Must know: Benefits of online accounting

Along this technological era, it’s no surprise that every industry is taking meaningful steps into the digital world which means, in other words, that mobile and online services implementation represents an enormous optimization for the client’s processes as well as for the company’s, and everyone is doing it because – come on – we all want more personal and industrial benefits while taking a smart approach for the usage of our resources.

 

You may be interested: How does online accountants work?

 

With this said, a great portion of the biggest companies around the world have taken by storm the services offered by online accounting firms, because there are plenty of benefits that an experienced – and smart – business owner knows can be beneficial in different levels.

 

So, if you’re interested in knowing the benefits that online accounting has to offer to you and your company, we invite you to read the following list:

 

24/7 access

As business owners we understand how important it is to keep a constant eye over the financial flow in order to comprehend and optimize your company’s operation, while detecting flaws and identifying new growth opportunities.

 

Knowing this, with the online accounting service, you will be able to access your company’s financial information at anytime, everywhere without restrictions.

 

Timely and reliable advising

It’s undeniable how important it is to have a professional’s support during any important decision-taking stage, so the online accounting service works as a channel between you and your advisor, where both of you can check every single financial movement even before it’s done, allowing you to receive the most accurate advices from a trustworthy source based on data displayed by the software.

 

Professional security

Some people is unwilling to migrate into the digital era, because – for them – it is risky or insecure. We can not blame them, but we also know what happened to dinosaurs.

 

The best online accounting softwares are protected by strong tools following the strict obligations of online laws and browsers requirements. This means that your company’s information will be completely safe from any hazard, so don’t be afraid of changes.

 

Smart resources usage

When you have implemented an online accounting software among your company’s working tools, it is obvious that you will be saving money, time and efforts, acquiring a more productive overall process.

 

This is due to:

  • Saving money on hiring your own accountants.
  • Saving the needed space to accommodate your accounting team.
  • Saving the time you (or your team) usually spend doing accounting tasks.
  • Saving everyone’s efforts around the accounting needs.

 

User-friendly interface

Are you new on this modern quackery? Don’t worry!

 

Most online accounting tools are equipped with intuitive elements that make it easier for you and your team, so in no time you all will be experts on these thingummies.

 

A user-friendly interface allows you to create new accounts, users or saving-pockets, among many other options. It also enables you to understand the permanent financial flow happening under your company’s umbrella of services, create reports, work on simulations and fix new objectives.

 

Paperless storage

Look, we don’t want to pose as Greenpeace, the WWF or the PNUMA, but here’s an important message: The world needs our help right now, and the less paper we use, the better.

 

Online accounting services not only reduces the amount of paper we use for our accounting tasks, but also helps us to reduce the space we have to spend to storage all our company’s financial information, making it easier for us and for the planet itself.

 

It’s a win-win!

 

So, what’s not to like? Get your online accounting service now and start improving your company’s processes while optimizing your resources usage and increasing the income!

Posted in ENG

The importance of tax accounting for your business

Being a former spanish colony, the colombian State has inherited a wide quantity of taxes which dependence relies primarily on customs. Taking this into account, entities such as the Congreso de la República, as well as the Asamblea Departamental and the Concejo Municipal, not only determines but also checks on the fulfillment of payments according to fixed rates.

 

Based on the State’s watch over payment’s execution (according to due dates and tariffs), all companies must keep themselves completely up to date in a certifiable way.

 

In order of fulfilling all legal obligations, plus being aware of any update on its subjections and industry requirements, the company’s processes get complex and delayed, having a negative impact on the brand’s production and its economy over all. This is why all smart business owners seek for the support of a firm which offers tax accounting services.

 

These services are based on their deep and updated knowledge on the tax obligations matters (not mentioning their mastery and experience about applied taxes for companies and individuals). This means that, any person who needs to solve doubts and perform timely payments over taxes, can get in contact with specialized accounting firms, which – among many other services – will help them settle prompt payments under all the law conditions.

