1. Accounting services
- double entry bookkeeping in HUF or in any foreign currency (EUR, USD etc.);
- supporting the preparation of the accounting policy and other legally required policies;
- preparing and electronic submission of annual reports (balance sheet, profit and loss statement) in accordance with Hungarian accounting law;
- preparing inputs for group consolidation according to international accounting standards (e.g. IFRS, US GAAP);
- maintaining fixed asset register, calculating depreciation;
- preparing and submitting tax and social security reports;
- managing tax affairs, acting as authorized agent of the client at tax authorities (see below for more details on our VAT related services);
- assisting in the preparation and electronic submission of statutory statistics reports;
- checking and correcting of the the bookkeeping of historical periods (prepared by a previous accountant);
- accounting for current accounts:
- receivables, payables,
- up-to-date register of open items,
- calculating default interests;
- up-to-date accounting of VAT analysis;
- preparing other reports based on bookkeeping;
- bookkeeping and internal reporting by cost centers and profit centers;
- preparing treasury lists, petty cash vouchers, keeping petty cash register.
2. Payroll services
Payroll is one of the internal functions for which in many cases outsourcing proves to be the most efficient and cost effective method.
How we can help you:
- managing payroll records and other HR registers;
- preparing and submitting statutory HR and social security data to the relevant authorities;
- full scope management of social payment disbursement units (TB kifizetőhely);
- preparing on-demand management reports (holiday, headcount, overtime, expenses etc.);
- bank transfer of net salaries;
- bank transfer of payroll taxes to the tax office.
3. Controlling services
- preparing strategic plan;
- preparing annual budget;
- comparing budgeted and actual data by periods, analysing variances;
- preparing financial measures on request;
- periodic (e.g. monthly, quarterly, yearly) executive reports;
- ad-hoc reports.
4. Following up on legal changes
- providing up-to-date information on changes in laws and regulations related to taxation, HR matters and bookkeeping;
- consulting services to optimize taxation.
5. VAT registration of foreign entities operating in Hungary
Certain activities of foreign entities operating in Hungary may fall under the scope of Hungarian VAT. As a result invoices on goods and services supplied must be prepared based on Hungarian VAT legislation.
We can help by:
- providing information on the process of VAT registration and the documents required for it;
- submitting the documents required for obtaining the local tax number to the Hungarian tax office;
- completing Intrastat registration;
- registering and checking the incoming and outgoing invoices required for VAT return;
- maintaining VAT subledger;
- preparing and submitting regular VAT returns and Intrastat forms;
- reporting and analyzing data on the processed and submitted tax returns.
EKAER is the new Electronic Trade and Transport Control System in Hungary designed to mitigate VAT fraud. It is implemented and effective from January 1st, 2015 in Hungarian public road transit.
A company has to apply for an EKAER number for each road transport performed by vehicles which are obliged to pay usage-proportional road toll (3.5 tons and above) if the company
- sells goods in Hungary (first taxable domestic sales to a non end-user);
- purchases goods from other EU country and receives them in Hungary;
- sells products to other EU country and delivers them to an address outside Hungary.
A transport is not required to have EKAER number if the goods delivered in a transport (including transports via collecting freights) comply with at least one of the following conditions:
- the total weight of the goods is not greater than 2,500 kg;
- the total net value is not greater than HUF 2,000,000.
There are several data items to be reported in order to receive the EKAER number valid for a road transport. The relevant form can be submitted electronically by
- the representative of the company or
- by an authorized person (primary users) or
- by an other person (secondary user) designated by a primary user.
Primary users must have a user ID and password in the government information/administration system called Client Gate (Ügyfélkapu). Aranykönyvek Kft. can act as primary user on behalf of the Client. As primary user we can provide comprehensive EKAER management including registration and application for EKAER number for each transport when necessary. As primary user we also can provide access rights to the EKÁER system for any person designated by the Client. For further information please feel free to contact us or request a quote.
We offer our services in Hungarian and English language.