Accounting in Slovenia: accounting service or personal accountant – what to choose? All Slovenian companies are required to keep accounts. They have to have their own accounting service in Slovenia that manages accounting records and maintains accounting books but also delivers reports to the tax office (even if they have to report a zero). Once a year they have to prepare final tax report. It has to be in accordance to the Law on Slovenian companies and in accordance to Slovenian accounting standards and international accounting standards.
Managing accounting books for an LTD or branch office in Slovenia is carried out in accordance with the system of double entry. This does not mean »black« and »white« accounting; it is just a definition for the type of accounting in companies.
The double entry system is the most accurate and clear system in Slovenia. The rules regulating the field of the accounting in the Republic of Slovenia are called Slovenian Accounting Standards. But since 2006, Slovenian companies have the possibility to use international accounting standards.
The mandatory requirement is to maintain two entries in the general ledger and journal.
In addition to the general accounting books, it is necessary to keep a record, explaining the posting of the same type in the general ledger (for examples expenses for materials, products, customers, suppliers etc.) and in the additional ledger (for example, registry of fixed assets, cash journal). Establishment of additional books may not be necessary, if you can prove the accuracy of data in another way (excluding the registry of fixed assets).
Accounting in Slovenia is an important service for the business conduct of each country
Accounting is a broad term, which includes budgeting, accounting records and business planning. The volume of the documents and the methods of accounting are different depending on the company’s size.
In Slovenia, micro, small and medium sized companies prefer »outsourcing« – an external accounting service. The reason, of course, relates to the costs, since an accountant’s pay can be from 1.000 EUR NET and more. In addition, it is difficult to find and employ a capable, effective and experienced accountant for small companies.
Smaller companies often decide to manage the bookkeeping on their own. The problem may occure during the first meeting the with inspection offices. They check the correctness of bookkeeping, or when the amount of documents increases. When a company grows, the requirement for quality business planning, profit and loss analysis grows accordingly. It is of great importance to optimize costs and tax burdens.
The advantage of accounting services are professionalism and affordable prices. In larger accounting services, it is easier to combine comprehensive support for companies in their business conduct – from accounting, consulting to expert reports.
When starting your business, it is better to choose an accounting service, in order to minimize cost and bureaucratic red tape. The company DATA offers accounting services since the establishment of Slovenia. Experienced specialists help you in your business conduct in Slovenia and provide competent consultation in the frame of Slovenian legislation.
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