JAQUAR
TASK
- Prompt assistance for Manufacturer of Premium-Class Bathroom Products Jaquar to enter the Russian market (2–3 months in advance).
- Setting up and keeping financial accounting records of the Russian branch.
SOLUTION
- Opening a settlement account for Jaquar.
- Preparing accounting policies and regulations.
- Setting up financial accounting from scratch (the client contacted us without a duly set up financial accounting process and understanding of the document management flows).
- Developing financial business processes (distribution of responsibility between teams, control over the submission of documents).
- Setting up currency control.
- Timely submission of reports to regulatory authorities.
RESULT
- Every year, Unicon Outsourcing helps the client to get a VAT refund in the amount of RUB 2 to 21 million through full-scale support of the tax audit: from assistance in filling out the tax return to attending meetings with auditors.
- The financial accounting and document management processes have been established: communications have been built, bank access rights have been differentiated, risks have been identified, and consultations have been held on contract concluding and goods importing.
- Tax and financial accounting policies and bonus regulations have been drafted.
- An automated two-way real-time exchange between the financial accounting database and trade module has been set up. Documents are uploaded into the database in a completed but not posted form, which allows the accountant to verify their correctness before posting. The UT module makes it possible to download various price lists with discount systems and to generate management reports, including sales reports by employee, gross profit, etc.
- Regular consulting support, including with regard to tax risks and document management requirements.
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