There are many questions that people have conserning accounting and financial management in general. We answer here to the most common inquiries made by our clients about accounting, financial administration and accounting office cooperation in genral. Accounting And Financial Management Service Tilityy's sales and customer service is happy to answer additional questions.

New questions and answers are published regularly. If you do not find an answer below, please feel free to contact us.


The questions and answers are organized by topic. For example, questions and answers regarding the services available by Tilityy can be found under the heading "Services Provided by Tilityy". Similarly, for example, questions and answers related to salaries can be found under "payroll". You can also use the site's search function.

 

Questions topics

 


Accounting materials and their delivery


 

 


Audit


When is it necessary or an oblication to choose an auditor?

An auditor may be elected and have an auditing made whenever an operator so decides. However, this is, for example, a significant additional cost for many companies and, in the cases selecting an auditor is not mandatory, it is often not selected.

The criteria for when an auditor is required, an auditor is mandatory or choosing an auditor is not mandatory comes from the law (Tilintarkastuslaki Act). It defines the criteria by which operators general obligation to select an auditor may be waived.

According to the law, a limited liability company (Oy, inc, ltd) must elect an auditor and acquire an annual audit if two or more of the following criteria have been met in the past financial year and in the financial year before it. Conversely, the fulfillment of only one criterion does not yet lead to an obligation to elect an auditor, unless the articles of association of the company state that the auditor must always be elected.

The criteria for when an auditor is mandatory

● in accounting, the balance sheet total is more than 100'000 euro
● the company's turnover (or equivalent income) is more than 200'000 euro
● The company employs more than three people on average

For example, the fact that a limited company has four or more employees does not mean that the auditor must be elected. Addiotionally also one or more of the other of "the criteria for when an auditor is mandatory" must be fullfilled; a balance sheet value of more than 100'000 euro or a turnover of more that 200'000 euro. If, then will the election of the auditor become mandatory. And this is the case if the criteria are met for two consecutive financial years.

It means that in the first year in which two or more of the above criteria have been met for the previous financial year, it is not yet necessary to elect an auditor. But, if two or more of the above conditions have been met for two consecutive(!) Financial years, the auditor is obliged to choose.

There are, of course, exceptions, and for example, for operators whose main activity is ownership and management of securities, choosing an auditor may be mandatory regardless of the criteria linsted above. In housing companies (asoy), an auditor must be elected if the buildings or premises it manages have 30 apartments or more or a certain number of the shareholders of the housing company so request. In a cooperative, the selection of an auditor is based not only on the cooperative's rules but also on the possible election demand of its members. Foundations must elect an auditor on the basis of the Säätiölaki Act. On the basis of existing legislation, it is possible for associations to elect an auditor or one (or more) operations inspector instead (without a need to change the excisting rules), that can also be a layperson.

When is an auditor needed? Tilityy recommends that if the financial situation of an operator allows, it is always good if its management and financial status is inspected by an auditor or operations inspector. An auditor or operations inspector will review the decisions made in the organization and their compliance and the accounting and other financial materials of the financial year. An auditor or operations inspector is a partner who helps prevent financial errors and brings external expert insight into monitoring finances and operations. 


Approved expenses


What can be reduced as workwear costs?

Workwear is at the same time a simple and complex operating cost. In principle, workwear and protective equipment that are directly related to the work to be performed and which cannot be used by the employee outside the work are eligible as deductible expenses The same goes for work shoes and other accessories. For example, it is not enough to have the employer's logo printed on a collar or t-shirt. If it is possible to use the shirt in question, for example for hygiene reasons only at the workplace, this may be a deductible workwear cost. Employer’s demand for a particular type of clothing (color, formality, or the like) is not sufficient argument for deductibility.

In practice, of course, work clothes purchased and paid by the employer are handled in the bookkeeping. However, their acquisition cost or the value added tax (VAT) may cannot be deducted if the deductibility criteria is not met.

In general, accountants are more likely to say no than yes to questions about the deductibility of workwear expenses. On the one hand, there are clear yes and no groups for these costs, but there is a huge gray area between them, where the possibility of non-work use is specifically being considered.

Exceptions to normally non-deductible work shoes and other work clothing and accessories can be workwear prescribed by a physician or other registered health care professional as "necessary for performance at work", such as ergonomic shoes related to physical performance, display goggles, and the like. They may be deductible for employer's or employee's taxation and it is important to check in advance who should make make the purchase.

Another criterion for the deductibility of ordinary clothing acquired by an employer as workwear can be a distinct soiling or wearing of the clothes caused by the performed work, if as a result the clothes could not be worn outside work.

Ensuring the deductibility of workwear in advance is important from the point of view of both the employer and the employee in order to avoid unpleasant surprises. For the employer, the risk is that costs are afterwards not accepted as deductible expenses in taxation. For the employee, the risk is that the work clothes given by the employer are taxed as a salary supplement. In both cases it can mean taxes to be paid retrospectively by both parties.

Tilityy's examples of situations in which an acquisition can be treated in bookkeeping as a deductible workwear expenses

● generally workwear for employees of a factory, production plant, construction or forestry site, maintenance company or similar, as well as other protective equipment necessary for the work, such as gloves, helmets and the like
● working clothes for the restaurant's kitchen staff (chefs, kitchen assistants), aprons for the serving staff
● work clothes and accessories for nurses, institutional cleaners and others who wear special work clothes in working conditions requiring special hygiene (work clothes and hats for nurses, bakers and the like)
● safety footwear and other protective equipment which is directly necessary due to the nature of the work to be performed (occupational safety)
● beekeeper's coveralls and gloves (but not boots or shoes)
● in general, uniforms, such as uniforms for police officers, priests and the like in positions requiring special clothing, but excluding clothes under the uniforms, such as t-shirts, trousers and the like
● clothes and accessories for hairdressers and barbers, but only if they easily and typically get significantly damaged or get permanently stained during work, for example due to the handling of hairdressing chemicals (hair dyes and the like)
● protective masks, visors and the like purchased as a result of a coronavirus pandemic (COVID-19) or other dangerous pathogens, even if they would not be deductible under normal circumstances
● T-shirts and the like purchased for an individual campaign and that have significant campaign printing that restricts the use of the cloth outside the work (can also be a marketing cost)
● security guard's overalls and safety shoes, with the exception of normal clothing worn under the coveralls and guard's clothing which do not require special technical demands (such as durability)


And examples where work-related clothing purchases cannot be deducted in accounting

● the usual clothing used by a cleaning and maintenance worker who could also be worn outside of work (for example, the fact that the t-shirt has the employer's logo may not yet be sufficient to justify the cost of workwear)
● party, gala or performance costumes of a guest or performer, if they can also be worn outside the work task
● work shoes of a person performing office work or work with a similar low risk of accidents, even if they are for indoor use only
● the usual clothing of a teacher, taxi driver, accountant, or other customer service representative
● more formal clothing and accessories of a bank clerk, consultant or company management
● Ergonomic or safety footwear purchased from a specialist retailer which are not not required due to the nature of the work
● clothing and accessories of a person working in a clothes shop, even if they are to be worn at work in a marketing purpose
● basic clothing worn by a physiotherapist, masseur, beautician or similar person as their work clothes (with the exception of a special work uniform used in the job)
● basic clothing of a barber, hairdresser, nail technician or a person working in a similar profession when there is no obvious risk of permanent staining
● physical education instructor's running shoes or other sports equipment
● window washer's workwear if it does not become particularly and permanently soiled during work (cannot be cleaned by washing)
● hiking shoes and other clothing from the wilderness or experience guide

The examples listed above are only examples. Changes and exceptions are possible. In the case of workwear, the deductibility and whether deductible expenses should be acquired by the employer or the employee is always assessed on a case-by-case basis by Tilityys accounting experts.


Can a limited company entrepreneur receive kilometre allowances or other travel allowances?

Most entrepreneurs want to maximize their tax benefits from their business and that is excellent! Business travel allowances should be taken into account in accounting and taxation, even in small amounts. They are deductible expenses for the company and correspondingly tax-free income in the entrepreneur's personal taxation.

It is important to remember that kilometre allowances and tax-free travel allowances paid must, without exception, be reported to the Tulorekisteri ("Incomes Register") within five days (not weekdays) of payment. Possible paid travel expenses (such as accommodation and parking costs) are not reported.

In a limited company, the entrepreneurial owner's business trips are defined as trips to special working places outside of the the actual fixed place of working. Trips to own business premises, office or company's offices in normal working area are therefore not taken into account, but visits to customers, other business trips and transports are taken into account and as a limited company owner you can pay yourself the following tax-free travel allowances from the company:

● Per diem allowance, daily allowance (partial per diem or full per diem)
Check the current amount of per diem from Tax Administration or your accountant. In addition, the general requirements for distance and duration of the business trips must be taken into account.

● Kilometre allowance for using your own car
it is important to remember that a kilometre diary is a demand as a basis for kilometre allowances. It can be an digital spreadsheet, a paper version or, for example, a mobile application. It is important that the logbook contains all the required work and private driving data, including driving times, kilometre, destination and work related reason for the driving. The amount of the kilometre allowance is affected by, for example, the number of people being transported.


In accordance to Tilityy's customer instructions, the following criteria must be met in order for the trip to be considered as a business trip, from which tax-free travel allowances can be raised

1. Trip is an actual business trip
The trip must meet the criteria of the Tax Administration's definition of a business trip. According to them, a business trip is a temporary trip made to a specific place of work for work purposes. So what is a special place to work? It refers to a place where working is temporary. It cannot be, for example, driving to your own office, but, for example, driving from home or from the office to a client and back are business trips.

2. The vehicle used is not a company-owned vehicle
The motor vehicle used must therefore be your own, borrowed from an friend or for example rented by you. The main thing is that the vehicle is not property of the company. When the car is owned by the company, no kilometre compensation can be paid for its use, but the operating costs of the vehicle are the company's deductible expenses. There is no link between the payment of tax-free kilometre allowances and per diem allowances. Where, in the case of kilometre allowances, it the vehicles accepted are more precisely defined, when the per diem allowance is paid, the journey may actually have been made by any way of travelling, including public transport and company-owned vehicles.

Duration of the business trip (affects the per diem allowance paid)
The duration of the business trip affects the amount of tax-free daily allowance to be paid. According to the existing legislation, part-time/half-day allowance can be paid for a journey of 6 to 10 hours, and full-time allowance for trips lasting longer.

Travel distance of a business trip (affects the per diem allowance paid)
It is important to remember that even if business trip kilometres may be reducted when for example travelling to a nearby customer (when the other requirements are fulfilled), right to make an additional per diem allowance reduction is possible only if also the following requirements are met:

1. The journey must be more than 15 kilometers from your actual place of work or home, depending on which is the starting point for the journey
2. The destination of the business trip must be at least five(5) kilometers from your home AND any actual workplace/working point


Receipts required by the Accounting And Financial Management Service Tilityy of its customers for the payment of tax-free business travel allowances

Tax-free business travel allowances paid must, without exception, have a receipt. Most often it is a travel invoice made by the recipient of the business travel allowance.

The minimum content requirements for a travel invoice are

1. place and time of departure
2. destination and arrival time
3. An explanation of the purpose of the trip
4. Distance in kilometers
5. Description of the way of travelling (vehicle with identification if necessary, purchased tickets, etc.)
6. If the travel invoice contains also business trip expenses, the original documents must be attached to the travel invoice


Tax-free travel allowances for workers in special sectors (including construction, civil engineering and forestry)

In accordance with the detailed instructions given to Accounting And Financial Management Service Tilityy upon request by the Tax Administration, the owners of limited companies are not placed in a special position compared to employees regard to tax-free travel allowances. The salary paid or unpaid from the company has no effect on the matter. Therefore the same the special guideline on business travel allowances in special sectors is followed, which has an impact on the payment of kilometre and per diem allowances.

As the entrepreneurial owners of limited companies in most cases also have administrative tasks, special attention must be paid to the working conditions of the entrepreneurial owner regard to tax-free travel allowances.

The general rule is followed instead of the special rule, for example, if

1. the entrepreneur has a rented office or space in connection with the home for the performance of administrative tasks or, for example, for the maintenance and upkeep of work equipment
2. there is another own or leased space, for example for administrative tasks, which meets the definition of an actual/permanent workplace 


Can the sole trader entrepreneurs and other self-employed individuals raise tax-free work travel allowances?

Sole trader entrepreneurs and other self-employed individuals can not pay themselfs tax-free kilometre or per diem allowances. However, they may, when the conditions below are met, require increased living costs from business travelling to be considered as additional reductions in the entrepreneur's business tax return.

Business trips made by the sole trader entrepreneurs and other self-employed individuals are defined as trips to special working places outside of the the actual fixed place of working. Trips to own business premises, office or company's offices in normal working area are therefore not taken into account, but visits to customers, other business trips and transports are taken into account as business travel expenses.


In accordance to Tilityy's customer instructions, sole trader entrepreneurs and other self-employed individuals may request business travelling cost as an ADDITIONAL REDUCTION in the business tax return of a person's business operations when

1. Trip is an actual business trip
The trip must meet the criteria of the Tax Administration's definition of a business trip. According to them, a business trip is a temporary trip made to a specific place of work for work purposes. So what is a special place to work? It refers to a place where working is temporary.

2. Less than half of your annual driven kilometers are related to business operations
In that case, an additional reduction, size of the kilometre allowances, may be required as increased cost of living

3. If business operations significantly involve business travelling, sole trader entrepreneurs and other self-employed individuals may also demand an additional reduction based on the increased business related living costs (dining on the way and similar)

Duration of a commuting trip (influences the per diem reduction)
The duration of the business trip affects the amount of tax-free per diem allowance that can be reducted. According to the existing legislation, business trips of 6 to 10 hours give a right for an additional reduction of an amount of a partial per diem and a longer trips for a full per diem.

Distance of a business trip (influences the per diem reduction)
It is really important to note that, even if kilometre compensation can be reduced when the other requirements are fulfilled, the trip to the customer, even though the customer was located close to the restoration of the daily allowance, the following requirements are based on the following requirements:

1. The journey should be targeted over 15 kilometers from your job or your apartment depending on which one is a starting point for a community
2. The destination of the community should be located at least five (5) kilometers from your home and from your possible actual workplate / point


Receipts/documents requested for the business tax return of a person's business operations, when reporting an additional reductions based on the increased living costs (reported business travelling costs)

Sole trader entrepreneurs and other self-employed individuals must document all business travelling that they demand to be taken in notice as increased business related living costs in their business tax return. What, in practice, is needed is driving log and possible other cost receipts.

The minimum content requirements for the driving log are

1. place and time of departure
2. destination and arrival time
3. An explanation of the purpose of the trip
4. Distance in kilometers
5. Description of the way of travelling (vehicle with identification if necessary)
5. In the case of a motor vehicle, the odometer reading at the beginning and end of each working trip
6. Receipts for increased other living expenses (dining, accommodations, etc. during commuting)

 
Sole trader entrepreneur's or another self-employed individual's ACTUAL BUSINESS TRAVEL COSTS can be reducted in the company's accounting when

1. The business travelling in question meet the criteria
The trip must meet the criteria of the Tax Administration's definition of a business trip. According to them, a business trip is a temporary trip made to a specific place of work for work purposes. So what is a special place to work? It refers to a place where working is temporary. 

2. More than half of the annual driven kilometres is commuting
Your car is seen "as property of the company" when this criteria is met and you may reduct in accounting all the actual costs from the business use of the car, such as fuel, insurance contributions, and maintenance and repair costs. Different additional reductions in kilometre compensation is not permitted.

3. If business operations significantly involve business travelling, sole trader entrepreneurs and other self-employed individuals may also demand an additional reduction based on the increased business related living costs (dining on the way and similar)

Duration of a commuting trip (influences the per diem reduction)
The duration of the business trip affects the amount of tax-free per diem allowance that can be reducted. According to the existing legislation, business trips of 6 to 10 hours give a right for an additional reduction of an amount of a partial per diem and a longer trips for a full per diem.

Distance of a business trip (influences the per diem reduction)
It is really important to note that, even if kilometre compensation can be reduced when the other requirements are fulfilled, the trip to the customer, even though the customer was located close to the restoration of the daily allowance, the following requirements are based on the following requirements:

1. The journey should be targeted over 15 kilometers from your job or your apartment depending on which one is a starting point for a community
2. The destination of the community should be located at least five (5) kilometers from your home and from your possible actual workplate / point


Receipts/documents requested for the accounting for business travel expenses

Sole trader entrepreneurs or another self-employed individuals must document business travelling using a driving log, if they want the expenses to be taken in notice in the accounting.

There must be, without exception, receipts for all expenses (fuel, insurance, maintenance and the like). There must also be needed documentation for the business travelling if an additional reduction based on the increased business related living costs (dining on the way and similar) is demanded in the business tax return of a sole trader entrepreneurs or another self-employed individual. In minimun, following receips or documents are needed for each business trip (for the per diem reduction):

1. place and time of departure
2. destination and arrival time
3. An explanation of the purpose of the trip
4. Distance in kilometers
5. Description of the way of travelling (vehicle with identification if necessary)
5. In the case of a motor vehicle, the odometer reading at the beginning and end of each working trip
6. Receipts for increased other living expenses (dining, accommodations, etc. during commuting)

 

Special sectors (including building, construction and forest sector)

are not placed in a special position compared to employees regard to business travel allowances. Therefore the same the special guideline on business travel allowances (right to make reductions) in special sectors is followed, which has an impact the reducting of kilometre and per diem allowances.

As the sole trader entrepreneurs or another self-employed individuals in most cases also have administrative tasks, special attention must be paid to their working conditions. The general rule is followed instead of the special rule, for example, if

1. sole trader entrepreneur or another self-employed individual has an office or other working space in connection with the home for the performance of administrative tasks or, for example, for the maintenance and upkeep of work equipment
2. there is another own or leased space, for example for administrative tasks, which meets the definition of an actual/permanent workplace


Costs and payments


What does accounting services cost?

The price of accounting is based on the services needed by the customer. Where some operators want only basic bookkeeping, other operators need, for example, self-assessed tax reporting or payroll services. The size of the customer (= amount of work generated) also greatly affects the price.

Especially for new companies, whose volume of activity still varies a lot, it is difficult to provide accurate estimates of annual financial management price. As a general rule, it can be said that the basic financial administration service costs of a small operator (association, small company, etc.) are 2,5 % to 3,5 % of the turnover of the financial year. For example, the accounting and basic salary calculation costs of a operator with a turnover of 100'000 euro are 2500 to 3500 euro per year. Correspondingly, for large operators, the costs of financial administration services are slightly lower compared to the annual turnover, approximately 1,0 % to 1,5 %. For example, with a turnover of one million euro, the costs of financial administration are about 10'000 - 15'000 euro.

There are a lot of service provider companies and competion on the financial management sector. The margin in the prices of accounting companies is moderate. When requesting offers for services, it is important to first think about what you need. For example, is there a need for a designated accountant, advisory services or reporting, for example. Each service area pays for and affects total accounting costs.

Tilityy offers two different pricing models to choose from. Fixed-price monthly package includes periodically all the services agreed in the financial management services agreement contract. You can also choose an hourly pricing that adapts to changes in the accounting workload. On average, Tilityy's annual invoicing for basic accounting services has been for the smaller operators 2,68 % and for large operators 1,43 %.

 

Why does the accounting company need information on receipt quantities and the like to make an offer?

As in most areas of the service business economy, the price of financial management services is based on the time it takes to get the job done. The average charge for one working hour is 50,00 - 180,00 euro. The hourly price is affected by whether the work requires the input of a specialist or a basic expert in financial management.

The number of receipts, account statements, number of employees and other such is asked as the accounting firm has knowledge how much time it takes to process an individual invoice, bank statement or card purchase receipt, for example. And having as exact understanding as possible on the total number of documents, the accountant is able to calculate the working time needed for the requested services and the price at which the services are provided.

Nowadays, as digital accounting systems become more widespread and many customers deliver their receipts through mobile apps and the like instead of taking them to the bookkeeper as traditional paper receipts, pricing may be influenced by the pricing of the application's vendor that can be based on number of transmitted documents.

As accurate estimate of accounting materials (receipts, invoices, statements and the like) as possible prevents any unpleasant surprises on both sides. A representative of an accounting company will certainly be happy to always help potential clients in assessing a realistic amount of documents and materials.

Tilityy's basis for pricing services is time. The offers given to customers are therefore based on information gained from years of experience on how many receipts, for example, we in Tilityy, can included in one working hour. Whether it is a fixed-price service package or an hourly fee, working hours are monitored with a special customer-specific working time tracking system.

 

Why do I pay a different price for the same service each month?

There are many reasons why the same service would appear to be charged with a different price in different months. If you have agreed with our accountant on fixed pricing (for example, a monthly service package), the price may be increased by the additional services you have requested during the invoicing period. This may also be due to unusual, more challenging accounting materials or situations that are not generally included in the basic service packages, but are invoiced separately.

Of course, the starting point should be that the existing fixed-price service package has been negotiated in such a way that it has flexibility on both sides, and there will be no surprises on a regular basis. If there is a lot of monthly variation, you may want to discuss with our accountant about the situation and perhaps needed changes. There could be a misunderstanding or, for example, a problem with the materials provided.

If the service you purchase is time-based, the total cost the service you pay for each accounting period is based on the working time used by the accountant. Where in the service packages actualized working time may in some periods be more and in others be less than the agreed total without it having an effect to invoicing, periodical time-based total price can vary significantly.

Tilityy's fixed-price service packages are negotiated with the customer and additional charges invoiced are rare exceptions. Almost always, the extra charge is based on additional work agreed with the customer, and the higher-than-usual charge for the accounting period does not come as a surprise. In addition, there are some irregular special costs - that still are agreed in the financial management services agreement contract - such as those based on law, which can be charged from the customer without a separate agreement.

Such are, for example, the customer due diligence requirement based on The Act on Preventing Money Laundering and Terrorist Financing that oblicates Tilityy to identify and know its customers. For this purpose, Tilityy has a special customer due diligence procedure that is targeted for a customers on average every 1-2 years. The customer due diligence procedure is oblication for Tilityy and the customer and its costs are paid by the customer. The additional cost of the customer due diligence procedure is on average 100 - 200 euro. The customer due diligence procedure, as well as any work that causes additional costs, is communicated with the customer in advance.


General questions about financial management services


What does an accountant do?

There are certainly as many definitions of an accountant and the work an accountant does as there are those who give it. In summary, it could be said that an accountant makes bookkeeping based on the accounting materials provided by the client. There are various accounting programs in use that an accountant utilizes in his or her work. Once the bookkeeping has been completed, the accountant creates reports based on it and makes, for example, official statements, such as various tax reportings in the end of each accounting period and financial year.

The accountant as a title is a bit outdated, but no better one has been invented for use. In reality, the work of an accountant is very wide-ranging, and in addition to basic bookkeeping, the accountant's responsibilities often include tasks and acting as an expert in areas such as payroll, business advice, tax expertise, corporate law and management, and many other areas of business. The work is office-oriented and very independent. Acting as an accountant requires precision and analytical personality. Good customer service skills are also an absolute requirement, as the work of an accountant is based on mutual confidential interaction with customers.

In Tilityy, an accountant means a trained financial administration professional who is responsible for processing accounting materials provided by the customer, making the bookkeeping and creating financial reports. In addition to the accounting, Tilityy's accountants, for example, manage customers' sales and purchase ledgers, calculate salaries, pay bills, provide basic business advice and perform many other tasks.

Although the main task of an accountant is customer-oriented service work, in Tilityy, the accountant is seen as a kind of filter or transformer between the customer and the authorities. It is accountant's task is to receive the financial management materials and wishes provided by the client and to process them, using expertise, in such a way that they meet the requirements of good accounting practice, law and regulations. The accountant is responsible for the reliability of the various reports, applications and official reports made based on the bookkeeping. In addition, the accountant's important special tasks include providing the client up-to-date financial information to support financial administration.

In Tilityy, the most significant difference between the title of an accountant and a financial management expert is related to time; when acting in the role of accountant, the accountant is like a historian who handles past (invoices, receipts, and other supporting documents of things that have already happened), with a responsibility to record history as it actually occurred. The accountant should know the trail of each document from birth to the financial statement. In a role as an financial management expert, the accountant looks more to the present and the future, helping clients with methods of advice, expertise and investigation.

In Tilityy, there is one particular unifying factor in both roles of accountant; an accountant is not an expert and knowledgeable about everything, but a professional who knows how to learn and embrace and search reliably for the information needed to the job at any given time. Each Tilityy's accountant has a special “financial management Me” that consists of all the basic features relevant to the accountant’s job.


Why not do the accounting myself but select an accountant?

Software and mobile applications are increasingly available for self-accounting. However, they do not come with the necessary skills and know-how. In the end, a very small part of accounting is making simple entries, that are easy to make by reading instructions. The major part requires special expertise on taxation, accounting, and legislation in general. Although the law does not set requirements for the training of a person in charge of accounting, there are, for a good reason, basic, vocational and special vocational qualifications lasting several years, as well as suitable university, university of applied sciences and postgraduate studies. An accountant is a professional in the field of financial management who has a wide range of knowledge of accounting and related legislation.

In addition to expertise, another general reason for outsourcing accounting to a professional accountant is the time required for accounting work. Doing the accounting yourself easily takes several hours, where a professional does it much faster. The most significant missing resource for many entrepreneurs and companies is time, and outsourcing accounting frees it up, simultaniously bringing reliability to financial management.

Tilityy recommends using an external accounting professional whenever one is not available on your own behalf. Tilityy has been operating since 2000 and instead of wanting to sell services, recommending an accountant is a matter of understanding the realism and requirements of financial management, brought by years of experience. Accounting is not just the fulfillment of a legislative oblications, but the basis for the knowledge and fact-based management of the activities of any company or operator. Financial interpretation and reporting based on accounting, as well as a usable level of financial information obtained from accounting, are what Tilityy's customers actually pay for.


What services does an accounting firm offer?

The services provided by an accounting company depend on the operator. Some provide only basic accounting, some extensively all possible financial management services. There are also accounting firms that focus only on payroll services, as well as those that provide auditing in addition to basic financial management services. Certainly, most of those who work as accountants need to manage, at least in addition to accounting, payroll and financial reporting, as they are certainly the most common of the services of accounting companies.

Tilityy provides a wide range of basic financial administration services, including accounting, payroll, and advisory and development services. In addition, through the extensive cooperation and service network, customers are offered expert services such as auditing and acquisition and collection services - all easily available to customers through a single door.


Payroll


 

 


Services provided by Tilityy