Accounting services of contracts

Jun, 02 2020

According to legislation, a contract is an agreement of two or more persons include civil rights and responsibilities. Conclusion of contract entails to establishment of a legal connection between parties to agreement. Therefore, in contractual relationship, subjective rights and obligations of parties are realized.

An agreement implies contractual obligations: one of participants assumes obligation to perform a specific action in favor of other. It can be about transfer of property, performance of work, payment of money. And if organizations are parties to contract, all these operations should be reflected in accounting. Our company specializes in accounting and contract preparation services in Moscow. VALEN lawyers will develop agreements on performance of work, provision of services, sale of goods and many others.

Why should professionals deal with agreements?

Having decided to draw up a contract, many entrepreneurs refuse assist of lawyers and services in field of accounting. They decide to independently draw up a document and take, as a rule, as a rule, a standard contract from Internet.

However, as a result, text of document may turn out to be hopelessly outdated; it may be based on already inactive amendments and provisions. Because of this, contract is invalidated in future. Also, model documents do not take into account conditions and nuances of transaction, so company does not actually receive necessary legal protection. In order not to take risks, seek assist to experts in drawing up contracts.

Another important point: accounting of contracts depends on type of obligations that organization assumes. For example, when providing accounting and taxation services, it is important to analyze tax consequences of transaction. When concluding contracts, competent specialists should take into account taxation system that t second party applies.

Why is it important? Because, depending on conditions of partner, you can reduce your own tax base. It is possible that there is an opportunity to take advantage of deductions. In particular, more company has supplier organizations that pay value added tax, greater amount of deductions.

If supplier uses special taxation system, such deductions are not possible. For example, this may apply to those who use simplified tax system or single tax on imputed income for certain types of activities.

According to article 9 of the law “On Accounting”, all facts of economic activities should be confirmed by supporting documents. We are talking about primary documents on basis of which accounting is conducted, therefore it is closely associated with preparation of commercial agreements. In addition, in accordance with current legislation on accounting, primary accounting document should be drawn up during fact of economic activity, and if this is impossible, immediately after its completion.

Authorized persons commit themselves to timely execution of primary documents, their transfer in a timely for taking in accounting. They are also responsible under the law for accuracy of information in documents.

VALEN specialists have extensive experience in field of accounting and contracting services. We provide qualified assistance to individual entrepreneurs, large corporations and small businesses. 

Contact us for taking a consultation on drafting of contracts or order accounting service in Moscow and other regions. Our company will take care of all legal and financial issues, protection your business from risks and penalties from regulatory authorities.

You can order accounting and contracting services or take consultation with specialists via phone +7 (495) 7-888-096! We are also glad to meet you at our office in Moscow.

Author of the article
Accounting services of contracts
Valentina Khlavich
Managing Partner
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