In Hungary, every company is required to have accountancy from the moment of company formation. As a result, it is worth choosing a provider that offers both assistance in incorporation and accounting.
Company formation and accountancy
In accounting, there are some tasks that need to be performed right after company formation. These include mostly reporting to the tax authority to confirm that the company is operating in a way that is compliant to regulations. If you are setting up your Hungarian company through an assistance provider that also offers accountancy, you can rest assured that this initial reporting will be duly completed – even if you later decide to continue operation with another accountancy provider specialized in your type of company operation.
Choose the right accountant
Choosing the right accountant will greatly depend on the operation you are planning. You should consider the following:
- What is your main activity?
- Are you trading goods or services?
- How much income are you likely to generate?
- How many invoices will you issue and receive monthly?
- How many employees do you want?
- At how many sites will your company operate?
Accounting has many special areas, and you should choose an accountant that is expert in the field you are operating in.
Want to own a “shop”? Running a webshop with one office and a warehouse is different from running an actual shop, and is not even close to running a restaurant. On the other hand, if you are selling services, e.g. developing software, you will probably have an office and most of your costs will be related to paying salaries. These activities require different accounting tasks, and, accordingly, different accounting expertise.
Company formation and business planning
Answering the above listed questions is essential not only for accounting, but also for operating your company in general. To make your company a success, you should come up with a feasible business plan that includes your planned services, together you’re your space and workforce requirement. Coming up with a realistic idea is just a first challenge; realizing it step by step, broken down to manageable chunks is what will make your venture profitable.
Helpers Finance offers not only accountancy services to small and medium sized companies, but also all other relevant assistance – including company formation and business planning, naturally. Get all the support you need, and focus on what you are an expert of: on your business growth.
Disclaimer: The data in this article reflect the state of affairs upon publication. To get up-to-date information, always consult your accountant.