Effective financial record-keeping is a cornerstone of successful business management. A precise accounting of income, expenses, and tax liabilities optimizes cash flow and helps prevent potential issues with tax authorities. Entrepreneurs face numerous challenges in managing their finances in a constantly changing legal landscape and amidst economic uncertainties. ProperIt’s financial bookkeeping enables compliance with legal requirements while fostering growth strategies based on accurate financial data.
What is Bookkeeping in Ukraine?
The term “bookkeeping” originates from English and translates as “keeping books” or “recording in books.” Historically, it referred to the manual recording of financial transactions in ledgers or journals. Every fin. activity, such as sales or expenses, was documented to maintain systematic records of cash flows.
Today, BKPR in large organizations is typically carried out using electronic systems & automated Enterprise Resource Planning (ERP) solutions. However, many small business owners (sole proprietors) often do not require such systems and rely on accountants or fin. experts to manage their company’s bookkeeping.
The terminology of BKPR is widely recognized in international accounting. In the U.S., role of a BKPR is comparable to that of a Certified Public Accountant (CPA), as BKPRs maintain comprehensive company records & provide the foundation for preparing financial reports.
Bookkeeping aims to provide accurate, up-to-date information about a business’s fin. —position for managerial decision-making, tax reporting & audits.
Outsourced Bookkeeping: Why choose it?
Bookkeeping is a comprehensive service that ensures the accurate and efficient management of all your company’s financial transactions. Outsourcing this service allows you to delegate critical fin. management tasks to professionals.
At Finevolution , our specialized Bookkeeping Service makes it easy to:
- Monitor expenses & plan budgets,
- Evaluate profitability,
- Make informed decisions that contribute to your business’s success.
We record income, expenses, tax payments, and other essential data for your company’s financial BKPR.
Our bookkeeping service also ensures timely and error-free preparation of tax reports, reducing the risk of penalties and ensuring compliance with Ukrainian tax legislation. This is particularly valuable for young businesses that require confidence in the accuracy of their financial data to support sustainable growth.
What does the Bookkeeping service include?
Finevolution’s bookkeeping service covers the following tasks:
- Issuing payment invoices from your company to contractors,
- Issuing invoices from sole proprietors to your company,
- Monitoring VAT statuses and issuing invoices by VAT payer status,
- Completing contracts,
- Collecting incoming invoices,
- Preparing bank statements,
- Managing transit accounts: creating registers or lists for sole proprietors and transferring them to the bank for payment,
- Organizing and systematizing document collection,
- Sending all necessary documents to accountants for report submission,
- Ongoing communication with accountants regarding financial reporting.
Important Note: This financial bookkeeping service is tailored exclusively for businesses operating in Ukraine. If you own an American company, we recommend visiting Finevolution’s Polish office, where you can order Bookkeeping services for US companies. Send a request via the form below or a message on Telegram bot/Viber, Whatsapp chat for consultations. Our working hours are 9:00-19:00 from Monday to Friday.