Accounting services in Belarus: what is included in the service and how to choose a reliable contractor

Accounting errors cost money. Fines, penalties, additional charges based on the results of inspections, problems with the bank — all these are direct consequences of poor accounting. That is why more and more Belarusian entrepreneurs are turning to professional accounting services outsourcing, rather than having a full-time accountant.

In this article, we look at what exactly is included in accounting support, how a one-time request differs from ongoing service, and how to choose a contractor you can trust.

Legal basis: who is obliged to keep records in Belarus

Accounting is regulated by the Law of the Republic of Belarus dated July 12, 2013 No. 57-Z “On Accounting and Reporting.” The law obliges organizations to keep records continuously from the moment of state registration until liquidation. The manager is responsible for its organization. At the same time, the law directly allows for the transfer of accounting to a third-party organization or individual entrepreneur — this is the legal basis for accounting outsourcing in Belarus.

What is included in accounting services

The complete package usually includes:

• maintaining accounting and tax records in accordance with the legislation of the Republic of Belarus;

• processing of primary documents: TTN, invoices, acts, invoices;

• calculation of wages and all related taxes and contributions to the Social Security Fund;

• preparation and submission of declarations to the Tax Inspectorate (VAT, income tax, simplified tax system, income tax);

• preparation and submission of statistical reports;

• preparation of annual financial statements — balance sheet and profit and loss account;

• work with ESChF in the AIS “Accounting for invoices”;

• current consultations on accounting and taxation.

How does a one-time service differ from ongoing support?

One-time services are a specific task: draw up a balance sheet, submit an overdue return, check tax calculations. Suitable when an isolated issue arises.

Accounting services — this is continuous maintenance of all accounting under the subscription agreement. The outsourcing company is responsible for the timely submission of all reports and bears financial responsibility for errors made. It is this format that is most in demand among Belarusian LLCs, private unitary enterprises and individual entrepreneurs who need predictable results for a fixed monthly fee.

Who is suitable for accounting outsourcing?

Startups and microbusinesses. It is not advisable to hire an accountant: there is no constant workload, the cost of a specialist is comparable to income.

Small and medium business. A staff accountant means salary, taxes, workplace, software and human factor risk. An outsourcing company covers all these risks at once.

Companies at the stage of reorganization. Handing over business to a new staff member is a complex and risky process. The outsourcing company ensures continuity of accounting regardless of personnel changes.

Foreign companies operating in Belarus. The specifics of Belarusian legislation require knowledge of the local regulatory framework — you cannot do without a local specialist.

How to choose a contractor: key criteria

Experience and industry specialization. Accounting in construction, trade, IT and tourism differs significantly. The company must have proven experience in your field.

Financial responsibility. A reliable contractor insures his professional activities. In case of an error, the client’s losses are reimbursed by the insurance company — this is a fundamental difference from a full-time accountant.

Transparent pricing. The cost is fixed in the contract without hidden extras. The best option is a tariff schedule tied to the volume of primary documents and the number of employees.

A team, not one person. When outsourcing, the client should be able to get help at any time, and not depend on the vacation or illness of one specialist.

The Accounting Technologies company has been operating in the Belarusian market for more than 20 years, insures professional liability in the amount of BYN 150,000 and offers fixed rates for simplified taxation system and special taxation system without hidden fees.

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