Bucharest, 3rd District, 13 Decebal Boulevard
Suite S15, 1st Floor, Apt. 44
office@contabiz.ro
+40 726 266 847

Accounting

Your accounting is one click away! Our accounting services represent a tool you can use to efficiently manage your company by offering the financial vision you need. At the end we will email you all the reports, in a  PDF format, you history will be uploaded in the  Cloud, and you can browse your document on  Google Drive.

From a financial point of view, accounting offers you:

  • Internal information which will help you to better judge the financial status of your company
  • External information related to clients, suppliers, banks and/or state institutions

From a management point of view, accounting offers you:

  • KPI analysis
  • Managerial accounting records
  • Advanced accounting reports

Alongside Contabiz you can benefit from full accounting services or individual service packages like balance sheets and human resources..

What we do?

Details about the Contabiz team's competencies

Primary Accounting

  • Primary documents
  • Cash register

Stock Accounting

  • Cost/Income centers
  • Direct/Indirect costs
  • Managerial Balance

H.R.

  • Payment states, timesheets, salary flyers
  • REVISAL operations
  • Personal file

Inventory Accounting

  • Transfers
  • Periodic Inventory audit

Fiscality

  • Payment obligations
  • Tax declarations
  • VAT dossiers

Managerial Reports

  • Financial indicators
  • Financial analysis

Financial Accounting

  • Monthly accounting records
  • Sales and Purchase Logs
  • Registry log, inventory and fiscal records

Financial situations

  • Balance Sheet
  • Trimester, Semester and Annual situations
  • Signing and Depositing financial situations

Representation

  • A.N.A.F. representation
  • I.T.M. representation

What you need to know

Details about key processes

Contabiz has a team of accounting experts that are ready to represent your economic activity, both from a financial and fiscal point of view.

What you need to know?

The accounting records of your company will be processed by your accounting expert so that you can benefit from:

  • Receiving daily/weekly/monthly reports in an electronic format
  • Daily/Monthly primary accounting and stock accounting
  • Daily/Monthly financial accounting and managerial accounting
  • Fiscal data regarding taxes owed to the government
  • Receiving financial situations via email
  • Writing and Depositing all fiscal declarations
  • Receiving advanced accounting reports
  • Address financial KPIs
  • Fiscal notifications from your accounting expert
  • Representation before A.N.A.F. representatives

Our services are targeted towards all commercial societies, non-governmental organizations and registered sole traders, existent or recently established, which conduct economic activities in Romania.

The accounting balance sheet offers you all the necessary information regarding the financial evolution of your company in the last 6 months or the last year. Additionally, the financial situation of your company will be compiled by your accounting expert either quarterly and/or annually, or whenever the need arises.

What you need to know?

  • The balance sheet reflects the status of your company
  • The Profit and Loss account represents the economic result of the company
  • Profit allows shareholders to receive dividends after the balance sheet is approved
  • The dividends are returned within  60 days since the date of the balance sheet approval
  • The loss is covered by the current or future profit, reserves, capital bonuses or social capital bonuses, as per A.G.A.

What fines you can receive?

  • Between 2.000-3.000 RON for failing to compile and sign the annual balance sheet
  • Between 300-1.000 RON for depositing the files within 15 working days after the legal deadline expired
  • Between 1.000-3.000 RON for depositing the files within 16-30 working days after the legal deadline expired
  • Between 1.500-4.500 RON for depositing the files 30 working days after the legal deadline expired
  • Between 2.000-5.000 RON for failing to lodge the annual financial balance sheet

The certification of your company’s financial situation consists of the accounting balance sheet compilation, together will all its annexes and reports, but also by the successful signature and lodging.

Your accounting expert will deal with the following human resource-related activities:

  • Compiling I.T.M. – R.E.V.I.S.A.L. documentation
  • Personnel files handling
  • Informing employees about personal data processing
  • Compiling electronic presence sheets related to the daily time tracking
  • Processing monthly time sheets and salary flyers
  • Calculating taxes and contributions and lodging the 112 declaration
  • Releasing documentation to employees (certificates, Eliberare documente către salariați (adeverințe, filed indemnities, pension files etc.)
  • Compiling the Internal Regulation of Operations and Internal Organization

What fines you can receive?

