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      Why accounting and financial insights make a difference to your business?

      As an entrepreneur, you are increasingly confronted by a rapidly evolving, complex tax and legal environment when taking day-to-day management decisions.

      Reliable financial information is paramount to sound business management and regulatory compliance. Your financial information should be easily retrievable and meaningful to you, as well as to your stakeholders. Only this way will you be able to make good business decisions and comply with your regulatory requirements.

      Do you need advice to gain a better insight into your financial data? Or, do you wish for assistance with preparing your financial statements or tax returns? Are you confident about the adequacy of your administrative practices and accounting systems? Do you need an experienced, independent and trusted advisor?

      Our accountants can assist you with a wide range of personalized services in the fields of Accountancy, Financial Resource Management, Tax Compliance, SME-Advisory and Compliance Administration.

      Our extensive and diverse experience allows us to provide you with services specifically tailored to your situation, regardless of whether you are a small- or medium-sized business, non-profit organization, public institution or a private individual. Being part of the KPMG network, we are also able to call upon the experience of our lawyers, tax advisors and business consultants to provide you with the best possible service.  

      Thomas Zwaenepoel
      Thomas Zwaenepoel

      Partner, Corporate Tax | Tax, Legal & Accountancy

      KPMG in Belgium

      Accountancy

      What’s in your financial statements?

      Financial statements and meaningful analyses of the results are key to business intelligence. Also, numerous interest groups/stakeholders expect the annual accounts to provide pertinent, clear and reliable data with regard to the corporate environment. Our accountants can assist you with a variety of services, including:

      Financial Statements

      We can help you prepare and submit your annual financial statements and statutory reports. We’ll take care that all relevant regulatory requirements are observed. 

      Comparative Analyses

      We can assist you with comparative analyses and dashboards in your financial statements and reports to facilitate an easy and quick understanding of the financial position of your business. We provide clear explanations of the results and our findings, and make recommendations on key success factors.

      Conversion to international reporting standards

      We can help you prepare the periodic reporting to the parent company through the conversion of the local figures to international reporting standards, such as IFRS and U.S.GAAP, using our customized reporting templates and your specific software packages.

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      Financial Resource Management

      How effective is your Financial Management?

      Financial management covers not only the administrative practices and accounting systems of a business, but also the aspects of financial and operational performance and related information flows. It is a complex task that involves a broad range of activities and functions, and is key to business decisions. To effectively manage your financial department, our accountants can assist you in the execution of finance transformation projects that require extensive knowledge and experience in all areas of financial and accounting management. We can support you for a short or long period, depending on your needs and/or take over the activities of your finance organization after mutual careful assessment. Our variety of services include:

      We can help you draw up or review your business plan, including a financial plan. We can also appraise the value of your business, companies and assets. By way of quick scans, we can offer insights into your financial and tax positions and provide you with practical advice that helps you to make the right decisions. In the case of business transfers or sales, we can guide you through the entire process and provide specialized business economics, legal and tax support. We can also advise on the transfer of your business to the next generation, the planning for real estate and international succession.

      We can help you develop a structured approach to management information and implement a standard and periodic management reporting system for performance indicators, considering both financial and non-financial performance. We can also analyze your business to better understand its performance, including Working Capital Management and Workflow Optimization, Profitability Analyses and Comparative Benchmarking Analyses.

      We can make highly-qualified and dedicated professionals available for a short or longer period to fill a temporary shortage of your own staff. A few examples of employee profiles that we use for specific assignments are:

      • Controller - Budget Analyst
      • General Ledger Accountant
      • AR – AP Accountant
      • Financial Analyst
      • Administrative Assistant
      • Reporting Responsible
      • New-software-packages-implementation assistant

      We can assist you with setting up your administrative organization and establishing efficient, automated and centralized practices. We can also advise you on internal control systems to prevent and detect relevant inaccuracies in time and to minimize internal audit risks.

      We can provide comprehensive training and guidance to the employees of financial and accounting departments and offer advice regarding the development of a strong, professional accounting organization.

      Tax Compliance

      Is compliance with your tax obligations challenging?

      Body text: Compliance with tax filing and reporting obligations is not an easy task. Professional support in preparing your tax returns not only saves time for you, but also facilitates full and timely compliance with your obligations. Whether you are a small, medium or large taxpayer or an individual, our accountants are readily available to help you comply with your tax obligations, with a variety of services concerning, especially:

      Tax returns and reporting

      We can complete your income tax return and prepare files that justify the payment of fees and commissions. We can also take charge of your VAT returns, periodic intra-Community recapitulative statements and the annual sales listing. We also ensure a timely submission of your returns and related statements.

      Internal Tax Control

      For all taxes, we can map your administrative systems, perform targeted scans and assess the extent to which tax options are already being used and/or whether any compliance risks are involved. Based on this assessment we can advise you on potential improvements and reduce the risk of non-compliance with your tax obligations.

      Deferred tax assets/liabilities

      We can calculate the deferred tax assets/liabilities and report the variations in tax systems between the Belgian figures and the applied international reporting standards.

      SME Advisory

      Why choose specialized SME-Advisory?

      As a small- and medium sized enterprise (SME) you are special. You have a personal connection with your social and business community, and you deeply care about your business and your employees. While you often have similar compliance burdens as large businesses, you have less leverage to comply with the increasing administrative requirements and to respond to challenging business situations. Efficiency gains and business insights can therefore make a difference for you.

