Global economic and financial changes combined with steadily increasing regulatory obligations can constitute fresh challenges and new risks if they are not managed properly. Companies have to strike a balance between compliance with local accounting and tax rules, exercising the right amount of control by reducing risk and, at the same time, efficient processes and systems.

The purpose of the Accounting services provided by our team of professional accountants is to help Italian and foreign companies to meet the economic and financial disclosure requirements in the countries they operate in, which decide to outsource the work carried out to meet accounting and tax obligations, from data entry management to the preparation of financial statements and tax returns. Companies which decide to outsource their Accounting activities and use our services can assign their in-house resources to higher added value work and reduce the time they spend on what are considered to be time-consuming activities.

Centrally managed, our services combine our administrative and financial expertise with our tax skills so that we can give you full support in all your legal compliance needs.

Our package of services includes:

  • keeping the books both on our accounting system and on the client’s system (web link) and reconciling bank and accounting balances;
  • preparing periodic reporting packages (cash flows, customer and/or supplier ageing, etc.);
  • preparing annual financial statements on the basis of local rules and consolidated financial statements, filing them in XBRL format;
  • converting the data obtained from the Shared Service Centres (SSCs) from group to local accounting standards;
  • updating the accounting books (register of inventories, daybook and book of assets) and tax books (VAT registers) on the basis of local rules by interface with SSCs and handling all the related tax formalities (Intrastat, black list, declaration of intent and VAT return);
  • management of the self-employed workers’ withholding tax process and preparation of the relative tax documents (F24 and 770 forms);
  • support in resolving the accounting and tax queries related to these matters;
  • managing relations with auditors, answering their questions.

Special assignments

We are often asked to assist by carrying out these special assignments:

  • for not resident groups with European operations but with no local finance team and organizations, we can provide accounting services by acting as Shares Service Centers (SSCs), thereby using ad hoc IT resources;
  • if you need for accounting support, we can immediately second to your offices our accounting specialists.

The accounting service can also be provided in Business Process Outsourcing mode, go to the dedicated page to find out how and which other services can be outsourced.

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Fabio Pirolozzi

Tax Partner, PwC TLS

Roberto Pilati

Tax Partner, PwC TLS

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