Services · Switching accountants

Switching to an English-speaking accountant in Bulgaria – at any time of the year

Your accountant does not answer in English, misses deadlines or you simply want a better service? We take over the accounting of your company from the previous accountant – in Yambol or online from anywhere. We tell you which documents to ask for, check them and continue without a break in your returns.

How the switch works – 4 steps

1. A conversation. You tell us about the company – activity, documents per month, VAT, employees. We tell you the exact monthly fee before we start.
2. Contract and access. We sign a contract (it can be done at a distance) and you give us a power of attorney for the online services of the National Revenue Agency – signed with your qualified electronic signature or notarised.
3. Handover of the documents. You ask the previous accountant for the documents on the list below. We receive them with a handover protocol – on paper or by email.
4. Check and continue. We reconcile the balances, the liabilities to the tax office and social security, and the last returns filed. If something is missing, we tell you straight away and fix it. From the next month everything is with us.

What to ask your previous accountant for

• the trial balance and general ledger up to the last closed month (and an export file, if the software allows it);
• the annual financial statements and annual tax returns of the last years;
• the VAT ledgers and returns, VIES and OSS returns (if the company is VAT registered);
• the payroll records, employment contracts and personnel files (if the accountant keeps them);
• the depreciation schedules – accounting and tax – and the inventory lists;
• the accounting policy and the chart of accounts;
• the source documents (invoices, bank statements, cash documents) the accountant still has;
• all correspondence with the tax office and social security – letters, checks, audits, instalment plans.

The Bulgarian Accountancy Act requires the company to keep payroll records for 50 years and the accounting registers and financial statements for 10 years (Article 12, paragraph 1). That is why the documents must stay with you, not with the accountant.

When is the best time?

The easiest is to switch at the beginning of a month, after the previous accountant has filed the returns for the previous month (VAT by the 14th, social security by the 25th). If that is not possible, we also file any late returns. Before the deadline for the annual accounts it is important to agree who will close the year.

If the previous accountant does not reply

Ask for the documents in writing (by email or by registered letter) and set a deadline. You can see the returns filed and the liabilities of your company yourself in the online services of the tax office with an electronic signature – and we can rebuild the accounting from them and from the bank statements.

Questions

Can I change my accountant in the middle of the year?

Yes. The switch can happen in any month. The new accountant continues from the last closed month, and the annual closing is done by whoever keeps the books at the end of the year – unless agreed otherwise.

Do I have to inform the tax office that I am changing my accountant?

No. The new accountant gets access to the online services of the National Revenue Agency with a power of attorney, and you can withdraw the old one.

What if the previous accountant does not give me the documents?

The documents belong to your company and it must keep them. Ask for them in writing. If you do not receive them, we rebuild the accounting from the returns filed with the tax office and from the bank statements.

Do you work with companies outside Yambol?

Yes. We work online with companies from all over Bulgaria – the documents come by email and the returns are filed electronically. See how our online accounting works.

How much does it cost to switch to you?

The fee depends on the number of documents per month, VAT registration and employees. Send us the details of your company and we will tell you the exact monthly fee before we start.

Source: Accountancy Act – Article 12 (retention periods) and Article 14 (in Bulgarian). General information as of the date of the last check – not legal advice. See also how our online accounting works.