      At KPMG, we have a long history of advising micro, small and medium sized businesses and have built up extensive experience in all facets of their operations. Our accountants are proud to be the trusted advisors of SMEs and family owned businesses at all times. You can always take advantage of our services:

      • When your business is prosperous and you plan to expand, we can assist you in all types of acquisitions and lead you though the entire process, including integration into your running business. We can also advise you on practical aspects of business structuring, including financing, and perform valuations and assessments.
      • When you want to increase the efficiency of your business or reorganize your operations, we can assist you with all types of reorganizations (including demergers, mergers, sales of business) as well as prepare financial plans and negotiate with banks. When your business is facing challenging times, our expert advice can help you to find the way forward.
      • When you consider professional insights or an independent opinion useful on any administrative, financial or business matter, we can think along with you and assist you and your stakeholders as appropriate. For example, we can provide you with investment and financial analyses, expertise reports or assistance to (minority) shareholders.
      cut out office spelling SME

      Compliance Administration

      Do you have the advantage of good bookkeeping?

      Your books and records must be accurate and reliable. They need to facilitate a quick generation of relevant accounting and financial information. To ensure this, a systematic and structured approach is necessary in managing your accounts and administration. Our accountants can assist you on a permanent or temporary basis with a wide range of services, including:

      Bookkeeping

      We can help you manage and organize all your general and cost accounting as well as verifying your bookkeeping in a swift, cost-efficient and easy manner. We can also manage the tasks associated with closing your periodic and annual accounts, as well as oversee the organization, implementation and monitoring of your internal control procedures.

      Digitized administration

      We understand that digitized business processes and administration are indispensable factors for efficient daily operations and to maintain a competitive edge. We focus on innovation and offer you several unique and tailor-made tools that reduce manual intervention to a minimum and provides you with efficiency gains in time and costs. We can ensure that your purchase and sale invoices, just like your banking transactions, and your entire administration are fully electronically processed. Through our secure online client web portal, you have unlimited 24/7 online access to our software packages which can enable you to:

      • scan and interpret invoices (OCR scanning) to facilitate automated posting of expenditures,
      • (automatically) upload your bank transactions for automated posting into the accounting system via CODA bank statements,
      • have instant access to all your accounting documents, including the electronic copies of incoming and outgoing invoices, as well as to financial information and your online permanent file,
      • maintain an electronic archive.

      Considering also the environment, our software packages allow entirely paperless work. 

      Enhancement of administration

      We can help you to enhance the administrative organization for all your associations and companies, as well as manage the internal controls within your corporate group structure. We can also assist you in setting up an analytical accounting system, training your staff from the accounting or finance departments in the preparation of your policies and the implementation of accounting software packages.

      Administration for branches

      We deal with the entire administration and reporting system for Belgian branches of foreign companies, in accordance with Belgian law. If you have a branch abroad, we can put you in contact with a KPMG expert in the relevant country who will deal with your entire dossier. 

      Advice to start up a business

      If you want to start up a business, we can advise you on the advantages and disadvantages of the different business forms and legal structures. We guide you through the key steps in creating your business and share also our insights with you. Moreover, we assist you with all formalities associated with the creation of your business, including contact with a notary, review of statutes, registration with the tax authorities and fulfilment of other administrative requirements.

      Odoo

      In order for organizations to perform in an increasingly competitive environment, it is important to be flexible, fast, and efficient when seizing new opportunities, while also keeping the business running. Companies have no choice but to accept that business transformation is becoming a reoccurring topic for their growth strategy. Among all the aspects of this journey, the enterprise resource platform (ERP) selection, implementation, and evolution has an important impact on the company’s future performance.

      Customers are looking for a technology that can be easily deployed, with a limited total cost of ownership, while giving the possibility to extend and adapt its use to future and unknown needs. Those requirements create a need for a solution like Odoo.

      Odoo, the all-in-one platform to support your activity and accelerate your growth

      Odoo is a Belgian ERP, with more than 80 applications, covering various business needs: from CRM to accounting, inventory and production, but also website/eCommerce, a HR suite (including a payroll application) and many more. All applications are natively integrated which offers a simplified IT architecture for companies by limiting the need for heavy and complex integrations between different software.

      Designed to support companies’ operations at any stage of their existence, the system allows users to easily add the applications or functionalities that you may need at any time. As your business continues to grow, this enables consistency between what you have and what you’ll need.

      KPMG to enable, secure, and accelerate your Odoo-based business transformation journey

      A business transformation journey can’t be limited to only the implementation of an ERP. That’s something we have understood for a long time at KPMG, and we believe in our capacity to support our clients to succeed in these projects.

      We recognize when engaging in a business transformation journey, it is necessary to consider the complete organization. To understand the impact of such change and to support the company during the transition to a new way of operating. That’s why we believe in our capacity to help our client by combining our expertise and experience in such projects, our knowledge of the leading industry practices, and our Odoo expertise, through four main steps for business transformation projects:

      • We challenge and inspire

        Setting the foundations to ensure the clients’ path forward is well-informed, risk-managed, and aligned with the company’s goals.

      • We design and validate

        Defining what will be done, what the client will get, the budget and timeline to position the business transformation project in the company’s priorities.

      • We implement and activate

        Launching of the Odoo implementation and supporting the organization during this period of transition to secure project success.

      • We support and engage

        Improving and extending the use of the system is necessary to ensure adequacy between the technology and the business challenges and opportunities the company will keep facing in the future.

      Are you considering a business transformation project in your organization, or just curious and want to learn more about this alliance? Do not hesitate to reach out to our team of experts to see how we can help you.

      Odoo

      Odoo-based business transformation for corporates

      Download our brochure for more information on how we can transform your organization. 

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