Is it necessary to outsource the bookkeeping in the business?
Accounting: Outsource or do it yourself as a founder?
Hire a tax advisor
When you hire a tax advisor to keep your books, he can not only do the complete bookkeeping for you. The tax advisor is also authorized to make the summary report of intra-community deliveries, the advance VAT returns and the annual accounts. The former is a tax exemption that is stipulated in sales tax law. As a result, no sales tax has to be paid in the country of the provider for cross-border deliveries within the EU. This is collected in the acquiring state. The delivering entrepreneur must point this out to his customers and also document this fact in the bookkeeping. It is also your job to take care of the creation of travel expense reports, hospitality receipts and your own receipts. The specialist can also take over your private income tax return.
If you have decided to hire a tax advisor to take care of your bookkeeping, all you have to do is collect and sort documents. The tax advisor will then check the completeness of your documents and send you regular evaluations of developments and figures and inform you in good time about the submission dates.
Hire an accounting office
According to Section 5 of the Tax Advisory Act (StBerG), an accounting office is not allowed to advise its customers on tax matters. However, it is legitimized to take over your bookkeeping. Your accountant responsible controls and documents all business transactions. The main difference between a tax advisor and an accounting office is that the latter is not qualified to prepare the annual financial statements - i.e. balance sheets, profit and loss accounts and income-surplus accounts. If the accounting office handles your annual financial statements, these must also be checked by an auditor.
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