometimes it is practical to engage specialists on a one-time basis. However, other approaches include:
- Contracts for specific services
- This may include maintaining tax records or submitting reports. Meanwhile, company employees handle primary documentation and other tasks.
- Comprehensive accounting services
- This approach involves outsourcing all accounting functions, including processing and managing primary documentation.
- One-stop service model
- In this setup, clients have a dedicated accountant for all their accounting-related inquiries.
- Additional services
- Our specialists not only manage accounting tasks but also represent your interests before tax authorities and other regulatory bodies.
The exact scope of services is detailed in the outsourcing contract signed with our company.
How to transfer accounting to outsourced services in Armenia
After signing the contract, the following steps are necessary to transfer responsibilities to the new accountant or manager:
- Request the login credentials from the previous accountant for access to the tax system to verify report submissions and tax payments.
- Cancel any existing access to banking programs and accounts granted to the former accountant. If a power of attorney was issued for banking operations, it should also be revoked.
- Issue a new power of attorney to the accountant who will manage your company’s accounts.
- Inform the tax authorities about the change in accountant.
Our Advantages
- We handle all routine tasks that previously distracted you from your core activities, including communication with banks and tax authorities.
- Our specialists guarantee confidentiality and a high level of cybersecurity, ensuring that all data is securely protected and accessible to you.
- We maintain records in compliance with current legislation and align with the company’s internal accounting policies.
- Our team works on a principle of mutual substitution, so you don’t need to worry about someone being unavailable due to illness or vacation.
Why choose us?
Partnering with us ensures complete transparency in financial flows and reporting, strengthening your company’s reputation. It becomes easier to convince banks to approve new loans, and tax authorities are less likely to scrutinize your business. We also handle all communication with these institutions and can represent your interests during field or desk audits if needed.
To learn more about our services, call us or leave a request on our website.