What Accounting and Payroll Services do we offer Corporate clients?

What Accounting and Payroll Services do we offer Corporate clients?

You can only make well-informed company decisions by having control of your finances and accurate reporting.

Whether you are part of a locally owned corporation or an international corporation looking to maximise your operations in Denmark, without having your in-house accounting department, you will need to work with a Danish accounting partner who can offer accounting, payroll, annual report, tax return and audit preparation services that will help make your operations in Denmark successful and profitable.

That is why many corporate companies in Denmark choose Dania Accounting to outsource their accounting and payroll needs.

At Dania Accounting, we have more than twenty years of experience helping corporate clients control their finances with accurate accounting and payroll services.

Dania Accounting At A Glance

An international accounting firm that caters to both locally owned and foreign corporate companies operating in Denmark.

Composed of a team of vetted and experienced accountants to ensure your accounting remains compliant with Danish regulations, effective, and accurate.

Works with major audit firms in Denmark, such as Martinsen, EY, KPMG, PwC and Beierholm, to ensure your business remains credible in the eyes of investors, banks and shareholders.

We offer these services

Accounting;
Payroll;
Annual Report;
Tax Return;
Audit Preparation;
Registration and incorporation.

Who is Dania Accounting, and what differentiates us from competitors?

With more than two decades of handling accounting and payroll for our international clients, we are proud to say that we are not just an accounting firm but also your trusted local business partner.

Headquartered in Copenhagen, Denmark, we specialise in helping our corporate clients to ensure their accounting needs are met while staying compliant with the complex regulations in Denmark.

That being said, our ultimate focus is to get our corporate clients on track throughout the year and help them avoid any unwanted surprises due to the changes in regulation and the complex business landscape in Denmark.

To be precise, more than 400 international companies outsource their accounting needs To Dania Accounting as to,

1. Stay compliant with Danish legislation

Our expertise and focus on Danish accounting and payrolls allow us to stay up-to-date on accounting and payroll legislation in Denmark.

This assures our corporate clients that their company is always compliant, as we can inform and help them make the necessary changes ahead of time.

2. Get more control over their finances

As we mentioned earlier, making progress and critical decisions depends heavily on a company’s financial reports.

This is precisely why many outsource their accounting needs to us.

Our group of trained accountants will ensure that accounting and payroll are done accurately and efficiently so that companies can make their next move based on real numbers rather than inaccurate reports.

3. Tap into our expertise

With more than 20 years of experience, we give our clients the confidence that they can rely on us to give their financial records the professional touch they deserve.

Our accountants speak business-level English and have experience working with larger international corporations.

In short, we set our clients up for success by outsourcing their accounting and payroll.

4. Get a bespoke solution for their accounting needs

We understand that only some of our clientele will have the same needs, and we expect them to do so.

Sometimes, they might need to outsource just a part of their accounting or payroll needs; we get it.

In lieu, we will work together to offer them a solution that will fit their unique needs now and serve them well in the long run.

5. Reduce their overhead cost

As a company that regularly hires accountants as full-time employees, we understand the financial implications that it can have.

Even if you are a big company, outsourcing your needs to an accounting firm is often a smart move.

Here is why:

Complex financial accounting and reporting challenges that your internal team members are not ready for.

These can be new problems they have never faced before or situations requiring a lot of expertise and experience.

In this case, input from an experienced accounting firm like Dania Accounting is needed to help businesses navigate through these issues.

6. Automate their accounting workflow

We believe relying entirely on spreadsheets and human labour to fulfil the accounting needs of a business is a thing of the past.

Instead, we use the latest technologies and workflows to minimise the time spent on accounting and payroll.

Rather, as part of our efforts to provide our clients with more accurate financial reporting, we will help them move to a smarter, more integrated financial software system that optimises their financial records and invoices for the digital age.

7. Minimise their risks

It is common knowledge that no business comes without risk.

While we can’t completely eradicate risks for our clients, we can minimise them and maximise their profits by applying industry best practices.

This includes securing confidential client information and pairing up with major audit firms for extra credibility and to avoid financial discrepancies.

Now that we have covered why our corporate clients choose us over our competitors, it’s time we take a look at the;

Services that we offer to our corporate clients

Accounting

1. Supplier Invoices

Depending on your requirements, we book supplier invoices daily, weekly, or monthly.

Supplier invoices are provided digitally by a shared invoice drop or uploaded directly to the ERP.

Usually, this is done either directly by you or the supplier.

Now, the payments are made automatically in the Internet banking system if your current ERP system allows this.

To prevent financial losses, we will generally require you to approve all the payments before making the transfers so that you pay only for what you receive from your supplier-nothing more, nothing less.

We will reconcile every supplier invoice upon receipt and manage any outstanding invoices for you.

All the confirmations from your suppliers will be copied and attached as supporting documentation with each invoice received so that no one can claim that their invoice has not been paid, as you receive all your confirmations directly from your suppliers.

If necessary, we can assist you in negotiating supplier issues if they arise by calling or conversing with them.

2. Sales Invoices

One of our main specialities is helping businesses with their sales invoices.

We help you match your bank records to your sales invoices to ensure accuracy in quantities, prices, and clients.

This way, you clearly understand how much money you have collected in relation to how much money has been spent on purchases, salaries, and other expenses.

We typically use ERP systems like e-conomic, SAP or Microsoft Dynamics to streamline your sales invoices and help you create templates for repetitive, subscription-based invoices.

3. Bank reconciliation

Most bank reconciliation issues can be traced back to inadequate procedures.

Banks issue regular statements listing transactions, but companies must reconcile these numbers with their company’s accounting records.

The best way to accomplish this task is by having a formal process.

