Documents and transactions
We review and record sales and purchase invoices, bank transactions, receipts, expense reports and other supporting documents.
Riga and all of Latvia
Accounting services in Riga
Day-to-day bookkeeping, payroll, tax returns, annual financial statements and well-organised document workflows for companies that value clarity and control.
Accounting aligned with your business
The scope of service depends on your business model, document volume, number of employees and reporting needs. At the outset, we agree on responsibilities, deadlines, document channels and the information management expects.
Taxes and reporting
We prepare the applicable tax returns and reports, check the underlying figures and monitor filing deadlines in line with the company’s tax status.
Management information
Reliable records help management understand revenue, costs, liabilities and outstanding documents throughout the year.
Payroll and personnel documents
Accurate payroll requires more than a gross salary figure. Working time, absences, employee status, tax-booklet data and every additional payment must be properly documented.
VSAOI and personal income tax
We apply the relevant social insurance rates, non-taxable allowance, dependant allowances and personal income tax rules.
Leave and sick pay
Calculations are based on the correct average earnings, absence period and working-time records.
Employer reports
Payroll data is reconciled with employer reports and the applicable tax-payment deadlines.
Annual financial statements
Year-end reporting builds on the records maintained throughout the year. Before preparing the statements, we reconcile material balances, review receivables and payables, and collect the information required from management.
Period-end closing
We check that documents, payroll, taxes, bank transactions and period-specific expenses have been recorded.
Balance review
We reconcile bank accounts, receivables, payables, advances, fixed assets and other material balances.
Preparation and filing
We prepare the statements applicable to the company’s category, discuss material matters with management and file the approved documents.
How cooperation begins
We first review the company’s tax status, operations, accounting software, document volume and current deadlines. If another accountant previously maintained the records, we arrange a controlled handover.
Initial review
We identify the work required, outstanding issues and the information needed to begin.
Document handover
We agree what must be obtained from the previous accountant and verify the opening balances.
Monthly workflow
We set deadlines for documents, questions, reports and management information.
In Riga and remotely across Latvia
Our office is at Latgales iela 55-1B in Riga. Regular cooperation can also take place remotely through agreed secure channels, with office meetings available by appointment.
A controlled monthly process
Documents are collected, checked, recorded and reconciled. Unclear transactions are referred to an authorised company representative before a return or report is filed.
Clear responsibilities
Management provides complete and timely information and approves business decisions. The accountant maintains the records, prepares calculations and reports, and flags missing or inconsistent information.
Secure access and traceable decisions
Access to EDS, banking and document systems is limited to what is necessary. Material accounting and tax decisions are documented so that the work remains verifiable.
How the monthly accounting process works in practice
Well-organised outsourced accounting is more than filing returns at the end of the month. It is a repeatable cycle in which documents are received, checked, recorded and reconciled, while questions requiring a business decision are referred to the company’s authorised representative.
Collecting and checking documents
Invoices, bank statements, receipts, contracts, working-time records and other documents are submitted through the agreed channel. Before an entry is made, we check the date, counterparty, amount, currency, tax details and connection with the company’s business. Missing evidence is clarified rather than replaced with an assumption.
Recording transactions and controlling accounts
Documents are recorded according to the economic substance of each transaction. Bank, cash, employee advances, receivables and payables are reconciled alongside the entries. Regular checks help identify duplicate invoices, unidentified payments, overdue balances and differences between the ledger and a business partner’s records.
Calculating taxes and preparing returns
Once the period’s data is complete, we prepare the applicable tax returns and employer reports. Before filing, totals are cross-checked against the accounting registers and information available in EDS. Where management input is required, the issue is resolved before the return is submitted.
Closing the period and informing management
At month-end, we record which work is complete, which questions remain open and which documents are still outstanding. Depending on the agreed scope, management can receive information on debts, costs, tax liabilities or cash flow so the accounts also support day-to-day decisions.
