Digitization and optimization of processes in internal accounting departments
The Elvada Accounting Company has been for more than 5 years now working and operating entirely in a digital manner, with our team having successfully digitalized and automated the work both within our own company and in large groups of companies with which we work.
We believe that there are many companies that have internal accounting departments yet lack the time and resources to invest in digitalization, optimization, and automation of their accounting processes. It is because of this reason that we have decided to offer our experience and knowledge to these teams.
With the attainment of an in-depth understanding of your business we offer to provide you with solutions that will be specially tailored to your companie’s needs and requirements:
Cost management systems
Cost management systems, which include automated processes for document collection, payments, organization, and import into databases or platforms.
Optimized processes
Optimization of the processes of accounting reporting of digital documents, using systems for their recognition, reading, and accounting.
Integrations
The integration of the banks with accounting software.
Data export
Exporting of data and preparing of reports
The benefits and advantages to your business would be many, some of which are:
Increased efficiency
The optimized and automated processes significantly reduce manual tasks, saving time and resources.
А more accurate information
The use of cost management platforms would improve substantially the quality of the information processed, with minimal effort.
Reduction of costs
The improvement in workflows and the reduction in errors will lead to a lower operating cost and a better management of the finances. Working with digital documents saves time, paper and consumables.
Increased accuracy
Digitalisation minimises human error, ensuring a more precise representation of the accounting information and its reflection on financial statements and indicators.
Flexibility
The automated systems allow for an easier scaling and adaptation to the growth of a business, providing flexibility in handling the needs of the buisness that are constantly changing.
„It is with great pleasure that we recommend the Elvada Accounting Company, which has been providing accounting services to the Fly2Sky group of companies for the past two years.
During this period, The Elvada Accounting Company has provided us with an unparalleled and exceptional service, demonstrating professionalism, attention to detail and a deep understanding of our accounting needs and requirements. Their professional expertise has significantly contributed to the financial precision and regulatory compliance of the companies from our group.
I would like to express our sincere gratitude and acknowledgment to Ms Elena Rusinova, Owner and Managing Director of the Elvada Accounting Company, for her exceptional support and dedication. Her leadership and personal involvement ensured that our expectations were not only met but often exceeded. On the basis of our experience, I would not hesitate to recommend the Elvada Accounting Company to any organisation seeking reliable and professional accounting services.”
Sheriff Paduvil
Vice President of Finance
„We have been working with the team at Elvada Accounting Office since May 2024. During this brief period of collaboration, I would like to express our gratitude for the professionalism with which diligently perform their work. They swiftly and precisely transferred the data from the accounting program used by the companies that are managed and governed by Interpred-STC Sofia to the software product that they utilise.
The efficiency and expediency with which they work and their adherence to all relevant deadlines makes them a highly desirable and sought-after partner in the field of accounting services.
It is with great pleasure that I recommend the Elvada Accounting Company to businesses that are in need of professional accounting services.“
World Trade Centre – Sofia (Interpred)
Miroglio Real Estate 1 JSC
Miroglio Real Estate 2 JSC
„The Elvada Accounting Company employs and provides a highly qualified team in the fields of accounting, taxation and legislation. The management team of the company is of the highest professional standards and qualification. During the course of our collaboration and work, all agreed upon activities with the “Elvada Accounting Company” have been carried out in a timely manner and performed with a high level of quality.“
Claire Marguerita
Financial Controller at Dalkia Bulgaria JSC
“We are thoroughly satisfied from our cooperation with the Elvada Accounting Company, with the work that has been performed, the competence of the employees in resolving issues and problems that arose during the work process.”
Diego Baratti
Owner and manager
„For our commercial activities and operations in Bulgaria, we rely entirely on the professionalism of the Elvada Accounting Company Ltd. services for the handling of our companys’ accounting, payroll and taxes. Tothe present moment, we have always been provided with timely and accurate services and support, and all deadlines have been strictly adhered to. We recommend the Elvada Accounting Company as a reliable partner to anyone in need ofprofessional accounting services.”
