Accounting, payroll
and project management services for foundations
Foundations, following associations, are the second most common legal structure for NGOs in Poland. Non-governmental organizations necessitate an accounting office equipped with the knowledge, competence, and experience to effectively tailor accounting and financial services to meet the distinct requirements of the law, as well as the financing and management methods and processes within the organization.
Frux stands as an accounting office intimately acquainted with the intricacies of NGOs. We confront their daily issues and challenges head-on by delivering comprehensive accounting services.
In the realm of NGOs, all entities engaged in the execution of public benefit tasks—funded not only by public sources but also by private contributions and European grants—must exercise diligence in adhering to the stipulations outlined by the funding bodies. These stipulations encompass various aspects, including accounting and financial services. It is understood by every accounting office that these requisites are novel to the non-governmental third sector, thus prompting ongoing enhancement. For instance, the tenets of bookkeeping necessitate a profound understanding of numerous domains. Those rendering accounting services should be held to stringent standards.
Distinct regulations are applied to the non-governmental sector with regards to accounting services, notably encompassing tax regulations and financial reporting protocols. Furthermore, NGOs frequently oversee projects that benefit from co-financing through European funds, presenting their own unique characteristics. The disbursement of these funds mandates an adept accounting service that not only observes accounting standards but also navigates the intricacies of intricate budgeting and accounting procedures.
The Frux accounting office comprehensively comprehends these matters. Our continuous progression encompasses an expanding array of accounting services tailored specifically for NGOs.
Our team comprises individuals with extensive expertise spanning years in accounting, finance, and NGO management. We possess the capacity to adeptly manage entrusted assignments, whether they encompass commercial bookkeeping or other diverse forms of accounting services.
In conjunction with accomplished professionals within the NGO sphere, we engage with experts including legal consultants, tax specialists, and authorities in public and European funding, all specializing in the third sector. This collaborative approach ensures the optimal provision of our services.
Our services include
- Keeping of accounts
- Payroll services
- Personnel services
- Design services, support in the preparation and implementation of projects financed from European and other sources
- Financial management
- Advice and legal services
- Miscellaneous administrative work
Detailed scope of services per group
Accounting services
- Keeping of the Commercial Register in as per the current legislation
- Keeping goods and services tax registers
- Preparation of relevant tax returns
- Delivery of the abovementioned declarations to the relevant Tax Offices
- Preparation of reports for statistical and tax purposes
- Representation before tax and other authorities
Accounting services
- Establishing the individual Chart of Accounts of an entity
- Keeping fixed asset records
- Settlement of accounts with counterparties
- Preparation of tax payment documents
- Supervising tax payment deadlines
- Provide explanations to the Principal and at his request in connection with the performance of the contract
Payroll services
- Payroll preparation for the client’s employees (also segregated for projects)
- Preparing obligatory forms and declarations pertinent to the insurance of our client’s employees, and subsequently submitting them to the relevant authorities.
- Maintenance of personal salary slips for employees
- Preparing and delivering documents related to the client’s role as payer to the relevant authorities
- Preparing contractual payment documents
Personnel services
- Maintenance of personnel files
- Preparing documents related to the establishment and termination of employment contracts
- Drafting of the relevant annexes
- Ensuring timely medical examinations and health and safety training
- Calculating and controlling accrued holiday days
- Storing the aforementioned documents
Project services
- Searching for sources of funding
- Providing support for the application process in financial terms
- Project budgeting
- Preparing financial and accounting documentation for projects
- Day-to-day supervision of project finances
- Preparing project accounts
- Preparing financial payment applications
Financial management
- Preparing and analyzing reports
- Liquidity management
- Enterprise risk analysis
- Preparing and implementing procedures and improvements within the company
- Participating in IT implementations
- Exchange rate risk management
- Participating in negotiations, evaluating commercial agreements
- Team leadership, structure building and staff appraisal policy
- Administration management – control of contracts, documents, approval levels, workflows
- Other
Legal services
We work with reputable advisers and law firms.
- Registration of entities with the National Court Register, amendment of articles of association, registration of business activities
- Tax law
- Labour law
- Business law
- Other
Virtual office and other administrative work
- Dealing with administrative matters for the client
- Address sharing
- Handling the customer’s telephone, e-mail
- Running the chancellery
- Other
As a legal entity, a foundation is obligated to maintain either complete or simplified accounts and formulate regular financial statements. It is important to consider that such an organizational structure functions across various tiers, engaging in activities like public initiatives, establishing donation agreements, and sponsoring projects. Consequently, the accounting services for such an entity is notably intricate, demanding an intricate understanding of diverse legal provisions and their pragmatic implementation.
Embarking on self-directed bookkeeping is not advisable. Opting for a more prudent approach involves delegating this responsibility to a professional firm such as Frux, which employs adept personnel specialized in the realm of non-profit organizational bookkeeping. Our services extend throughout Poland and internationally, underscored by extensive experience in providing comprehensive accounting solutions for foundations. We take on the entirety of duties connected to maintaining the records of these entities and fulfilling their tax obligations.
Bookkeeping for foundations – comprehensive services at the highest level
Our remit includes the implementation of a range of activities. We carry out full bookkeeping for NGOs and provide HR and payroll services for them. If necessary, we advise consumers on a variety of matters relating to accounting for charitable activities. A foundation cooperating with Frux can count on us not only to provide full accounting services, but also to take over all duties related to the preparation of management reports. We also take an active part in setting the institution’s accounting policy. In addition, we take care of entering payments into the system, calculating staff salaries and making transfers to both subordinate and beneficiary accounts.
Frux – professional accounting service for foundations
At Frux, our accounting office is committed to a personalized approach for each client, finely tuning our offerings to align with their unique requirements. Our foremost endeavor is to secure unhindered access to a spectrum of professionals from various domains (such as legal experts and tax advisors) for the foundation benefiting from our accounting services. In this regard, we engage in collaboration with qualified legal practitioners, primed to furnish specialized guidance whenever specific circumstances dictate.
The range of accounting services we deliver encompasses the meticulous accounting of supplementary business activities undertaken by the relevant entity, aimed at generating the necessary funds for fulfilling its statutory obligations. In such instances, the Foundation has the flexibility to opt for either comprehensive or streamlined accounting approaches.
