Closing of financial statements / Digital accounting
Whether you need full outsourcing of the accounting function or only parts of it, we can create a solution adapted to precisely suit your company. We will also assess – in cooperation with you – whether the task is best performed from our offices or at the business itself.
Choice of financial management system
We do not mind working with an existing financial management system as we have wide experience of many different systems. Alternatively, we can assist in finding a suitable financial management system, so the individual business can perform the task itself. Most needs can be met through the Internet-based system e-comomic.dk. It provides a wide range of options for creating an individual solution that fits your specific type of business and your specific needs.
At Ecovis Svane we have considerable experience of the Internet-based system e-conomic.dk, including its scanning module. Several of our customers have therefore selected a solution where records are scanned directly to e-conomic and each record is linked to the book entry. This makes records and documents accessible at any place and at any time, and the paper flow is significantly reduced.
Records may, of course, be sent from a traditional scanner. However, they may also be sent from a smart phone. Restaurant receipts etc. are photographed and sent directly to the system. In this way you get rid of crumpled records in your pocket and avoid the constant search for records to be entered in the books.
Distance assistance – No problem
Many tasks can be handled directly from our own offices. Records are delivered, picked up, sent or scanned to us, and all material is kept by us. We act as an internal financial function; only our office is a little further down the hallway than usual. In practice, distance means nothing since most communication is by e-mail or telephone. We are happy to agree fixed times for handling your tasks so that there is a match of expectations relating to, for example, how often lists of accounts receivable, bank records etc. are updated. In reality, however, we are present all the time or as often as is necessary. Since all records are available to us, we can answer questions from the business itself, from suppliers and from others as they arise – i.e. all the questions that will normally occur in the accounts department – and in this way provide an internal finance and accounting function.
External chief accountant
Your business may already have an accountant to perform all the normal daily tasks but not the resources required to prepare, for example, a monthly report; budget follow-up; reporting to public authorities etc. In addition, small and medium-sized businesses do not usually require a full-time or even a part-time chief accountant. This problem can be addressed through cooperation between the internal accountant and an employee from Ecovis Svane. Working together with the internal accountant we will ensure that the bookkeeping part is in order and that everything has been reconciled. Following this process we will prepare the necessary reports.
Foreign owned businesses
Through our cooperation with Ecovis offices in other countries, we have gained experience in handling foreign owned businesses. Ecovis Svane has a small department which has specialised in handling precisely these tasks and the challenges that we typically meet in this area; taxation of researchers; foreign VAT refunds; payroll runs for employees having their places of work in other countries; Danish and foreign accounting policies (including US GAAP). We also perform on-going reporting to the parent company or similar companies.
Digital financial statements package
In cooperation with ECOVIS Danmark, State Authorized Public Accountants, Ecovis Svane has prepared a Digital Financial Statements Package, which provides all reconciliations and all documentation as files. The format is easily accessible and all reconciliations and documentation have been adapted to the auditor’s requirements and specifications and can easily be copied into Caseware or any other auditing system for use in the preparation of the Financial Statements.
Pay and staff
Ecovis Svane has many years’ experience in payroll administration, including handling the entire process from payroll handling; interpretation of collective agreements and rules; bookkeeping and reconciliation to reporting to SKAT (the Danish Tax and Customs Administration). We are also able to make all reports relating to benefits refunds – e.g. in the case of sickness, childcare, wage subsidies etc.
In addition, we can help with the preparation of a staff manual, an excellent and useful tool for employees and managers in general, and of course, for new employees in particular. The staff manual comprises the business’s staff policy, duties, rules, benefits etc.