  • Between 300-2.000 RON for not respecting the minimum wage salary in Romania
  • Between 2.000-5.000 RON for stipulating contractual clauses which go against the Labor Code
  • Between 20.000 RON for employing an individual without drawing up an individual employment contract
  • A fine of 20.000 RON for failing to lodge the employment contract in R.E.V.I.S.A.L.
  • A fine of 10.000 RON for allowing an employee to work outside the C.I.M. established work hours

Our Human Resources-related services are targeted towards all companies, Contabiz supplying all the necessary solutions for handling a HR department.

The Contabiz team has put together a wide range of HR documentation which you can access by clicking here.

Alongside Contabiz, you will benefit from the following:

  • Real time accounting services
  • Full or Individual Accounting Service packages, Human Resources, Financial Certifications
  • Specialty consulting included in the chosen package
  • Accounting reports, Fiscal declarations, balance sheets and all documentation received in pdf format
  • All standard forms and accounting obligatory records
  • Notices related to fiscal and accounting regulation changes
  • Notices about your company’s accounting status and representation in front of control bodies
  • Advanced management reports which will allow you to streamline your investments and reduce operational costs
  • A team of accounting experts, legal lawyers and HR experts, all collaborating to enable the growth of your business

Useful Information

Additional details about accounting

From an administrative point of view

What is the turnover ceiling for micro-companies?

  • The turnover ceiling is 1.000.000 €

What are the tax rates for micro-companies?

  • 1% for a micro-company with 1 full time employee
  • 3% for a micro-company with 0 employees

What are the tax rates for dividend withdrawal?

  • 1% or 3% income
  • 5% dividends
  • 5.5% health insurance

Can the administrator take a loan from the company?

  • The current legislation forbids company loans to the company administrator

How can you check the fiscal status of your company online?

  • Your company’s fiscal status can be checked by the empowered individual through the Virtual Private Space

How long do fiscal debts are prescribed?

  • 5 years for fiscal obligations rights or 10 years for penal incidence

Contabiz Expert Accounting

From a cash register point of view

What is the deadline for changing cash registers for micro-companies?

  • 1st November 2018 is the deadline for changing cash registers

Tax bill or invoice?

  • Purchases of maximum 100 RON require a stamped tax receipt containing the company’s UCI, and purchases over 100 RON require a fiscal bill
  • Fueling company cars with a maximum of 100 Euro require a stamped tax receipt containing the company’s UCI, and fueling cars with over 100 Euro requires a fiscal bill

Is there a cash ceiling for the cash register?

  • Current legislation does not establish a cash ceiling for cash registers

Which are the limits related to receipts and cash payments from the cash register?

  • For receipts and payments, the limit is 5000 RON per individual
  • Fraction payments, each worth 5000 RON, are not allowed

Can you make payments in foreign currency to a Romania-based company?

  • No, these operations are made only in the national currency
  • Exceptions are made only through BNR derogation

What fines do I receive if I don’t allow ANAF in the premises?

  • Refusing to allow ANAF checks leads to a fine of 25.000-27.000 RON

Contabiz Expert Accounting

From a HR point of view

What is the minimum wage in Romania?

  • Starting with 1st of January 2018, the gross minimum wage is 1900 RON

What taxes do I pay for a minimum wage?

  • For 1900 RON gross wage, the taxes and contributions are 738 RON, the employer paying only the occupational insurance contribution (CAM) amounting to 43 RON

What is the proof of salary payments?

  • The electronic salary payments are proven by the bank statement, and cash salary payments by the payroll signatures and salary flyers

What is the standard retirement age?

  • For women, the retirement age is 63 years, and for men, 65 years

What are the minimum and complete retirement pension stages?

  • The minimum is 15 years for both men and women, and the complete stage is 35 years for both men and women

What is the minimum number of employees to enable an union?

  • The minimum number is 15 employees within the same unit

SSL