Primary Documentation: Audit And Preparation
When maintaining accounting records in a company, it's crucial to properly handle and process primary documentation. This forms the basis for subsequent financial reporting and accurate tax liability calculations. "First Accounting" Company offers skilled professionals who are well-versed in all nuances of handling and processing primary documents. They will assist you in efficiently and accurately managing document flow and storing primary documents.
The cost of primary documentation preparation and audit services may depend on several factors:
- Volume of work: The cost will depend on the number of primary documents that need to be processed and checked.
- Task complexity: If the audit of primary documents requires expertise regarding current tax legislation or the use of specialized software, this will influence the service cost.
- Additional services: If additional services such as consultations on optimizing accounting processes in the company or recommendations on improving the exchange of primary documents with counterparties are included, this can also affect the service price.
The service of preparing and checking primary documentation includes:
- Checking the presence of all necessary documents: such as expense invoices, goods transport invoices, acts of completed works, income and expense cash orders, and other documents confirming business operations. Our auditor ensures all necessary documents are present.
- Verification of the correctness of primary documentation: ensuring all data in the documents are filled out correctly and completely. Our experts ensure that dates, amounts, counterparty names, and other information correspond to actual circumstances.
- Checking signatures and endorsements on documents: our auditor verifies that all documents have the necessary signatures and endorsements from the relevant individuals. This helps confirm the authenticity of the documents.
- Verification against actual events: the specialist ensures that the information reflected in the primary documents corresponds to the actual events they represent.
- Risk assessment related to potential errors or abuses in the company.
- Audit of accounting records: determining the accuracy and correctness of accounting records using primary documents.
- Restoration of missing primary documents.
- Sorting and categorizing primary documents: organizing them by topics, years, or any other convenient way to easily find the required documents in the future.
- Backup: creating electronic copies of important documents. Storing these copies on external media or in cloud storage to ensure access to them in case of loss or damage to the original documents.
- Analysis of detected errors, providing recommendations for further storage of primary documentation.
Advantages of outsourcing primary documentation: audit and preparation:
- The service helps companies ensure the accuracy and reliability of financial reporting, enhance the efficiency of processing primary documentation, and reduce the risk of errors and abuses.
- Time and cost savings: preparing primary documentation and its audit can take a significant amount of time and effort, as well as require substantial expenses on equipment and software. Outsourcing this service frees the company from these obligations and reduces overall costs.
- Guarantee of accuracy and compliance with regulatory requirements: professional auditors and accountants providing primary documentation services have the necessary experience and knowledge about legislative requirements and standards, ensuring documentation compliance and its accuracy.
- Data security: outsourcing to an accounting company for primary document management ensures information safety, as professional accountants and auditors use the latest technologies and programs for data storage and protection.
- No need for staff training: accountants in primary documentation have sufficient experience and qualifications, allowing them to work quickly and efficiently. This frees the company from the need to train staff.