Accounting for foreign companies

Support of selected accounting processes

Work for clients based overseas must be done remotely, which brings with it the need to take special care of client data security. VPN tunnels to ensure data confidentiality and integrity are standard. In some cases, we use customer-supplied equipment, if such are the security requirements of a particular organization.

We invite you to read sample case studies in handling selected accounting processes for Aider Polska (MDDP Outsourcing) clients.

Handling selected accounting processes

In modern organizations, accounting processes are divided into several key areas, which can significantly streamline the work of the accounting department while ensuring quality service.

- The work in this department/process, focuses on verifying, entering and processing purchaseinvoices, linking them to purchase orders, clarifying quantity and value differences (usually with the warehouse management and purchasing departments), ensuring that the correct approval is obtained for a given purchase, posting and ultimately ordering these invoices in a timely manner for payment (either individually or in system-generated packages).
- Work in this department/process involves issuing and posting sales invoices and adjustment invoices, and often collecting the reconciliations necessary to properly account for the adjusted tax. There may also be elements related to clarifying overdue receivables or confirming balances for statutory or group purposes.
- This is an area requiring advanced knowledge of accounting, taking into account national as well as international regulations (e.g. IFRS). The work here focuses on performing more advanced bookkeeping (e.g., provisions, payroll, production cost accounting), maintaining fixed asset register, as well as analyzing accounting records and preparing various types of reports and financial statements.
  
  Aider Polska (MDDP Outsourcing) has many years of experience in full bookkeeping, as well as selected accounting processes, including for foreign companies.

Benefits for customers

Many organizations are seeing significant benefits from spinning off parts of the internal accounting department's tasks and outsourcing them. The main advantages of this approach are:

Access to a team of specialists with a developed methodology to take over a selected accounting process, and optimize it.
Ensuring continuity of work regardless of turnover, vacations or other absenteeism of employees of the internal accounting department and the possibility of uninterrupted, long-term, cooperation without the need for cyclical recruitment of accountants in an increasingly demanding market.
Flexibility of the service provider, which is able to offer support to additional employees at short notice if needed, or is willing to take on additional labor-intensive services, including one-off ones.
Lower costs - especially for foreign companies, where labor costs are incomparably higher than in Poland.
Better control over accountingdata and stabilization of processes resulting in, among other things, no disruptions in payments or reporting deadlines.