The correctness of tax reporting and proper planning of further work depends on competent accounting. When you open your business in another country it is quite difficult to understand how to act correctly if you do not know all the nuances of the law. In this article, we will tell you about accounting in Georgia.
Outsourcing to professionals and delegating non-key business functions, such as remote accounting and tax consulting, is no longer just a necessity
When opening his own business in a foreign country, the manager faces a number of issues that need to be addressed. One of the most specific issues is professional accounting services in Georgia.
Financial and tax reporting in Georgia is a convenient system for filing documents that meet modern international and European standards. Since 2000 several reforms have taken place in the country: first the government approved the standards of accounting and financial audit and afterward reduced the tax burden on citizens and companies. As a result, a clear procedure for reporting to the state authorities was introduced.
Accounting has not been associated with a huge number of paper documents for a long time. All accounting has been transferred to electronic format. For accounting nowadays you will need only a computer and the correct accounting program. In this article, we will analyze the accounting programs in Georgia.
The task of accounting is to know exactly everything about the company, which can be evaluated and calculated. How much money is in the cash register, on the current account, how much goods are in the warehouse, in the store. How much the firm owes to its suppliers and vice versa. How much tax will have to be paid? In simple words – the accounting of everything in the company that can be counted in money and quantity. And all this data must be recorded and stored.
The accounting program should be chosen depending on the sphere of activity and volume of turnover. There are simple ones, which are suitable for micro-business and more progressive for companies with a large number of operations. The right program will help you to set the right settings and automate the processes of preparing and sending reports, maintaining documentation, tax optimization, etc. as much as possible.
ORIS Accounting is the most popular accounting program in Georgia. ORIS includes everything you need for proper accounting:
ORIS has a large set of features, but it is still not suitable for today’s needs. Because modern accounting involves almost complete automation of balance sheet processes, which will allow seeing the whole business in a single system, to learn the real value of projects, it is most profitable to plan purchases, to determine the optimal margin, to be protected from legal sanctions.
Ideal for any business in today’s realities is a cloud-based accounting solution. What is a cloud solution? It is software without any network infrastructure and IT support. There are a lot of such programs now, but not on the Georgian market. We managed to find Balance.ge by trial and error method and that’s why we decided to switch to it:
To master basic knowledge of accounting programs you will need to be trained and certified. But it is better to contact us. The Jara Accounting team will provide you with a personalized approach and a unique solution to your accounting needs.
If you decide to invest or register a business in such a promising country as Georgia, then leave a request on our website and we will give you a free consultation and help at all stages.