Accounting & Tax Services for French subsidiaries of international businesses
English-speaking Certified Public Accountant (CPA) in Paris, France
GAAPWise is a bilingual English-French accounting firm based in Paris, France. The managing partner is a Chartered Certified Accountant member of both, the French Institute of Certified Public Accountants (OEC) and the UK Association of Chartered Certified Accountants (ACCA).
We have extensive experience in assisting French subsidiaries and branches of international groups and understand the challenges you face in your efforts to comply with both French legislation and your group’s requirements.
With our rich experience working with international companies, GAAPWise will be your key business partner and one-stop-shop for your expansion in France. Whether it is for bookkeeping (on our system or yours), preparation of annual accounts, taxation, payroll, company secretarial or company domiciliation, GAAPWise has the solution to your needs.
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Our services for Small Business Owners and for French subsidiaries of International Groups
Bookkeeping & Management accounts
We provide complete bookkeeping services according to French GAAP.
This includes day-to-day bookkeeping, the preparation of annual accounts and the provision of a compliant FEC file.
Depending on your needs, we can also provide management accounting services on your own software or ERP, in accordance with your group accounting standards (IFRS, US GAAP, UK GAAP or non-GAAP). This will prevent duplication of effort and allow you to have a single point of contact for the entire finance function of your French entities for both statutory and management purposes.
Month-end Management reporting
You are a French company newly created or acquired by an international group and do not yet have in-house skills to produce management reports according to the group’s format and standards (e.g.: IFRS, US GAAP or UK GAAP). Or, you may simply wish to outsource this task to optimise your resources.
Whatever the scenario, our bilingual staff can help you prepare your monthly management reports.
Compilation Engagement (GAAP Conversion)
For the purposes of the Companies House and the tax authorities, French companies are required to prepare their statutory annual accounts (individual company accounts) according to the Plan Comptable Général (PCG), ie. French GAAP.
When the company keeps its accounting records in accordance with a foreign financial reporting framework (e.g.: IFRS, US GAAP, UK GAAP or non-GAAP), the company’s accounts must be transposed (or converted) into French GAAP before they can be filed with Companies House and before computing and filing the corporate tax return.
GAAPWise helps French subsidiaries of international businesses to meet this requirement through the compilation engagement.
When dealing with several accounting standards it is essential to maintain a sound audit trail of all the GAAP adjustments. For all assignments we ensure to deliver the followings:
- Detailed diagnostic reports
- Mapping the Group Chart of Accounts (CoA) to the French CoA
- An Extended Trial Balance (ETB) documenting all the GAAP adjustments
- French statutory annual accounts, including disclosures
Tax Compliance in France
There are several tax returns in France. Some are due at regular intervals (e.g. VAT, CVAE, corporation tax, etc.). Others are due on the occurrence of certain events (e.g. dividend distribution).
Our tax team understands and keeps up-to-date of the latest local tax legislation relevant to our clients’ needs. We provide a high-quality service to help companies develop their business activities in France while optimising their tax burden.
We advise on French tax regulations, transfer pricing requirements, optimal corporate structure, tax incentives and more.
Payroll services in France
Payroll is both time-consuming and a sensitive function. It involves your company’s most important resource: staff. Therefore, it is important that this function is entrusted to experts who will be able to respond quickly and efficiently to changes in legislation and employees or URSSAF (France HMRC equivalent) enquiries.
Our services include pre-employment declarations, administrative management of events (illness, leave, maternity leave, resignation, dismissal, etc.), monthly Full Payment Submissions (DSN), preparation and electronic sending of payslips.
We also handle the administration of expatriate personnel.
Fichier des Écritures Comptables FEC in France (Accounting Entries File)
French companies that keep their accounting records using a computerised system are required, upon audit, to submit to the tax authorities a FEC prepared in accordance with French accounting standards. In addition, the tax authorities require that the wording of the accounts and entries in the FEC be in French.
This requirement is problematic for international groups that operate in France through a subsidiary and whose accounting is kept in English on the group’s ERP system or in a shared services centre.
Whether or not your system is capable of producing an FEC, GAAPWise can help you assemble a compliant FEC or check and adjust the one produced by your system to ensure compliance and thus reduce the risk of the FEC being rejected.