Accounting outsourcing

Industry:Equipment manufacturing| Country:Russia
26/10/2019

We set up a subsidiary for DEBAG, handled all of their bookkeeping, acted as an interim administrator and prepared tax returns.

Customer

DEBAG is a 100-year-old German bakery oven manufacturer company. Since 1911, it has been producing high-quality bakery ovens. Customers include bakeries, food retailers, and catering establishments such as hotels, restaurants and petrol stations.

The challengeThe solutionThe result

The challenge

Foreign companies entering the Russian market must organise their accounting and reporting systems in accordance with local regulations.
Russian accounting appears complicated to companies that are unfamiliar with it. It is highly formalised, as it is governed by numerous legal requirements. The company must document, sign and stamp all evidence of economic activity.
This approach means that the task of establishing an efficient document flow is a top priority for any Russian accountant. Compared to the majority of Western countries, Russian accounting requires twice the amount of paperwork to report on the same economic transactions.
After SCHNEIDER GROUP registered a local business entity for DEBAG in 2013, the company decided to outsource their accounting to us.

The solution

Since its entry into the Russian market, SCHNEIDER GROUP has provided DEBAG with all of the services it requires to drive growth.
Since 2013, SCHNEIDER GROUP has provided interim management for the company and represents DEBAG to authorities in matters pertaining to customs and the preparation of tax declarations, working closely with the parent company and following its directions. SCHNEIDER GROUP also provides legal advice and IT service desk services for DEBAG employees, as well as training on 1C usage.

The result

DEBAG has been operating in Russia for three years now with great success. Using our accounting services, the German partner company stays up-to-date, and local employees can focus on their core business activities.

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