What kind of information do I have to share with my Hungarian accountant?

Which are the basic data of my company?

The basic data of your company include the following:

• your company’s name
• your company’s seat address
• your company’s tax number and EU VAT number

These pieces of information are relevant not only to your accountant but also to your partners. They should be indicated in any invoice you issue and any contract you close. When any of these data changes, make sure you

• inform your accountant,
• inform your partners who regularly invoice you,
• update the settings of your Hungarian invoicing software, and
• update your contract templates.

What else should I inform my Hungarian accountant about?

Of course, in order to keep your books up to date, your Hungarian accountant needs to know it all about your company’s activity. You should be in contact with your accountant regularly even if your company is yet inactive – that is also an important piece of information, which should also be reported to the Tax Authority.

You should regularly send your accountant

• all invoices you issued,
• all incoming invoices of the purchases for the company,
• all contracts (e.g.: with your partners / customers, office rental etc.)
• all supporting documents (e.g. shipping documents, warehouse documents etc.)
• bank account statements
• the attendance sheets of your employees.

Also, make sure you let your accountant know

• BEFORE a new employee starts working for your company (or before you terminate an employment contract),
• BEFORE you move your office or store to a new location,
• BEFORE you start a new business activity or
• BEFORE you take dividend (or salary) from your company.

Is there anything else?

Your Hungarian accountant is your true ally to make sure your Hungarian company always complies with regulations. Apart from the above, he/she will always let you know in due course if any other data is needed – you just have to provide those data. Moreover, while he/she takes care that your company operates transparently, your accountant may also offer you management accounting, which can help you make forecasts and better plan your activities – for which more data might be necessary. With any questions, feel free to contact the Accounting and  Finance department of Helpers today. Call our office on +36.1.317.8570, or send a letter to finance@helpers.hu.