How to Open a Startup in Bulgaria?

Choosing an accounting partner for a small firm is crucial to its success and sustainability. Accounting firm “Elan Consulting” offers specialized accounting services that are extremely suitable for the needs of small businesses. We understand that accounting for a small business is much more than just summing up numbers and invoices — it's an art that requires precision, knowledge, and skill.

One of the main aspects that makes Elan Consulting a unique choice for small businesses is the personalized approach. Our accountants understand that every small business has its own specific needs and goals. Instead of offering template solutions, we develop individualized strategies that are fully targeted to the specific requirements of each client.

Tax optimization is another key aspect where our expertise is particularly valuable. We help small businesses get the most out of possible tax breaks and reductions, resulting in increased profits and financial efficiency.

The financial management advice we provide is no less important. We are available not only to report financial transactions, but also to provide valuable advice on investing, cost optimization and maintaining financial stability.

In terms of time and resources, cooperation with Elan Consulting allows small businesses to focus their efforts on the development and growth of their business, while ensuring that all accounting and tax procedures are managed professionally and efficiently.

Security and compliance with the law are essential. Our accountants ensure that all procedures are carried out in accordance with the legislation, protecting the company from potential legal problems.

Last but not least, the value of our services for small businesses is extremely competitive. The initial cost of accounting services is offset by the increased efficiency and expertise we provide. With our services, customers not only save time and resources, but also increase their financial stability and growth potential.

Accounting firm Elan Consulting is the ideal partner for small businesses looking for expert accounting services that add real value to their business.

What is unique about small business accounting?

Small business accounting is a key factor in the success of any enterprise and is more than the standard sum of numbers and invoices. It is a real art on which good accountants work as masters. The uniqueness in the accounting of a small firm is manifested in several important aspects:

Personalized approach:A good accountant understands the unique needs of every small business. He does not offer template solutions, but draws up a strategy that is fully focused on the individual goals and requirements of the client.
Optimization of taxes:One of the key aspects of accounting is the optimization of tax benefit. A good accountant knows how to extract maximum tax deductions and fees for any small business, thus ensuring greater profit.
Financial Management Tips:The accountant not only reports financial transactions, but also provides valuable advice on money management. It helps the client understand how to invest, how to optimize costs and how to maintain financial stability.
Time saving:When a small firm trusts a professional accountant, it saves its valuable time, which can be directed to the development and growth of the business.
Security and compliance with the law:A good accountant ensures that all tax and accounting procedures are carried out in accordance with the law, protecting the company from unnecessary legal problems.

Thus, what is unique about small business accounting lies in the ability of the professional accountant to convert numbers into opportunities for growth and success. He does not just keep the accounting books, but becomes an indispensable partner in all aspects of the financial management of a small firm.

How can small businesses achieve rapid growth?

Understanding the accounting of a small business is a key factor in achieving a successful and sustainable business. In today's competitive business world, where every detail matters, working with an accountant can be crucial. Such a partner not only helps you manage your financial resources with mind and efficiency, but also gives you a competitive advantage.

Accountants don't just keep accounting records and help with tax returns; they are key advisors who guide you towards financial growth and optimization strategies. Their ability to analyze financial data and provide valuable advice allows you to make informed decisions about the future of your business.

Working with a good accountant is like a guide in the world of finance. They not only ensure accuracy in accounts, but also find ways to reduce costs. For example, our small business clients were able to reduce their tax burden by 15% through cost optimization and the use of tax breaks.

In addition, modern accountants use advanced software tools and technologies that facilitate processes and increase accuracy. This means you can focus on growing your business while the accounting team takes care of the financial side of your business.

Investing in a good accountant is an investment in your success. They will not only help you cope with legal requirements and tax obligations, but they will also encourage you to achieve rapid and steady growth of your small business.

Why accounting services for small businesses are not as expensive as you think?

Accounting services for small businesses are not as expensive as you think. It seems the opposite, especially when considering the whole range of benefits they bring. The start-up costs are justified by the efficiency and expertise that accountants provide.

Firstly, accountants are professionals with extensive experience and knowledge in the field of tax and accounting law. They are up to date with current legislative changes and can help you avoid mistakes and disastrous tax situations.

Secondly, accountants allow you to focus on the development of your business. They take care of all the financial aspects, freeing you to work more efficiently and engage in strategic development.

Thirdly, accountants help you save money by providing you with tips on optimizing costs and using tax deductions. This way, you can reduce your tax liability and increase your company's profits.

With us you will find prices starting from 50 BGN!

What accounting documents should I provide to my accountant at Elan Consulting if I decide to work with you?

To ensure the correct accounting service of your company, you need to provide our accountants with various documents and information. The exact requirements may vary depending on the specific needs of your company and the arrangements with the accountant, but usually the following documents are required:

Invoices and receipts: The provision of invoices and receipts from incoming and outgoing transactions is an essential element of the accounting service.

Bank statements: Provide bank statements for all bank accounts of the company. This helps the accountant to keep track of all banking operations.

