The comparison at a glance

This guide compares the real cost of both models — without marketing promises. If you are looking for the legal framework, see Can an EOOD owner do the bookkeeping themselves?. If you also want to know about the risks, see mistakes, fines and liability.

How much does an accountant cost

Typical prices at accounting firms in Bulgaria (2026):

Annually, this means:

• Micro-company without employees, not VAT-registered: ~€360–1,200/year
• The same company with VAT registration: ~€660–1,800/year
• Company with 1–3 employees: ~€900–2,400/year

Separately, if you use an accountant only for the year-end closing:

• Preparation and review of the GFO: ~€150–400 one-off
• State fee for filing (application G2): none is due (check the Registry Agency's current tariff)

How much does self-managed bookkeeping cost

The self-managed model with Firmify has three cost items:

If you do not want to handle it yourself, but you do not want an accounting firm either, Firmify also has a managed plan — €29/month (€19/month for freelancers), where the Firmify team keeps the books for you.

How much time does it take

Money is not the only cost. A realistic estimate for a micro-company without employees:

• Entering invoices and bank transactions: ~30 minutes per month
• Checking VAT (if you are registered): ~15–30 minutes per month
• Year-end closing and GFO preparation: ~3–6 hours once a year

Total: around 8–12 hours per year. If your hour is worth €30, that is ~€240–360 in opportunity cost — an amount that often makes DIY the better choice, both financially and personally.

When each model pays off

The practical rule: the more uniform the activity and the fewer the people, the more worthwhile the DIY model is.

The hidden costs in both models

• DIY: mistakes are paid by you (fines, interest, corrections); a KEP is required; at the first audit or complex case you will be looking for help at short notice.
• Accounting firm: fees for extra work (audits, prior years, corrections); the price grows with volume; with poor communication, documents are delayed and deadlines are missed even without any fault on your part.
• In both models: the manager's social insurance contributions and taxes remain yours — they are not part of the fee.

💡 Tip: ask for a quote that includes: number of documents per month, VAT reporting, payroll, GFO and the price of extra work. That way you compare real prices, not starting prices.

The hybrid option

For a small EOOD, the model that most often wins is doing it yourself during the year + an accountant for the year-end closing. You pay only for the review of the GFO, and the day-to-day work takes you around 30 minutes per month.

Read more: The hybrid model — you keep the books yourself, an accountant closes the year.