The Business Process Outsourcing services supposes to transfer tasks to SMAR Outsourcing Solutions in the following areas:

• accounting and financial outsourcing
• accounting and tax setting
• reports compliance
• accounting and management reporting
• financial planning
• tax accounting
• payroll
• HR administration
• other services requested by the clients

SMAR Outsourcing Solutions performs all or selected tasks of the Financial and Accounting Department depending on the client’s needs. Our extensive experience, expertise and a broad range of proven solutions combined with our commitment to learn the client’s business specificities are reflected in a top quality of our services.

Accounting and Financial outsourcing are essential to the success of forward-thinking organisations. To get the optimum benefit from this part of your business, you'll need an experienced team behind you.

At SMAR Outsourcing Solutions, we bring our knowledge and experience to this part of your business while you focus your energies on your core activities. We draw on clearly structured numbers to provide you with an overview of your business, identifying weaknesses and unlocking potential for growth. Choosing to outsource accounting to SMAR Outsourcing Solutions you will cut down on costs, minimize your operating risk and guarantee freedom and operational continuity of your company.

In addition, SMAR Outsourcing Solutions provides Accounting in accordance with IFRS and GAAP international standards. Accounting in accordance with IFRS provides a complete and objective picture of your company’s current state of affairs. IFRS/GAAP accountancy is the closest procedure to managerial accountancy and focuses on business objectives, so it’s good for decision making.

SMAR Outsourcing Solutions runs accountancy to provide reporting formed accordingly with international standards via paralleled accountancy per Belarussian Accounting Standards and IFRS.

We support you with the following:

• In-house/on-site accounting compliant with local accounting acts and IFRS/GAAP
• 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
• 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

FAST CLOSE
One of SMAR Outsourcing Solutions’ advantages in the sphere of accounting is an optional early closure of the reporting period for international companies (known as fast close, i.e. getting management accounts ready on the third to the fifth business day following the end of the month/year).

HOW WE DO FAST CLOSE
We use additional 1c settings
We use a special add-on (if needed)
We plan workload in advance
We audit and consult

Currently, over 90% of SMAR Outsourcing Solutions’s customers use fast close. We take pride in helping our clients promptly get reliable accounting data that they need to go about their business.

Salaries and, in addition, staff management are the biggest and most time-consuming tasks growing companies faced with.

Payroll accounting in compliance with all requirements of labor and tax legislation of the Republic of Belarus is a complex process demanding financial and human resources. This is a work place arrangment, payment of taxes from payroll, purchase and program update, professional development and retraining, etc.

An accounting staff worker is not always in charge of only payroll. In most cases his job responsibilities are wider as a result some mistakes could be made in calculations.
SMAR Outsourcing Solutions can manage these responsibilities on your behalf, allowing you to concentrate on what you do best - a growing business.

Our professional team has got a big experience in payroll outsourcing and could suggest a full package of services in this area, namely:

• Payroll in Belarusian rubles and in foreign currency as well
• Calculation of compensation payments provided for by the legislation of the Republic of Belarus
• Calculation of income tax and deductions to extra-budgetary funds
• Collaboration with tax authorities and extra-budgetary funds in case of questions regarding reporting
• Advising on employment law
• Preparation and submission of all reporting requirements

In addition, we could provide a number of services that could help you to minimize the time taken to complete your duties.

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