Prices for accounting services as part of clearing arrears depend on many factors. Such as labor intensity, business profile or selected settlement methods.
Due to the specificity of this type of services and the need to use dedicated software (recovery of arrears, e.g. up to 5 years ago), the price for clearing arrears is higher than for current accounting services by as much as 30% (calculated on the gross amount).
What to look for when studying prices?
When collecting arrears, it is worth remembering that the documentation often has to be recreated, as well as tax returns (VAT, PIT, CIT, ZUS) corrected. On the one hand, if sales invoices or bank statements are missing, the service delivery time is extended. But on the other hand, the company may ask its contractors for a copy of the sales invoice. In addition, it is worth paying attention to the obligation to settle exchange differences. And appropriate valuation for the financial statements. Especially in the case of foreign currency accounts or transactions with foreign entities.
Still, although every company is different, clearing arrears always requires more work than current accounting. It is also worth emphasizing that the price list of accounting services in the case of settling arrears for each client is set individually to meet the expectations and requirements of both parties. Also here, as in the case of other services, solutions should be sought. To avoid problems related to the recovery of arrears.
Avoid additional problems?
First of all, if the company wants to avoid additional problems, it should take care of its documentation. And regularly make corrections to tax returns. Then, for example, in the absence of sales invoices or bank statements, the company should request copies from contractors as soon as possible. Ultimately, to avoid exchange rate and valuation issues, a company should take care of its real-time accounting.
All in all, it is worth remembering the above issues when settling arrears. And also that proper settlement and care for documentation can prevent problems in the future. Therefore, every company should try to avoid arrears and take care of its accounting in real time.
Although every company is different, clearing arrears always requires more work than current accounting. It is certainly worth paying attention to the fact that in the case of collecting arrears, the price list of accounting services for each client is determined individually. So that it meets the expectations and requirements of both parties. Therefore, it is worth looking for solutions that will avoid problems related to the settlement of arrears.