Accounting for IT-companies

Implementation of such technologies as artificial intelligence, deep learning, chat bot, neural networks, blockchain and cryptocurrency changes the quality of our life.

Ukrainian IT-companies go with the times and during last few years have occupied the leading position in the global IT-services market. Following modern trends they establish high standards for processes of bookkeeping and tax accounting as well.

The established practice of organization of accounting, preparation of tax statements and keeping financial records for IT-companies sets for accounting division requirements of clear financial planning of activity, organizing projects’ accounting, taxes computation and also accounting for settlements with private entrepreneurs (PE) who are in fact employees of such IT-company. Moreover, the main aim of bookkeeping (financial accounting) is computation of financial results for a company in general and separately for every project, working team or an employee.

We want to admit separately that range of some IT-services is not subject to VAT taxation. We provide consultation support to the management on the issues of defining such wording for service names due to which they will be subject to privileged (exemption) VAT tax regime.

We also receive applications for services of performing bookkeeping and tax accounting for representative offices of IT-companies situated in other countries such as Poland, Great Britain etc.