Restoration of accounting

In accordance with the legislation of Ukraine, all business entities are required to systematically maintain accounting records. This process should be continuous from opening to complete suspension of activities. However, most often it has serious violations: is it violated at all, lost or lost? And in order to avoid the unpleasant consequences of inspections, to get a reliable picture of its economic condition, the company urgently needs a competent and quick restoration of accounting. Paretto offers a way out of the situation, as it specializes in restoring accounting. The work aimed at restoring individual areas involves the maintenance of:

• settlements on deductions to all extrabudgetary funds;
• wages;
• settlement account transactions;
• cash transactions;
• accounting for the movement of goods.

In addition, the restoration of accounting involves the registration and implementation of depreciation on fixed assets. The cost of the accounting restoration service is calculated individually. The main parameters that affect the price:

• the period during which accounting or its maintenance was carried out revealed shortcomings;
• intensity of economic activity;
• the nature and depth of non-compliance of the document flow with the requirements of the current legislation;
• time allotted to the implementation of measures.

What risks can be avoided by competent accounting?​ Timely restoration of accounting enables the company's management, its shareholders and partners to really assess the financial situation, accounts payable and receivable, integrity of assets, make balanced and timely management decisions, adequately meet any audit.

Stages of accounting restoration

The process of restoring accounting is complex and largely depends on the causes and degree of disorder in accounting. The following main stages can be distinguished:

1. Initial processing of documentation. At this stage, it is assumed:

visual evaluation of the electronic record keeping system,
diagnosing the state of accounting, databases,
primary sorting of accounting documents,
detection of recovery volumes,
their coordination with the customer.

Also at this stage, it may be necessary to conduct an unscheduled inventory of materials and fixed assets. Based on the results of the first stage of restoration of accounting, technological solutions are being developed for accounting, accounting policy, as well as other regulations.

2. Restoration of accounting and processing of documents. At this stage, the correction or creation of accounting registers of tax and accounting takes place directly, the restoration of primary documentation, reporting, payment of identified penalties and arrears, putting documents in order, reconciliation of mutual settlements with counterparties. Regardless of the activities of customers, the complexity of the internal structure, our company will quickly restore accounting and, if necessary, provide other services.

Consequences of incorrect accounting

Gross violations of accounting rules, lack of primary documentation, tax invoices, registers, systematic untimely, as well as incorrect reflection of business transactions, material values, cash, financial investments and intangible assets leads to rather deplorable consequences, up to significant financial losses, suspension of activities and seizure of company accounts. To avoid all unpleasant moments, it is advisable to restore accounting in the following cases:

• in the presence of systemic errors of tax and accounting or its absence, the elimination of which on their own is impossible;
• improper control over the activities of the accounting service by the management of the enterprise;
• incompetence of the chief accountant;
• in case of confirmation of the fact of reflection of false information in the primary documentation;
• loss of documentation, etc.

This service from Paretto can be very effective for enterprises, as it promotes full control over financial activities by management.