DIY bookkeeping for EOOD in Bulgaria — realistic guide

Can an EOOD owner do the bookkeeping themselves?

Short answer: yes, for simple cases. Bulgarian law does not require hiring an accountant for the day-to-day bookkeeping of an EOOD. The only hard requirement is that the annual financial report (GFO) must be signed by a certified accountant.

The profile of a "simple" EOOD

Self-managed bookkeeping is suitable if you:

✅ Have no employees
✅ Have up to 50–100 transactions per month
✅ Have uniform activity (e.g. consulting services only or online sales)
✅ Are not VAT-registered or are registered under Art. 97a
✅ Have no inventory or fixed assets requiring depreciation

Examples: freelance developer, consultant, designer, small online shop.

What you need to know

To manage your own books you need to understand:

Topic	Complexity	Resource
Issuing invoices	Low	Invoice guide
Recording purchases	Low	Purchase guide
VAT return (if VAT-registered)	Medium	VAT guide
Closing a period	Low	Period guide
Monthly checklist	Low	Monthly checklist
Annual GFO	High (accountant required)	GFO guide

When you definitely need an accountant

❌ Mandatory: GFO requires a certified accountant's signature
❌ Strongly recommended: if you have employees (payroll, social insurance are complex)
❌ Strongly recommended: standard VAT registration (20%) with many transactions
❌ Strongly recommended: during a tax audit by the NRA
❌ Mandatory: statutory audit (companies above certain size thresholds)