Why leave the bookkeeping to an external company?

When running a company, you have to deal with all sorts of issues on a daily basis. It doesn’t matter what segment you are in – in each you have to cover a wide range of activities, from the flawless delivery of a product or service to the end customer, to the selection of reliable employees, to the right marketing strategy. Leave the bookkeeping to the professionals! An external company can handle your accounting faster, but most importantly, more accurately. You won’t have to deal with this sector any longer and can concentrate fully on the development of your company.

What are the benefits of external bookkeeping?

• Save money

You pay a lump sum to the external company every month, which includes complex accounting processing. However, you save not only on the salaries of the in-house employee, but also on the workstation, the computer and the necessary training.

• You guarantee expertise

Don’t know how to properly account for goods purchased from China that you subsequently sold to the US? Instead of a lengthy internet search, an external company will simply sort it out for you.

• Ensure the required quality

In the case of an outsourced company, a team of specialists will look at these documents before the actual sending of the accounts or tax return. This way, fewer errors occur than with in-house bookkeeping.

• You delegate responsibility

In the case of bookkeeping by an external company, the liability for damages shall be borne by the company concerned. If you do your bookkeeping in-house, this responsibility is yours.

• Don’t worry about your documents

An external company will ensure that your data is not leaked or your documents are lost or copied.

• You will receive special services

Many companies provide comprehensive services. A team consisting of an accountant, a lawyer and a tax advisor will find the best solution to your questions.

7 reasons to choose Highgate Group for your bookkeeping

1. Law, tax and accounting under one roof

We provide legal, tax and accounting services. It’s cheaper, more efficient and better quality! If you are a small or medium-sized company, it is you who will most appreciate not only the price, but also the quality convenience that this combination brings. Why? Because with the increasing diversity of tax and accounting laws, it is increasingly necessary to consult two or even three advisors for any transaction. This is usually a lawyer, a tax advisor and an accountant. It is necessary for each of them to look at the matter from his point of view. If you have to arrange these three areas individually, you will have to prepare yourself for a higher price for advisory services or there may be a problem in the form of unnecessary taxation or lack of legal protection.

2. We are passionate about tax and accounting

We really enjoy tax and accounting. That’s why we write a lot of articles and blogs on topics we find interesting and will save you money. If you have an e-shop, get inspired, How to save money on accounting for your e-shop. We also work with well-known Slovak daily newspapers and economic media, for whom we are happy to provide an expert view on tax and accounting issues or explain the latest news in this area. We also participate in various events and organize our own conferences, for example in the HubHub in Bratislava.

3. We have a team of experts with the best experience

Our team consists of accountants with extensive experience from both small and large consulting and accounting firms. The founders of our company Peter Varga and Tomáš Demo can be proud of their experience gained from the largest business transactions in Slovakia! In cooperation with the rest of the team, Highgate Group guarantees that we will look at any legal, tax, and accounting problem in all its complexity.

4. We can help you even if you are a one-person eseroce

We are happy to welcome among our clients not only fast-growing and medium-sized companies, but also small one-person companies with one invoice per month. As our focus is always on making our work efficient, even with a small company we can provide cost-effective yet high quality bookkeeping. Another advantage is the aforementioned fact that you can gradually take advantage of all the services under one roof (including, for example, tax optimization) that you will need in the development of your business. If you are a sole trader, you will be wondering whether it is worth paying social security contributions for your pension, unemployment insurance or maternity insurance and how much. We will therefore be happy to advise you on how to set up your processes to make this as advantageous as possible for you. In the meantime, you can read our summary article on the advantages and disadvantages of paying social contributions.

5. We deal with tax and levy optimisation in detail

We focus on how to effectively reduce the tax and levy burden on our clients. Not only large multinational companies, but also one-person companies can be tax-optimised. As we are also a law firm, when advising on tax optimisation we always ensure that the proposed solutions are legally defensible. We also have extensive experience in scaling businesses abroad, as well as in the legal use of foreign companies, including offshore ones.

6. We can also advise you in the technical field

Bookkeeping is not just about uploading documents and we know it. That’s why we often look for solutions to technical requirements of our clients. We will recommend suitable applications for issuing invoices for your goods or services so that these invoices can be automatically imported into the accounting software. We also provide automatic import of payment gateways (e.g. via GoPay, PayPal, Adyen, Klarna, Revolut or Dotpay). For example, we can advise you on how an e-shop should correctly issue an invoice for cash on delivery. Our extensive experience with courier companies guarantees that you set up processes for orders delivered by courier companies in accordance with the law.

7. We focus on automation

As we are advocates of progress, we try our best to keep up with the times and technological innovations that make life easier not only for entrepreneurs but also for accountants, thus reducing the overall cost of accounting. For some of our clients, we have been able to get as low as 10 – 20 cents per accounting entry thanks to automation, while the average market price of an accountant is 1 euro.

We can also help you with the actual recording of cost invoices. Choosing the right invoicing system and the right link to your accounting software will ensure that you have online reports and outputs directly from your accounting system. We’d be happy to help you and look at whether this automation space is possible for your company.