 

Thanks to the team’s mastery and experience on tax accounting services, those firms have also got practical knowledge, which will allow any company to optimize their resources, such as:

 

  • Perform all responsibilities according to the industry specifications.
  • Execute timely payments due to acquire financial benefits as, for example, discounts.
  • Implement strategic activities inside the company to reduce tributary obligations.
  • Carry out specific quantities to avoid any overdraft on the payments.

 

So, if your company receives the tax accounting services support from a specialized firm (besides optimizing your resources in order to get an intelligent fulfillment), your company will keep every requirement completely up to date. Besides, you and your team will be able to be focused on those specific tasks which require punctual attention, leading your company to its overall development.

 

This means, now that an expert is in charge of fulfilling the exact payments on taxes and tariffs, you won’t be worried with all those tax responsibilities, which are:

 

  • Withholding tax: A mechanism used to accelerate the collection of taxes from the moment they are accrued.
  • Wealth tax: An obligatory payment of the 0.3% for people who own more than one million dollars on their total assets.
  • Income tax: A must-pay percentage quantity according to the economic amount that a company (or a person) accrues. In the company `s case, it is the 33% while, for individuals, it can vary between 0% and 33% according to their income.
  • Financial transaction tax: It consists of a 0.4% tax on all financial transactions, including ATM withdrawals, promissory notes, bank transfers or online banking, among many others.
  • VAT: A 19% tax which is applied on a large number of products and services with few exceptions, such as public transportation, water supply and hydrocarbons transport.
  • Stamp duty: A tax for the issuance of public documents and the validity of private documents, such as the creation of a contract or the modification of such.

 

In addition to the aforementioned taxes, we can also find local taxes, such as the tax on motor vehicles and the property tax.

 

 

You may be interested: Should your company work along with a tax firm?

 

So, to avoid that you or your company fall into legal complications due to poor fulfillment with tax responsibilities, it is always advisable to count with the support of specialized firms that provides tax accounting services.

Posted in ENG

The benefits of a tax advisory

When we talk about tax advisory, naturally, what comes to mind is a relation between a topic as tedious as mandatory. But, in fact, it is no secret that few of the most important companies around the world have been involved in legal issues, or even have come to their bankrupt, because they’ve ignored their fiscal obligations, such as taxes, income statements or legal structures made to plan the procedures of a company.

 

Of course, it is comprehensible that there may exist a big nebula made of questions and confusing answers surrounding the whole topic of a company’s legal duties, and because of that we’ve been witnesses of important offer of firms whose labour is to grant tax advisory services and accounting, among many others that we can find nowadays.

 

These firm’s philosophy lays on supporting any company to maintain all their legal obligations fully updated in order to avoid misadventures. All this can be pulled out with tax advisory and accompaniment, which are performed by an expert team with a wide knowledge and mastery over all the taxation matter.

 

So, if you’re interested on knowing the benefits of a tax advisory, we’re going to present them to you:

 

Timely presentation of statements

Among the most renowned statements, we find the famous income statement, which affects legal entities as well as regular people. In any case, this statement has to be effective and completely error-free, but we have come to see that a bast community doesn’t really know all the numbers and accounts that must be included there.

 

Tax advisory not only allows companies to figure out which elements has to be taken into account, but also it looks forward an optimization on incomes while being under any legal terms.

 

An effective advisor, also manages to communicate all data included in the statement in order to discard confusions between owners and the commissioned entity.

 

Management of taxes and invoices

Another facts that must be taken into account are taxes and invoices, which has to be periodically presented, but whose importance has effect over the company’s everyday.

 

The Income Tax on Physical People, the well known IVA and the Tax over Societies, as well as the follow-up of collection invoices, payments and debts, among many others, are elements that a tax advisor cannot keep unnoticed in order to maintain the contracting company fully informed and updated on assets and liabilities.

 

Preparation of accounting for partners

This is one of the most outstanding benefits of tax advisory. When a company has the support of an expert team, it is completely feasible that there will be clear financial balances which allows to know the company’s actual economical status. This opens the gates of intelligent decision-takings and, finally, enables the company to be sustainable and fix a long-term growth projection.

