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Accounting outsourcing in Brazil

Posted 2019-06-18

In a company, the distribution of administrative functions is highly important for the administrator to be able to reach the business goals, each department has to be focused in collaborating with the other sectors of the company so they can reach goals and join results.

In the current economic model of Brazil, some operational strategies have been gaining ground, making processes more profitable and productive. One of this financial strategies is the accounting outsourcing, an external accounting team or accounting office starts to collaborate with the company’s evolution, meeting the accounting demands of the company which used to take very long to be solved. With little control, many times with outdated information, stuck and bureaucratic routines, the company ends up slowing down.

With accounting outsourcing, the fiscal planning starts to be more dynamic and the company starts to have a bigger focus on results that make it more competitive in the market. This can only be achieved because a team of experienced accountants starts to put their knowledge into practice, presenting dynamic accounting solutions to better organize and manage the company’s accounting, avoiding the payment of wrong taxes that could generate expenses, waste of time and entries that can damage the company’s cash flow in Brazil.

When to outsource your accounting?

Generally speaking, there are three basic reasons for a company to opt for the outsourcing of its accountancy.

The first is when the information flow from the finance department needs professionalism in order to meet the demand and better manage fiscal matters, keeping the company under control.

The second is when the company wishes to reduce operating costs of an internal accounting department, relocating the physical space, infrastructure, software, eliminating costs of labor and administration of the internal sector.

The third reason is when the company needs to expand its business to another state or country (for example, Brazil). In this case, the company will have to hire an experienced accounting office that is able to aid the foreign company in Brazil, contributing to the fiscal, partnership and labor planning, invoices bookkeeping with tax determination, controlling and operating the cash flow, payments and receipts, as well as making conciliation of financial statements.

The outsourced accounting also makes the rating of all of the company’s documents, issuing financial statements, balance sheets, being able to operate at Human Resources and Payroll consulting, performing monthly calculations of the payroll, such as vacations, thirteenth salaries, profit sharing, aiding in hiring and dismissals, cost determination, taxes on the payroll, conventions and labor collective agreements and consequential obligations in Brazil.

Besides, the accountancy will be able to assist with outsourcing contracts, temporary or autonomous, bonuses, commissions and other indirect salaries determinations, assisting in the management of benefits.

Does accounting outsourcing make the company more efficient?

Yes. After analyzing how financial data of the company is released and organized, the outsourced accountancy will be able to create routines which help the accounting activities, managing to develop the accounting bookkeeping processes, stocktake costs and related internal controls, financial statements, fixed asset control, serving the national and international managers, Brazilian subsidiary headquarters, tax determination and preparing documents to pay taxes, aid in the processes of importing and exporting products and fiscal books bookkeeping.

In the partnership area, the outsourced accountancy will also operate together with the accountancies of other countries, so that the fiscal and administrative planning has total control over the opening, editing and closing of the company, branches, franchises or representations, through articles of incorporation, per the Brazilian law. It will be possible to refer documents to public departments, besides determining, regulating and issuing certificates from many areas, including paralegal and legal representation.

What are the advantages of outsourcing an accountancy?

We could focus only on the economy the company will experience with the outsourcing, since the company will no longer have to invest in technology, infrastructure and expenses with the labor costs.

However, it is possible to point out many other advantages, such as:

Focus on the company’s main activity:

By hiring an outsourced accountancy, the administrator and the other employees don’t need to dedicate time in understanding tax and fiscal systems, being able to dedicate more time to the goals, processes and results that need to be achieved.

Specialized accountancy in Brazil:

By hiring an accounting office, the foreign company begins to have in its team many specialized professionals to serve it. Thus, the hirer begins to have access, support, knowledge and experience from an accountancy that is used to serving companies from other countries in Brazil.

Structure and technology:

Since EUROPARTNER offers a specialized service in Brazil, our accounting offices are integrated and already offer the necessary technology and knowledge to do its activities, making the accounting processes safer and auditable.

Business models:

The accounting outsourcing is very efficient for small, medium-sized and large companies, and outsourcing is more frequent in the following fields:

– Accounting outsourcing for health companies

– Accounting outsourcing for product trade

– Accounting outsourcing for technology companies

– Accounting outsourcing for franchises

Should you have any doubt about our accounting outsourcing services in Brazil, contact us, we will be happy to help.

Author's post: Europartner Accounting

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