Financial accounting ...
... increases the professionalism of your accounting.
Proven experts take care of financial accounting and related areas such as value-added tax and social security contributions.
... gives you security about your figures.
Specialists prepare your financial accounting professionally by the applicable regulations.
... strengthens the digitalization of your company.
Efficient financial accounting is comprehensively digitalized and accelerates the digital transformation in your company.
... maps your business transactions numerically.
You gain security and know that your accounting is meaningful and thoroughly documented.
... improves the organization of your accounting.
Existing processes are scrutinized through outsourcing and improved or adapted where appropriate.
Accounting is as unique as your company. It should provide you with precisely the key figures you need for financial management. We are happy to accept the challenge of working with you to develop the best outsourcing solution for your company. Get in touch with our specialists.
We look forward to hearing from you!
Accounting tasks
Accounting (financial accounting, business accounting, financial accounting) is to map a company's business transactions in figures. Every company must document all business transactions in chronological order, wholly and systematically.
For internal accounting purposes, business accounting can be kept as a supplement to financial accounting, if required. All economically significant transactions, such as the sale of goods or payment transactions, are considered business transactions. They result from business contacts with creditors, debtors, credit institutions, employees, or the state. Accounting documents all business transactions and, thus, the company's entire activities and makes it possible to account externally for business activities to customers, suppliers, shareholders, banks, and government agencies. Also, accounting periodically determines profit or loss. The gain or loss for an accounting period can be determined by comparing expenses and income. The composition of the company's assets, equity, and the origin of capital are made transparent by the balance sheet. The personnel administration tasks have changed significantly in recent years, and the related regulations and requirements have become much more stringent. The focus has shifted from administrative to active personnel work.
Commercial accounting
In commercial accounting, a distinction is made between single-entry and double-entry bookkeeping.
Revenues and expenditures are posted to inventory accounts in simple accounting. The determination of the profit for the period is done by comparing the inventories at the end of the period.
In double-entry accounting, there are two ways of determining the profit for the period. On the one hand, using an inventory comparison via the balance sheet, and on the other hand, using the income statement. This variant is usually used in financial accounting.
Organization of accounting
In the general ledger, all business transactions are recorded chronologically. They are posted according to factual criteria. The sub-ledgers, which are separated from the general ledger, are kept separately. The data of the sub-ledgers flow into the general ledger via collective entries. Sub-ledgers often relate to inventory, receivables, payables, payroll, and asset management. These must be reconciled with the public register at regular intervals.
The basis for every entry is the voucher. In general, a distinction is made between so-called natural coupons or original vouchers, which are based on business transactions between companies and third parties. Honest documents include invoices, receipts, waybills, and bank statements. If a natural form is missing, a substitute document must be requested or created. Fake supporting documents include withdrawal slips for materials, payroll records, or transfer and closing documents.
In small relationships, only financial accounting (general ledger) is usually kept. The sub-ledgers are only provisionally preserved as Excel files and updated to the closing date.
Range of services
The services in financial accounting include in detail:
- Keeping the financial accounts (general ledger)
- Keeping of sub-ledgers (if required)
- Preparation of financial statements and consulting
- Cost center accounting and operational accounting
- Group accounting
- Budgeting; business ratio analysis; controlling and reporting functions.
- Payroll accounting
- Also, we offer outsourcing of financial and payroll accounting and the temporary assignment of specialist personnel (Springer Service) in the event of downtime and for bridging purposes.
