Accounting Services in Russia

In Russia, keeping records and following procedures for financial and tax accounting significantly differs to that of its international counterparts. The law is strict in its requirements and it is essential to maintain the presence of a large number of detailed and high quality paperwork including strictly regulated forms containing documented proof of every financial transaction. This can lead to a very large volume of routine paperwork requiring a significant amount of attention and time from an accountant.

In addition to the regular accounting requirements, the accounting procedure can change on an almost daily basis and is closely supervised by a large number of government services, meaning the accountant is forced to constantly alter and amend their paperwork in order to stay up to date with the latest accounting standards and regulations. The rates and calculation procedure of dealing with taxes in Russia also change regularly.

Due to the huge amount of time and effort required to maintain financial and tax accounting, it is typically outsourced to specialized companies. Using Russian statutory financial and tax accounting outsourcing is a very effective time saving bookkeeping service solution for start-ups and small businesses.

We gain our clients confidence by offering specialized services including; acting as an authorized representative in communications with financial institutions and clients, reconciliation of accounts and maintained of Russian General Ledger, first contact support for clients with questions regarding accounting and tax issues, in-house accounting software programming and technical services, corporate evaluation and professional upgrading programs and in-depth knowledge of Russian and International business practices and professional liability insurance. Through these services we aim to build a solid base foundation that can lead to elevated client satisfaction.

Our list of specialized services includes:

  • Developing a tax and accounting policy, perfect for new companies wishing to set up business and tax accounting;
  • Statutory accounting – thorough review of all supporting and accompanying statutory documents for every transaction (bank, expense reports etc.) and preparation of internal financial documentation (e.g. travel reports, mileage reports if requested, business entertainment expenses etc.);
  • Maintenance of Russian General Ledger accounts including reconciliation of the accounts;
  • Fixed Assets accounting and depreciation;
  • Acting as an authorized representative for clients when communicating with the State;
  • Acting authority in respect to preparing and submitting statutory forms of reporting for and on behalf of our client;
  • Acting as an authorized representative for clients during communication with a corporate bank or any other Financial Institutions in the Russian Federation;
  • Providing first contact consulting and support for a client’s managers or employees wishing to discuss a variety of accounting and tax issues;
  • Tax planning;
  • Audit of fiscal and tax accounting;
  • Reconstruction of financial and tax accounts for previous years (full or partial);
  • Professional assistance to Russian and foreign specialists in preparing and submitting a tax declaration to the Tax Inspector.
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