{"id":1530,"date":"2024-11-12T18:12:07","date_gmt":"2024-11-12T18:12:07","guid":{"rendered":"https:\/\/elvada.hlwp.net\/?page_id=1530"},"modified":"2025-06-26T09:28:05","modified_gmt":"2025-06-26T09:28:05","slug":"digital-accounting-plus","status":"publish","type":"page","link":"https:\/\/elvada.com\/en\/services\/digital-accounting-plus\/","title":{"rendered":"Digital Accounting +"},"content":{"rendered":"\n
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Digital Accounting +<\/h1>\n\n\n\n

Digital Accounting + offers an additional monthly reference statement of the company’s financial situation. The service is appropriate for larger clients or clients who would like to keep close track of their financial indicators, accounts payable and receivable and any company statements on a monthly basis.<\/p>\n\n\n\n

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Book a meeting<\/a><\/div>\n\n\n\n
Contact us<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n
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What is Digital Accounting +?<\/h2>\n\n\n\n


The Elvada Accounting Company works with large groups of international companies and has experience in Management reporting, Intercompany reporting and preparation of various reports and statements on the financial status of companies in the Bulgarian, Italian and English languages.<\/p>\n<\/div>\n\n\n\n

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We can offer a  monthly accounting reporting form or work with reports and statments of the group that are necessary for its monthly closure and consolidation.<\/p>\n\n\n\n

Monthly reports provide the Management with the opportunity to make informed business decisions.<\/p>\n<\/div>\n\n\n\n

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Reports for the Management<\/strong><\/strong><\/strong><\/h3>\n\n\n\n

We can prepare and produce the company’s statements within the the periods and deadlines set by the Management in a format in which the group of enterprises is reported, either under the International Financial Reporting Standards or the National Accounting Standards. The format of the statement can be specified by the client or automated by the system with which we work. <\/p>\n<\/div>\n\n\n\n

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Internal reports<\/strong><\/strong><\/strong><\/h3>\n\n\n\n

In the event that, at the end of month, companies within the group have intercompany debts, we can analyse and prepare a statement of these receivables, payables and statements between the individual companies.<\/p>\n\n\n\n

This information is important both for the payments and for the undertaking of timely and informed business decisions within the group.<\/p>\n<\/div>\n\n\n\n

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Consolidated statements<\/strong><\/strong><\/strong><\/h3>\n\n\n\n

We have a well established practice of preparing consolidated statements for groups of enterprises with the goal of tracking the financial status of the entire group through the elimination of related party items.<\/p>\n\n\n\n

We can prepare and produce these statements, including by working with the account codes with which you uniformly operate across the group, which will allow for the precise and accurate provision of information for the group’s consolidation.<\/p>\n<\/div>\n\n\n\n

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Automation<\/strong><\/strong><\/strong><\/h3>\n\n\n\n

We offer automation of the accounting reporting processes and can offer different solutions in accordance with the needs and requirements of the business and the accounting software that is being used. The automation of the process of data handling, processing and the subsequent direct exporting from the accounting system into the appropriate accounting reporting format, allows for the reduction of the risk of errors and the timely provision of accurate and correct  information to the Management.<\/p>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n

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\u201eThe Elvada Accounting Company has a highly qualified team in the field of accounting, taxation and legislation. The management team of the company is exceptionally qualified. In the course of our work, all activities that were agreed with the Elvada Accounting Company Ltd. have been performed on time and with a high level of quality.”<\/p>\n\n\n\n

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Claire Marguerita<\/strong><\/mark><\/p>\n\n\n\n

Financial Controller at Dalkia Bulgaria EAD<\/p>\n<\/cite>\n<\/div>\n<\/blockquote>\n<\/div>\n\n\n\n

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\u201eFor 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. To the 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 of professional accounting services.\u201d<\/p>\n\n\n\n

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Mladen Spasoff<\/strong><\/mark><\/p>\n\n\n\n

Financial Manager<\/p>\n<\/cite>\n<\/div>\n<\/blockquote>\n<\/div>\n\n\n\n

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\u201eIt 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.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

 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.<\/p>\n\n\n\n

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.”<\/p>\n\n\n\n

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Sheriff Paduvil<\/strong><\/mark><\/p>\n\n\n\n

Vice President of Finance<\/p>\n<\/cite>\n<\/div>\n<\/blockquote>\n<\/div>\n\n\n\n

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\u201eWe 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.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

It is with great pleasure that I recommend the Elvada Accounting Company to businesses that are in need of professional accounting services.\u201c<\/p>\n\n\n\n

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World Trade Centre \u2013 Sofia (Interpred)<\/strong><\/p>\n\n\n\n

Miroglio Real Estate 1 JSC<\/strong><\/p>\n\n\n\n

Miroglio Real Estate 2 JSC<\/strong><\/p>\n<\/cite>\n<\/div>\n<\/blockquote>\n<\/div>\n\n\n\n

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\u201eWe 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.\u201c<\/p>\n\n\n\n

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Diego Baratti<\/strong><\/mark><\/p>\n\n\n\n

Owner and manager<\/p>\n<\/cite>\n<\/div>\n<\/blockquote>\n<\/div>\n\n\n\n

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\u201eExceptional 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.\u201c<\/p>\n\n\n\n

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Donka Kosturska-Nikolova<\/strong><\/mark><\/p>\n\n\n\n

Manager<\/p>\n<\/cite>\n<\/div>\n<\/blockquote>\n<\/div>\n\n\n\n

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\u201eThe 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.”<\/p>\n\n\n\n

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Yuliana Borisova<\/strong><\/mark><\/p>\n\n\n\n

