Keeping financial books in line with the Czech accounting regulations and with regard to tax regulations is the core of our financial accounting services. PROXY offers keeping of financial accounts using Helios Orange software or client’s preferred software (SAP, Sage, Movex etc.), as well as support and consultancy regarding accounts kept by the client.

The output of our work is, among other things, the preparation and production of statements and reports in order to meet various needs of each client, especially with respect to:

a) reporting deadlines (weekly, monthly, quarterly reports etc.),

b) the purpose of the reports (monitoring monthly/quarterly results, cash flow projection and liquidity monitoring, monitoring of turnover, benchmarking with goals, consolidation of data etc.),

c) the way data is processed and handed over (accounting software configurations, samples and tables drafted by the client, entering data into client’s web applications, export of final data into clients’ systems etc.),

d) reporting standards (in line with Czech accounting standards, IFRS, US GAAP, German standards – HGB etc.),

e) data formatting (Excel, Word, html, pdf etc.).

Our accounting services, needless to say, also include the production of (ordinary, interim and extraordinary) financial statements, including the closing of the books, account reconciliations, preparation of the balance sheet, profit and loss accounts, notes and corporate income tax returns. Where companies are subject to statutory audits, we prepare required documentation and cooperate with designated auditors and we also prepare annual reports in cooperation with the client. Upon request we also assist with drafting of the report on relations among related parties.

Similarly, our aim in this area is to meet our client’s needs as much as we can. That is why there is always an accountant in charge of each client’s accounting agenda and communication with the client. Upon request, we keep clients’ books in bilingual versions (Czech-English or Czech-German) and, acting as authorised agents, we represent clients during tax authority inspections etc.

Our financial accounting services include namely the following:

• installation of financial accounting in line with the Czech accounting and tax regulations into client’s software kept by PROXY, with the possibility to keep the books based on cost centres, departments, contracts etc.,
• possibility to issue payment orders and send them to client’s internet banking,
• possibility to import data from client’s trading and logistics systems and record them in the books,
• support of and continuous supervision over accounting books kept by the client,
• consultation and opinions on accounting issues,
• preparation of reporting upon the client’s request,
• preparation of monthly and quarterly VAT returns and recapitulative statements,
• preparation of the financial statements (including interim and extraordinary financial statements if need be), i.e. preparation of notes to  financial statements, the balance sheet, the profit and loss account and related tax returns,
• consultancy while preparing reports in line with IFRS and US GAAP,
• reviewing clients’ books, continuous checking of books,
• representation of the client during inspections carried out by the tax administrator.