All foreign company owners and managers know that
regular, monthly payroll accounting for employees
costs a lot of time and energy, especially for companies with 10 or more employees. It is much better to spend this time and energy on improving the core business of the company.
Payroll accounting should be thorough, legally compliant and precise. Any mistakes can have serious consequences, impact wages, salaries and contributions, and even result in fines to be paid. Even the smallest mistakes can be very costly. Inaccurate or careless payroll accounting may have a lasting negative effect on employer-employee relations.
Payroll accounting is a complex task in itself, and you also have to keep an eye on changing laws and requirements. You must stay up-to-date and be knowledgeable when it comes to new regulations, laws, guidelines and specifications.
The 5 pillars of payroll accounting
- Payroll accounting for new and leaving employees – e.g. tax / social security reports
- Preparing regular monthly wages and earnings statements for all employees during the entire period of their employment
- Submitting authenticated electronic reports to the tax authorities and social security agencies
- Closing the month in payroll
- Year-end closing – closing payroll, submitting mandatory reports to the tax authorities, social security agencies, employment agency and statistical office.
That is why successful and profitable foreign companies outsource their payroll accounting to professional agencies.
We have enjoyed the trust of many foreign clients for almost 25 years. We offer a wide range of outsourced payroll services. We put great emphasis on tailored services based on mutual trust that save both time and costs.
We provide you with comprehensive statements, reports and statistical evaluations according to your wishes. We offer tailored solutions for every industry and company size.
However, our services go even further. We not only take care of the registration and deregistration processes at all agencies and authorities on your behalf, but also manage the issues that may come up in the international business field. Limited tax liability, social security exemption, special procedures when applying for a VAT number, complex processes involved in the payroll accounting of foreign employees – we know how to deal with all of these tasks.
That and much more makes us a unique and ideal partner for your payroll accounting if you operate in several countries. You can rely on our experience and expert business advisory services in the long run. Request a free quote for our outsourced accounting services now. You are in no way obligated to purchase any of our services when requesting a quote.