According to the Russian legislation
, all companies
incorporated here must register their daily accounting activitie
s, by using specific documents and procedures specified under the Russian law
. The fiscal and commercial law
to submit their accounting documents
once in a financial year, which corresponds to the calendar year. If you want to open a company in Russia
, our company formation agents
can present to you the legal requirements for accountancy procedures
Basic accounting documents in Russia
The accountancy department of a company will always request for the original version of a document, which requires a signature and blue round stamp; documents sent through e-mail or fax are not taken into consideration as official acts.
According to the accounting legislation, the invoice – called “Schyot”, which is issued for the payment of a certain service or product, is not registered in the accountancy documents; the reason is that this type of invoice is seen in Russia as an invitation of payment.
The “Schyot Faktura
” is an official document
, stating the value added tax
that has to be deducted from the total value of the invoice. The document, alongside with the certificate for services
provided or delivered products, is registered in the business accounting. Our company formation agents
can provide you with more information on the basic accounting documents
Personnel accounting in Russia
Accountants hired after you set up your business activities in Russia
will spend a large proportion of time registering documents
related to the financial situation
of your personnel
. This is determined by the fact that, under the Russian employment law
, all companies
must pay their employees
twice a month. When taking a holiday, the salary received by the employee
in that time will be calculated according to the average income received in the last twelve months.
The accounting department must register, for each employee, a table showing days in which the employee was on duty, the days of absence and illness; our company formation specialists can provide you with further details on this subject.