Accounting for small and medium-sized companies, as we know it today in Slovakia, will not survive the current technological development. We strive to implement these technological innovations, also because they reduce the overall costs not only for the client, but also for us. We recommend suitable invoicing applications to our clients so that they can be automatically imported into the accounting software, we extract and try to digitize. We can recommend suitable applications that act as a data repository for the client and also have integrated approval processes with the ability to export payments directly to the bank. For companies that have an e-shop we provide automatic import of payment gateways (for example, via Stripe, GoPay, PayPal, Wise or Revolut).
For some of our clients, thanks to automation, we have been able to get as low as 10 – 20 cents per accounting item even with incoming documents , while the average market price of an accountant is 1 euro. Just selecting the right invoicing system can also help with the actual recording of cost invoices, and with an effective link to the accounting software, the right invoicing system can provide online reports and outputs directly from the accounting system. Whether such scope for automation exists at a client is, of course, individual. Automation of accounting processes helps not only the client, but also us, as it reduces the volume of low-skilled work, which is already very expensive today, and helps us to focus on services with higher added value. And these are things like tax optimization, setting up controlling, accounting per centers/activities/contracts, for smaller companies replacing CFO, financial reporting and setting up an automated and efficient process to operate.
Most of our accounting clients (including the smallest ones) use our services to efficiently set up their tax and tax burden. Not only multinational companies, but also medium-sized and smaller Slovak companies are able to optimise. As we are also attorneys and tax advisors, our job is to look for solutions that have the potential to be defensible. At the same time, we try to show our clients in which cases a tax optimization technique already interferes with the criminal law.
In addition, our law firm is Tax Law Firm of the Year in 2023 and 2024, we organize the largest legal-tax conferences in Slovakia on the topic of tax optimization and the search for legal techniques and methods. Recent conferences have been held, for example, on the following topics: employing freelancers – where is the line?, tax investment structures, tax optimisation for IT and digital companies or employee share ownership (ESOP). At the same time, we have extensive experience in scaling businesses abroad, as well as in the legal use of foreign companies, including offshore ones. Thus, we provide legal, tax and accounting services under one roof, which has the potential to be a more efficient (i.e. cheaper and better quality) service, mainly due to synergies.
These are the most widely used legal documents in practice, so you don’t have to “google” them or pay other legal advisers to draw them up (e.g. loan agreement, employment contract, sole shareholder’s resolution, purchase agreement, share transfer agreement).
Probably every one of our clients is interested in when they can “employ” labour as a sole trader, what the penalties are, how to set up a contract with such a contractor. Several clients are also interested in what tax optimization options exist or how to set up employee stock ownership plans (ESOPs) at their company. On all these topics, we have organised conferences with detailed content, for which you can see the recordings.
As an accounting client, you have access to a wider range of video courses delivered by Peter Varga on a variety of practical business topics.
We will make the best Slovak online invoicing system Superfaktúra available to you free of charge (also for your mobile phone), where you can issue invoices, register cost invoices, or automatically send reminders to your clients after linking with the bank.
You can consult on various business topics such as taxation of cryptocurrencies, use of foreign companies, the shvarc system, sole proprietorship vs. LLC, setting up investment funds, employee stock ESOPs. You can find the consultation topics here.
When setting up accounting systems, we do not only focus on the technological aspect, but also on its “cleaning”. Often we have client accounts that come to us that not only need to be set up, but also cleaned up. Having transparent accounting is important not only for the convenience of the owners and to avoid penalties from the tax authorities (e.g. for improper accounting of development activities, accounting for contracts, use of crypto assets), but also as a demonstration for an investor or a prospective buyer.
In our legal-tax practice we have been on the side of a number of buyers or investors, where not only financial/accounting indicators, but also administrative (accounting) “orderliness” of the owners of the company played a primary role in deciding whether or not to enter the company.
Just check out the Linkedin profile of our founder Petr Varga and you will know how many legal, tax and accounting topics we set the trend in Slovakia. These are, for example, attractive topics such as “Using a car for business purposes“, “Putting your watch into expenses” or “Taxation of ETF funds“, about which Peter Varga writes and lectures. In addition to these activities, as well as our professional conferences, we write a number of articles as part of the Highgate Group, assist states in drafting better legislation (e.g., assisting states in creating the legal environment for taxing ESOPs, cryptoassets, creating investment funds, superannuation or patent box applications), and educate on accounting automation (see our conferences, collaborations with technology partners, and articles on our website).
Law & Tax
Tomas Demo
tomas.demo@highgate.sk
Accounting
Peter Šopinec
peter.sopinec@highgate.sk
Crypto
Peter Varga
peter.varga@highgate.sk
Highgate Law & Tax
Nivy Tower, Mlynské Nivy 5,
821 09 Bratislava
Slovak Republic
Highgate Accounting
Nivy Tower, Mlynské Nivy 5,
821 09 Bratislava
Slovak Republic
E-mail
info@highgate.sk
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Group? Get in touch at
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