How responsibilities are divided in an outsourced engagement
A written agreement and a clear working routine prevent both parties from assuming that a particular task is somebody else’s responsibility.
Management’s responsibilities
Management provides accurate and timely information, organises document circulation, approves business decisions and identifies who may instruct the accountant. The company remains responsible for retaining documents, maintaining appropriate internal controls and reporting agreements or events that cannot be understood from bank data alone.
The outsourced accountant’s responsibilities
The accountant performs the bookkeeping, calculations and reporting work specified in the agreement, checks whether the documents received are suitable for accounting purposes and reports identified gaps. An accountant cannot invent the business purpose of a transaction or make a commercial decision on management’s behalf.
Access and data security
Access to EDS, banking, invoicing systems and cloud storage is granted only to the extent needed. It must be clear where final document versions are stored, how credentials are shared and who revokes access when a person or service scope changes. Data security is part of the daily process, not a one-off setting.
Escalating questions and correcting errors
An unclear transaction is identified, described and referred to someone who can provide evidence or make the required decision. If an error is found, its effect on periods and reports is established before the correction is documented. This preserves traceability and prevents one adjustment from creating further inconsistencies.
What to check when taking over the accounting records
A handover from another accountant is a separate control stage. Starting the new monthly process from reliable data requires more than receiving an accounting-software file: the content of the records and all unfinished work must also be understood.
Opening balances and registers
We review the general ledger, receivable and payable listings, bank and cash balances, fixed assets, inventory, loans and tax accounts. Totals must be reconcilable with filed reports and the supporting documents available.
Outstanding matters and deadlines
Missing documents, returns requiring amendment, disputes with business partners, SRS correspondence and management decisions not yet reflected in the accounts are listed separately. This avoids treating a formal data handover as proof that every earlier period is complete.
A practical communication and approval process
Day-to-day cooperation should distinguish routine document questions from matters requiring immediate management attention. The company appoints authorised contacts, while the accountant maintains one consolidated list of missing documents, unclear transactions and decisions needed to close the period.
Replies should be linked to the relevant invoice, payment, employee or period instead of being sent as context-free messages. Where a verbal discussion leads to a decision affecting accounting or tax, the essential conclusion should also be recorded in writing.
This reduces repeated questions, supports continuity when a colleague is absent and preserves the reasoning if the responsible person later changes. A regularly reviewed open-items list also gives management a practical control tool: it shows which documents are delaying the close and which decisions may still affect tax calculations or management reports.
Need reliable, well-organised accounting?
Tell us about your business, document volume and current situation. We will recommend an appropriate scope of service and the next practical steps.
Frequently asked questions about accounting services
Practical answers for companies in Riga and elsewhere in Latvia.
Are outsourced accounting services available outside Riga?
Yes. Meetings can be held in Riga, while document exchange and day-to-day communication can be organised remotely for companies throughout Latvia.
What is usually included in monthly accounting services?
The service may include transaction recording, bank reconciliation, tax returns, payroll and agreed management reports. The exact scope is set out in the service agreement.
Can you take over the records from another accountant?
Yes. We arrange the transfer of data, documents and access rights, verify opening balances and identify outstanding filings or unresolved matters.
How often should documents be submitted?
The schedule should reflect the company’s activity and filing deadlines. Regular submission during the month is safer than sending everything immediately before a deadline.
Can you also prepare management reports?
Yes, if this is agreed and the accounting records contain sufficient detail. Reports can cover receivables, payables, costs, cash flow or other relevant indicators.
Is annual reporting included in the monthly fee?
It depends on the service agreement. Annual financial statements are a separate year-end process, so their scope and price should be stated explicitly.
What determines the service price?
The price depends on document and transaction volume, employee numbers, tax regimes, foreign transactions, cash or inventory records, reporting needs and the condition of the existing accounts.
Does the accountant need access to EDS?
Regular filing normally requires appropriately configured access to the SRS Electronic Declaration System. Access should be limited to the functions needed for the agreed work.