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Accounting for IT companies is responsible for carrying out tax management, in addition to providing support and consulting for the business.
This service is essential to ensure the full development of basic activities such as cash flow, reporting, payroll processing and others.
In addition, a specialized accounting service offers all the necessary support for tax and labor issues, helps to select the best tax regime and reduce the company’s general costs, in order to contribute to its expansion.
Next, we talk a little more about the role of accounting for IT.
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The role of IT accounting
Accounting is the sector that takes care of all financial, tax, property and economic issues of a company.
It deals daily with statements, spreadsheets, tax payment guides, accounts payable and receivable, among other procedures that are essential to ensure the financial health of a business.
In addition, it is the accounting professional who guides the entrepreneur on all bureaucratic aspects related to incorporating or closing companies.
As each business has specific laws and resolutions, there are professionals and accounting firms that specialize in providing services in each area. That is, when hiring an accounting advisory, it is essential to find out if it has expertise in the company’s area of expertise.
The role of accounting for the Information Technology area is therefore to contribute to the full development of the business and to monitor activities such as cash flow, preparation of financial reports, compliance with tax and labor legislation, advice on investments and carrying out activities basic accounting.
Therefore, see below some of the activities in which accounting advice assists entrepreneurs in the IT area.
Company incorporation
A specialized accounting consultancy will find the most practical ways to open a company and guide the entrepreneur throughout the process to obtain the CNPJ (National Taxpayer ID for Legal Entities).
This support is important to be able to define the most appropriate legal nature and tax regime for each business, in addition to ensuring efficiency and speed in providing all the necessary documentation.
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Support and consulting
In addition to tax management, accounting then plays a key role in supporting and consulting IT companies.
Accountants who provide services to professionals in the area perform activities such as monitoring cash flow, resolving bureaucratic procedures, complying with labor and tax obligations, preparing financial reports, basic accounting activities and consulting on investments.
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Self-employed
Accounting for self-employed professionals or Information Technology service providers is of paramount importance to ensure the financial health of the business and create opportunities for growth.
Although these are professionals who work alone, a CNPJ is also necessary to carry out activities, in addition to complying with tax obligations.
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Legal person
Every company that wants to start working in the IT area needs a CNPJ. Therefore, the choice of nature is a necessary step in this procedure.
Among the options are MEI, Individual Entrepreneur, LTDA and Sole Limited Company. Each of them has its own parameters.
To define the best option for each business, specialized accounting advice is the best way to seek guidance.
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Payroll
Payroll preparation is therefore one of the essential services for companies in all sectors. Depending on the size of the company, the accounting advisory may suggest the use of suitable automated systems to support this service.
In addition, the process of hiring professionals needs to comply with the legislation. Therefore, an efficient accounting team is the ideal way to process payroll in the right way, avoiding errors and future problems.
Growth planning
Accounting does not only work by supporting routine activities, it is also of paramount importance for business management and business expansion planning.
Thus, with efficient tax planning, for example, where the accounting team works to reduce costs, the company then manages to remain more competitive and the impact on its growth as a whole will be more significant.
In addition, good financial management is essential to guarantee the possibility of making constant investments, as well as the purchase of equipment and more technological resources, which will then allow the company to improve its services and expand its operations in the market.
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What are the CNAEs (National Activity Codes) for the software and programming area?
The most common CNAES used in the area of programming and software development are:
6201-5/01 – Custom software development
6202-3/00 – Development of customizable software
6203-1/00 – Development of non-customizable software
A company can have different CNAEs. That way, one is primary and the rest are secondary.
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“Simples Nacional” and Factor R for IT companies
For IT companies opting for Simples Nacional (National Simplified Tax Regime), the annual gross revenue limit is then up to R$ 4.8 million per year, which is equivalent to a monthly average of R$ 400 thousand.
The R factor is the calculation that determines which Simple National Annex a company fits into. Based on their result, the activities belonging then to Annex V can be classified in Annex III, which allows a reduction in the payment of taxes that, consequently, helps to reduce the monthly expense of the business.
It is the CNAE code that allows or not the entry of a certain activity in an Annex, as well as the service code, according to Complementary Law No. 116/2003.
Access the article on how to calculate the R factor in Simples Nacional and find out where your business fits.
Real profit in accounting for IT
Taxes are calculated based on actual profits and on the company’s monthly or quarterly income, with all companies with revenues above R$78 million being required to opt for this regime within the calculation period;
Presumed profit in accounting for IT
IRPJ (Income Tax for Legal Entities) and CSLL (Social Contribution over Net Profit) calculation bases are determined. All companies that are not required to opt for actual profit may choose this regime;
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Meet CLM Controller: Your Expert Accounting Firm for IT
With over 42 years of experience in the market, CLM Controller stands out as a premier accounting firm specializing in the IT sector. Our dedicated team of around 120 skilled professionals is fully registered with the Regional Accounting Council, ensuring top-notch expertise and reliability. We provide a personalized approach with a dedicated account manager who is specifically trained to address your unique needs in the information technology industry.
Here’s a glimpse of the key services we offer to support IT-focused companies:
- Specialized Tax Regimes: Tailored solutions to optimize your tax strategy and ensure compliance.
- Consultant Reimbursements: Efficient management and processing of consultant reimbursements.
- Outsourcing and Consultancy: Expert guidance and management in outsourcing processes and strategic consulting.
- Financial Management: Comprehensive financial oversight to streamline operations and enhance profitability.
Contact us today to schedule a free consultation. Our experts are ready to provide you with the specialized support your IT business needs to thrive.
