Integrated Accounting for Small and Medium business

28 Nov

Integrated Accounting for Small and Medium business

To begin with, the issues of accounting and taxation are extremely important, and it is impossible to do business without them. Moreover, the task of maintaining correct and accurate accounts becomes even more complicated in the obstacles of constantly changing legislation. In most cases only high-qualified specialists are able to follow and control constant changes in tax legislation. Besides, taking into account the shortage of qualified professionals, paying a specialized accounting company often becomes cheaper and more productive than hiring a personal bookkeeper. Thus, there is no need to search for a good specialist, train him, and guarantee him a constant work place with a PC and software. By entrusting your accounts to our specialists, you receive a number of additional benefits:
Firstly, due to the fact that our clients are working in all kinds of business areas, our experience is rich and versatile. Our company specialists possess a large volume of information in accounting and taxation practically in all business areas.
Secondly, since our accountants are closely working with the legal department, they know the ropes of legislation. Thus, all the questions are considered taking in account not only tax legislation, but also commercial law, which allows the overall optimization of your business.
Besides, another important factor for your business is successful time management that gives you a possibility to concentrate all the efforts on those processes which really render a profit.
Both tax accounting and book records are kept continuously since the business start-up, which takes quite a lot of time. SRS requires submitting the reports every month, even if your company is inactive. We can take the responsibilities of preparing the necessary reports, and help you to cooperate with the state institutions, which will give you an opportunity to focus attention on your own business.

Accounting services, offered by our company include:

  • Developing new approaches to record-keeping
  • Verification, analysis and processing of primary documents
  • Primary documents registration and account books creation
  • Calculation of wages and other payments
  • Fixed assets record and deprecation
  • Cash transactions and accounting Payroll
  • Maintaining of tax records, using legal possibilities to optimize the tax base
  • Ongoing reporting and submission of monthly, quarterly, and year-end reviews and declarations to the SRS
  • Other reports preparation and submission to the state institutions (Central Statistical Office and the Bank of Latvia)
  • Preparation of operating balances
  • Advice on financial accounting and taxation
  • Representation of your business in relations with the SRS and other state regulatory bodies, including tax audit

Usually, the process of cooperative labour is the following: once a month (or more often, depending on the volume of documentation) we receive your primary documents. We handle and systematize them and form all the accounts and tax ledgers. We also periodically compare the receivables and payables. On the basis of the provided documents, we prepare and submit the report to SRS and Statistics Department. Each month we are sending you the Payrolls and prepare the tax payments. All advice on accounting and taxation for companies using our accounting services are free of charge.