Progress Holding has many years of experience in providing accounting service to IT limited liability companies (LLCs), many of which are run by foreigners from various countries. Technology companies often hire subcontractors from different nations and work with both domestic and international clients. The unique nature of IT companies requires customized accounting processes tailored to the specific needs of each IT customer.
Our range of services for IT firms includes:
- Project or contract accounting (fixed price or time and material).
We provide financial tracking for both fixed-price and time-and-material contracts. This allows for accurate expense monitoring and gives clients better control over their projects.
- Profitability analysis of projects and customers.
Understanding the profitability of individual projects and customer is crucial for making strategic business decisions in the IT sector. We provide data that enables companies to assess and improve their financial performance.
Our accounting outsourcing services for it companies cover:
- We ensure accurate and compliant record-keeping for all financial transactions.
- Management of fixed assets and intangible assets. We track and manage company assets to ensure proper depreciation and valuation.
- Accounting for grants and subsidies. We help IT firms manage and report on any government or private grants/subsidies received to support business growth.
- International transaction accounting. We manage foreign transactions, ensuring compliance with relevant international tax laws and accounting standards.
- Handling financial audits and tax inspections. We provide full support during financial audits or tax inspections, ensuring all procedures are handled smoothly.
- Bank support services. On behalf of our IT clients, we assist with communications and transactions with banks, including loan applications and other financial services.
- Preparation and filing of tax declarations (CIT, VAT, OSS). We prepare and submit all necessary tax declarations, including corporate income tax (CIT), value-added tax (VAT), and the One Stop Shop (OSS) for cross-border VAT.
- Support in tender documentation. We assist IT companies in gathering and preparing the necessary documentation to participate in tenders.
- Loan application documentation. We compile the required documents for IT companies to apply for loans and financial support.
- Annual Tax Return. We ensure that companies are compliant with tax regulations by preparing and filing annual tax returns.
- Tax Reliefs (IP BOX, R&D). We assist IT firms in taking advantage of tax reliefs such as the IP BOX for intellectual property and the R&D (Research and Development) tax credit.
Flow of documents with IT Companies
We use electronic document flow, digital employee records, and online reporting to streamline accounting processes and improve efficiency.
With Progress Holding’s tailored accounting services, IT companies can focus on innovation and growth while we handle their financial operations.
