Accounting generally refers to a position that may seem costly for some companies, especially for very small and medium-sized businesses and SMEs. However, there are certain options that can reduce its accounting costs and especially the fees of the expert of the figure. This file unveils them here in a publication whose main purpose is the development of available solutions to significantly reduce the cost of accounting.
Reduce accounting costs or take care of your own accounting
At this level, there is no miracle: to reduce the costs of managing a company’s accounting, you have to do more tasks in this area or do your own accounting. When an accounting firm in Ixelles, Brussels and Saint-Gilles works with an accounting service provider, this must involve a change in the distribution of the missions previously provided for in the mission letter granted with the specialist or a termination of the contract.
In the first case, the issue is essentially to redefine the sharing of accounting missions, already being specified here that the entity will collaborate more in order to reduce the work costs of the professional figure. This is how it is possible to take advantage of a discount on fees. For example, it may be the recovery of the part of the accounting entry for the company wishing to revise its annual accounts. In this case, an amendment to the engagement letter is drawn up and approved by the parties.
In the second case, the work of the accountant is terminated and the company decides to manage its own accounts. Indeed, she will have to follow the following steps:
– become aware of the obligations related to his accounting,
– Set up his accounts,
– Enter current operations,
– Establish tax and social statements,
– Record all transactions at the end of the financial year,
– Perform tasks of inventorying and presenting the annual accounts.
The benefits provided by this mode of account management are however nuanced. There are also major disadvantages that arise when imposing a certain rigor such as the mastery of accounting techniques or the meeting of multiple knowledge in the accounting field.
In all cases, only managers and managers sensitized to accounting can avail of this alternative in order to reduce the costs associated with their accounting.
Reduce your accounting costs by joining an association
Joining a management center or an association such as the approved management center or registered management association seems interesting for a member of companies and for each individual operator subject to income tax. This gives them an exemption from a 25% increase in their profits. Joining this type of group also allows the accounting firm in Ixelles to take advantage of services such as monitoring training sessions, support during the establishment of the accounting records file, etc.