Business Processes & Outsourcing

Business Processes & Outsourcing

-Our Services-

IFRS & Management Reporting

We prepare monthly/quarterly standalone financial statements in accordance with the International Financial Reporting Standards (IFRS) including balance sheet, income statements, cash flows, statement of changes in equity, notes to the financial statements.
We also prepare consolidated financial statements for groups of companies.

Expert Opinions

We have experience in quite complex accounting expert opinions which cover large area of transactions including accounting expert reports attesting the liquid, certain and payable nature of the debts with an aim to convert such debts into equity.

Advisory

This service includes assistance during external audit processes and tax audits, IFRS training for internal financial department, merger and acquisition projects, assistance to the Company’s external and internal financial auditor, assistance in year-end stock taking, startup implementations on the accounting side.

Transactional Accounting

We draft revenues and expenses budgets, management accounts (including a comparison between budgeted and actual results).
We draft forecasts, create cost accounting procedures, financial key performance indicators. We also develop integrated planning methods and prepare other reports required by management and/or shareholders.
Cash management service includes preparation of payment documents, placing deposits, obtaining bank statements on a regular basis, on-line banking transactions, cash flow statements preparation.

Statutory Accounting

We design the computer system according to each individual business, aiming to generate the required reports for our customers.
We timely process all monthly accounting documents and indicate possible missing supporting documentation.
We prepare all required statutory reports: trial balances, sales and purchase ledgers, VAT returns, profit tax returns, and submit the declarations with the related authorities in due time.
We perform interim and year end statutory pack of financial statements, in the format required by local regulations.
As part of our bookkeeping solutions, we can support you with the following:
In-house/on-site accounting compliant with local accounting acts
Financial statements compliant with local accounting acts
Tax returns, statements for social insurance, national banks or general statistical offices
Management reports
Accounting supervision
Replacement accounting staff
Accounting record review for past reporting periods
Adaptation of finance systems
Financial administration and analysis
Business address rental
Accounting process design and organization
Invoice issuing and credit collection
Cash requests and supplier payment management
Customer/supplier help desk
Handling fiscal/tax inspections and chartered auditors for account books and registers
Reporting preparation, archiving and maintenance of account books and registers

Accounting Reviews & Diligence

We perform accounting review on a monthly / quarterly basis by analyzing significant transactions, checking the accuracy of accounting and proper and timely payment of taxes.
We provide advisory services for creating and structuring the accounting processes and for elaborating accounting working procedures and methodologies.

Payroll and HR Administration services

Monthly payroll processing and tax filing services: we are providing timely and accurate payroll compliance services, including payroll calculations, retroactive adjustments, automatic solutions for salary data import, preparation, and submission of all the monthly social security and tax returns, annually fiscal forms.
Direct payment of salaries and taxes: upon client’s choice, depending on the desired level of confidentiality, we can perform salary payments through internet banking or prepare the salaries and related payroll taxes’ payment file.
Preparation / Registration of accounting entries
We provide our clients with accounting entries upon specifications for a direct import in the accounting software
Standard and customized reports
We offer flexible reporting solutions designing the payroll deliverables together with our clients suited for their needs and visions
Correspondence with local tax agencies on behalf of clients
Assistance within Labor Inspections
The payroll compliance activity often involves corresponding with authorities. We overtake this burden, having all the formalities prepared and filed in behalf of our clients. We are assisting our clients during labor and tax inspections on payroll matters.
Individual taxation solutions and labor legislation consultancy
Legislative compliance – permanent adaptation of the payroll software to the legislative changes.
Preparation of personnel documents: employment contracts, addenda, termination forms and maintain the personnel files updated
Preparation and filing of all the necessary changes in due time in relation to the electronic register of employees
Review, adapt and design the Staff Handbook and assist clients during collective bargaining
Payroll process improvement advisory
We support our clients to align their internal regulations with the legal requirements, provide advice during collective negotiations. Having years of payroll experience in all industry sectors we are able to provide valuable input for our clients in order to standardize and organize their internal payroll procedures
Payroll taxation review and personnel files’ audit During the transfer process from a provider to another, or periodically for assuring an accurate compliance of the payroll services, we review benefits, social allowances taxation, the personnel files and their reflection in the electronic register of employees
Customized payroll trainings, seminars and workshops
Our clients have access to a series of events like professional trainings, workshops and seminars, aimed to align their processes with the latest regulations, market dynamics and trends.

Consulting and Compliance Services

Customized solutions with all relevant information including timing and costs, fact and data gathering, legislative news and client specific immigration policies and procedures for all categories of employment including international and domestic assignments
Preparing spreadsheets and comparative analyses between different types of work structures depending on the number of employees
Compliance with the international and domestic immigration and tax laws, social security system
Repatriation services
Planning and advising on corporate immigration programs and strategies

