Services
From basic bookkeeping to complex financial advisory
From one firm, with one point of contact. Besides our five core areas we also offer company formation, audit, internal audit and outsourced CFO services.
Accounting
Comprehensive accounting services under Hungarian and international accounting standards. We prepare tax returns, monthly reports and annual financial statements, and on request we also provide on-site bookkeeping or seconded accountants.
Who it is for
For SMEs and foreign-owned subsidiaries that need, besides Hungarian statutory accounting, reports in a format their owners are familiar with.
Bookkeeping
- Comprehensive bookkeeping
- Preparation of tax returns
- Review of existing books
- Periodic bookkeeping
- Bookkeeping support
- On-site bookkeeping
- Seconded accountants
Management accounting and reporting
- Monthly reports under Hungarian or international standards
- Consolidation package and annual financial statements
- Reports tailored to individual needs
Accounting advisory
- Design of accounting systems
- Development of accounting policies
- Preparation of internal accounting policies
- Cash handling and stocktaking policies
Payroll and HR administration
Monthly payroll and full HR administration. Our staff are experienced in personal income tax, social security and pension insurance alike. We currently process payroll for nearly a thousand employees.
Who it is for
For every employer, from a team of a few people to companies with several hundred employees. Especially for those for whom HR administration is a burden on top of payroll.
What the service includes
- Employee onboarding, offboarding and records
- Monthly payroll and statutory reporting
- Administration of incentive schemes and wage supplements
- Electronic filings and returns
- Labour and payroll statistics
- Leave, overtime and sick pay administration
- Tracking of tax liabilities
- Reconciliation with the tax authority
Tools we work with
- Kulcs-Bér payroll system
- Electronic document exchange via Kulcs-Connect
- Collection and processing of annual employee tax declarations
Tax advisory
Tax advisory for private individuals, businesses and financial institutions. We don’t just prepare the return: we tell you in time when a decision has tax implications, rather than letting it surface at the next year-end close.
Who it is for
For growing businesses where tax is no longer just administration but a planning issue. For foreign-owned companies that need transfer pricing documentation. And for private individuals who need representation before the tax authority.
For businesses
- Comprehensive tax advisory
- Tax optimisation
- Transfer pricing documentation
- Assessment of development tax incentives
- Design of fringe benefit (cafeteria) schemes
- Employee incentive programmes
For private individuals
- Preparation of tax returns
- Representation before the tax authority
- Assistance with net-worth (asset accumulation) investigations
Bespoke financial advisory
Bespoke financial advisory for mid-sized companies, together with our professional partners, from transactions to financing. For those moments in a company’s life when a decision is best not taken alone.
Who it is for
For mid-sized companies before an acquisition, sale, capital raise or major investment. And for those who want to rethink the efficiency or structure of their operations.
Transaction advisory
- Acquisitions, disposals, mergers
- Company and business valuation
- Valuation of intangible assets
- Acquisition due diligence
Financing advisory
- Financial modelling
- Business planning
- Project finance advisory
- Grant and subsidy advisory
- Development of financing strategy
- Arranging financing
Specialised business advisory
- Financial efficiency improvement
- Organisational restructuring
- Risk management
- Feasibility studies
- Expert opinions
- Public procurement advisory
Outsourced administrative services
Your company’s financial and administrative back office in one place. For those who don’t want to build in-house administration, but want order in their invoices, contracts and dealings with the authorities.
Who it is for
For smaller and growing businesses where the managing director handles the administration personally and it takes up too much time. For foreign-owned companies with no local office support.
Invoice handling
- Issuing outgoing invoices
- Receiving and recording incoming invoices
- Monitoring of payables and receivables
Administration
- Dealings with and representation before authorities
- Support with banking matters
- Forms, notifications, permits
- Management of authorisations
Records
- Contract register
- HR documentation
- Electronic document exchange and archiving
Company formation
With our partner law firms, at a favourable price, in as little as a few hours. We handle the formation of Kft. (LLC), Bt., Kkt., Zrt. and Nyrt. companies, as well as foundations and associations, including for foreign owners.
Who it is for
For start-ups that want not just a company but a functioning back office from day one. With a long-term accounting engagement, company formation is free of charge.
Recommended steps to get started
- Consultation – Discussing the planned activity, legal form and tax regime.
- Legal consultation – Drafting the articles of association with our partner law firm.
- Opening a bank account – We help you choose a bank and handle the paperwork.
- Invoicing and records – Choosing the invoicing method and registering the invoicing software.
- Accounting contract – An orderly back office from day one, authorisations included.
- Official permits – Obtaining the notifications and permits required for the activity.
Audit
Audit of annual and consolidated financial statements under Hungarian, German (HGB), US (US GAAP) and international (IFRS) standards, including for financial enterprises and insurers.
Who it is for
For companies subject to statutory audit due to legal thresholds or shareholder requirements. For foreign parent companies that need to see their Hungarian subsidiary’s financial statements under their own accounting framework as well.
What we offer
- Audit of annual financial statements
- Audit of consolidated financial statements
- Reviews and analyses under IFRS, HGB and US GAAP
- Audit of financial enterprises and insurers
Internal audit
An internal audit function independent of management protects the owners’ interests and supports management in running the business safely. For SMEs, employing an in-house internal auditor is rarely economical. We provide this function on an outsourced basis.
Who it is for
For growing businesses where the owner no longer has visibility of every process, and oversight of the management responsible for safeguarding assets needs to be delegated.
What we offer
- Identifying internal operational risks
- Designing control points
- Designing and implementing control processes
- Ongoing operation of the control system
Outsourced CFO
CFO-level competence without a full-time CFO. A significant share of businesses fail not because of the market, but because of poorly managed finances. A comprehensive advisory and operational service across the whole field of corporate finance.
Who it is for
For SMEs that already need a finance lead, but for whom a full-time CFO would not be cost-effective.
Service areas
- Design of accounting and bookkeeping processes
- Financial and controlling reporting systems
- Rationalising banking relationships
- Liquidity management and arranging financing
- Grants and funding applications
- Receivables management
- Tax advisory and tax optimisation
- Internal control systems
- Design of fringe benefit (cafeteria) schemes
- Company formation in Hungary and abroad