 

Permanent tax advisory

Beyond keeping a sustainable company with growth projections, having a tax advisor by your side is infinitely helpful to be informed about all financial movements made, elements that must be taken into account, flaws, opportunities and any other aspects that has to outstand. This is a fundamental tool to create more reliable managerial departments whose labour is to maneuver strategically their business as the competent team they are.

 

So, when there’s a palpable question, you’ll have the opportunity to consult a trustworthy tax advisor, whom, thats to his or her mastery, must not find any limit to resolve your needs.

 

With the aforementioned, now you know why is important to count with a professional team of tax advisors. Thanks to this important support, all companies can completely focus their efforts and resources into their primordial tasks in order to create a development and expansion path, because, while the advisors keep an organized taxation area, the managerial department will be free to deliver important matters without any interruption.

Posted in ENG

Accounting services: Why are they important for my company?

As you may well know already, the accounting services of a company encompass a series of processes that lets you identify your business’s financial and patrimonial status. This, in common words, suggests that without these services it would be impossible for a company to correctly function, because one couldn’t be able to know with precision the current numbers and the patrimonial circumstances, or the relations between financial assets and liabilities.

Letting aside any mistaken meaning, the accounting services can – and should – not be only lent to big corporations, but to medium and even small businesses as well. Otherwise, any company whose functions keep marching on with no aid of a professional accountant, may not show signs of growth or even be destined to be doomed.

You may be interested: Should your company work along with a tax firm?

When a company counts with the support of an expert on accounting services, it is possible to measure, identify and communicate all the economical information related to the company, and this will be useful – and obviously fundamental – to take correct decisions to achieve an overall improvement.

To pull this out, it’s important to get the relevant accounting services in order to settle all accounts that must be payed and the ones to be collected, plus other financial transactions which can be done with the help of an online tool. If you’re interested in knowing the benefits of an online accounting service, we invite you to click right here.

The accounting services cover a wide variety of processes to make your company’s functions go smoother

Besides identifying, measuring and communicating all the economical information in your company, as we mentioned above, when you get accounting services, you will be able to have an expert going through a detailed review of the bookkeeping, while others analyze the entire company’s financial landscape, generate reports and design an accounting strategy to comprehend projections and tax returns.

Among the aforementioned tasks, to an expert in accounting services it’s expected any kind of knowledge and skills not only to analyze but to manage the company’s investments aiming to a secure future with a better cash flow to promote a substantial growth. Moreover, its crucial to know all type of formats to present the relevant internal information of the company, so the accounting advisor can generate comprehensible documents to any external entity.

Remember that the clearer, the better. These documents tent to be used to generate and consolidate trust between the company and its shareholders and investors.

So, how does accounting services improve your company’s functions?

Thanks to all the information collected by the accounting services team, you will be able to have a financially healthy company.

It’s probable that you, as a business owner, keep an organized record of all transactions, bills to be payed and incomes. However, what makes an expert outstand from people with different skills, is that they can evaluate the entire landscape and generate projections and assumptions based on their knowledge of the actual economical flux surrounding your business. Because, among their proficiency, the accounting services experts must be cognizant of different formulas known as “accounting ratios”, which are infinitely useful to discover hard-to-find conditions and tendencies, based on individual inspections of any detail that can have effect on your company’s financial status.

At first glance, this may look as some kind of unaffordable luxury, but it is not. Accounting services such as this are undeniable fundamental to any business’s operation because of the following aspects:

  • Guarantees your company’s cost effectiveness.
  • Helps you to plan the future of your business.
  • Improves your company’s performance. Want to see why? Click here and we will tell you!
  • Set optimal productions costs.
  • Gives you a wide perspective of the entire business general landscape.

These are just few of the many benefits your company can get by acquiring accounting services, but if you want to know more we invite you to read our entry about the 8 benefits of accounting services for your company clicking in the link.

With no doubt we can say that accounting services are much more than just bookkeeping because, as we told you, you can evaluate new metrics to have a better vision of your business’s future and taking it as a base, you’ll be able to take the right choices to see a stronger commercial growth.

You may be interested: All you need to know about tax advisory

So now you know. If you’re looking for the best accounting services in order to improve your company’s operations, all you have to do is to contact an expert team whose talent and knowledge will lead your business to a new level.

Know the benefits of online accountants

It is undeniable that, by today’s standards, practically everything is moving back and forth via internet. The entire world is taking place in the web and accounting isn’t exception, because even since digital bookkeeping has been done for quite a while, receiving the whole package of services from online accountants (audits, advisory and keeping the financial book’s balance, for example), can be considered as something new in the market.

However, even if it is known by everyone, not all companies feel entirely comfortable about migrating their accounting management to a digital channel or system. In JLC Auditors we are constantly concerned about our client’s wellness so, in that order, we’re going to present to you the most outstanding benefits of counting with the services of online accountants:

 

Increase on the productivity

Since all the accounting management will be outsourced, it is easy to say that you and your team will leave some headaches aside. When you get online accountant’s services, all the financial administration will be handled to an expert or a team of experts and it basically means that all the work that you have to perform to comprehend, manage and keep in perfect order is going to be executed by a different team, leaving you and your partners free to fulfill your own tasks. Your company’s rhythm of productivity will present, naturally, a considerable increase.

This may be a convincing enough scenario, but there’s more.

 

24/7 unlimited access

Unlike traditional services, online accountants present the practical possibility of having permanent access to your financial data base. That’s right, you can say good bye to the old fashioned physical bookkeeping by migrating to digital tools that are permanently available for you to access and navigate on the data it displays.

All you need to have now is your user name and the password, so you will be capable of accessing to your company’s financial information from anywhere, at any time and by any device.

 

You may be interested: All you need to know about tax advisory

 

This aforementioned information is constantly being updated based on your business’s economic status and portfolio by an expert online accountants team. Plus, need to make some minor changes? Don’t worry, you can contact the team behind the service and your suggestions will be up in no time.

 

Friendly and easy to understand

We know, sometimes all that bookkeeping may result quite exhausting and hard to understand once it begins to get deeper and more complex. However, thanks to the technological capabilities and the work of many skilled professionals, the services lent by online accountants results much more easy to understand than the traditional one.

Trough clear tables and calendars (and more options) tailored specially for your company by experienced teams, you will be in front of tools created to simplify your experience thanks to a user friendly interface.

So, in short terms, you can log in, search for what you need and you’ll get an answer in record time without the common missteps and time loses offered by traditional accounting methods.

 

Paperless processes and storage

One obvious – but not less important – benefit of online accountants, is the possibility of acquiring a service that will not only reduce the paper waste, but also highly avoid the risk of losing the information as a consequence of technical malfunctions, human mistakes or natural disasters.

We must always be various steps ahead.

This means you won’t have to keep huge amounts of paper-filled-boxes to preserve your financial history and data because it can be stored in the Cloud, saving you money and space. And hey! It’s a fantastical solution to environmental deterioration.

 

You may be interested: Should your company work along with a tax firm?

 

So, if you’re interested in taking an important step into the future and ease the financial management of your company while improving its performance, it’s time for you to evolve and get the services from online accountants. Your business will be infinitely favored from a production and economical point of view.

Looking for an expert team to advice you and join you along this important transition into a world of digital possibilities?

Look no further, and contact us clicking here.

Posted in ENG

Tax accounting services: Improve your company’s performance

As business owners we completely understand your concerns about your company’s performance, and we can obviously relate to the exercise of constant seeking for new alternatives and solutions for every-day-problems. So let’s be honest, our main headache as leaders is how to correctly manage the company’s resources to improve over time and become a competitive business on the commercial section. Thankfully, with the tax accounting services support, every company can witness its own growth by analyzing and optimizing the use of its resources (time, effort and money).

Tax accounting services are a well-structured integration of methods to keep every company’s financial status in line with the taxation legislation rather than any other public financial statement. This aforementioned legislations are regulated by the local internal revenue code and it dictates the rules that business must follow and accomplish. With the accounting advisor’s help companies can prepare their tax returns and keep all its performance under legal terms.