Permits and Tax Services

Guidance and assistance throughout the entire process or obtaining the right type of Visa (for business, work, commercial activities, or other purposes-assignment)
Residence Permits for non-EU citizens
Registration certificate for EU citizens all EU citizens that envision an extended stay in Romania and members of their family, including children, have to obtain this document
Issuance, renewal, and cancellation of Work Authorization (as assignee, local employee) or Authorization to act as a freelancer;
Expertise in the validation of studies abroad/ Acknowledgement of Studies with the Ministry of Education – compulsory process for obtaining work authorization. This service includes our handling of the translation, authentication, acknowledgement and validation with the Ministry of Education of the apostilled (the apostilles are to be obtained from the country which issued the document) or over legalized as the case might be, study diploma
Registrations with the National House for Health Insurance (C.N.A.S.) – non- EU citizens assigned by a foreign employer to a Romanian company and their family members have to register with Romanian Health System. Without the proof that they have paid these social contributions, they will not receive the Residence Permits extension
Immigration services also include dealing with Tax Authorities, National House for Health Insurance and preparing the application file, Territorial Labour Inspectorate notification, managing the process and liaising with the relevant authorities (Romanian Immigration Office, Embassies or Consulates, Education Ministry, Trade Register, Health Insurance Body etc.) on behalf of the client
Family reunion – advisory services for bringing in Romania their family; obtaining a family reunification Visa and R/P or Residency card (for non EU citizens married with EU citizens assigned to work in Romania)
Preparation and submission of monthly 224 tax returns (for assignees)
Obtaining from the Tax Authority a certificate attesting the income tax paid in Romania – certificate issued according to the Double Tax Treaty concluded between Romania and their home country. Based on this certificate, the persons assigned in Romania who were taxed in their home country as well, can deduct or be exempted from paying the income tax in their home country. The certificate may also be obtained for foreigners who were on local payroll in Romania.

Leasing of Personnel

Many Companies in their activities faced the situations when the stuff is overloaded, and to hire a new employee is unprofitable, and the work should be made professionally and in time. In this case the personnel lease could help. We understand the necessity and importance of hiring and properly on-boarding the best talent in the workforce and we are the partners that any organization needs when looking for additional personnel for determined periods.
Leasing of personnel is a relatively new concept for the labor market in Romania. We provide integrated personnel services for your company to get the needed efficiency. The major advantage of the integrated personnel services provided by us is that we deal with anything related to management and organization of human resources, from recruiting to payroll – including for foreign citizens (expatriates) – so that the activity of your company carries on at a desired pace.
Personnel leasing lowers costs for administration and accounting agenda (we ensure all the activities connected with contracts, register and deregister at the health insurance company, we deal with work incapacity, labour and insurance office controls, communicate with state offices and other institutions, keep the records which are required by the law).
We are accredited by MMSSF and have the necessary resources to administrate and cover such a need by providing the necessary personnel.

Specialised Translations

In our business, continuous and excellent communication with worldwide clients is the key to success. We have developed a team of professional translators as part of our group to help us communicate and provide deliverables and prompt solutions using specialised client-specific terminology.
We have a vast experience in translating highly specialised documents related to a wide range of industries, including technical, legal, pharma, energy, IT&C and cosmetics.

Certified Translations

All our translators are authorised by the Ministry of Justice and are able to perform certified translations bearing the translator’s stamp and signature.
Our work is defined by joint efforts of project managers, professional translators, and proofreaders to ensure authenticity and quality. Projects are selectively assigned to specialised translators based on their experience in various fields and CAT tools and terminology bases are permanently updated and improved.

Notarised Translations

Notarised translations bear both the stamp and signature of the translator and the stamp and signature of the notary; such translations are necessary when their submission is required for official purposes to various administrative institutions as well as to educational institutions.

Apostilled and Legalized Translations

We can provide our support in case an apostille or legalisation is required on the documents translated by our team, depending on the organisation or the country for which the translation is intended.
The documents used abroad may need to be apostilled (for documents to be used on the territory of the states that signed the Hague Convention) or legalised (for documents to be used on the territory of the states that did not sign the Hague Convention).

Simultaneous and Consecutive Interpreting

Professional interpreters are present to accompany our experts during meetings and conferences. In case communication may be rendered easier or additional information is needed to surpass language barriers and understand country and cultural specificity of deals, transactions or legislation, we can always rely upon our team of translators and interpreters.
Whether consecutive interpretation for client meetings or simultaneous interpretation for large conferences is required, we can assign the best interpreters on our team to meet such needs.
Therefore, we can provide consecutive and simultaneous interpreting services for business meetings, conferences, seminars, notarial authentications, meetings, interviews, accompanying the external delegations as interpreter, guide-interpreter services for foreign tourists or businessmen willing to invest in our country, simultaneous translation during conferences, workshops, training sessions, ensuring that communication is mediated under the best conditions and with the best results regardless of the topics of discussion.

Website Translation and Localization

We adapt the format and content of any website to any specific language and culture so that it seems natural to that country or region.

We can help with your website translation and localization in several international languages, while identifying solutions both to adapt to the identity and culture of the target audience, as well as to optimize keywords for promotional purposes in order to assist you in expanding your business globally.

In addition, we have a long-term partnership with a professional team of web developers who, in addition to website creation services, can also assist you with the following complementary services:

Domain Name Registration
Logo Creation
Website Administration
Google Analytics Reports
SEO (Search Engine Optimization)
SEM (Search Engine Marketing)
E-mail Hosting
Existing Website Revamp (both in terms of content and functionality)

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Content Proofreading and Format Editing

These are the crucial final stages of any writing process. Confusing or even costly outcomes may result if such stages are not adequately performed. We take time and care to carry out a proper check in any of our translation languages.
We can also provide proofreading and review services of translations carried out by Client’s translators, but if the translation received contains many errors, we recommend the performance of a new translation by our certified translators.