Reengineering of accounts
The model of accounting integration and the methodology of generating financial and management accounts in ERP systems differed in substance and principle from the Bulgarian accounting practice sanctioned by law till 2001, which among other things required all companies to use the same chart of accounts.
Following the changes in the accounting and tax legislation in Bulgaria after 2001, alignment with IAS was achieved and the restrictions on setting up individual charts of accounts were abandoned, making international accounting practices that underlie ERP systems fully applicable at the Bulgarian enterprises as well.
We help you reengineer your accounts to allow you to implement the standard functionalities of an ERP system.
Our services cover:
Unlike all other business processes, the reengineering of accounts and documentary flow procedures cannot be fully implemented before the system’s actual start up, especially in cases where accounting software based on the Bulgarian accounting practice was used before.
Therefore, preparation of the requirements to the system in advance and training of your team are critical for the project’s success and is one of our most valued contribution and advantage you can benefit from.
Amendments to the Value Ad ...
In State Gazette, issue 102 of 23 December 2022 a Law on Amendment and Supplementation of the Value Added Tax Act (LAS VATA) was published. The most important c ...
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In State Gazette issue 104 of 30 December 2022 was promulgated the Law on Application of Provisions of the 2022 State Budget Law of the Republic of Bulgaria (SB ...
In Brief: All