Accounting is a process and part of the health and well-being of any business and company. We serve our clients with a service focused on the added value that we can provide in each case.
General accounting services provide a solid foundation for businesses to maintain tight control of their finances, meet their legal and tax obligations, and have accurate information for daily management and strategic decision-making.
Transaction Record
⦁ Daily accounting: Recording of all daily financial operations of the company (purchases, sales, payments, collections, etc.) in the accounting books.
⦁ Diary: Entry of transactions in the journal, where all operations are recorded chronologically.
⦁ Ledger: Classification of transactions into specific accounts (assets, liabilities, income, expenses) in the general ledger, allowing detailed tracking of each account.
Bank reconciliation
⦁ Review of bank statements: Comparing the company's accounting records with bank statements to ensure that all transactions have been correctly recorded.
⦁ Adjustment of differences: Identifying and correcting any discrepancies between bank accounts and accounting records, such as outstanding checks or unrecorded charges.
Preparation of basic financial statements
⦁ Balance sheet: Preparation of a statement showing the financial situation of the company at a specific time, including assets, liabilities and equity.
⦁ Income statement: Preparation of a report showing the company's income and expenses during a given period, reflecting whether the company has made a profit or a loss.
Monthly and annual accounting closing
⦁ Monthly closing: Making the necessary adjustments (such as depreciation, amortization, provisions, etc.) at the end of each month to ensure that the financial reports accurately reflect the reality of the company.
⦁ Annual closing: Preparation of the financial closing at the end of the financial year, which includes the compilation of all the annual balance sheets and accounts, necessary for the presentation of tax and legal reports.
Preparation of mandatory accounting books
⦁ Journal and ledger: Maintenance and updating of mandatory accounting books that must be available for tax inspections or audits.
⦁ Inventory and balance book: Preparation of the book that reflects the initial inventories, balance sheets and balances, and the results at the end of the fiscal year.
Basic internal audit
⦁ Internal review and control: Conducting internal audits to ensure the accuracy and consistency of accounting and financial records.
⦁ Identifying errors or discrepancies: Detecting and correcting errors in accounting records to avoid problems in tax returns or financial reports.
Management accounting provides deep insight into the costs and profitability of operations, enabling companies to be more efficient, competitive and profitable, supporting more informed and timely decision-making.
Cost determination and analysis
⦁ Production cost calculation: Detailed allocation of direct costs (such as raw materials and labor) and indirect costs (such as rent or supplies) to the company's products or services.
⦁ Profitability by product or service line, by customer or market segment or by project: Analysis to prioritize resources and efforts in the most beneficial segments.
⦁ Fixed and variable cost analysis: Separation and analysis of fixed costs (which do not change with the level of production) and variable costs (which fluctuate with the volume of production or sales), to better understand how they affect profitability.
Preparation of management reports
⦁ Detailed reports for decision making: Creation of specific reports with analytical information on costs, profitability, and operational efficiency that support senior management in making strategic decisions.
⦁ Key Performance Indicators (KPIs) Analysis: Monitoring indicators such as unit costs, gross margin, labor productivity, etc., to evaluate the company's operational performance.
Benefits of analytical or management accounting:
⦁ Improved efficiency and cost control.
⦁ Precise identification of the most profitable products or customers.
⦁ Optimization of strategic and operational decision-making.
⦁ Greater control over production processes and the use of resources.
Payment and collection management (Cash Flow)
⦁ Supplier payment control: Making invoice payments on time and managing transfers or checks.
⦁ Collection from clients: Management of collections for sales or services, including tracking of outstanding invoices.
⦁ Maturity control: Monitoring payment and collection dates to avoid delays and ensure adequate cash flow.
Preparation of financial reports and reports
⦁ Preparation of periodic reports on the treasury situation, such as cash balances and cash flow.
⦁ Report on the status of the company's bank accounts and debt level.
Benefits of a well-managed treasury service:
⦁ Better control of cash flow.
⦁ Reduction of financial costs.
⦁ Avoid delays in payments or collections.
⦁ Optimization of the use of financial resources.
