Technology (SaaS) & Start-ups

KR Group is a renowned partner in the development of entities in the SaaS industry

KR Group offer for start-ups and the SaaS industry

• Accounting outsourcing for start-ups and the SaaS industry

  • Comprehensive accounting services for technology companies, recording of subscription revenues, recurring fees and receipts from domestic and foreign partners.
  • Integration of data from ERP, CRM and SaaS platforms.
  • Automatic recording of invoices, payments and returns.
  • Preparation of operating and investment costs.
  • Documentation of investor funds and grants.
  • Preparation of accounting period closings and reports for management and investors: balance sheet, profit and loss account, cash-flow.

  See more: Accounting outsourcing.

• Tax advisory, tax reporting for start-ups and the SaaS industry

  • Preparation of tax declarations for all subscription models and SaaS sales.
  • Verification of the correctness of settlements.
  • Support in the classification of technological services.
  • Advisory on promotions, returns, subscription cancellations and plan modifications.
  • Preparation of transfer pricing documentation for related entities.
  • Creation of tax procedures for SaaS start-ups and technology companies.
  • VAT registration and settlement, VAT advisory, support in obtaining a VAT refund.
  • Preparation of tax procedures.
  • Support in selecting tax reliefs tailored to the industry.

  See more: Tax advisory, VAT advisory and Tax compliance.

• HR and payroll, HR outsourcing for start-ups and the SaaS industry

  • Payroll calculation, payroll lists, ZUS, PIT and PFRON settlements for technology teams.
  • Record of working time, settlement of overtime, bonuses and performance pay.
  • Management of project-based and temporary workers.
  • Preparation of reports for investors, including employment cost analysis.
  • Settlement of employee holidays, sick leave and benefits.

  See more: HR and payroll outsourcing.

• Legal advisory for companies, start-ups and the SaaS industry

  • Preparation and verification of B2B and B2C contracts, licences, service regulations and terms of use of digital platforms.
  • Conducting GDPR audits, preparation of privacy policies and data processing agreements.
  • Preparation of documentation for investors.
  • Analysis of legal risks in subscription models.
  • Support in legal disputes.
  • Analysis of counterparties against sanctions lists.

  See more: Legal advisory.

• Expansion into new markets, business development:

  • Support when entering new markets, including company formation and VAT registration.
  • Analysis of local regulations, configuration of subscription sales systems and SaaS platforms.
  • Scaling of teams and organisational structures.
  • Support during team reorganisation, project closures or changes to the business model.
  • Support in fulfilling environmental obligations.

  See more: Expansion into new markets.

FAQ

• What does accounting for the services industry and SaaS look like?

  Accounting for the services industry, including the technology sector, requires specialist knowledge and experience. IT companies operate in a dynamic environment where tax regulations change just as quickly as the technologies themselves. The complexity of regulations and the specific business models of companies in this industry make professional expert support indispensable. We encourage you to familiarise yourself with our tax advisory and accounting offer, tailored to the specifics of the business.

  Accounting for the services industry is characterised by the need for precise settlement of revenues from services rendered – often provided in a subscription, project-based or subscription model. Tax advisory for the technology industry in turn requires knowledge of such issues as the R&D relief, IP Box or Estonian CIT, which are of particular importance for companies creating software and implementing innovations. Accounting for the technology industry also covers the settlement of international transactions, withholding tax and transfer pricing – areas where errors can generate serious financial and legal consequences.

• Tax advisory and accounting for the technology industry – for whom?

  We direct our services to a wide range of entities from the technology sector – from dynamically growing start-ups, through medium-sized SaaS businesses, to large IT companies with international reach. Accounting for SaaS takes into account the specifics of revenue recognition in the subscription model and the complex cost structures associated with the development of digital products. Tax advisory for the technology industry also covers support for companies planning expansion into foreign markets, including into CEE region countries.

• What does accounting and tax advisory for the technology industry look like?

  At KR Group we offer comprehensive accounting and tax services tailored to the realities of the IT sector. The scope of our services covers, among other things:

  • maintaining accounting books in accordance with local GAAP, IFRS or US GAAP,
  • tax advisory for the technology industry in the area of innovation reliefs,
  • support in the settlement of transfer pricing and withholding tax,
  • financial, management and statistical reporting,
  • accounting for SaaS taking into account the specifics of the subscription model,
  • representation before tax authorities during tax audits.

• Why do SaaS companies need specialised accounting services?

  Accounting for SaaS involves many nuances – from the moment of revenue recognition, through the settlement of software development costs, to foreign currency transactions with international clients. Accounting for the services industry in this segment requires proficient knowledge of both domestic and international standards of accounting. It is therefore worth considering accounting outsourcing, which allows these processes to be entrusted to experienced specialists and enables focus on product development.

• How does KR Group support technology companies in the tax area?

  As a tax and accounting group with over 25 years of experience, we combine expert knowledge with a practical approach to business needs. Our tax advisory covers the identification of available reliefs – such as R&D and IP Box – as well as support in the area of transfer pricing, MDR reporting and preparation of tax strategy. Accounting for the technology industry carried out by our team always takes into account the individual needs of the client and the specifics of their business model.

  For many start-ups, limiting themselves to the local market alone is an unpromising development strategy, and international operations are at the core of a dynamically growing business.

• Does KR Group independently implement accounting solutions and systems, taking into account the individual needs of the client?

  Yes, KR Group carries out comprehensive implementations of the enova365 ERP system, tailoring the configuration to the specifics of the company. The process includes a pre-implementation audit, data migration, configuration of the chart of accounts and accounting schemes, as well as integrations with banking systems and VAT records. We have written more on this topic in articles on ERP implementation. Check the details of the enova365 implementation at KR Group.

• Does KR Group support entities expanding their operations into new markets?

  Yes, at KR Group we support companies in expansion into new markets, providing comprehensive support in the area of accounting, taxes and implementation of ERP systems such as enova365. Thanks to experience in serving international entities, KR Group helps adapt financial and accounting processes to local regulations, ensure data consistency and implement solutions supporting reporting and management across multiple jurisdictions.

• What distinguishes KR Group in the area of accounting system and ERP implementations?

  KR Group is distinguished by its own technology department, which has experience working with various ERP systems and financial and accounting tools. On a daily basis we work on the enova365 system, however we also have experience working on many other ERP solutions, such as SAP, Optima, Symfonia, Korab, Yardi, iScala, Eurofib, Octopus, Coda, Microsoft Dynamics, Oracle, SunSystem and Microsoft Navision. The technology team combines IT and accounting competencies, enabling us to tailor the system to real business processes and ensure its effective use in daily work.