Monthly accounting for your company’s operations, including document checks, transaction records, tax reporting and coordination with payroll specialists.
A client was unsure whether the accounting arrangements for their Bulgarian business covered all the necessary work. ARG reviewed the records, aligned the checklist with Bulgarian requirements and coordinated the accounting and filing tasks. Bringing the instructions into one place made the process easier for the client to follow.
An accounting engagement needs to reflect the way the company trades. Customer and supplier locations, invoice flows, bank movements, staff and director arrangements affect the information needed each month. Management also needs a process for raising unusual transactions before they are posted. Agreeing document deadlines, responsibilities and approval authority helps the accountant prepare filings from complete information and identify matters requiring separate tax or employment advice.
ARG can help when you need to
Provide company and ownership records, activity details, prior accounts and the accounting standards already used.
Keep invoices, contracts, delivery evidence, bank and payment-platform records linked to each transaction and reporting period.
Identify registration grounds, foreign services, staff and director arrangements before the first affected transaction or payroll.
Agree document deadlines, authorised filers and approvals, with separate monthly, annual tax and accounts-publication duties.
Bulgarian accounting turns the company’s transactions into a chronological, document-supported record of income, costs, assets and obligations. Under Accountancy Act Articles 3–6, a primary accounting document records the economic transaction; a bank payment alone does not necessarily explain what was supplied or why it belongs to the business. Keep invoices, contracts, delivery or acceptance evidence and payment records connected. The annual corporate-tax return is then prepared from the closed records and tax adjustments. Its ordinary filing window is 1 March–30 June of the following year, separately from financial-statement publication. Accountancy Act, Articles 3–6; NRA annual filing instructions.
Before preparing the return, reconcile the records, review receivables and liabilities, consider accruals and assess the tax treatment of material income, expenses and adjustments. Management should disclose related-party arrangements, shareholder funding, asset use, bonuses, provisions and year-end contracts that routine invoices or bank records may not explain.
Confirm the applicable filing route for inactivity, liquidation or other special circumstances and use the NRA forms for the relevant year. Assess statutory audit separately against the company’s legal category and applicable criteria.
At onboarding, establish the company’s category, accounting basis and reporting responsibilities. National Accounting Standards are the general basis under Article 34, with international standards mandatory for specified entities or available by election where permitted. Foreign ownership does not settle the choice. Agree who prepares the accounts, who approves unusual transactions and who provides the contracts and estimates needed at year end.
The Value Added Tax Act (Закон за данък върху добавената стойност, ЗДДС) governs Bulgarian VAT registration, VAT records and periodic returns. For a Bulgarian-established taxable person, Arts. 96, 124 and 125 make VAT a continuing operational issue: turnover must be monitored, source documents must support the treatment applied, and registered businesses must maintain the required purchase and sales records.
According to the NRA’s current VAT-registration guidance, from 1 January 2026 compulsory registration arises when annual domestic turnover exceeds EUR 51, 130. The application is due within seven days after the threshold is exceeded. The registration date is the day after the threshold is exceeded. A VAT-registered person must generally submit the monthly VAT return and reporting registers by the 14th of the following month, including for nil periods; VIES reporting is also required where the statutory intra-EU conditions are met.
VAT treatment depends on the goods or services, customer status and location, supplier establishment, performance evidence and any activity outside Bulgaria. Check place of supply, exemptions, input-tax recovery and cross-border registration questions against the transactions; the turnover threshold does not answer them.
Monitor turnover during the year to identify the seven-day application window. Review proposed invoices, customer terms and cross-border arrangements before applying the VAT treatment.
An invoice should identify the relevant parties, date and economic transaction, with the required description and measurement. Accountancy Act Article 6 permits missing information in a primary document to be supported by other documents in the circumstances it specifies; it does not make unsupported expenditure automatically deductible. Where an invoice is incomplete, obtain the correct supporting document or proper supplier correction and preserve the connection to the original transaction. Accountancy Act, Article 6.
For cross-border services, document what was actually delivered, who received it and when. An agreement and payment may establish part of the commercial history while leaving the nature or recipient of the service unclear. Retain work products, acceptance records and relevant correspondence, then assess VAT and corporate-tax treatment against that evidence. This is especially useful for related-party charges and management services.
For foreign customers or suppliers, keep contracts, orders, invoices, acceptance records, correspondence and bank evidence together in a retrievable file. Review accounting treatment when the commercial arrangement changes.
Tell us where you live, how your business works and what you want to change. We will help you identify the questions to resolve and the next steps to consider.
Agree a monthly handover date before filing deadlines and identify every source of business records: invoicing software, bank and payment accounts, cash sales, marketplace settlements, payroll inputs and asset purchases. Transfer original documents and usable ledger exports, not just screenshots of balances. Flag shareholder payments, refunds and foreign services explicitly so the accountant can classify them before the return is final. A list of unresolved items should state the missing evidence and who must provide it.
Use a monthly cycle with assigned responsibilities:
Raise proposed changes with the adviser before implementation: a new EU customer, a different invoicing entity, an employee or a shareholder loan may require tax or corporate review.
Classify remuneration before the first payment. The treatment may differ for an employee, a director under a management arrangement, a self-insured owner or someone engaged under another contract.
The NRA states that employer and insurer reporting through Declarations Forms 1 and 6 is generally due by the 25th of the following month, subject to particular payment and correction scenarios. Confirm the timetable against the remuneration cycle and insurance position.
Before the first payroll run, the accounting file should contain:
For a foreign director or shareholder, review the contractual role, location and manner of work, remuneration and insurance status together. Immigration, cross-border employment or personal tax-residence questions may need targeted advice.
ARG coordinates the accounting work around the company’s actual obligations: regular bookkeeping, VAT where registered, payroll where applicable, annual tax reporting and financial-statement publication. The annual engagement should distinguish preparation, corporate adoption and submission. For active traders, ordinary accounts publication under Article 38(1) is due by 30 September; the first-period inactivity declaration, where all statutory conditions are met, follows a separate 30 June deadline. Management retains its Article 16 responsibilities, while the preparer must meet Articles 17–18. Accountancy Act, Articles 16–18 and 38.
Provide company registration and ownership details, prior filings, VAT information, sample customer and supplier contracts, invoicing and banking processes, expected turnover, currencies, staff and director arrangements, and customer and supplier jurisdictions. Identify who supplies documents, approves unusual transactions and instructs or submits filings.
For companies in Sofia, Varna, Burgas or elsewhere in Bulgaria, start with current documents and expected activity over the next three to twelve months. ARG can then define the reporting calendar and document process, and identify any further tax, employment, immigration or corporate work.
Compare the related procedures in this category, including their requirements and the stage at which you need them.
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