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Latest business news

Latvia: Immigration law amendments
26th May 2014
Latvian parliament adopted amendments to the Immigration Law in Latvia on May 8th, 2014. The amendments will come into force on September 1, 2014. Changes refer to the minimum thresholds of the property that qualifies for temporary residence permit.

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Accountancy services (accounting in Estonia, Latvia, Lithuania)

The concept of outsourcing some activities relating to the company’s day-to-day operations has proved to be an effective method of improving performance in many countries. Many companies have found it beneficial to eliminate all departments that are not directly related to their primary line of business: sales, production, or services.

We offer accounting services to small and medium businesses(service of accounting in Latvia, Lithuania or Estonia only) providing efficient and friendly service offering cost effective solutions for your accounting and payroll-related needs in any of Baltic states. We realize full financial analysis of accountancy and timely notification to manager about any risk which endanger successful development of business. We manage making accounting reports, all necessary accounting documents related to Latvia and delivering them to State revenue service, Central Statistical Bureau and other institutions of the Republic of Latvia.

Our accounting in Latvia services include:

  • Financial accounting and reporting
  • Accounting for special purposes (payroll accounting, accounting in the client's system, assistance to foreign clients in the completion of VAT returns etc)
  • Preparation of annual accounts
  • Preparation of regulatory documents (i.e. internal accounting rules)
  • Communication with the Tax Authorities
  • Complete management of the company's accounts

Day-to-day accounting advisory services

We continue to co-operate with the client beyond doing the books and reports. At this stage our services include, but are not limited to, supervision of bookkeeping activities performed by the client and assistance in solving accounting problems.

Our services also include:

  • Ad hoc assistance for internal finance personnel, finance controllers and management on accounting and tax issues
  • Assistance during statutory or internal audits
  • Conducting regular reviews of accounting documentation and procedures
  • Implementation of a model for accounting transactions in the single currency used by the group
  • Implementation of a reporting model for group reporting purposes
  • Development of a methodology for drawing up and controlling the company’s budget

Optimization of the financial and accounting function in any of the following countries - Latvia, Lithuania or Estonia

Changes of internal and external conditions and volumes often give rise to new problems and challenges for any company. We help our clients to identify and implement the most advantageous solutions. We offer a wide range of services supporting the organisation and operation of accounting and financial services, in particular:

  • Evaluation and benchmarking of existing financial and administrative functions
  • Solutions to specific accounting problems relating to merger, reorganization, insolvency and liquidation
  • Assistance in selecting and implementing accounting systems
  • Formulating and streamlining the existing accounting and financial control procedures
  • Implementation of “Fast Closing” procedures
  • Implementation of an onsite or offshore shared service center across multiple locations and countries
  • Updating selected procedures/ rules governing proper business transaction recording processes (e.g., preparation, circulation and verification of accounting documents); ensuring the effective flow of financial information and documents

What are the advantages of outsource accounting services in Latvia:

  • You do not need to create working place for accountant (so you can decrease expenses)
  • You do not need to pay for vacation to accounting company
  • You can control all information and documents which you give to accounting company, so accounting company will receive just necessary information and documents for accountancy
  • Decreases necessity to take into account individual temperament of accountant usually circulation of information in accounting company is greater (so representative of accounting company has more information about events related to accounting and taxes)

Please feel free to contact us if you would like to get more information about accounting services and prices.

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