Accounting that shows how the funds of each grant and project are used. UHY Prostir provides bookkeeping, HR administration and payroll services for civil society and charitable organizations, foundations and other non-profit organizations and NGOs.
We support organizations and project teams as they implement grant programs and international technical assistance projects.
We keep accounts at two levels:
- organization-wide — for all of the organization’s activities;
- project level — separately for each grant, donor, funding source and budget line.
We prepare the organization’s financial statements, tax returns and statistical reports, as well as accounting information for donor reports.
We provide full outsourced accounting or act as your chief accountant, while your own staff enter source documents and transactions into the accounting software. Separately, we provide payroll and HR administration services for the organization’s employees and project teams. We also provide outsourced CFO services.
How we can assist you
- Outsource the organization’s accounting fully or partially, including accounting for international technical assistance and other grant-funded projects.
- Outsource payroll, fees under civil-law contracts and personnel records.
- Engage an outsourced chief accountant.
- Engage an outsourced CFO.
- Get advice on accounting and tax matters, including grant accounting and keeping non-profit status.
Tell us about your situation, and we’ll propose an appropriate scope of accounting services.
Our services
Full outsourced accounting
We provide accounting services for the organization and its projects in line with Ukrainian law and Ukrainian national accounting standards (P(S)BO). Our services usually include:
- project accounting and accounting for international technical assistance, and preparing the accounting information needed for donor reports;
- preparing the Report on the Use of Income (Profits) of a Non-profit Organization required by the Ukrainian tax authorities;
- preparing payment orders in online banking in line with the payment procedure agreed with you;
- preparing required tax reports;
- preparing financial statements and statistical reports;
- preparing documents in response to requests from tax and other government authorities;
- payroll calculation and payments under civil-law contracts;
- HR administration.
Outsourced chief accountant services
We act as your organization’s chief accountant. Our services usually include:
- organizing and controlling the accounting of the organization and its projects, including the allocation of shared costs between projects;
- preparing required tax reports;
- preparing financial statements and statistical reports;
- preparing documents in response to requests from tax and other government authorities.
We agree on the processes you handle in-house when we sign the agreement.
Outsourced CFO services
We act as your organization’s CFO. Our services usually include:
- assistance in preparing the budget (cost estimate) and monitoring its implementation;
- preparing management reports.
On-demand services
In addition to our regular services, we provide the following at your request:
- accounting, tax and HR advice, including on the taxation of grants and foreign funding;
- written explanations and official responses to requests from government authorities;
- assistance during tax inspections and audits: preparing documents and explanations, analyzing the tax audit report and preparing objections to it;
- taking over the accounting records from your previous accountant and the initial accounting setup, including preparing the accounting policy;
- reconciling management and accounting records.
Service fees
We set our fees for accounting services on a case-by-case basis. We set out the scope of services, fees and timeline in our proposal and record them in the relevant agreement.
Our fees for full outsourced accounting are based on:
- a base monthly fee — a fixed monthly payment for services within the base volumes set in the agreement, for example, the number of documents, bank payments and the organization’s offices;
- a fee for payroll calculation and HR administration, which depends on the number of employees and contractors under civil-law contracts;
- an additional charge for exceeding the base volumes — the number of documents, payments or employees — calculated monthly or quarterly;
- a fee for preparing required reports — tax returns, financial statements and statistical reports, including the Report on the Use of Income (Profits) of a Non-profit Organization; VAT administration for VAT payers is charged separately;
- a one-time fee for the initial accounting setup;
- a one-time fee for the handover of accounting records;
- payment for on-demand services, including advice and assistance during inspections, based on the hours spent or a separate agreement.
Outsourced chief accountant services are charged by the hour.
Outsourced CFO services are also charged by the hour.
Fees may also include services not directly related to accounting, such as:
- a fee for hosting and storing your databases on our servers;
- reimbursement of license costs for accounting and other software;
- customizing accounting software to your organization’s needs.
