Bookkeeping and Accounting Services for Businesses and Companies in Israel

Ongoing Bookkeeping for Self Employed and Companies

Bookkeeping is the ongoing record of a business: recording invoices, reconciliations, tracking balances and reporting to the tax authorities. Without accurate records there is no reliable picture of the business, and no basis for a VAT return, an annual report or a business decision.

SAS&co provides ongoing bookkeeping for exempt dealers (osek patur), licensed dealers (osek murshe) and Ltd companies in Israel, single entry or double entry, as a standalone service. You can take bookkeeping only, even if reporting, payroll or tax advice is handled by someone else. There is no bundling between services.

Financial Reports, Bank Reconciliations and Month End Close

You can take only the analysis and closing layer, without handing over the ongoing bookkeeping. If your finance team is in place and reports, reconciliations or period close are missing, we step in for that part only. We provide:

  • Bank reconciliation: matching the book balance to the bank balance, and identifying checks, fees and standing orders.
  • Intercompany reconciliation: matching balances between related companies, including an Israeli company and a foreign entity.
  • Monthly and quarterly close, including open accounts and exceptions.
  • Profit and loss and management reports, by cost center or by activity.
  • Preparing materials for the external accountant and the audit, without replacing the accountant.

The goal: financial figures you can rely on during the year, not only in the annual report.

VAT and Income Tax Reporting and Annual Reports

Reporting to the Israeli tax authorities is a separate service. You can take it on its own, or alongside ongoing bookkeeping, depending on what your business needs. The service includes:

  • Periodic VAT returns and VAT reconciliation.
  • Income tax advance payments and payment tracking.
  • Withholding and related reporting, as required.
  • Annual report for licensed dealers: profit and loss, tax adjustments, and forms 1301 and 6111.
  • Annual report for Ltd companies, and support in preparing materials for the external audit.
  • Keeping supporting documents and answering questions from the Israel Tax Authority.

Reporting errors usually surface late. Ongoing close reduces the gap before it turns into a penalty.

Support for Finance Teams and Bookkeepers

Finance team support means joining an existing team, not replacing it. SAS&co steps in for a busy period, a project or a leave of absence, and steps out when the need ends. Especially suited for:

  • Month end close when the team is overloaded.
  • Maternity leave, long sick leave or a bookkeeper leaving.
  • Migrating to a new accounting system, including parallel runs.
  • Audit preparation or a one time project.
  • Project based or ongoing work, in Israel and with foreign entities.

You can take support only, without handing over all bookkeeping. The scope is set by need, not by a package.

Benefits of SAS&co Bookkeeping Services

  • Targeted service: bookkeeping only, reports only, tax reporting only, or team support only.
  • No bundling between services. Another provider can keep handling the rest.
  • Suited to exempt dealers, licensed dealers and Ltd companies.
  • Experience with international activity and intercompany reconciliations.
  • Available for busy periods, without hiring a new employee.
  • Pricing set after scoping, not by a fixed price list.
Contact us for a customized solution

Bookkeeping FAQ

Bookkeeping for a licensed dealer (osek murshe) in Israel usually costs between 300 and 700 ILS per month for single entry bookkeeping, and between 600 and 3,000 ILS per month for double entry. An exempt dealer (osek patur) usually pays between 100 and 300 ILS per month. The price depends on activity volume, number of invoices and documents, and number of employees, and is finalized after scoping.

Double entry bookkeeping for a small Ltd company with local activity, including ongoing reporting, usually costs between 800 and 4,000 ILS per month. For companies with international activity, several entities or group reporting, the price is higher and set by the scope of work. An annual report for a company ranges between 1,000 and 4,000 ILS, and an external audit between 8,000 and 30,000 ILS.

The difference between bookkeeping and accounting is the level of work. Bookkeeping is the ongoing record: recording invoices, reconciliations and reporting to the authorities. Accounting is the layer above: account analysis, reconciliations between systems, financial reports and support for finance teams. SAS&co provides each separately, or both, as needed.

No, you do not have to take payroll or tax advisory services. Each SAS&co service stands on its own. You can take bookkeeping only, even if payroll, tax or reporting is handled elsewhere, or the other way around: reports and analysis only, without the ongoing bookkeeping.

The difference between an exempt dealer (osek patur) and a licensed dealer (osek murshe) in Israel is VAT collection and reporting. An exempt dealer does not charge VAT or file VAT returns, and has a capped annual turnover. A licensed dealer charges VAT, files periodic VAT returns, and must report to income tax and pay advances. Moving from exempt to licensed requires updating the file with income tax and VAT.

An annual report for a licensed dealer includes a profit and loss statement, tax adjustments, tax calculation and filing with the Israel Tax Authority. Related forms such as 1301 and 6111 are usually required, along with keeping supporting documents.

A bank reconciliation compares the bank balance in the books with the balance at the bank, identifies gaps such as uncleared checks, fees and standing orders, and documents how they were handled. A missed reconciliation is one of the most common reasons for gaps that surface only at closing.

An intercompany reconciliation compares balances between related companies, for example an Israeli company and a foreign entity, to make sure the amounts match on both sides. These gaps are a common audit finding, especially in global organizations.

Finance team support is a service in which SAS&co joins an existing team during a busy period: month end close, a one time project, a system migration, audit preparation, or a bookkeeper’s maternity or long sick leave. It does not replace the team. The work can be project based or ongoing, in Israel and abroad.

Yes, you can take only reports without handing over all bookkeeping. If your team is in place and ongoing records are covered, SAS&co steps in for reports, scoping, reconciliations or closing only. The scope is set by what is missing, not by a package.