Payroll and Bookkeeping

All businesses, whether a public company, private company or an independent business owner, are required to utilize professional bookkeeping services, to meet the standards, taxation levels, and legal directives as required by the supervisory authorities. Bookkeeping is also an effective tool for managing the business, with the aim of reducing the attention paid by the organization’s managers to the financial aspects of the business, leaving them to focus on the core business activity.

The Payroll and Bookkeeping Department, managed by  Rozi Wainstain, was established to provide bookkeeping as part of the many services that Baker Tilly provides. The Department, staffed by a team of experts, includes bookkeepers and salary controllers with decades of experience.

The Payroll & Bookkeeping Department provides, among others, the following services:

• Statements of profit and loss, balance sheet and cash flow statements at monthly level
• Consulting and ongoing supervision of the accounting and payroll accounting department
• Ongoing advice on wages and salaries and approval of wage payments to employees and institutions for employees
• Building a budget, profit and loss statements and projected cash flow statements for decision making
• Preparation of presentations to management for each monthly report.
• Regularly monitoring and approving payments
• Budget monitoring and control, preparation of budget reports, and monthly budget versus execution checks
• Working with the tax authorities and monthly reports to VAT
• Direct contact with financial entities of parent companies abroad and monthly reports
• Ongoing treatment with the auditors regarding the audit of the financial statements and preparing material for the audit
• Preparation of annual and quarterly financial statements.
• Reporting and the transfer of tax, social security and social benefits payments to the relevant authorities
• Production of monthly and annual reports to the tax authorities

Our experience shows that the combination of the specific expertise in the field of accounting for companies of any scale, with bakertilly's capabilities and the international business relations resulting from bakertilly's global operations, will create significant added value for our customers.