Getting started
- Tell us what you need
Submit a request or contact us. Tell us what task you need to solve and from what date you need our services. If your donor has accounting or reporting requirements, please send them to us. - Provide information for a proposal
We’ll send you a questionnaire and, if needed, discuss the details in a call: your organization’s activities, funding sources, number of projects and donors, accounting software, number of documents and employees, and how accounting areas will be divided between our team and your specialists. This helps us define the service format and fees. - Review our proposal
You’ll receive a list of services, base volumes, fees and a start date. We’ll discuss your questions and agree on the terms. - We sign the agreement
We send you a draft accounting services agreement with the agreed terms, in Ukrainian and English if needed. You review it and return it with comments or confirmation of your approval. We agree on the final version, sign the agreement and move on to planning our cooperation.
Our process
After the agreement is signed, we provide our services in the following stages:
- Introducing the teams and planning our cooperation
Our team gets to know your team. We plan the handover of accounting records. - Handover of accounting records
We receive documents, accounting databases, reports and the necessary access. We reconcile the balances handed over against the documents and accounting data (without carrying out an inventory count) and check the status of period-end closing, and clarify the state of accounting and reporting for each active project. We review project documents, including those of international technical assistance projects, the status of their participants and donors’ accounting and reporting requirements. We record unfinished tasks and matters to clarify with the previous accounting team. - Initial accounting setup
If your organization is newly established, we set up accounting from scratch: we fill in master data in the accounting software and set up the document workflow in line with the agreement. For each project, we set up analytical accounts by donor and budget line and apply the methodology for allocating shared costs between projects agreed when we signed the agreement. - Setting up collaboration between the teams
On our side, we appoint responsible persons and define which processes each of them is responsible for. You also appoint responsible persons on your side and tell us which processes they are responsible for. We set up communication channels, the document transfer procedure and the reporting calendar in line with the agreement. - Maintaining the accounts
We exchange documents and information with your team: we process documents and check their link to the expenses of the relevant project, get clarifications and answer questions. We prepare information for calculating and paying salaries, payment documents and other agreed calculations. - Period-end closing
We close the month, quarter and year, organize source documents for archiving and answer your questions about the results. - Preparing and filing reports
We prepare and file tax returns, financial statements and statistical reports by the required deadlines, including the Report on the Use of Income (Profits) of a Non-profit Organization. We provide the accounting information needed to prepare donor reports. If needed, we prepare additional reports and explanations on matters agreed with you.
If our cooperation ends, we hand over the accounting records to the specialist or team you designate on an agreed schedule and explain unfinished tasks and open issues.
What you can expect
Depending on the agreed services, you’ll receive:
- Access to the accounting software where the organization’s business transactions are recorded, with analytics by project, donor and budget line.
- Accounting registers: journal orders, trial balances and summary statements, including by project and donor.
- Filed required reports: tax returns, financial statements and statistical reports, including the Report on the Use of Income (Profits) of a Non-profit Organization, with receipts confirming their acceptance.
- Accounting information for preparing donor reports: data on the receipt and use of funds by project and budget line.
- A calculation of the allocation of shared costs between projects using the agreed methodology.
- Payment orders and reconciliation statements with counterparties.
- Payroll and contractor payment calculations and HR documents: payroll statements, payslips for employees, HR orders and timesheets.
- Organized source documents, processed and prepared for archiving.
- An agreed division of processes and responsibilities between your team and ours.
- Responses and explanations to requests from tax and other government authorities.
- A budget (cost estimate), reports on its implementation and management reports — if you use our outsourced CFO services.
- Answers to your questions and advice on accounting, tax and HR matters when you request it.
- An accounting policy — if you order the initial accounting setup.
- Information and documents prepared at the request of auditors or inspectors during an audit or tax inspection.
Why clients choose UHY Prostir
We combine our experience in Ukraine with the international experience of the UHY International network to serve Ukrainian and international clients.
- Independence, integrity and objective professional judgment.
- In business since 2003.
- A member of UHY International, a global network of specialists in audit, tax and consulting: 340 offices in 95 countries and over 10,000 professionals.
- Doing business abroad: if you already have a business in another country or plan to open and grow one, we can assist by connecting you with our UHY International office in that country, where you can discuss registration, accounting, tax and audit matters.
- Remote collaboration where the nature of the engagement allows.
- Communication and document preparation in Ukrainian and English.