 

You may be interested: All you need to know about tax advisory

 

So, when we talk about tax accounting services we’re referring to all functions concerning the company’s accountants. Which, in general, is the person or team responsible for providing financial information to the management departments by analyzing accounting data and execute audits and reports.

It is necessary to comprehend a little deeper the accountant’s duties, so we can see how the tax accounting services are crucial to the company’s growth, so let’s see:

  • By compiling and examining accounts information, experts on tax accounting services can prepare asset, liability and capital entries.
  • Keep record of any financial transaction thanks to his or her access to the account information.
  • After acquiring a global view over the whole spectrum, the accountant will make some as many recommendations as needed over financial actions.
  • The tax accounting services expert will create constant reports to summarize the company’s current financial status by collecting data and organizing balance sheets, among many others.
  • As expected, the expert will collect all the financial transactions information to substantiate them.
  • By creating and suggesting procedures and policies, the responsible will keep control over the account’s movement.
  • Serving as a personal advisor, accountants will coordinate activities along with the company’s staff to solve any question.
  • One of the main tasks of an accounting advisor is to analyze any financial discrepancy and get to the bottom of it to arrange a solution by collecting information.
  • Tax accounting services are known for securing the company’s financial information by maintaining data base backups.
  • Every company that counts with tax accounting services support will have its financial security intact thanks to the rigorous following of internal controls.
  • The entire operation surrounding payments and disbursements will be in complete order by document’s verification.
  • Another important tax accounting services duty is to maintain the company in line with the local financial legal requirements by studying all existing and new policies.

 

Now that we’ve talked about the bases of Tax Accounting Services and the accounting advisor’s responsibilities, it’s time to understand its effect on your company’s performance.

From a business owner perspective, the taxation information goes a lot deeper than the case for individuals. There’s much more information that has to be analyzed additional to the regular incomes, and this adds some layers of complexity along the tax accounting process, such as studying specific expenses and shareholders. So, because of this, we can say that every company need the aid of tax accounting services.

When any business receives support from tax accounting services experts, it’s natural to witness the following improvements on your company’s behavior:

  • Less unnecessary expenses.
  • The entire company’s staff will follow certain policies to develop every activity under the financial legal frame.
  • Every inaccuracy will be detected and then, after the mandatory process, will be solved by the correct means.
  • There will be a detailed record of how the company’s account behavior is going, so not any single transaction will pass unnoticed.
  • The management team will get new tools to comprehend and control the company’s resources correctly in order to optimize them.
  • Every single member from the company will be able to focus their efforts on their specific duties instead of worrying on the business’s financial status now that an expert is in charge of that area.

So now you know…

Tax accounting services not only help you to organize your company’s resources or to keep detailed records of how those are being invested, but also to improve its performance and execute every single activity under the financial policies. This way you will never be suffering a headache because of delayed payments or anything similar.

You may be interested: Should your company work along with a tax firm?

Posted in ENG

Should your company work along with a tax firm?

Taking into account how important it is for a company to be fully organized around the matter of payments and expenses as well as governmental taxes, the support of a tax firm becomes almost indispensable. Thanks to these firms, all business owners not only are able to maintain the rhythm of productivity in their organization, but also can keep track of every single economical transaction without investing any of their valuable time performing lengthy tasks, such as learning and managing finances and all the laws that surround them, as this is part of the tax firm’s duties.

 

A tax firm can become one of the most important allies of your company’s growth

 

When we talk about a tax firm, we refer to an organization which mission is to look for methods to aid a wide variety of companies in order to improve their financial development, and also designing acute ways to save on taxes or state obligations. Basically the importance of a tax firm lies on its knowledge about financial laws to reduce the company’s tributary burdens that may end up having a heavy effect on its economic status.

 

See also: All you need to know about Tax Advisory

 

Among many other characteristics, the team behind a tax firm will always be conformed by experts whose knowledge is frequently updated by special trainings, but also by their growing expertise. This suggests that every company that works with a tax firm will witness a relevant improvement.