Mladen Spasoff
Financial Manager
„Exceptional professionals who treat every client with and individually and thoughtful approach. A young and professional team of experts whom we have trusted and relied upon ever since the very inception of our company. Working with the team of the Elvada Accounting Company is easy and effortless, they keep up with the latest technological developments and are always informed about changes and updates in the legislation related to the specific area of work.“
Donka Kosturska-Nikolova
Manager
“The Elvada Accounting Company is a trusted and reliable partner of ours, thanks to whom we can smoothly and easily navigate the entire work process while dealing with a wide range of different situations and resolving various issues. They offer not only professional services, but are also genuinely and personally committed to finding solutions to any problems and issues that may arise. The team of the Elvada Accounting Company provides us with security and saves us time, that we can use to focus on developing our businesses. In the Elvada Accounting Company , we have found precision, a personalized approach, attention and commitment, as well as a high level of digitalization, which greatly facilitates the work process.”
Yuliana Borisova
Manager
„I have been working with the Elvada Accounting Company ever since it was established for more than 18 years now. Throughout the years, the company has provided professional and reliables services for all my business ventures. During this time, the team at the Elvada Accounting Company has always been an extremely valuable and reliable partner by being both competent and supportive to the needs and requirments of my business.“
Iliya Iliyev
Owner and manager
„An exceptionally reliable and dependable partner. Excellent communication with the company staff, resulting in a highly effective collaboration.“
Sofia Dangova
HR and Finance Manager
„For more than 10 years, I have been working with Elena Rusinova and the team at the Elvada Accounting Company. With them, you will not only find professionals, but also people who will assist you with dedication, care and understanding when facing challenges and difficult moments. Every day, they adhere to the motto: “With care and dedication for you!” This is a dedicated and cohesive team with a youthful spirit. Trust them and you will not regret it!“
Andrea Momerin
Owner and manager
“For more than 4 years, our partner and accounting consultant has been the Elvada Accounting Company Ltd. Throughout the years, we have always received high-quality accounting services and reliable weekly reports related to the specifics of our business. I recommend the Elvada Accounting Company Ltd. to anyone who needs expertise, professionalism and precision in accounting services.”
Dr Emil Spasov
Owner and Manager
„During the course of our contractual relations, the Elvada Accounting Company has successfully, competently and in accordance with the statutory deadlines fulfilled its obligations in relation to the commitment of provided subscription accounting services to our companies.“
Chang Bong Kim
Executive Director
„For two years of working together, we have been convinced of the professionalism, correctness and integrity of the Elvada Accounting Company in execution of the commitments that it has undertaken. We would like to express our exceptional satisfaction with their swift, efficient, and professional communication and services. The Elvada Accounting Company is our primary partner on the path to optimisation and transformation through the innovative digital solutions that they provide in the field of labour and employment relations management. We also highly appreciate the fact that the Elvada Accounting Company follows closely all changes and developments related to the labour legislation and provides us with expert and professional advice and consultations on labour related legal issues.
Being convinced of the expertise, professionalism and high quality of the services provided by the Elvada Accounting Company in the field of labour and payroll activities, highly appreciating the opportunities for implementation of their digital solutions, as well as based on the proven relationship of correctness and loyalty during our partnership, we highly recommend the Elvada Accounting Company as a reliable partner in the field of labour and payroll services.“
Dimitar Nikolov
Manager
„I have been working with the Elvada Accounting Company for more than 4 years. They were recommended to me by a friend, and it all started with a brief but very useful consultation.
Then, when I decided to set up my own company, which I run as a freelancer, I entrusted them with the entire company registration process and accounting services.
During this whole time, I have been exceptionally satisfied with their accounting services – I can always count on them for reliable advice and meticulously accurate accounting (we have not received a single comment or remark from the NRA, NSSI or any other institution).
In this way, I can focus on my primary business activity, while knowing that the accounting and accounting documentation are in the right and capable hands.”
Daniel Nikolov
Owner and manager
„I highly recommend the services of the Elvada Accounting Company and Elena Rusinova in particular, who has consistently assisted me with my annual tax returns over the previous few years. My situation is unique, as it involves assets such as shares (RSU & ESPP) that I have acquired through my employment with an American company.
In this accounting company they always approaches all tasks and undertakings with exceptional professionalism and attention to detail, while explaining everything in a clear and understandable manner. The process runs smoothly, and the tax declaration is always prepared flawlessly and on time.
For anyone who values their time and doesn’t want to become an expert in everything, the Elvada Accounting Company is the right choice.”
Alexander Savov
„We have been working with Elena Rusinova’s team since 1 July 2020 and for nearly five years now we have always been receiving high-quality services in the areas of accounting, finance, payroll and fiscal consulting. We are provided with quick and timely information about any and all changes in the legislation, new requirements for companies and the necessary documents. The employees work efficiently and respond promptly to our daily queries, always providing competent advice and opinions.
One of the greatest advantages of the Elvada Accounting Company Ltd. is its focus on and constant adaptation to the new technologies that are emerging. The digitalization of the platform for our team has enabled us to more efficiently manage the primary accounting documents and work in a fully digital environment.
We are pleased to recommend the Elvada Accounting Office Ltd. as a reliable partner to anyone who needs professional accounting services.”
Maria Angelova
Manager
Frequently Asked Questions
What constitutes digital accounting and what are its advantages?
What software are we using for digital accounting?
How are documents processed and stored for digital accounting?
Is digital accounting safe and secure and how does it ensure the protection of data?
What is necessary for the transition to a digital accounting?
How can I transfer my accounting data to the digital platform?
What are the costs associated with switching to digital accounting?
What constitutes digital accounting and what are its advantages?
Digital accounting is the process of organizing, processing and managing accounting information through the use of software applications and online platforms. It involves the automation of traditional accounting processes and processing of documents, including the preparation of statements and analysis of financial indicators.
The advantages of digital accounting:
Automation: Digital accounting enables the automation of the processes of issuing, collecting, accounting and reporting for documents
Precision and reliability: Software solutions minimize the risk of potential human errors that often occur with the manual entry of data. Automated systems also ensure greater accuracy in the calculations and accounting and reporting.
Accessibility and mobility: With digital accounting, you can access your documents, tax and accounting information, financial data, all with just one simple click, 24/7, from any location and at any time, as long as you have an internet connection. This makes it easier both for the owners of business as well as their accountants.
Security: A high level of security to protect sensitive financial information is fundamental when working in a digital environment. In order to provide such a high level of security, access control methods, data and information encryption, the use of backup systems, antivirus programs, and other measures to protect data from unauthorized access are utilized, complying with security , storage and recovery protocols.
Integration with other systems: Digital accounting is easily integrable with other business systems such as CRM (Customer Relationship Management), ERP (Enterprise Resource Planning) and POS (Point of Sale) and systems for the management of costs. This enables better management of overall business activities.
Analysis, accounting and reporting: The modern digital accounting systems offer powerful instruments for the analysis of financial data. They can generate various types of reports, statements and graphs that can assist the businesses in making informed decisions.
Saving on costs: Trough automation and efficiency, digital accounting can help with the reduction of operating costs. In addition to this, it can reduce the need for a large number of employees that have to deal with accounting tasks.
Conservation of the environment: With the reduction of paper documents and the digital storage of data, we contribute to the conservation of the environment.
What software are we using for digital accounting?
The shared space with our customers is SharePoint. SharePoint is a web-based platform for collaboration and management of documents developed by Microsoft. It provides a centralized place where information, files and projects can be shared and managed within the confines of an organization.
The accounting software we operate with are Microinvest Delta Pro and Business Central/Microsoft Dynamics.
We use an OCR system for the digital reading of documents.
We can also offer other platforms and systems related to the automation of processing documents, management of costs, with most of them integrate with Microsoft Business Central.
How are documents processed and stored for digital accounting?
The processing and storage of documents for digital accounting involves several key steps and processes that ensure precision, security and efficiency. Here are the key steps:
Scanning/photographing/storage and digitisation The first step is the scanning/photographing of paper documents if you are still working with them, which is extremely easy and can be done even with just a mobile phone. If you already receive the documents digitally, then you can simply store them directly in the shared space with the Elvada Accounting Company.
