Payroll Administration and Financial Reporting
Contents
- Setup in 1-2 Business Days
- Eligible For 1% Tax Rate
- No Physical Visit Required
- Multi-Currency Banking
Entrust payroll management and financial reporting preparation to NOMOS Georgia’s professionals and ensure full compliance with labor legislation, the pension scheme, and tax standards.
What Are Payroll Administration and Financial Reporting?
Payroll administration includes the accurate calculation of employee salaries, bonuses, leave, sick leave, and overtime hours, as well as the administration of applicable taxes and pension contributions.
Financial reporting is the systematization and presentation of a company’s economic performance in accordance with international (IFRS) or local standards, which is essential both for management and the state regulator (SARAS).
Who Are Payroll Administration and Financial Reporting For?
Payroll administration and financial reporting services are designed for organizations that want to ensure accurate employee compensation management and prepare high-standard financial statements. This service helps companies avoid employment disputes and fulfill their legally required reporting obligations. In particular, the service is especially important for:
- Companies of any size: that have employees and want an efficient payroll process.
- International companies: that require strict confidentiality of payroll data.
- Managers and investors: who need accurate, audited reports to make informed business decisions.
- Category I, II, III, and IV enterprises: that are required to submit financial reports through the SARAS portal.
What Does NOMOS Georgia’s Payroll Administration and Financial Reporting Service Include?
Our service covers two main areas:
Payroll Administration
- Preparation of monthly payroll registers.
- Calculation and filing of income tax (20%) and pension contributions (2%+2%+2%).
- Calculation of leave, maternity payments, and termination compensation.
- Applying employees’ tax benefits.
Financial Reporting
- Preparation of key financial statements (balance sheet, profit and loss statement, cash flow statement).
- Preparation of financial reports under IFRS for SMEs or BAFRS standards.
- Submission of reports to the Service for Accounting, Reporting and Auditing Supervision (SARAS).
Why Choose NOMOS Georgia for Payroll Administration and Financial Reporting?
Payroll data requires maximum accuracy and strict confidentiality to prevent internal conflicts and employment disputes. NOMOS Georgia ensures full data protection and 100% compliance with the requirements of the Labor Code.
Highly qualified attorneys providing reliable, compliant, and strategic legal solutions.
Streamlined digital processes allowing you to manage your legal affairs from anywhere.
Clear, upfront costs with absolutely no hidden fees, ensuring full financial predictability.
What Will You Receive from NOMOS Georgia’s Service?
- Full confidentiality of payroll data within the company;
- Accurate and timely fulfillment of pension and tax obligations;
- Full compliance with SARAS regulations and avoidance of penalties;
- A transparent financial picture for assessing the company’s actual position.
Frequently Asked Questions
How Do You Ensure the Confidentiality of Payroll Data?
We use secure internal systems and encrypted channels, through which payroll information is accessible only to the company’s founder or an authorized person.
What Is the Standard Pension Contribution Rate in Georgia?
The standard contribution totals 6%: 2% is paid by the employee, 2% by the employer, and 2% by the state.
What Is the Deadline for Submitting Financial Reports to SARAS?
The deadline for submitting financial reports is October 1 of the year following the reporting year.
Do You Assist with Applying Employees’ Tax Benefits?
Yes, we review benefits provided by law (e.g., for persons with disabilities, families with many children, and low-income benefits) and reflect them in the payroll register.
Can I Choose Only Payroll Administration Services?
Yes, you can use either payroll services separately or a comprehensive financial reporting package.
Our legal experts are ready to guide you through establishing your corporate presence in Georgia with turnkey support.