Professional Payroll Accounting in Russia
Payroll accounting in Russia means complex calculations of wages and salaries, extensive personnel documentation and Russian specific guidelines of administration. Compared to payroll accounting in Western Europe or the US there is a much higher workload for the accounting department.
For subsidiaries and representative offices of international companies in Russia, we take care of the complete payroll accounting including personnel documentation.
The Russian accounting differs from Germany, Western Europe or the USA
1st example: Corresponding to the Russian labor law, the salary of an employee has to be paid at least twice a month. If an employee takes a holiday, this determination is complicated further still. The salary drawn by an employee during his leave is computed based on his average salary over the last twelve months. Bonuses, salary increases, or a 13th monthly salary also influence the calculation. Salaries must be paid out prior to holidays.
2nd example: For each employee, a so-called labor book must be maintained. Here, the employer records the job title, period of employment and reason for dismissal. A journal must be kept detailing all labor books in the company in their entirety.
3rd example: Not only in the event of new hires, dismissals or business trips, but also when the employee is going to go on vacation, the contract of employment, written notice, or the application for vacation as well the so-called internal directives (“Prikazy“) have to be drafted and signed by the general director.
Why is it so important to make sure your payroll accounting in Russia is in good hands?
The calculation of wages, salaries and taxes for every company is a topic which you only want to give toemployees or external service providers who are trustworthy. Even more in Russia, where these calculations are far more complex and harder to understand, formal and informal structures within the company play a much higher role and where in general everything is less transparent for people from abroad, one should keep in mind the importance of selecting the right personnel. The outsourcing of accounting can be safer in Russia. This can also be a way to prevent distrust and conflicts within the company.
Of course, the company faces unexpected losses if the wage of an employee was calculated too high. But also vice versa, paying an important employee less than he should have got can lead to serious trust issues. Even if the missing share would be paid later, such incidents can highly demotivate this employee to work efficiently. With the outsourcing of the payroll accounting you minimize those risks.
What are the advantages of outsourcing payroll accounting?
- you don’t have to look for a Russian payroll accountant and worry about motivation and supervising.
- you don’t have to pay for recruiting, wages and quality management.
- you prevent your employees from abusing their power of adjusting their wages or the salaries of their friends and colleagues. This way you prevent conflicts within the company as well.
- you have complete control and transparency over your business in Russia.
- as a contact person you will get a qualified Russian accountant who speaks English fluently.
- you always have access to our lawyers, IT-specialists and German consultants.
- all of our employees stick to the Artax Rufil Consulting Corporate principles.
- additional security due to the appliance of antivirus and antispy software, regular training for our employees and further security standards.
- we are always loyal to our clients and partners.
- long term thinking and long term business relationships in Russia.
- adoption of liability regarding to our accountancy contracts as well as a liability insurance.
Further reasons to work with Artax Rufil Consulting in Russia
- we are a quality service and customer oriented company
- all of our employees stick to our corporate principles
- we are a German company and adhere to German virtues
- we work in Russia since 2007
- through our services and performances we support international companies in Russia and generate that way a higher quality of life for our clients, employees and investors
- we have access to a well functioning network of experts in several business areas in Russia
Our service package “Payroll Accounting in Russia” contains the following services:
- preparation for disbursement of wages and salaries (cash or via bank transfer);
- calculation and bank transfer of income tax of your employees (monthly);
- calculation and bank transfer of all other taxes (monthly);
- keeping the staff files (monthly);
- all reports for the social insurance (quarterly);
- all reports for the pension fund (quarterly);
Further services we offer our clients regarding taxes and accounting in Russia:
- Accounting Outsourcing in Russia
- Tax Accountancy in Russia
- Financial Reporting in Russia (IFRS, US-GAAP, Russian GAAP)
- Internal Audit in Russia
Our quality promise:
“Your contact person will be a senior accounting specialist with a good command of English who regularly participates in professional training, is permanently employed at Artax Rufil Consulting and based at our office in the very center of Moscow. Don’t settle for less!”
Highly qualified accountants, auditors, IFRS experts, tax consultants, experts and programmers for automation, accounting software and IT solutions as well as international management consultants work in our Moscow office. Our working languages are English, Russian, Chinese and German.