Accounting Outsourcing

Accounting Outsourcing

Outsourcing is the transfer of certain processes or separate functions for the performance by another company specializing in this area. In the current Russian business practice accounting services is among the most widespread functions transferred to outsourcing.

In the field of accounting outsourcing we provide the following services:
  • Book-keeping services;
  • Tax accounting;
  • Preparation of financial statements;
  • Payroll processing;
  • HR administration.

Outsourcing Advantages

  • Concentration of management efforts and financial resources in maintenance of primary business processes;
  • Minimization of risks related to realization of non-core business processes;
  • Staff optimization;
  • Operating costs reduction;
  • High quality realization of business process with minimum expenses.

What Does Accounting Outsourcing Include?

  • Collecting and processing of source documents confirming the facts of economic activity, as well as monitoring the correctness of their issuance;
  • Preparation of internal accounting documents;
  • Preparation of the necessary registers of accounting and tax accounting, processing facts of economic activity within them;
  • Payroll processing;
  • Calculation of tax base, taxes and advance payments;
  • Consulting on source documents issuance.
It is also possible to outsource certain sectors of accounting and/or tax accounting (e.g. preparation and submission of financial and tax reporting).

Payroll Processing

Proper calculation and prompt payment of salary and related taxes in compliance with all the requirements of legislation involves engaging of serious financial and human resources by employer together with the necessity for personnel professional competence and skills. The most efficient solution of this task is this process transferring to outsourcing.

HR Outsourcing 

HR processing is a laborious, but an integral part of each company’s activity. HR outsourcing includes the following scope of services:
  • Preparation and maintenance of personal files of employees;
  • Development of job descriptions;
  • Preparation of company’s orders related to HR processing;
  • Staff list and vacation schedule preparation and changing;
  • Maintenance of labor books, accounting of labor books movement, staff ledgers;
  • Timesheets preparation;
  • Typical job agreements preparation;
  • Development of other documents required by Labor Code of the Russian Federation.

For questions on services in the field of accounting outsourcing please contact Elena Bragina, Accounting Outsourcing Department Director.

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