Accounting and reporting services in Latvia
Accounting obligations combined with a diverse range of standards, reporting requirements or regulations can represent a significant burden for new or even established organisations in Latvia or the Baltics.
Our local team of experienced accountants and tax advisors is ready to help you stay compliant and act as an integral part of your internal finance department with a full functionality and benefits of an inhouse team. In combination with our advanced cloud technology, we are ready to help you automate, standardize and streamline accounting and reporting processes for improved decision-making and more accurate reporting.
Our accounting, bookkeeping, reporting and tax compliance services in Latvia can cover:
- Monthly closing of your accounts, reports on profit and loss, balance sheet, cash flow
- Preparation of all required statutory reports and their submission to local authorities
- Customized management reports
- Consolidated reporting, reconciliation between statutory and management reports
- Accounts Payable and Accounts Receivable services
- Cash management and bank payment administration
- Maintenance of the statutory accounting general and subsidiary ledgers
- Bookkeeping of all primary documents in compliance with statutory requirements
- Inventory services, fixed asset, leases and loans management
- Stock management and related consultancy services
- Representation in communication with the local Tax Office and all statutory authorities in Latvia and Baltics
- Assistance during audits, representation during inspections and tax controls
- Preparation of reports in both local GAAP and international IFRS/US GAAP standards
- VAT compliance and consultancy, VAT registrations and return filings
- Preparation and submission of the annual financial statements
- Preparation and submission of the corporate income tax return
- Any other tax consultancy associated with your operations and projects in Latvia and the Baltics
Go fully digital with less paperwork and decreased chance of error thanks to our online Accounting portal that has been designed to simplify, automate and streamline your accounting-related processes – all in the a secure and user-friendly environment.
The portal can be set-up as a single interface for your bookkeeping by its direct integration with the accounting or ERP system of your choice, thus providing immediate updates and reports about the current status of your organisational finances. All while having better control and oversight of your documents and workflows and their increased transparency.
Our Accounting portal can help you:
- Simplify and streamline your accounting processes
- Digitalize your accounting documents and workflows
- Track the financial status of your company in real-time
- Connect your accounting software to the portal directly
- Effectively manage your purchase invoices and other documents
Our experienced and highly qualified team of local accountants and tax advisors provides you with tailored solutions, reliable accounting consultancy and best practices fitting the local market. In this way we ensure that all your operations meet the legislation requirements applicable in Latvia and the Baltic region.
We can help you cover specific and more complex areas like:
- Establishing accounting control systems and operations
- Fast clean-up and reconciliation of general ledger accounts
- Financial and accounting due diligence
- Review and optimization of accounting and financial procedures and workflows
- International IFRS and US GAAP reporting
- Implementation and localization of accounting systems and ERP solutions