When your business needs an accountant

Many new businesses put off hiring an accountant "until we grow". Then the first ATK fine arrives for a forgotten zero return. An accountant isn't a luxury, but you don't always need one from day one either. Here's how to decide.

What an accountant does#

• Keeps the books, recording incoming and outgoing invoices, payments and cash;
• prepares and files tax returns in EDI (VAT, payroll tax, contributions, advance payments, the annual return). See Filing taxes in EDI;
• runs payroll and calculates contributions for employees;
• prepares annual financial statements where required;
• advises on your tax regime, VAT, deductible expenses and deadlines;
• represents you, or sits with you, during ATK inspections.

When you really need one#

You can manage yourself, carefully, if you have:

• a B.I. with no employees, outside VAT;
• a handful of invoices a month;
• the discipline to meet deadlines and keep records.

You need an accountant if:

• you have an SH.P.K. or another form with full accounting;
• you are, or will be, VAT-registered;
• you have employees;
• you import or export;
• you have a bank loan or apply for grants that need proper statements;
• you don't have the time or interest to follow tax law.

If you're still choosing a legal form, accounting cost is one of the practical differences between a B.I. and an SH.P.K. See Individual business or SH.P.K.?.

What it costs#

There's no standard fee. The price usually depends on:

• invoices per month;
• employees;
• VAT, which adds work;
• the legal form and annual statements;
• extras, such as representation at inspections or grant applications.

For small businesses, most accountants charge a fixed monthly fee. Get at least two or three quotes and ask exactly what's included.

How to choose one#

1. Credentials. Check they're a certified accountant or work at a firm with certified professionals.
2. Experience in your sector. Hospitality, construction and import trade each have their own quirks.
3. Communication. Do they reply within a day? Do they explain things clearly?
4. EDI access. They should file under a delegation, not with your personal password.
5. A written contract. Spell out what's included, your deadlines for sending documents and who pays if a deadline is missed because of their delay.
6. References. Ask other businesses. You can also find accounting firms on Kerko, by municipality.

What stays your responsibility#

Even with the best accountant, the business remains responsible towards ATK. Your part is to:

• send all documents on time, not on the 19th;
• keep personal and business money apart. See Business bank account;
• read what you sign.

A good accountant doesn't replace your attention, but makes it much easier.