Inventory and classification of assets
⦁ Identification and registration of assets: Create and maintain an up-to-date inventory of all company assets.
⦁ Asset Classification: Group assets into categories such as tangible fixed assets (property, machinery) and intangible fixed assets (patents, software).
Asset valuation
⦁ Initial assessment: Determine the market value of assets when they are acquired or on the date of their revaluation.
⦁ Depreciation and amortization: Calculation and periodic recording of depreciation for tangible assets and amortization for intangible assets, following applicable accounting standards.
⦁ Revaluation or impairment of assets: Assessment of loss of value or need for revaluation based on the condition of the asset or the market.
Inventory and stock control
⦁ Inventory Monitoring: Ensure that existing assets are managed appropriately, preventing loss, theft or misuse.
Intangible asset management
⦁ Registration and protection of intellectual property: Assistance in the registration and management of patents, trademarks and copyrights.
⦁ Monetization of intangible assets: Proposal of strategies to obtain income from intellectual property, such as licensing or sales.
Risk management
⦁ Identification of risks related to assets: Assess the risks of obsolescence, damage, theft or loss of value.
⦁ Asset Insurance: Advice on contracting appropriate insurance to cover the company's critical assets.
Benefits of well-managed asset management:
⦁ Optimization of the useful life and use of assets.
⦁ Greater profitability and return on investment in assets.
⦁ Reduction of costs related to obsolescence or poor maintenance.
⦁ Better decision making on purchasing, maintaining and selling assets.
Preparation of financial statements
⦁ Balance sheet: Presentation of the status of the company's assets, liabilities and equity at a given time.
⦁ Income Statement (Profit and Loss): Report showing the revenues, costs and profits earned during a specific period.
⦁ Statement of changes in equity: It shows the changes in shareholders' equity and their causes (capital increase, dividends, etc.).
Periodic financial reports
⦁ Monthly, quarterly or annual reports: Preparation of regular financial reports that allow the company to continuously monitor its financial health.
⦁ Comparative budget report: Preparation of reports that compare actual financial results with budgets or forecasts, identifying variations and their causes.
Financial analysis
⦁ Financial ratio analysis: Calculation and analysis of key ratios, such as liquidity, solvency, profitability and efficiency, to evaluate the company's financial situation and performance.
⦁ Cost analysis by product, client or project: Identification and allocation of costs to different areas of the company, helping to understand which products, clients or projects are most profitable.
Financial reporting automation
⦁ Implementation of financial management software: Consulting on the adoption of technological tools that allow automating the creation of financial reports, improving efficiency and reducing errors.
⦁ Financial Dashboard: Creation of interactive and visual panels that display financial information in real time, allowing for more agile and dynamic monitoring.
Benefits of a well-managed financial reporting service:
⦁ Improvement in strategic decision-making.
⦁ Regulatory compliance and reduction of financial and tax risks.
⦁ Greater clarity and transparency in the financial situation.
⦁ Optimization of resources and improvement in financial planning.
Our accounting service is tailored to the needs of each case. We have worked with multiple collaboration models. Below we mention some of our models used with clients:
Accounting complete (you give us the documentation and we take care of everything or almost everything). Ideal for self-employed people and SMEs that need to focus on what is really important, their business.
Collaborative accounting (We integrate into management processes, completing the accounting part of information systems). Ideal for SMEs with little internal structure, but with the need to keep their financial information up to date.
Mirror accounting (We account in our systems and review and align monthly differences with the accounting of the internal department). Ideal for companies with centralized accounting in another country or in the process of integrating and implementing a new accounting system.
Partial or modular accounting (We adapt to the company's financial department, whether it is purchasing, sales, banking, whatever you need). Ideal for companies with an internal accounting department that require outsourcing part of the work for reasons of quality supervision, cost savings, risk diversification (2nd opinion), internal rotations, covering vacations, occasional overload, etc.)
We take care of your annual obligations for your peace of mind and compliance.
1.Legalization of Accounting Books
Preparation and Legalization: Legalization of accounting and corporate books (journal, general ledger, minute books, etc.) before the Commercial Registry.
