Accounting office or own accounting in the company?

Biuro rachunkowe czy własna księgowość w firmie?

Aktualizacja odbyła się 19 stycznia 2023

When running a business, we often face the challenge of bookkeeping. Outsourcing of accounting services consists in bookkeeping by external entities, such as accounting offices. It is also possible to hire an accountant or an entire accounting team, depending on the needs of a given company. What is a better solution?

Accountant in the company

Hiring an employee involves considerable costs that must be borne by the employer. The cost is not only the salary itself, but also all kinds of overheads. In terms of pay, the position of an accountant usually requires a lot of salary, because in order to perform the profession of an accountant, it is necessary to have the appropriate education and constantly improve one’s qualifications. In addition, one person in the accounting department may not be able to handle all the responsibilities for larger businesses. Then it is necessary to employ more people, and with the increase in the number of positions, the costs increase. The costs of social security contributions, which will be charged to the employer, must be added to the gross salary. However, these are not the only costs he has to bear. Equipping a workplace, i.e. the purchase of a computer, desk, chair and office supplies, is a considerable expense. What’s more, you have to purchase an accounting program on your own, which requires paid updating along with changes in tax regulations. The costs incurred for the employment of an employee are tax costs, therefore they reduce the income tax base. The great advantage of hiring an accountant is the fact that she remains at the employer’s disposal throughout the entire period of work. It knows all the people in the company, so the circulation of documents is much easier than in the case of using the services of an accounting office. We gain a good, trusted employee, and in the case of financial matters, trust is a significant matter.

Accounting Office

Signing a contract with an accounting office for bookkeeping is often a decision of small enterprises that do not have enough invoices and other documents to provide accounting work. Does this solution work for larger companies? By entrusting accounting to an accounting office, you do not have to incur the costs of remuneration for the employee, overheads for remuneration and equipment of the position. The costs of purchasing the accounting software are covered by the accounting office. However, it should be borne in mind that accounting services are priced quite high in the case of larger enterprises that keep full accounting. A monthly invoice may amount to even several thousand zlotys, depending on the number of documents, possible inspections by tax authorities, as well as other guidelines contained in the contract. The upside is that accounting costs are tax costs that reduce the income tax payable. The entrepreneur also has the right to deduct VAT. In addition, clients of the accounting office can often count on advice on financial matters, especially if the office is run by a tax advisor. Unfortunately, not all offices employ highly qualified employees, which may result in errors in accounting and tax settlement. In addition, the accountant assigned to run our company may resign from work, so we may face frequent changes of the person in charge of finance. However, the wide range of accounting offices operating on the market allows each entrepreneur to choose a service that is suitable for them. The entrepreneur also has the right to deduct VAT. In addition, clients of the accounting office can often count on advice on financial matters, especially if the office is run by a tax advisor. Unfortunately, not all offices employ highly qualified employees, which may result in errors in accounting and tax settlement. In addition, the accountant assigned to run our company may resign from work, so we may face frequent changes of the person in charge of finance. However, the wide range of accounting offices operating on the market allows each entrepreneur to choose a service that is suitable for them. The entrepreneur also has the right to deduct VAT. In addition, clients of the accounting office can often count on advice on financial matters, especially if the office is run by a tax advisor. Unfortunately, not all offices employ highly qualified employees, which may result in errors in accounting and tax settlement. In addition, the accountant assigned to run our company may resign from work, so we may face frequent changes of the person in charge of finance. However, the wide range of accounting offices operating on the market allows each entrepreneur to choose a service that is suitable for them. not all offices employ highly qualified employees, which may result in errors in accounting and tax settlement. In addition, the accountant assigned to run our company may resign from work, so we may face frequent changes of the person in charge of finance. However, the wide range of accounting offices operating on the market allows each entrepreneur to choose a service that is suitable for them. not all offices employ highly qualified employees, which may result in errors in accounting and tax settlement. In addition, the accountant assigned to run our company may resign from work, so we may face frequent changes of the person in charge of finance. However, the wide range of accounting offices operating on the market allows each entrepreneur to choose a service that is suitable for them.

Mixed solution

Some entrepreneurs prefer a solution that combines both methods of accounting. They employ an accountant while entrusting certain issues to an accounting office. This cooperation usually works on the following principle: the accountant in the company performs all the necessary operations, while the accounting office deals with the preparation of tax returns. Moreover, it is usually also responsible for preparing the financial statements and closing the books at the end of the year. When deciding on such a solution, it should be borne in mind that not all accounting offices undertake accounting duties to a limited extent, because it is not always profitable for them. Tax matters are one of the most difficult and responsible in all accounting. In order to prepare the declarations correctly, it is often first necessary to check the correctness of the accounting entries, which is done by another person. It all depends on the price that you can negotiate with the accounting office. On the other hand, in the case of high costs imposed by the office, this solution may not suit the entrepreneurs themselves, so they have to choose between their own accountant or an accounting office. The cooperation of both parties is also very important, because accounting and then submitting tax returns is a whole process. In order to bring it to an end, each party should show a willingness to help each other, of course within the scope of their duties.