Manager<\/p>\n<\/cite>\n<\/div>\n<\/blockquote>\n<\/div>\n\n\n\n

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\u201eI 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 requirements of my business.\u201c<\/p>\n\n\n\n

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Iliya Iliyev<\/strong><\/mark><\/p>\n\n\n\n

Owner and manager<\/p>\n<\/cite>\n<\/div>\n<\/blockquote>\n<\/div>\n\n\n\n

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\u201eAn exceptionally reliable and dependable partner. Excellent communication with the company staff, resulting in a highly effective collaboration.\u201c<\/p>\n\n\n\n

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Sofia Dangova<\/strong><\/mark><\/p>\n\n\n\n

HR and Finance Manager<\/p>\n<\/cite>\n<\/div>\n<\/blockquote>\n<\/div>\n\n\n\n

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\u201eFor 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: \u201cWith care and dedication for you!\u201d. This is a dedicated and cohesive team with a youthful spirit. Trust them and you will not regret it!\u201c<\/p>\n\n\n\n

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Andrea Momerin<\/strong><\/mark><\/p>\n\n\n\n

Owner and manager<\/p>\n<\/cite>\n<\/div>\n<\/blockquote>\n<\/div>\n\n\n\n

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“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.”<\/p>\n\n\n\n

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Dr Emil Spasov<\/strong><\/mark><\/p>\n\n\n\n

Owner and Manager<\/p>\n<\/cite>\n<\/div>\n<\/blockquote>\n<\/div>\n\n\n\n

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\u201eDuring 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.\u201c<\/p>\n\n\n\n

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Chang Bong Kim<\/strong><\/mark><\/p>\n\n\n\n

Executive Director<\/p>\n<\/cite>\n<\/div>\n<\/blockquote>\n<\/div>\n<\/div><\/div>

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Frequently Asked Questions<\/h2>\n\n\n\n
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    What constitutes digital accounting and what are its advantages?<\/div><\/li>
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    What software are we using for digital accounting?<\/div><\/li>
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    How are documents processed and stored for digital accounting?<\/div><\/li>
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    Is digital accounting safe and secure and how does it ensure the protection of data?<\/div><\/li>
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    What is necessary for the transition to a digital accounting?<\/div><\/li>
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    How can I transfer my accounting data to the digital platform?<\/div><\/li>
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    What are the costs associated with switching to digital accounting?<\/div><\/li><\/ul>
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    What constitutes digital accounting and what are its advantages?<\/div><\/summary>
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    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.<\/p>\n\n\n\n

    The advantages of digital accounting:<\/p>\n\n\n\n

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    1. Automation:<\/strong> Digital accounting enables the automation of the processes of issuing, collecting, accounting and reporting for documents<\/li>\n\n\n\n
    2. Precision and reliability<\/strong>: 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.<\/li>\n\n\n\n
    3. Accessibility and mobility<\/strong>: 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.<\/li>\n\n\n\n
    4. Security<\/strong>: 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.<\/li>\n\n\n\n
    5. Integration with other systems<\/strong>: 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.<\/li>\n\n\n\n
    6. Analysis, accounting and reporting<\/strong>: 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.<\/li>\n\n\n\n
    7. Saving on costs<\/strong>: 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.<\/li>\n\n\n\n
    8. Conservation of the environment: <\/strong>With the reduction of paper documents and the digital storage of data, we contribute to the conservation of the environment.<\/li>\n<\/ol>\n<\/div><\/details>\n\n\n\n
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      What software are we using for digital accounting?<\/div><\/summary>
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      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.<\/p>\n\n\n\n

      The accounting software we operate with are Microinvest Delta Pro and Business Central\/Microsoft Dynamics.<\/p>\n\n\n\n

      We use an OCR system for the digital reading of documents.<\/p>\n\n\n\n

      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.<\/p>\n<\/div><\/details>\n\n\n\n

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      How are documents processed and stored for digital accounting?<\/div><\/summary>
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      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:<\/p>\n\n\n\n

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      1. Scanning\/photographing\/storage and digitisation<\/strong>
        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.<\/li>\n\n\n\n
      2. Uploading to a cloud system<\/strong>
        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.<\/li>\n\n\n\n
      3. Organization and categorization<\/strong>
        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.<\/li>\n\n\n\n
      4. Optical Character Recognition (OCR)<\/strong>
        After scanning, an OCR technology is used to recognize the digital documents and read the information in them.<\/li>\n\n\n\n
      5. Control and verification<\/strong>
        The inserted data is verified by an operational accountant and is checked and verified with the digital documents themselves.<\/li>\n\n\n\n
      6. Security and archiving<\/strong>
        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.<\/li>\n\n\n\n
      7. Data extraction and analysis<\/strong>
        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.<\/li>\n<\/ol>\n<\/div><\/details>\n\n\n\n
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        Is digital accounting safe and secure and how does it ensure the protection of data?<\/div><\/summary>
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        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.<\/p>\n<\/div><\/details>\n\n\n\n

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        What is necessary for the transition to a digital accounting?<\/div><\/summary>
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        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.<\/p>\n<\/div><\/details>\n\n\n\n

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        How can I transfer my accounting data to the digital platform?<\/div><\/summary>
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        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.<\/p>\n\n\n\n

        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.<\/p>\n\n\n\n

        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.<\/p>\n\n\n\n

        In order to have the documents transferred digitally, they will have to be photographed\/scanned and then uploaded to the shared space.<\/p>\n<\/div><\/details>\n\n\n\n

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        What are the costs associated with switching to digital accounting?<\/div><\/summary>
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        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.<\/p>\n<\/div><\/details>\n<\/div>