Uploading to a cloud system The digital documents are uploaded to a cloud storage system. the Elvada Accounting Company uses SharePoint, a web-based platform for collaboration, management and storage of documents developed by Microsoft. Cloud-based systems offer security, accessibility and the ability to share documents between different users.
Organization and categorization The documents are organized and categorized in accordance with the needs of the business. In SharePoint, you will be able to upload your documents into the shared space with the Elvada Accounting Company. Again, there, after processing, you will find them organized and arranged by folder, in digital format, at your disposal just one click away, 24/7.
Optical Character Recognition (OCR) After scanning, an OCR technology is used to recognize the digital documents and read the information in them.
Control and verification The inserted data is verified by an operational accountant and is checked and verified with the digital documents themselves.
Security and archiving The security of the data is of paramount importance to us and it is for this reason that we have chosen the SharePoint platform, as a Microsoft product, to be the shared space with our clients. We guarantee the data security, the control of access, use of antivirus programs, as well as their daily backup and archiving.
Data extraction and analysis Modern digital accounting systems offer the generation of various types of reports, statements, graphs and analysis that will assist the businesses in making informed decisions.
Is digital accounting safe and secure and how does it ensure the protection of data?
As shared space with its clients, the Elvada Accounting Firm has chosen to work with SharePoint, which as a Microsoft product, includes exceptionally high levels of security. For the security of the data, IT specialists are also employed which follow clear and specialized protocols and procedures concerning the control of access, data storage, the use of antivirus programs and the daily backup of all information.
What is necessary for the transition to a digital accounting?
The only thing you need is the desire to streamline and optimise your processes, making your life easier and your information more accessible. You can see in the section what are the five steps to transition to digital accounting.
How can I transfer my accounting data to the digital platform?
That which we always recommend to our client is, if we begin working together at the beginning of the year, then this year for his company will be starting digitally.
If the accounting up until now has been kept and conducted on paper, the records will remain on paper and will be kept within the statutory time limits.
However, if we start working in the middle of the year, it’s always good to digitise the preceding months as well. That way the company will have a full year with a digital/electronic archive and won’t have to search for some information on paper and other digitally.
In order to have the documents transferred digitally, they will have to be photographed/scanned and then uploaded to the shared space.
What are the costs associated with switching to digital accounting?
There are no costs or expenses involved in the transition to a digital accounting. On the contrary, changing from paper to digital accounting will help you save on consumables, document printing, stationery, filing and processing time.
We can offer you also
Digital Accounting +
The Elvada Accounting Company has experience in Management reporting, intercompany reporting, preparation of various reports and statements on the financial condition of companies, as well as management reports for large groups of companies, tailored to the needs of information and consolidation.
As of 2024, The Elvada Accounting Company offers digital accounting and reporting of paid leaves. Everything happens exceptionally easy, digitally, with just one click, with all information available to both employees and management 24/7.
За да предоставим най-добрите преживявания, използваме технологии като бисквитки, за да съхраняваме и/или получаваме информация за устройството. Съгласяването с тези технологии ще ни позволи да обработваме данни като поведение при сърфиране или уникални идентификатори на този сайт. Несъгласието или оттеглянето на съгласието може неблагоприятно да повлияе на определени функции и функции.
Функционални
Always active
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Опции
Техническото съхранение или достъп е необходимо за легитимната цел на съхраняване на предпочитания, които не са поискани от абоната или потребителя.
Статистика
Техническото съхранение или достъп, което се използва изключително за статистически цели.Техническото съхранение или достъп, което се използва изключително за анонимни статистически цели. Без призовка, доброволно сътрудничество от страна на вашия интернет доставчик или допълнителни записи от трета страна, информацията, съхранена или извлечена за тази цел, обикновено не може да се използва за идентифициране на вас.
Маркетинг
Техническото съхранение или достъп е необходимо за създаване на потребителски профили за изпращане на реклама или за проследяване на потребителя на уебсайт или на няколко уебсайта за подобни маркетингови цели.
What constitutes digital accounting and what are its advantages?