 

A tax firm helps you improve your business operation

As we’ve told you before, a tax firm will be completely focused on the financial status of your company, and this involves the study of the commercial section regulations, your business’s specific obligations and its internal economic flow (expenses, incomes, wages, taxes, growth and investment possibilities, and much more).

Moreover, the tax firm will eventually perform consults and audits to identify every little detail inside your company’s financial stages in order to hand you a solid report of the entire situation and, also, give you professional advisory which is meant to be of crucial help for the improvement of processes and the resource’s use.

As a business owner, when you count with the support of a tax firm’s team by your side, you’ll be able to clear your mind and schedule of all those responsibilities related to keeping your eyes constantly over your company’s numbers for them to enhance, because from then and on you’ll have a helping-hand taking care of those affairs. A close and expert helping-hand.

 

Reasons to work along with a tax firm

Apart of being in constant training and update in law changes, a tax firm staff implements the latest technologies to gather all required data to be one – or various – steps ahead of any inconvenient. Furthermore, an expert team must be in daily contact with tax authorities whose labors are related to refunds, investigations, payments, non-compliances or wrong procedures, among others.

It is usual to see tax-firm-allied-companies achieving positive results after an evaluation and optimization process, but it is also very common to find troubled businesses after an inaccurate procedure whose legal consequences may take even years to be solved. So be aware of it and choose wisely: Would you like to be stressed after a devastatingly wrong advisory, or would you rather count with the right tax firm by your side?

 

A tax firm helps your company to be in right terms with the legal and financial duties, but also lets you enhance your business’s productivity

With a tax firm auditing your company’s procedures, it is natural to find few irregularities affecting your growth. Unnecessary expenses, accounting mistakes or even some intern misbehaviors, and then, after the experts evaluate the entire situation, you’ll receive strategic solutions to solve those obstacles.

In conclusion, a company that acquires the services tax firm not only tents to have every legal element in line, but also has a vast amount of possibilities of optimizing its processes and increase its income, being well above over its competitors thanks to the firm’s knowledge and professionalism on the matter.

 

See also: 8 benefits of Accounting Services for your company

 

Are you interested of seeing your company grow and perfecting its processes? We recommend you to contact a tax firm to start your journey to success. Working hand in hand with an expert team is the key to achieve your business’s goals.

Posted in ENG

All you need to know about Tax Advisory

When we get to talk about Tax Advisory, we’re gathering around all the information and procedures related to a specific person or a company’s fiscal and accounting duties (taxes), such as income tax, tax on economic activities, corporate tax or added value taxes. These, as it’s been previously explained, are some obligations that all entities must prosecute.

However, many people don’t know all the key information regarding their responsibilities as an autonomous person or a company, and this may cause few headaches to those whom get notified with a warning or a penalty fee after delayed payments. To avoid those bitter surprises, we’re going to give you a broad and deep look into Tax Advisory.

What is Tax Advisory?

Taxpaying entities with complex financial situations such as convoluted investments and deductions tend to look for a Tax Advisor’s support to minimize the amount of tributary obligations and, also, keep paying all the taxes on time as well as the exact values.

Every business owner knows that taxes are related to the entire company’s operation, so in order to reduce losses, its necessary to be under constant Tax Advisory by an expert, whose responsibilities goes further than evaluating, fixing and planning the best ways to enhance the client’s resources while maintaining all duties up to date.

See also: Have you heard about Tax Accounting Services?

Why do we need Tax Advisory?

In order to comprehend the entire Tax Advisory purposefulness, we must put this in an everyday situation.

As you may know, the process of labeling and presenting, for example, an income tax return may result very distressful to many people. Sadly for them, this is a regular matter which laws change frequently, making it harder for business owners and individuals to keep on with the updates. Just think about it: credits, taxes, reportable income, government deductions and much more… What a mess!

Now, this prevalent confusions end up being the cause of mistakes, such as over payment, underpayment or – as explained before – delays. In any case the taxpayer will be losing money, especially for penalties. Fortunately all entities (individuals and companies) can count with the Tax Advisory support.

