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Accounting for IT companies

The IT sector is one of the most innovative, constantly shaped by emerging technologies and new business models. Companies in this space often operate with both local and international partners and clients, which introduces specific accounting requirements. Accounting in the IT industry must not only comply with current legislation, but also reflect a deep understanding of the digital environment and the innovations tech companies bring to market.

IT businesses often work with subscription-based models (SaaS) or provide digital products, which adds extra layers of complexity to their accounting – from correct revenue recognition to handling transactions across multiple platforms and currencies.

What makes accounting for IT companies different?

Like any other business, IT companies need to track revenues, expenses, and payroll. However, accounting in this sector includes nuanced and industry-specific elements that require deep attention to detail and expertise in the following areas:

Revenue models and proper recognition

Structuring of expenses

- especially as IT firms typically have high fixed costs

Accounting for license fees, SaaS models, and subscription services

Treatment of development and R&D costs

- when they are operational vs. capital expenditures

Tax implications when working with international clients

— within and outside the EU (including VAT exemptions, VIES reporting, and 0% VAT rules)

Specifics in taxing remuneration for IT specialists

- whether on freelance contracts or via third-party providers

Assessment of VAT obligations

when using third-party platforms, cloud services, or SaaS tools

Accounting for digital income

from online courses, mobile apps, advertising traffic, and other digital assets

Support in preparing financial reports

for investors and participating in funding programs

Why do IT companies choose ATP Konsult?

Vladimir Tsokov

Manager of Data Wise Ltd.

"ATP Konsulting Ltd. is a reliable and professional partner in the field of accounting and financial services. We, as clients of "ATP Konsulting" Ltd, are extremely satisfied with the quality and scope of their services. "ATP Konsulting" Ltd is distinguished by a high degree of professionalism, accuracy, speed and proactivity in the performance of its tasks. The firm offers a full range of accounting services, including ongoing accounting, financial statement preparation, tax consulting and much more. Throughout our work together, they have repeatedly proven that they understand the specific needs of businesses and are ready to offer customized solutions to meet each company's requirements. The professionalism of the ATP Konsulting Ltd team gives us confidence that all financial matters are handled with attention to detail and in accordance with current legal requirements. Their experience in the industry as well as their personal approach to the client makes us feel safe and supported at all times. We would have no hesitation in recommending ATP Konsulting Ltd to individuals and companies for whom a long-term and reliable partnership is a priority."

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