Accounting services

Company provides full scope accounting services to Latvian companies, branch offices and permanent establishments for foreign companies. Upon request we can also handle specific functions of accounting work, for example, tax compliance and payroll compliance. By using our outsourced accounting services you will not need to hire internal accountant, purchase accounting software as it will be performed by dedicated team.

What are the advantages of outsourced accounting services?

Large companies usually have their internal accounting team, who is in direct control of this company. While for medium and small size enterprises, it is common to use outsourced accounting services. There are several reasons why SME uses outsourced accounting services:

  • Company does not need to hire full/part time accountant who might need a place in your office,  accounting software, certain IT equipment and potentially regular training;
  • Company does not need to worry of temporary absence of accountant due to various reasons;
  • Company will have access to highly qualifies staff with vast experience in accounting and tax matters;
  • Most outsourced accounting companies have implemented internal control procedures on quality and accuracy of accounting reports and tax calculations;
  • Fee for outsourced accounting services depends on work performed and volume of accounting data processed, which usually is similar or below to salary payable to internal accountant together with related expenditure for acquiring accounting tools..

Why should you select us as your accountant?

Outsourced accounting services are our key business and we do our best to ensure the quality and professional approach. Each accounting company can adopt its own approach focusing on price, quality, expertise or industries on which clients operate. If you appreciate the below-listed qualities which we focus on, then our cooperation will be successful:

  • Our senior accounting team has more than 10 years experience in accounting and tax consulting with international audit companies (so-called BIG4);
  • We have competence in complex transactions, including international trade;
  • When performing our accounting work, we assess options for optimizing tax expenses in line with local law, and which is even more important, we do assess whether your business transactions are not exposed to tax penalties;
  • Depending on your needs, we can perform our work either in your office where all documents are stored, or remotely at our office by strictly complying with deadlines agreed with you;
  • Upon request we propose preparing labor-related documentation, including compulsory labour safety procedures;
  • We will take in charge on potential tax audits or inspections.

What are the difference between internal and outsourced accounting?

Both – internal accountant as well as outsourced accounting company will complete the same accounting work, hopefully in similar quality. But the process of organizing this work may differ:

  • Although you will see more often internal accountant in your office, in case if his/her sickness of other leave you will be left on your own without accountant;
  • Accounting documents are usually stored at outsourced service provider and only after period-end documents are transferred back to your office (although this is less important when most of documents are in digital format).

How accounting work is organized outside from your office?

Once we agree to start cooperation, we will provide you with handbook, in which we explain what type of documents we need from you, what are key tax and accounting law requirements, when information should be provided and deadlines so that we are able to process it within statutory deadlines.

One all information is received from you update your accounting records and send to you updated data.

This process can be illustrated as follows:

  • Client: collection of accounting and transferring these to us either in paper format all electronically (e.g. invoices, payroll information, business trip documents, petty cash expenses, bank information);
  • Corsax Accounting: we process information received from you, prepare tax reports and send updated accounting datas to you, including tax status.

What are your accounting fees?

You may find our accounting fees in relevant web page here:

What are our experience in providing outsourced accounting services?

Currently, we provide outsourced accounting services in the following industries:

  • Installation of heating and ventilation equipment;
  • Construction services;
  • IT services;
  • Laundry services;
  • Insurance intermediary;
  • Lease of staff, including outside Latvia;
  • Road construction works;
  • Marketing and advertising agencies;
  • Installation of telecommunication equipment;
  • International trade of consumer goods;
  • Holding companies;
  • Lease of equipment.

How to start cooperation with us?

If you are in search of accountant, we will be pleased to meet you and discuss potential cooperation with you. You may contact us either by calling, emailing or contacting via contact form: