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Accounting recovery in Germany

Accounting recovery in Germany

Accounting is always based on reliable data, accurate figures and correspondence between balance sheet assets and liabilities. The timeliness of writing and submitting accounts, in other words, summarizing the results of work, plays a big role in the correct accounting tactics. Sometimes the audit and recovery of accounting contributes to the full development of all segments of our business and the promotion of goods and services.

Accounting is different, it includes the organization and accounting of inventory, tangible and intangible assets, their movement, settlements with suppliers and workers. In a large company accounting consists of several departments, in a small one, or it happens that all is managed by one person. It is not uncommon when an accountant or the entire system fails to cope with the tasks at hand, then there is an urgent need to conduct recoveries in accounting.

When is it necessary to provide recovery tax records and accounting

The essence of the accounting and analytical support of enterprise management is to reflect the facts of economic activity on the formation of financial resources for the reproduction of fixed assets.

At the same time adequate and essential information is formed in the system of primary and consolidated accounting, external and internal reporting for making managerial decisions to restore production capacity.

Failure can occur both at the initial stage of organization of production or commercial enterprise, and in the already successful company. Sometimes the help of third-party consulting companies and recovery of accounting is needed.

Outsourcing of accounting will help to make accounting recovery in Germany, if the data is lost, and to resolve discrepancies in them:

if the company’s activities have been discontinued and reports have not been filed;
there is a shortage of funds or incomplete data in reports to the management;
if you tried to do accounting on your own, missing some of the legal requirements;
when a previous accountant left without properly handing over the documents and database;
or when it became clear that your accountant can’t do the job and recovery of accounting is needed
if some documents have been lost, destroyed or mismanaged due to ignorance;
and even if you have been informed about an impending tax audit and are not sure that everything is in order.

The result of the recoveries in accounting is order in the documents, accounting and tax accounting of the enterprise, the correct reflection of activities in the accounting base, correctly accrued and paid taxes for the elapsed period.

Accounting services in Germany and audit stages

For the recovery of financial accounting, you must first conclude a contract with such an organization, which spells out the rights and obligations of the parties. Then already begin recovery of accounting primary and secondary documents. The data is analyzed with the accounts and an inventory is taken at the enterprise.

As a result of these checks, the data of the “primary” documents and reports are compared, and on the basis of the updated initial data the correct accounts are generated, and the balance sheet is drawn up anew. When the company provides the recovery of accounting, updates databases and makes adjustments to the documents for tax authorities, you can again prepare and submit tax returns to the tax office.

In the future you can turn to an outsourcing company for advice on keeping accounting records at your company. In Germany, the service of a competent update of documentation is very much in demand. There are very few companies to which you can entrust accounting data, but they do exist. That is why it is recommended to contact the specialists in time to save the firm from downtime, to resume its activities and to succeed in its field.

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