Our team of accountants specialises in this, and we can help businesses with their daily, weekly or monthly reconciliation efforts and notify them if any records need to be included.

4. Asset registry

Apart from reconciliation, we offer the service of keeping track of assets and inventory for our corporate clients.

This provides a list of assets and investments held by our corporate clients, which allows them to keep tabs on depreciation, appreciation, and potential sale of these assets.

After all, if it isn’t in writing, does it exist?

5. Accruals and provisions

Often, the accrual of expenses and provisions for corporate companies is not handled correctly.

An audit can reveal the errors in these areas.

We help businesses to avoid this by ensuring their accruals and provisions are constantly updated.

With this, we can identify precisely where the money is going and how it’s being spent, allowing businesses to make important decisions about their finances in the future.

6. Monthly or quarterly reviews

Our firm reviews all companies monthly or quarterly. We strongly believe that reviewing a company’s financials regularly is key to keeping it as profitable and easy to maintain as possible.

Typically, these reviews are conducted over a Teams call where we would go over the accounts step by step.

During these reviews, we ensure that our clients are aware of their VAT and tax obligations, that all documents have been filed on time, and that all purchases have been made correctly.

Payroll

7. Payroll

It doesn’t matter whether corporations hire employees as part-timers, contractors, freelancers, or full-timers; we help them complete their payroll accurately.

Here at Dania Accounting, we ensure our clients’ employees get paid on time and their taxes and holidays are calculated accurately with the help of payroll software like DataLøn or Danløn.

Annual Report

8. Annual Report

We provide a full annual report service for corporate clients that does not require an annual audit.

For an ApS, submitting an annual report to the Business Authority is required by law.

This needs to be done latest six months after the end of the fiscal year, together with the tax return.

We prepare the annual report for you and make sure it gets submitted to the Business Authority.

If your ApS is required to be audited, we have audit partners that audit the accounting we have done.

Tax Return

9. Tax Return

Our team also provide a fill tax return service for corporate clients.

An ApS can choose to pay estimated amounts for corporate income tax in March and November.

And also, there is a voluntary payment in February related to the previous year.

We can help you estimate how much corporate income tax to pay and make sure it gets registered correctly.

Read more about company income tax and dividend tax here

Preparation For Audit

10. Preparation For Audit

The majority of our corporate clients have an annual audit.

We help them prepare for the audits by reconciling their balances and gathering all the documents needed for their audits.

While most of our clients do have their own auditors, when needed, we would connect them with an external auditor for their auditing needs.

You can read more about audit requirements in Denmark here

We work with some of the best audit firms in Denmark and handle the audit process in cooperation with our audit partners.

For audits, we often work with the following audit firms:

Martinsen
Beierholm
Deloitte
PwC
EY

Registration and Incorporation

11. Registration and Incorporation

We assist our clients with registration for VAT, as an employer, corporate income tax, excise duties, and other relevant obligations.

Also, we can handle the incorporation process when incorporating a new ApS or A/S.

You can incorporate, own and be the director of an ApS as both resident and non-resident of Denmark.

Read more about the ApS here

See what information we need from you to incorporate an ApS

Our Price For Accounting Services

Accounting services are invoiced according to elapsed time.

An invoice is sent every month with a timesheet documenting our work.

We offer the following hourly rates for accounting services:

375 DKK + VAT for clients with at least 20 hours of accounting services per month;

450 DKK + VAT for clients with 3-19 hours of accounting services per month;

550 DKK + VAT for clients with 1-2 hours of accounting services per month.

A minimum of 1 hour per month (550 DKK + VAT) is invoiced.

The hours you need and the hourly rate applied are based on a monthly average during a calendar year. We estimate the number of hours needed per month in the beginning and then adjust the hourly rate during the year if necessary.

We may request a retainer.

How much time do we need to provide the Accounting Services

On average, corporate clients normally need between 5-40 hours of accounting services per month.

In addition to this comes correspondence like emails, phone calls and meetings.

The more hours you need, the lower price we offer you.

Read more about our prices here

Our Price For Payroll Services

Payroll services are invoiced according to elapsed time.

An invoice is sent every month with a timesheet documenting our work.

We offer the following hourly rates for payroll services:

375 DKK + VAT for clients with at least 20 hours of payroll services per month;

450 DKK + VAT for clients with 3-19 hours of payroll services per month;

550 DKK + VAT for clients with 1-2 hours of payroll services per month.

A minimum of 0,5 hours per month (275 DKK + VAT) is invoiced.

The hours you need and the hourly rate applied are based on a monthly average during a calendar year. We estimate the number of hours needed per month in the beginning and then adjust the hourly rate during the year if necessary.

We may request a retainer.

How much time do we need to provide the payroll service?

As a guideline, expect an average of 15-30 minutes per payslip.

Read more about our prices here

Our Price for Annual Report and Tax Return services

Annual Reports and Tax Return services are invoiced according to elapsed time.

We offer the following hourly rate:

800 DKK + VAT

How much time do we need to provide the Annual Report and Tax Return services?

As a guideline, expect the following:

Sole proprietorships: 5-8 hours annually;

Holding companies: 5-8 hours annually;

ApS and A/S: 10-20 hours annually.

The time needed depends on the complexity of the Annual Report and Tax Return.

A minimum of 3 hours (2.400 DKK + VAT) is invoiced.

We may request a retainer.

Read more about our prices here

In a nutshell

Having the right accounting partner is crucial to ensure your operations in Denmark are more profitable and easily scalable.

So, if you’re looking for an accounting firm in Denmark that can help you to maximise profits, look no further than Dania Accounting.

Book a free online meeting to learn more about our services.

(Updated last time: 1.4.2024)

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