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Do you know the advantages and additional services you can get from a good provider of accounting services?

At the very beginning of our business we tried to present ourselves through our web page.

Furthermore, our plan for the future is to try to communicate with potential users through a blog  as well.

This is the way we would like to inform you about business news and/or share with you experiences from the practice, which we find important and/or interesting.

Most entrepreneurs use outdoor accounting service because they are obliged to, in order to comply with the legal provisions of keeping business books, which they know nothing about or are not interested in. Therefore, they perceive it as an expense which from their point of view is not really necessary but is certainly more cost-effective than employing a person at their business entity. It is logical then that they are trying to reduce this “unnecessary” cost and find a cheaper provider.

On Croatian small market, the offer of accounting services (and here we come across a different term: accounting  not book-keeping!) is  very large so the trend of lowering the prices as much as possible is logical.

Since in Croatia business books can still be kept by persons without any experience and appropriate education only on the basis of short book-keeping courses, it frequently happens in practice that we meet book-keeping providers which keep the books for their clients without much knowledge and understanding, thus reducing the work of true, professional accountants to a mere entering of business transactions into a computer software.

This is not the case with true accountants and their accounting (not book-keeping!!!) services. They understand business processes and causal connections as well as the importance of timely and accurate financial reports. They can also “get carried away” and advise their clients about what can be enhanced or improved –  naturally, all within legal regulations They know how to counsel their clients about changes of legal regulations and ways to improve business operations, they know how to explain to clients, in a precise and understandable manner, what is allowed within a business entity and what is not, what will be positive and what will be negative for business results. They know how to control and manage costs and a lot of other things.

Do you know that the largest number of users of accounting services use only one type of service provided by an accounting office? And do you know  that this does not have to be this way?

The purpose of this text is not to write about recording business transactions, about financial reports, tax regulations and other topics dealt with by book-keepers and accountants, but we want to help you to use all the options serious providers of accounting services can offer to their clients. 

Establishing a company can seem rather simple. Especially since there has been a possibility in Croatia to establish a simple limited liability company (j.d.o.o.) for which, at first sight you only need HRK 10.00 share capital. You collect all the necessary documents, pay a couple of hundred kuna for notarial services, submit everything to Hitro.hr and within few days you are “your own boss”.

But that is just the beginning. Where is the income plan? Calculation of necessary financial funds? Market analysis and estimation of costs? Not to mention the profit you need because otherwise your business operations are not sustainable? Those are the real challenges you will be facing from the day you start struggling on the market.

And this is the point when, already on the first step, you can get additional value which true providers of accounting services can offer to their clients, namely financial and business consulting.

Even before establishing your business entity, use the opportunity to get advice from experts who can save you from large challenges, assist you and make your first steps in the world of entrepreneurship easier.

If you are thinking about starting a cooperation with a provider of accounting services or if you are thinking about changing your current provider, use the opportunity to establish a cooperation with a professional provider, what will be beneficial for both parties and what will bring to you more than just book-keeping.

And finally!

Since the author of this text has to explain almost daily the difference between book-keeping and accounting, here are the definitions learned at college many years ago:

The prevailing opinion of foreign authors is that ACCOUNTING is a much wider term than book-keeping, i.e. that book-keeping is an integral part of accounting.  

There are many definitions of accounting but the author likes the following the best: “Accounting is a tool used to analyse and control business operations and plan future actions.”

Unlike accounting, book-keeping represents just monitoring and recording of previous business events, it is hence rooted in the past.

Should you need additional clarification, feel free to ask us!

 

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