NETWORK OF CLOTHING STORES
The client conducts business in the clothing trade. Goods are imported from Europe and Asia and are sold to the final consumer through its network of retail stores across the Czech Republic. Due to their ever-increasing turnover, workload of their administrative staff and especially the high complexity of tax issues, the company decided to solve this situation through outsourcing.
The requirements of the client:
- accounting performed at the company headquarters due to the need for a constantly up-to-date overview of the assets and liabilities
- the physical presence of tax documents at the company headquarters
- quality accounting performed pursuant to the applicable legislation
The client’s employees store all tax documents in the accounting software Altus Vario. Once per month, an employee of the accounting firm EUROHELP exports the processed data into their accounting system. Based on the physical tax documents, the accuracy of the accounting of the individual tax documents is checked at the headquarters of the accounting firm. Subsequently, an employee of the accounting firm EUROHELP processes the VAT returns and other reporting obligations required by the applicable law to the Tax Office. The tax returns are prepared in Tax Edit software, which is used exclusively for the processing of tax returns and other reports for the government. The tax returns and other documents required by the Tax Office are sent electronically by an employee of the client, who sends the processed data through a data box. The advantage of this solution is the constant updating of the assets and liabilities of the company and the physical presence of the tax documents at the company’s headquarters. The most important advantage, however, is a guarantee of quality of the processed accounting and submissions for the Tax Office. Employees of the accounting firm EUROHELP are continuously trained and guarantee the accuracy of their accounting. Of course we are insured against possible damages caused by the activities we perform. Our accounting services also include advice on tax, accounting and personnel issues, which is another advantage of this solution.
The client’s business deals with haulage services. The company owns several trucks over 3.5 tons and currently has 12 employees. Haulage services are performed throughout Europe.
The requirements of the client:
The main requirements were to process invoices based on purchase orders and shipping documents and send these invoices along with the necessary attachments to the customers. Another requirement was to record costs and revenue distributed between the individual vehicles and trailers. The purpose of this requirement is to evaluate the profitability of the individual vehicles. The owner of the company also wishes to have access to the accounting records in order to have an up-to-date overview of the assets and liabilities, and access to invoices issued by the accounting firm. Another obvious requirement is high-quality accounting prepared pursuant to the applicable legislation and minimal communication with the authorities on their part.
Based on the above-mentioned requirements, invoices are issued by a nominated employee of the accounting firm EUROHELP according to the submitted purchase orders and shipping documents. After issuing these invoices they are sent by email as a pdf file to the executive director of the client and physically along with the shipping documents to the final recipient of the haulage services. Based on the further requirement, the costs and revenue are divided in the accounting into analytical accounts for each individual vehicle. Part of the monthly financial statement is an excel table which includes data from the accounting. Individual costs and revenues are assigned to the specific vehicles and the output is an overview of the total monthly costs and revenues for each vehicle. Access to the accounting records was resolved through a remote desktop connection. This approach allows the owners of the company to have a constant and up-to-date overview of the assets and liabilities, and access to the invoices issued by his company. In addition to these specific requirements, standard accounting and payroll operations are performed pursuant to the applicable legislation. The advantage of this solution is quality accounting and personnel and payroll administration pursuant to the laws of Czech Republic. A specific benefit for the customer is the ability to access the accounting system and thus have a constant and up-to-date overview of the company’s assets and liabilities. In addition, monthly summaries of revenues and expenses divided among the owner’s fleet facilitate the evaluation of the profitability of the purchase orders. Employees of the accounting firm EUROHELP attend training several times a year. The accounting firm provides a guarantee of the accuracy of its accounting (as opposed to the situation where a company has the accountant as an employee) and in the case of damages caused by its activities it is insured with the company Kooperativa to the sum of 10,000,000 CZK. The accounting services also include advice on tax, accounting and personnel issues.