Accuracy and delivery time
Successful Accounting work and business solutions are driven by many responsibilities. Time and commitment are a critical terms when it comes to responsibility. Being able to finish tasks within deadline holds an important messages to the authorities and parties you’re dealing with. It can be translated into trust and respect. For tax authority “Skatteverket” for example it means compliance with laws, being organized and maintaining good reputation.
Time commitment is important for those who’re planning to enter business world, especially financial and accounting fields. All types of financial reports have specific deadlines that must be complied with, for example the submission of VAT “Moms” reports should be submitted during a specific date, so any delay will encounter the business owner to fines or to investigations. A company also has a financial yearly report which called “Bokslut”. It is important to submit it on time for both; Tax Authority “Skatteverket” and Companies Registration Office “Bolagsverket”.
Time given by the authorities to submit the tax reports and financial statements is sufficient and is taking in consideration that business owner should be able to submit them withing the deadline.
Delay leads into troubles
The failure to pay invoices at time, or the delay to submit the financial reports to the Tax Authority “Skatteverket” will expose companies to fines, as well as harming their reputation, if it’s repeated more than once, these companies may be subject to control, audit and financial penalties.
We would like to mention that some accountants try to circumvent the reports submit deadline by submitting these reports with “zero” values, especially VAT “Moms” reports, to come back to them later after few months and change them. This action is considered negligence and recklessness procedure. The legislators when allowed entering null values they meant the true status of the financial reports or uncertain results. Busy accountants and unqualified ones usually use this method without even informing their clients. The Tax authority can sometimes add a surcharge of 20% of the VAT provided due to the misleading and incorrect repetitive data entries.
We are at NextGates Business give time our top priority. All of our reports are up to date and submitted within the deadline.