What does a Tax Advisor do?

Just like its name implies, a Tax Advisor is a person whose labor is to provide expert advice on documents, filers, laws updates and is also able to suggest strategies in order to reduce duties as well as audits that may lead to legal troubles. Moreover, a Tax Advisor not only can prepare documents on behalf of the client, but also represent them before tax authorities and courts to resolve tax issues. Among the Tax Advisory tasks, the expert in charge may:

  • Assessing a customer’s budgetary and legitimate conditions to determine tax liabilities.
  • Gathering, sorting out and getting ready tax archives and returns.
  • Finishing complex tax documents and calendars that most assessment preparers are new to.
  • Supporting the clients with duty issues amid and after a noteworthy life change, for example, a marriage, divorce, the demise of a life partner or the birth of a child.
  • Representing clients in front of tax authorities.

To conclude, Tax Advisory is an important element for the right functioning of your company’s legal posture, but also for its financial behavior and improvement.

Remember that, in the case of mercantile companies, you can get an expert’s support on the following fiscal obligations thanks to a Tax Advisor:

  • Corporate tax.
  • Tax on economic activities.
  • Value added tax.
  • Billing obligations.
  • Withholdings and income on account.
  • Communications by electronic channels.
  • Census of promoters, professionals and retainers.

Besides the aforementioned, in the case of individuals, limited liability entrepreneurs, communities of goods and civil societies, the Tax Advisory also can lend its aid on the income tax for individuals.

See also: 8 Benefits of Accounting Services for your company

So, knowing this, you should look on your tax responsibilities to avoid any mistake or payment delay. Also, considering the complexity of the matter, we recommend you to contact an expert team on Tax Advisory to receive constant support along this convoluted process.

Posted in ENG

Have you heard about Tax Accounting Services?

Naturally, as a consolidated company, your business has to follow few tax obligations which must be in permanent order to avoid legal misunderstandings. We can mention income taxes, taxes on sales, retention at the source, tax of industry and commerce, among many others, and to keep this in check it’s important to receive a constant and close advisory from a reliable source, such a specialized team on the Tax Accounting Services matters.

To comprehend the importance of Tax Accounting Services, first we must talk about taxes. Taxes are studied designed elements created by the Government in order to contribute to the sustenance of public expenses, also to redistribute the income according to every entity’s economic capacities and, as a third aspect, taxes are structured to seek for an improvement on the country’s economic efficiency.

 

Also read about: 8 benefits of Accounting Services for your company

 

It means that even if taxes represent a financial duty with nothing concrete in return, it’s important to understand that taxes are a crucial recourse to the country, also part of its maintenance and a substantial element to progress. So, to this, taxes represent a final benefit to every company, making them more attractive to external investors.

This is why taxes are important and also a legal obligation.

Knowing the aforementioned, the Tax Accounting Services are essential to a company’s legislative and regulatory environment. So, the expert whose job is to keep the tax accountings must check and advice about a different matter other than just identifying and optimizing the company’s intern financial condition.

The Tax Accounting Services responsibilities extension goes from identifying and verifying the mandatory taxes of a company, to tax policies determination in order to execute bonuses or discounts. Moreover, is fundamental to understand how different are Tax Accounting Services compared to financial accounting, because the person in charge of the tax accounting must have a complete knowledge of all the management around the monthly or annual taxes and tax return that every company or organization has to perform.

In fact, some of the most recurrent tasks that an expert on Tax Accounting Services must accomplish are:

  • Collect and analyze all the information related to monthly sells and services of the different company’s unities in order to determine, make and declare every taxation responsibility.
  • Set guidelines, formats and characteristics which has to contain all the sells and services information to create the company’s form to declare its obligatory rent.
  • To be the institutional counterpart in taxation matters before the auditing bodies, such as rent determination and calculation.
  • Keep checked the legal documents and books compliance.
  • The custody and actualization of the printed legal books which are required by the controlling entities.
  • Also, to create the supportive and official electronic books and reports which are also a requirement.

