Our services focus on delivering solutions for accounting in Romania, tailored to the needs of our clients.
We represent a top professional Romania accounting office offering a wide range of world-class facilities intended for both business entities and individuals. The professional team that we propose covers a large variety of requests from simple bookkeeping necessities to complex business accounting approaches.
Our affiliates in Bucharest and in all major Romanian cities develop accurate strategies in order to deliver high-value services to all our customers. Consistently ranking as one of the most prominent Romania accounting firms, our company commits to assuring cost-effective results always complemented by an in-depth understanding of each specific business. Our vision is to untiringly explore the fundamental concepts of promptitude and accuracy.
The principles of accounting in Romania need to be understood in order to allow for compliance and our team provides adequate services to resident and non-resident companies. Foreign nationals in particular will benefit from working with a team of dedicated professionals. This way, they can rest assured that the reporting obligations that fall on their Romanian company are duly observed and that they will have no issues and face no penalties.
Quick Facts | |
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Bookkeeping services |
Financial transaction recording, company bank accounts reconciling, accounts receivable and accounts payable, preparing the financial reports and statements, loan and debt repayment management, and others |
Payroll in Romania |
Wages payable, vacation payable, medical leave payable, employee health insurance payable |
Invoicing services | Invoice issuance, tracking and management |
Cash management |
Cash inflow and outflow management, cash flow statement and relevant reports |
Reporting | The standards for accounting in Romania demand that companies submit an annual financial statement, along with quarterly reports |
Financial analysis |
Profitability ratio calculation, net profit ratio calculation, other relevant data and information concerning the company's performance |
Forensic accounting in Romania | Professional assistance in case of investigations concerning money laundering, insurance fraud, financial statement information falsification and others |
Tax compliance | Assistance for tax return filing and payment for companies of all sizes and for non-resident companies |
VAT compliance and reporting | Assistance for VAT registration (optional or mandatory) Assistance for monthly or quarterly VAT submissions (according to taxpayer category) |
Audit in Romania | Annually or on demand, only for certain categories of taxpayers (generally medium and large companies). Our team provides audit services upon request |
Property financial matters | Complete assistance for the payment of all applicable property taxes |
Statutory compliance | Compliance with the applicable accounting standards in Romania which are in line with the relevant EU directives Assistance for IFRS in case of companies for which it is accepted as a second set of financial statements |
Tax authority assistance | Representation in front of the National Agency for Tax Administration |
Support for voluntary dissolution | Yes, upon request |
Services for foreign companies offered by our specialists in accounting in Romania | Complete accounting services for foreign branches and subsidiaries in Romania |
Consolidated accounts | Fiscal consolidation is possible in some cases. Our team can give you details. |
Consolidated accounts package |
Tailored according to the needs of the Romanian resident reporting entity that is part of a group. |
Accounting updates frequency for our clients |
Usually as required by law. Personalized accounting reports can be provided upon request. |
Assistance per number of employees | Payroll and social security contribution packages suited to the company's number of employees. |
Services per the number of transactions each month |
We offer solutions for companies with few monthly transactions, as well as for those with more than 100 monthly transactions. |
Industry-specific services |
Special solutions for companies operating in the financial sector, or as needed. |
Accounting for publicly listed companies |
According to the reporting requirements in force for these types of legal entities in Romania. |
Accounting counsel for sole traders in Romania |
Advice and counsel regarding the often changing tax and reporting requirements in Romania. |
Services when changing the business form |
Updated solutions to reflect the new legal entity's accounting and reporting obligations. |
Solutions for changing the accounting services provider | Upon request |
Can the accounting provider be changed at any time? |
Generally yes, however, the filing deadlines need to be considered and observed even if a change occurs. |
When to request the change to our services |
At the end of the quarter, or as needed in urgent cases. |
Our Romanian experts |
Accountants and financial advisors with extensive experience. |
Why work with our team |
We are a dedicated team that offers personalized solutions for companies of all sizes. |
When to contact us for accounting services | As soon as the company registration is complete, or as needed during the financial year. |
In agreement with general legal regulations, companies are requested to use double-entry accounting and it is a mandatory procedure to draw up annual financial statements. Our Romania accounting office is fully aware of all routine processes imposed by local authorities and we are continuously developing efficient approaches in order to meet the most rigorous expectations. The public institution in charge of drawing and issuing standards and regulations in this specific field is the Ministry of Public Finance.
Services provided by our accountants in Romania fully comply with regional stipulations and also with European standards, always delivering explicit information about all administrative procedures. As all Romania accounting firms assert, there are three major accounting ledgers declared as compulsory: journal ledger, inventory ledger and general ledger. Each type of ledger gradually reflects various aspects concerning financial operations, assets, liabilities and monthly records covering more specific concepts. All documents
referring to accounting matters must be stored at the company's headquarters.
Ordinance no. 65/1994 on the organization of accounting expertise and the activity of certified accountants, with its subsequent modifications and additions, is one of the sources of law regarding the accounting profession and the manner in which accredited individuals deliver services.
According to this law, an accounting expert can provide the following services listed below. Our team observes these principles for accounting in Romania and is able to assist you as needed
The expert organizes, manages, maintains, verifies, and supervises the accounting process, he prepares and signs the financial statements and executes fiscal works, respectively the calculation of taxes, fees, and contributions, the preparation and submission of tax returns and ensuring the client's representation in relation to the tax authorities, as part of a contract for the provision of services in the field of accounting.
The result of the verification or review work may consist of the certification signature granted by the chartered accountant.
An expert in accounting in Romania performs economic-financial analyzes and evaluations for financial-accounting purposes, other than those defined by Government Ordinance 24/2011 on some measures in the field of goods valuation, approved with amendments by Law no. 99/2013, with its subsequent amendments and completions. Such valuations may relate to estimates of the entity's cash flows and financial condition, the measurement of income and expense, the estimate of the level of provisions and value adjustments, and other valuations performed by accounting experts in their current business, without the limit to these.
The expert also performs other financial accounting works, including activities of electronic personnel records, payroll, administrative and IT organization, and certification of information, data, and documents. He provides consultancy in financial management and accounting and provides specific services to managerial accounting and integrated reporting. He is also the one to ensure the internal management control and risk management of legal entities.
These services can be offered to natural or legal persons in Romania. We invite you to watch a video about our accounting services and how we can help you if you open a company in the country: