Continuous financial accounting in accordance with current legislation (local, IFRS or group accounting policy) according to the chart of accounts and cost centers specified by the client

• Financial accounting system: Navision
• Location: at KPMG office or at the client’s registered seat in the client’s system
• Bookkeeping in HUF or EUR
• Working language: client communication takes place in English or in Hungarian

Financial accounting and related services

• Issuing invoices from the Navision system, which ensures the data provision requirements of the Hungarian Tax Authorities
• Registration of invoices, sending for approval
• Possibility of direct access right to Navision, which enables our customers to track their bookkeeping and approve invoices
• Preparation of transfer lists
• In case of booking an entire group, we can perform reconciliations between affiliated companies and support transactions (e.g. calculation of interest)
• Archiving service
• Preparation of MNB reports
• For newly-established clients, the fulfillment of various registration obligations (e.g. to Statistical Office, Chamber of Commerce and Industry, or EGYKE)
• Navision training
• Development of automated queries relating to a client's other financial processes
• Process development, process design

Monthly closing procedures

• Preparation and provision of monthly reports based on client instructions
• Preparation and provision of various reports (e.g. general ledger, open customers, open suppliers, sales list)

Preparation of regular management reports

• Preparation of mapping structure between local and group chart of accounts
• Preparation of group reporting package in accordance with client’s instructions

Year-end closing procedures

• Preparation and publishing of financial statements
• We provide support to a company’s appointed auditor for the statutory audit of financial statements

Tax compliance services

• Preparation and submission of yearly and top up corporate income tax returns
• Preparation and submission of VAT returns
• Preparation and submission of local tax returns
• Preparation and submission of Intrastat or other statistical reports
• Assisting with provision of necessary documents to the Tax Authorities in case of tax audits
• Other taxes (e.g. innovation contribution, company car tax)

Advisory and other services

• Business gate services
• Translation services
• Seating services
• Accounting Advisory Services (HAL, IFRS)
• Providing support in preparation of accounting policies
• Analysis of contracts from tax or accounting perspectives
• Recommendation of other departments:

o   Tax advisory
o   Transfer Pricing services
o   Legal services