Have you been thinking about opening a company in Hungary? If so, it is understandable, as Hungary is a great country for foreigners looking to register a business. While it is a great idea, you should first make sure that you understand and comply with all necessary regulations. By doing so, you will ensure the smooth running of your company. In this article, you will find some tips about how to choose an accountant for your business in Hungary.
What is the accountant suitable for your company?
To ensure a successful operation of a company, having a well-functioning administrative background is crucial. This often includes the contribution of an internal or external accountant.
Staying compliant with a different country’s regulations may get challenging at times. For example, remember that in Hungary even if your company has no activity, it’s still obliged to report.
It is important to evaluate the proficiency of accounting services before choosing a suitable accountant for your company. Here are 5 helpful suggestions to keep in mind when deciding to insource or outsource a competent accounting services provider for your company.
- Company Size
The initial step is to determine the size of the company. Is it a small business with a handful of employees, or is it a complex organization with a larger workforce?
- If the company is a larger one with complicated operations, it is necessary to appoint a proficient and dependable accountant with proven experience.
- However, even if your company is a fairly small one, having external help is a good idea. An accountant familiar with Hungarian law and changes in the law will be able to help you avoid any complications and troublesome occurrences.
- The complexity of the operations
Determining the size of the company is the first step. Afterward, it is essential to evaluate the level of complexity in the company’s operations. These factors play a big role in determining how to choose an accountant for your business in Hungary.
This involves assessing the extent of support required for accounting and tax planning tasks, the distribution of day-to-day or week-to-week tasks, and the necessary level of personal involvement of the accountant in the company. While digital bookkeeping programs and modern solutions may be effective, it may also be essential for the company to have daily personal support from the accountant.
- Ensure good communication
Communication is a crucial part of every collaboration. Therefore, it’s essential to have an accountant in Hungary with whom you can easily communicate.This way you will avoid misunderstandings, but not only that. An accountant that is familiar with your language and culture could also be familiar with the specific laws of your country.
The multilingual team at ITL Accounting will ensure mutual understanding and make sure that your needs are met at all times. Apart from English, Italian– and French–speaking professionals will feel at ease collaborating with an accountant who speaks their language.
- Reliability and multidisciplinary experience
When selecting an accounting service provider in Hungary, one of the most important things is making sure they have relevant experience. It’s also important to be able to count on a multidisciplinary firm. A firm like that has the internal capability to assist you also with tax, payroll and HR matters.
Knowing that an accounting services provider has been successfully operating in the field for a number of years will make you feel like you are leaving your company’s work in reliable hands.
- Set a consultation in advance
To ensure effective accounting support, it is recommended to establish clear parameters in advance. This includes defining the tasks, communicating the company’s expectations, and specifying deadlines. However, it’s important to note that an accountant’s role extends beyond processing invoices and handling returns. They can also serve as a valuable accounting consultant for the company. Moreover, they can help in identifying financial and organizational opportunities to optimize and improve operations. Therefore, investing in the best accountant can be a worthwhile investment for the company.
If you are looking for accounting services in several countries, take a look at Tax and Legal Explorer. It is a platform that aids businesses in searching for professional partners in order to support internationalization in the fields of accounting, tax, and legal.