Bank accounts and cards: Provide information about all bank accounts and bank cards that are related to the accounting operations of the company.

Contracts and expense documents: Provide contracts with suppliers and other documents related to the company's expenses, for example rental contracts, service/fabrication contracts, etc.

Employee salaries: Leave information about employee salaries, taxes and social security.

Documents for assets and liabilities: If the company owns assets such as buildings, equipment, goods, etc., provide the relevant documents. Also, provide information about loans taken and other obligations of the company.

Tax returns: If the company has filed tax returns before, provide copies of recent returns and payments.

Other documents: Depending on the specifics of your activity and business model, there may be additional documents that the accountant will ask you.

Keep all documents in order and in chronological order to facilitate the work of the accountant and ensure the accuracy of accounting records. Providing complete and accurate information to your accountant is essential to ensure the proper functioning of your company's accounting service and minimizes the risk of errors and incompleteness in company documentation.

What should an expert accountant in Bulgaria know?

The expert accountant in Bulgaria is a professional who has specialized knowledge and experience in the field of accounting and tax legislation of the country. He or she plays an important role for businesses and organizations, helping them comply with legal requirements and maintain accurate and up-to-date financial records. Here are some of the key knowledge and responsibilities that an expert accountant in Bulgaria usually possesses:

Legislation and regulations: The expert accountant understands Bulgarian accounting, tax laws and accounting rules for different types of transactions.

Accounting procedures: He or she is familiar with the basic accounting procedures and regulations for recording financial transactions, drawing up financial statements and balance sheets.

Compilation of reports: The accounting expert can compile various types of financial statements, including annual reports, reports to the tax authority - NRA, reports for the National Statistical Office and others.

Tax Planning and Optimization: He or she provides advice on the entity's tax strategy and helps optimize the tax burden.

Analysis of financial indicators: The accounting expert can analyze financial data and provide information on the financial stability and efficiency of the entity.

Account management and payment processing: He or she can take care of bank account management, payment processing, and cost control of the entity.

Audit and verification: Some expert accountants can perform audit services or prepare the entity for an external audit.

Wages and Social Security: They can deal with the processing of wages, taxes and social security for the employees of the enterprise.

Information Technology and Software: Many accounting professionals work with specialized software for accounting and tax services.

It is important to note that the accounting process and rules change over time, which is why it is important that the expert-accountant continues to update his knowledge and be informed about the latest changes in legislation.

The ELAN CONSULTING team provides its clients with the opportunity, if necessary, to certify the reports with a Certified Expert Accountant - DES.

How do we perform accounting services for small companies (EOOD or Ltd)?

Accounting services for small businesses (LLC or EOOD) is a process that helps an enterprise maintain accurate financial records and comply with tax legislation. This is an important service that allows small business owners to concentrate on their main business, while the accountant takes care of the administrative part. This is how the accounting service of small businesses usually goes with us:

Conclusion of contract: The small company enters into a contract with accounting firm ELAN CONSULTING for the provision of accounting services.

Preparation and submission of documents: The company provides all necessary financial documents and information to our team. This may include invoices, bank statements, contracts, employee payroll, and more.

Recording of financial operations: Our accountants report all financial operations of the company, including income, expenses, assets and liabilities.

Preparation of financial statements: Our accountants prepare, according to the needs of the company, respectively monthly, quarterly and annual financial statements, which provide information about the financial condition of the company.

Payroll and tax processing: If the company has employees, our accountants process their salaries, calculate and pay their social and health insurance.

Tax return: Our accountants prepare and submit various tax returns to the tax authorities in order to ensure that the company is fully compliant with the NRA.

Tax advice and advice: Our team provides accounting and tax advice in full, in accordance with the accounting service contract.

Document Archiving: Our accountants maintain an archive with all financial documents and records that are kept in accordance with legal requirements.

Analysis and advice: Our accountants constantly analyze the financial information of the companies they serve and are always ready to provide advice to improve the financial management of the company.

These are the general steps in small business accounting services that we apply, but depending on the specific needs and size of the company, our services can be supplemented or adapted differently.

Frequently Asked Questions

What are the main advantages of hiring an accountant for my small business?

Hiring an accountant for your small business has numerous advantages. This professional will help you put your finances in order, comply with tax requirements, and provide you with tax optimization tips. Also, it will provide you with security by ensuring that all accounting procedures are carried out in accordance with the law.

How can I choose the right accountant for my small business?

To choose a suitable accountant, you need to pay attention to their experience in working with small businesses, their professionalism and their ability to adapt to your specific needs. You can check testimonials and reviews, as well as conduct interviews to make sure they understand the specifics of your business.

What is the standard cost for accounting services for a small business?

Small business accounting is an area where a balance between quality and price is required. We at Elan Consulting accounting firm understand this need and offer a unique combination of professionalism and affordable prices. Our price offers start from 50 BGN per month and include a wide range of accounting services that will help you keep your business in perfect order.