Accounting of an individual entrepreneur

Who is the service suitable for?

• Individual entrepreneurs of group 2 who conduct retail trade, provide services or work with individuals.
• Individual entrepreneurs of group 3, cooperating with Ukrainian and foreign legal entities.
• Entrepreneurs who want to be sure of the correctness of their tax calculations.
• Sole proprietors who do not have the time or desire to keep records on their own.
• Entrepreneurs expanding their activities and need to control financial indicators.
• Especially recommended for those who work with bank accounts, online checkouts, large volume payments, or VAT.

Maintaining a sole proprietorship group 2

Individual entrepreneur group 2 is the optimal taxation model for retail trade, household, and other services. The single tax rate for this group is fixed and set by local governments, usually within 20% of the minimum wage. For this group, it is important to monitor the amount of income and properly maintain income records, because exceeding the established limit leads to increased taxation and a change in the group.

Basic parameters of the individual entrepreneur group 2

Indicator	Description
Taxation system	Single tax
Tax rate	Up to 20% of the minimum wage per month
Income limit	Up to 7.8 million UAH per year
Who is suitable for?	Services to the population, trade, freelance, and small B2B cooperation
Reporting	Annual declaration + monthly payments of SSC and EP
Documents	Proof of income, bank statements, birth certificate (if necessary)

What is included in the management of a group 2 individual entrepreneur

• Annual income limit control.
• Consultations on the correct forms of calculations.
• Verification and storage of documents confirming income.
• Formation and submission of an annual declaration.
• Calculation and control of payment of the Unified Social Security Tax and the Single Tax.
• Keeping an income accounting book or accounting in an electronic service.

Maintaining a sole proprietorship, group 3

FOP group 3 is suitable for businesses with higher turnover, especially if the activity is aimed at cooperation with legal entities. This model allows you to work both with and without VAT. The choice of format depends on which counterparties you work with and whether they need to receive a tax credit.

Characteristics of individual entrepreneurs group 3

Indicator	Without VAT	With VAT
Tax rate	5% of income	3% of income + VAT
Reporting	Quarterly declaration	Quarterly declaration + monthly VAT reporting
Documents	Primary documents for transactions	Mandatory registration and storage of tax invoices

What does accounting support for the individual entrepreneurs group 3 include?

• Control of settlements with customers and suppliers.
• Accounting for banking transactions and payments.
• Formation of single tax declarations.
• If necessary, preparation of VAT declarations and registration of tax invoices.
• Consultations on contracts, initial documents, and certificates of completed work.

Advantages of outsourcing accounting for sole proprietorships

Outsourcing accounting support allows an entrepreneur to systematize financial processes and avoid errors that can affect the stability of the business. An experienced accountant takes into account the requirements of the law, generates reports in a timely manner, and controls the payment of mandatory payments. This reduces the risks of fines, tax claims, and discrepancies in financial documents.

Main benefits

• Saving time and resources. The entrepreneur does not waste time independently studying legislation, updates, preparing sound reporting, and checking.
• Guarantee of the correctness and timeliness of reports. The accountant monitors the tax calendar, prepares declarations, and records income and expenses in accordance with current requirements.
• Reducing the risks of financial sanctions. Correct execution of primary documents, control of banking transactions, and avoidance of exceeding income limits.
• Tax planning. Analysis of the taxation model, recommendations on optimal cooperation schemes, and consultations on the transition between groups.
• Support during inspections. Interaction with the tax office, preparation of documents, support during clarifications and inquiries.
• Flexibility and scalability. The service format adapts to the volume of activity, number of payments, and specifics of the business.

What tasks does an accountant solve for an individual entrepreneur?

1. Keeping records of income and expenses. Controlling receipts to the bank account, reflecting transactions in financial registers, correct execution of acts, invoices, and contracts.
2. Formation and submission of declarations. Preparation of annual or quarterly reporting, depending on the individual entrepreneur group and the format of VAT work.
3. Tax calculation and control. Calculation of the single tax, single tax or VAT, control of payment deadlines, and preparation of payment orders.
4. Interaction with the bank and government agencies. Checking bank statements, receipts, and confirmation of payments, responding to tax inquiries.
5. Primary documentation. Checking the correctness of the execution of acts of work performed, delivery notes, invoices, contracts, storage, and systematization of documents.

Cost of accountant services for sole proprietors

The price of support depends on the tax group, the specifics of the activity, the number of transactions, the format of work with VAT, and the need for additional consultations.

Approximate tariff ranges

Category	Monthly cost (approximate)
Individual entrepreneur group 2	from 3500 UAH
Individual entrepreneur group 3 without VAT	from 3500 UAH
Individual entrepreneur group 3 with VAT	from 3500 UAH

In the case of a large number of bank payments, specific transactions or cash payments, the cost may be adjusted. Before concluding the contract, a short consultation is held to determine the optimal package of services.

What affects the cost?

• Presence/absence of VAT.
• Volume of transactions per month.
• Field of activity (services, trade, IT, production).
• Using a cash register or PPO.
• The need for interaction with foreign counterparties.
• Primary storage format (electronic/paper).

How to order a service from Professional Solutions

1. Call or leave a request on the website.
2. We conduct a brief consultation and determine the specifics of the activity.
3. We select the optimal service format.
4. We sign the contract and organize the transfer of access and primary documents.
5. We start accounting and support from the first day of cooperation.

Additional services for sole proprietors

In addition to standard accounting for sole proprietorships, we provide assistance with organizational and related issues that allow the entrepreneur to work legally, risk-free, and efficiently.

Additional features

• Consultation on choosing a taxation group. We analyze the business model and offer the most profitable option.
• Transition between individual entrepreneur groups. Preparation of applications, control of deadlines, and support of tax changes.
• Registration of a VAT payer. Forming an application, organizing VAT accounting policy.
• Opening and setting up bank accounts. Recommendations for choosing a bank, setting up online banking.
• Preparation of documents for inspections. Systematization of primary data, provision of explanations to tax authorities.
• Accounting automation. Connecting accounting services, setting up document and payment templates.
• Generating financial reports for internal analysis. Helps control turnover, margins, and expenses.

Why choose Professional Solutions

• Experience in accounting support for entrepreneurs from various industries: IT, marketing, creative professions, trade, services, and logistics.
• Personal accountant: you are assigned a specialist who knows the specifics of your business.
• Transparent rates and clear scope of services. No hidden fees.
• Responsiveness and support: quick responses during working hours, consultations on non-standard situations.
• Guarantee of confidentiality and data protection. All processes comply with legal and professional ethics requirements.

Cooperation formats

Format	Description	Who is suitable for?
Monthly support	Full accounting, reports, and payment control	Permanent sole proprietor with regular operations
One-time consultations	Answers to tax questions, situation analysis	For those who keep records themselves
Audit of accounting of individual entrepreneurs	Checking the correctness of accounting and reports	For entrepreneurs who have changed accountants or have doubts
Inspection support	Preparation of documents, communication with the tax office	To minimize the risks of sanctions