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Accounting in Argentina - Dedicated Services for Companies

Accounting Services in Argentina

Updated on Sunday 31st July 2022

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Accounting in Argentina

Company owners who want to expand their business in Argentina must comply with the legislation regarding company accounting. In this sense, you can call on our team of accounting specialists and ensure the smooth running of business in this regard. Bookkeeping, payroll, declaration of annual financial statements are among the accounting services our accounting firm in Argentina can offer.
 

Accounting legislation in Argentina

 
The Argentine Federation of Professional Council in Economic Sciences is the institution that developed accounting standards in this country. Added to this are the rules imposed by the Central Bank of Argentina as well as by the National Insurance Superintendency, which can supervise the accounting of companies registered in Argentina. As for the accounting legislation, the following apply in Argentina, mentioning that our accountants in Argentina can explain for you:
 
  • Argentine Accounting Law.
  • International Financial Reporting Standards or IFRS.
 
Companies are required to have a balance sheet with profits and losses, as well as all financial documents. You can learn more about this from one of our accountants in Argentina.
 

Bookkeeping in Argentina

 
Financial transactions must be registered in a company and organized by days, months, years. Bookkeeping is a process that can be used to properly control this type of transactions in the company and is an essential part of accounting. Therefore, an accounting firm in Argentina can manage such important task. Here are some interesting facts about bookkeeping in Argentina:
 
  • Single-entry bookkeeping records each financial transaction separately in the cash book.
  • Incoming revenues and outgoing expenses are properly tracked with the single-entry bookkeeping. Our accountants in Argentina can provide complete information on this topic.
  • Double-entry bookkeeping is recommended for large companies and does not present errors. Transactions are recorded twice by offsetting accounts.
  • Trial balance, journals and ledgers are documents necessary for recording financial transactions in a company.
  • An accounting firm in Argentina has access to the company's accounts and can check daily financial transactions in the company.
 
If you want the services of an accountant in Argentina, please contact our specialists.
 

Publication requirements as part of accounting in Argentina

 
Companies are obliged, from an accounting point of view, to prepare annual financial statements and report them to the National Securities Commission and the Buenos Aires Stock Exchange.
 
Also, annual financial statements can be submitted to the Corporate Inspection Department in Argentina, but this obligation comes under the attention of private companies in Argentina. Our accountants in Argentina can offer you support in this endeavor.
 

Payroll in Argentina

 
Payroll is another important sector in accounting. There are special programs for managing a company's personnel, starting with hiring and ending with their payment, according to managerial provisions. We recall here the payroll implications in Argentina, with the mention that our accountants in Argentina can provide support.
 
  • Preparation of payslips for the payment of salaries in the company.
  • Payment of taxes due to employees. Companies are also tax payers for employees' salaries.
  • Staff administration involving drafting work contracts, medical or maternity leave, recruitment in the company.
 
Below are some essential facts about Argentina, if you want to open a business in this country:
 
  • Around USD 490 billion was the GDP in Argentina in 2021, ranking the country 1st in Latin America, as an economic force.
  • Argentina's economy was 5% larger in 2021, according to data for 2021.
 
 
If you want a business in Argentina, you can contact our accounting firm in Argentina for personalized services. Get in touch with us today!