Accounting services are the most important part of every company. All Slovenian companies must keep accounting records and once a year make a balance sheet in accordance with the Law on Slovenian companies and in accordance with the Slovenian Accounting Standards and International Financial Reporting Standards.
Double-entry bookkeeping system
Double-entry bookkeeping is the most transparent way of recording. Under the system of double-entry bookkeeping keep their books all corporations, institutions, associations (with exceptions) and large entrepreneurs.
Double-entry bookkeeping is done on the basis of the chart of accounts to the general ledger, prepared by the Slovenian Institute of Auditors.
Regulations governing the area of accounting in the Republic of Slovenia are the Slovenian Accounting Standards, since 2006, the Slovenian company may also choose to use International Financial Reporting Standards.
According to the Slovenian Accounting Standards it is mandatory to conduct two major books – general ledger and journal.
In addition to the basic books are kept also analytical records that explain the basic general ledger accounts (eg. account of material, products, customers, suppliers etc) and other auxiliary books (eg. a fixed assets register imprest system book etc).
Keeping ledgers is not compulsory if authentic data, which is usually received on the basis of ledgers, is being provided another way (with the exception of fixed assets register).
Accounting services in Slovenia
Accounting services in Slovenia are an important business function of each company, which includes bookkeeping and accounting.
Bookkeeping is the recording of transactions in the books, accounting as a broader concept covers budgeting, accounting and business planning. Accounting for small businesses differs from accounting for large companies since the volume and complexity varies.
Accounting services as a business function should be organized within the company, but nevertheless micro, small and medium-sized businesses tend to prefer “outsoursing”, which is an external partner – accounting services.
The reasons for this behavior are certainly related to the costs, as the salaries of accountants range from 1.000 EUR on the net. It is also hard to find efficient and experienced staff in finance and accounting services, as well it is hard to employ an accountant in a small company.
Many micro businesses choose to keep their books themselves or with the help of family members, because they believe that the available software is not difficult. Problems arise at the first visit of inspectors or at the increased volume of business where bookkeeping is simply not enough, because of the growth of the company, the greater need for higher quality business planning and analysis of progress, as well as the optimization of costs and tax burdens.
The advantages of accounting services are, of course, professionalism and affordability (compared with regular employment).
In the major accounting services it is easier to combine comprehensive support for companies in their business (from booking to consulting, expert reports etc).
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