Record Keeping: Maintenance and updating of accounting and corporate records as required by law.
2.Filing of Annual Accounts
Preparation of Annual Accounts: Preparation of annual financial statements (balance sheet, profit and loss account, notes, statement of changes in equity, cash flow statement).
Presentation and Deposit: Filing of annual accounts at the Commercial Registry.
BILLING management software available to the client.
⦁ Invoice generation: Creation of electronic invoices in accordance with legal regulations, including all mandatory information (data of the issuer, recipient, transaction details, applicable taxes, etc.).
⦁ Invoice format and validation: Generation of invoices in the electronic formats required by law (e.g. XML, UBL) and validation to ensure that they comply with fiscal and technical requirements.
⦁ Adaptation to local regulations: Ensuring that electronic invoices comply with local tax regulations.
⦁ Sending invoices to tax authorities: Automation of sending electronic invoices to tax authorities, in cases where reporting is mandatory (SII).
⦁ Digital preservation of invoices: Secure and organized storage of electronic invoices for the established legal deadlines, ensuring their availability for audits or tax inspections.
⦁ Our official notification service allows us to manage the monitoring and reading of the company's electronic mailboxes.
⦁ We manage the obtaining of the company's digital certificate.
⦁ We safeguard and take care of the safekeeping and renewal of the electronic certificate.
⦁ We periodically monitor electronic mailboxes and inform the company of any messages received.
In every business where accounting must be coordinated with the parent company's finance department, it is very important to understand and establish a way of working together. There are many ways to work together. Our experience allows us to understand the special needs and to be able to agree on the service step by step and make the necessary adjustments, so that it fits together perfectly.
Our accounting services described in this section (here) also incorporate the following in the International section:
⦁ Specialized consulting for international companies: We eliminate language and cultural barriers and adapt the service to highly complex and demanding structures and processes.
⦁ Compliance with accounting regulations: Ensure that financial reporting complies with applicable accounting standards (such as IFRS or local GAAP).
⦁ Consolidation of financial statements: In the case of business groups, the consolidation of the financial statements of the different entities that make up the group into a single set of reports.
⦁ Consolidation of intercompany accounts: Synchronization of intercompany records and adjustments to eliminate internal transactions between companies in the same group, avoiding double counting.
⦁ Conversion of financial statements: For companies with international operations, financial reports are prepared in accordance with different accounting standards (such as IFRS, US GAAP).
⦁ Currency conversion: Adjusting financial reports to correctly reflect transactions made in different currencies.
We offer a wide range of accounting services tailored to the specific needs of your business, including:
We take care of all of your company's accounting, from recording transactions to producing detailed financial reports. This includes tracking income, expenses, assets and liabilities to ensure your accounting is always up to date and correct.
We provide you with specialist training so that you can manage your accounting from your own office, if you wish. Our experts will teach you the basics and advanced aspects of accounting, ensuring that you can carry out accounting tasks with confidence and accuracy.
We review and audit the accounting performed by your internal team to ensure that it complies with accounting regulations and standards. We detect potential errors and provide recommendations to improve the accuracy and effectiveness of your records.
We are responsible for the preparation and submission of all tax and accounting returns required by current legislation, including VAT, Corporate Tax and other tax obligations.
We identify potential risk areas in your work management and offer recommendations to mitigate these risks, improving the safety and well-being of your employees.
We offer personalized advice on how to optimize your company's accounting and finances, identifying opportunities to improve efficiency and reduce costs.
Our team is made up of accounting technicians with extensive experience in business accounting management, guaranteeing high quality services.
We adapt to the specific needs and characteristics of your company, providing tailor-made solutions that fit your particular situation.
We ensure that all accounting records comply with current regulations, avoiding legal and tax problems.
We offer a personalised approach, working closely with you to understand your needs and objectives.
In Diagonal Consulting W&B SLWe are here to simplify your business accounting and help you maintain full control of your finances. Contact us today to learn more about how we can help you streamline your accounting management and contribute to the success of your business.
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