Client: IT Company (Industry: Information Technology)
Project Duration: 2020 – Present
Service Provider: ATCA Sarl
Background
When the client approached ATCA Sarl, they were dealing with years of incomplete financial statements. Several years (2014-2020) of financial records were missing or unreported, creating a significant gap in their financial history. The company needed urgent help to get their financials in order and prepare them for auditing.
Challenges
* Missing financial statements for multiple years (2014-2020)
* Urgent preparation of 2022 financial statements for audit
* Issues with payroll, social charges, VAT, and general accounting practices
Actions Taken by ATCA Sarl
1. Immediate Financial Review and Preparation:
* ATCA Sarl reviewed and prepared the 2022 financial statements, ensuring they were in a state ready for audit.
* The team quickly tackled missing registrations and corrected social charges to meet legal obligations.
2. Reconstructing Missing Financials:
* ATCA Sarl worked backwards to reconstruct financial statements for the years 2020 and 2021, filling in gaps left by the previous management.
* This required fixing payroll discrepancies, adjusting VAT processes, and ensuring correct accounting practices were implemented.
3. B2B Structure and Payroll Fixes:
* The team re-registered the company, fixed payroll issues, and streamlined the B2B structure, ensuring compliance with all relevant regulations.
* Adjustments were made across various accounting elements, including VAT and employee treatments.
Results
* Financial Statements Recovered: Missing financial statements for several years were reconstructed and made compliant for audit.
* Audit-Ready Financials: The 2022 financials were successfully prepared for audit, ensuring the company was up to date.
* Improved Financial Processes: Payroll, VAT, and accounting processes were streamlined and corrected, stabilizing the company’s financial operations.
* Ongoing Support: ATCA Sarl continues to work with the client to maintain financial health and ensure ongoing compliance.
Conclusion
ATCA Sarl’s swift intervention helped the client recover from years of incomplete financial records, bringing the company’s financial situation back under control. By streamlining accounting and payroll processes and reconstructing missing financials, ATCA Sarl set the company on a path to stable and compliant financial operations.