Now you know about the importance of keeping on the line with the legal obligations of your company and how helpful it is to count with the support of the Tax Accounting Services, you should see how your business will be benefited by it:

Tax accounting

Aid the annual and monthly tax calculations to review how prepared is your company to carry out its responsibilities. Also, checking the documents actualization, so you’ll be unworried about any legal issues on your business.

 

Tax balance sheets

Check and validate current and old tax sheets to prepare new balance sheets whose job is to support your company’s actual financial condition.

 

Transactions

One of the main tasks of Tax Accounting Services is, also, to assist on all transactions related on different aspects, from acquisitions to post bankruptcy emergence.

 

Tax risk

Recognize and prepend all important taxes, procedures and managements to control the entire monitoring and emendation.

 

Also read about: How online accountants work?

 

So if you want to improve your business’s financial condition while keeping it all in the legal regulations, it’s recommended to contact an expert whose support will help you get a wider look on the Tax Accounting Services landscape and, besides, will give you an early alert about any irregularity.

 

 

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How Online Accountants work?

Have you heard about Online Accountants? They represent a modern solution to your business by helping you to carry out any financial issue in an efficient and modern way. Online Accountants not only supports all your economical movements and allows you to save resources like time or money, but also ensures your company’s information to avoid losses by any means, plagiarisms or leaks of delicate data.

As you may well know, en expert Accountant is a person whose primary tasks revolve around financial records. Naturally, their job is to prepare and analyze the entire economic data in order to keep an accurate record around incomes and expenses, including taxes which must be paid in time. Additionally, Accountants – as well as Online Accountants and auditors – must keep both eyes wide opened over the whole company’s financial operations, performing eventual audits to maintain an efficient flow.

Online Accountants do – pretty much – the exact same job of a traditional Accountant, however the online aspect of their work allows them to manage, update and look over the company’s records without the need of a constant physical presence, which helps to optimize time and, certainly, money. In other words, Online Accountants:

• Keep a detailed record of your business’s financial movements.
• Plan ways to minimize risks, improve efficiency and increase profits.
• Organize efficient ways of taxes payments.
• Can offer constant records of the current portfolio status.
• Ensure that the company is complying with laws and regulations.
• Provide audits for companies and individuals.

 

Also read about: tax firm

 

Let us put this in perspective.

The digital era has been changing every aspect we can imagine, from everyday tasks to complex jobs like running an international corporation, and in between all that, Online Accountants are now a reality. Even if companies undoubtedly trust in traditional accounting, they’re moving forward to a modern methodology with all the benefits of the internet and the cloud.

The cloud, as you may well know, is a wide network created by the connection of a variety of spread physical and powerful devises (servers) whose objective is to store an immense amount of data which can be accessed only by the owner’s permission. This means that everything that’s based on the cloud is, primarily, online and can be shared with whoever the owner wants whenever or anywhere. Moreover, those servers can be reliable sources of security and management, because all the information can’t be stolen or acquired by unauthorized third parties. So, instead of keeping all your company’s information inside an USB or a CD where it can be easily lost by any means, you can storage and manage if from any devise like your computer, smartphone or tablet, and have access to it at any time and any moment while you sleep at night knowing that all your company’s information is safe 24/7.

Accounting, as one of the most recurrent and time consuming tasks on your company, there’s the possibility of acquiring an Online Accountants service, which has many advantages over the traditional accounting services, for example, you’re able to access all your company’s financial information from any device with an internet connection and, as we mentioned earlier – and unlike the classic ways –, this information will be constantly updated, offering reports of your company’s status in real time. In other words, thanks to Online Accountants your account balance will always be accurate and less to none errors will take place.

In the other hand we have to think of the economic benefits, which rank from the time you can save by avoiding the manual data entering (software upgrades) or server failures, to money-saving benefits as, for example, you won’t need to hire IT support or deal with routine maintenance.

Let’s face it: with Online Accountants you can save a lot of time and money, so what are you waiting for to acquire this modern service to improve your company’s productivity as well as resources?

Contact us and take your first step into the next level.

Posted in ENG

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