Accounting services

Accountancy is measuring the performance of an enterprise and transmit this information to different users, including investors, creditors, management and regulators. Accounting is comprising the storage and preparation of financial statements, analysis, verification and reporting of recordings, interaction with various financial and fiscal institutions and many other activities.

Accounting is really important when starting a new business - it provides to entrepreneurs the clearest picture of their business successes and opportunities. A good accountant is saving time and money and is taking care of piles of financial documents.

If you want your business to run fast, smart and efficient, good accounting services are crucial and are a wise investment. Companies with VAT registration, need to report accounts every month.

There are two approaches to VAT - registration under the VAT Act in Bulgaria - mandatory and optional. Mandatory registration is required when the taxpayer reaches the taxable turnover of BGN 50000 or more for a period no longer than 12 consecutive months. A subject of VAT - registration is also any taxable person who is not registered on other grounds and is performing intra-Community acquisition of goods and services and/or intra-Community supply of goods and services.

VAT - registration becomes mandatory when the total value of taxable intra-Community acquisitions for the current calendar year exceed BGN 20000. VAT registration might be optional - upon request (even in cases where taxable turnover is less than BGN 50000). Either way, a good accountant is needed - to prepare financial statements and other documents, required by the National Revenue Agency. The VAT - registration (compulsory or optional) takes about two weeks.

What makes our accounting offer stand out is that you pay only for what you use. You are only charged an amount based on the number of processed documents each month – NO additional fees for VAT handling, annual closing of accounts, preparation annual tax return and annual financial reports – all is included in our document-processing fee. Dormant companies and such with less than 10 documents per month pay only the minimum accounting fee.

Also, we offer you a full spectrum of Payroll services at equally attractive terms.

The management of Business Compass continuously invests in enhancing the qualification of our accountants by the means of regular trainings. 

 

Companies with registration under the VAT Act Monthly price
Up to 10 documents per month € 50
Up to 20 documents per month € 90
Up to 50 documents per month € 140
Up to 100 documents per month € 180
Over 100 documents per month To be agreed
Companies without registration under the VAT Act Monthly price
Up to 10 documents per month € 20
Up to 20 documents per month € 40
Up to 50 documents per month € 65
Up to 100 documents per month € 85
Over 100 documents per month To be agreed

 

What is included in our service?

Issuance of bilingual invoices, invoice notices and protocols with an accounting software in compliance with the VAT Act

Processing the income invoices, expense invoices, payment orders and other documents

Preparation of the monthly VAT returns and filing them with the NRA, including nil returns for the the months when the company had no documents to process

Preparation of the annual financial statements and annual tax return and filing them with the NRA

60 minutes accounting consultation per month;

Important deadlines related to the company’s business

  • Your financial year commences on January 1st and ends on December 31st. Companies that have commenced their business after January 1st report their operations as of their establishment until December 31st;
  • VAT returns have to be submitted on a monthly basis up to the 14th day of the month for the incomes and expenses during the preceding month. The VAT payable, if applicable, is to be paid within the same period.
  • The annual financial statements and annual tax return for the preceding financial year are to be prepared and filed with the NRA (National Revenue Agency) until March 31st at the latest. Corporate taxes due also have to be paid within the same period.
  • Afterwards, your annual financial statements is to be published by June 30th at the latest in the Commercial register under the company's file as to be visible for public inspection.

 

Contact us NOW and get your quote

We will respond to you within 24 hours

 


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