Accounting for lenders, financial intermediaries, investment and leasing companies and fintech firms helps put in order the situations where VAT, receivables or interest income directly affect the result.
Contact usOne of the most sensitive areas for financial-sector companies is the VAT exemption without the right to deduct input VAT. Core financial services may be exempt from VAT, but in that case the VAT on the company's own purchases becomes a cost. If the company also has taxable transactions, an input-VAT proportion has to be applied to shared costs, so the VAT question directly changes cost planning.
The boundary of the exemption in financial services is narrow, because you have to assess whether the service changes the legal or financial position of the parties. Purely technical or administrative support, debt collection and factoring are not treated as exempt financial services, so each income stream has to be classified separately according to its substance.
Lenders need to pay particular attention to the value of receivables on the balance sheet, since these must be shown at net value, deducting provisions for doubtful and bad debts. Interest income, in turn, has to be recognised on an accrual basis, when it is earned, not only when the money is actually received.
Accounting prices are split into tiers based on your company's activity and workload. So from the start it's clear what drives the monthly fee and how much service you actually need.
Day-to-day bookkeeping rarely stands apart from tax, so your accounting data, tax returns and the consequences of transactions are looked at together. That helps spot, in good time, the situations where a document needs not just recording but a proper look at its impact on the company.
They say a good accountant is one you barely notice day to day, because the returns are filed, the documents are in order and the State Revenue Service (VID) stays quiet. That's exactly how we see our work - the accounting routine should be organised so it doesn't demand your constant attention.
We provide accounting and tax support both in everyday bookkeeping and in situations that call for weighing up a transaction, a State Revenue Service (VID) matter or an uncertainty from an earlier period. Not every question is complicated, of course - but it matters that, when one comes up, there's someone to ask.