Bookkeeping and Accounting services in the Netherlands
ABiLiTieS Trust, an Amsterdam based accounting office, can assist your business in the Netherlands with a broad scope of bookkeeping and accounting services:
> Interim reporting
> Payment processing
> Annual reporting
> Filing of publication accounts with the trade register
> Benchmark reporting for statistical purposes
Our firm has extensive experience with accounting of limited liability companies (BV's), foundations (stichtingen), Coops (coöperaties) and funds for joint account (FGR's).
You can also benefit from our Dutch expertise by having internally prepared bookkeeping and accounting reviewed by ABiLiTieS Trust's accurate senior accounting staff.
Why hiring ABiLiTieS Trust for doing the bookkeeping and accounting?
> We are specialists of local accounting principles (Dutch GAAP) and IFRS and have full knowledge of the consolidation and audit requirements in the Netherlands.
> One of the Dutch tax substance criteria is having the administration executed in the Netherlands.
> ABiLiTieS Trust's attractive fees.
Contact us to discuss how we can help your company and to request a fee quote. You are also welcome for a personal meeting at the WTC Amsterdam.
Before which date a Dutch company shall prepare its annual report?
In accordance with Dutch law the annual figures shall be prepared within five months after closing of the financial year. The deadline can be extended for a period of five months.
Some financial information from the annual report shall, by means of publication accounts, be published with the trade register (Kamer van Koophandel). The publication of the report shall be done within 12 months after closing of the financial year. In case all the shareholders of the Dutch company are also director or supervisory director the term can be limited to 10 months and eight days.
Making the deadline for filing the publication report is very important because of potential personal liability for the directors of the Dutch company and the risk of penalties. ABiLiTieS Trust will monitor all deadlines for you so you will not need to worry about this.
What does the bookkeeping and accounting of a BV costs?
The accounting standard is an important factor. The notes to the financial statements are a lot more extensive under IFRS than under Dutch GAAP. Therefore the application of IFRS is more expensive. The use of Dutch GAAP for a Dutch company whereby there is a consolidation at a higher level under IFRS should in principle possible.
The size of the Dutch company is relevant because for medium and large sized companies an audit and consolidation can be required. The size of a company is determind on the basis of the parameters: number of employees, turnover and assets. Hereby the number of employees, turnover and assets of (in)direct subsidiaires also have to be taken into account. In case of a consolidation at a higher level, there is possibly an exemption from audit/consolidation. Under article 2:408 Dutch civil code allows under such circumstance to determine the size of the Dutch company without assessing the subsidiaries. Many holding companies qualify micro or small sized under application of this section.
The activity level of the business, i.e. the number of agreements and invoices determines the number of bookings. Nowadays many processes can be automated. Though still the activity level is an important factor in the final reporting expenses.
The use of capital is less laborious than loans. Therefore, the use of capital often brings savings on bookkeeping and accounting expenses in comparison to financing.