Professional accounting services
We provide quality accounting services to existing companies, support young entrepreneurs in starting a business by providing them with sample accounting documents and a specially designed guide to choosing the legal form and tax regime. We advise on Latvian and international tax issues. We use modern accounting programs and technological possibilities.
Our employees regularly follow the changes in regulatory enactments and are ready to assist you in making decisions by providing the necessary accounting and tax information. We are interested in promoting your financial growth and therefore we are at your service.
We believe that our responsible and selfless work will help you achieve your company’s goals.
Full accounting management
We provide accounting services to companies in various industries. Read more to find out our competences and receive proposal.
If you seek assistance in tax matters, find out more details on our expertise and services.
We offer valuation services which are provided using some of the internationally recognized methods.
Not sure if you need an accountant? Sign up for an accounting consultation.
We will help you take the first steps in the business world with support in founding a SIA company.
Certified accountant, Certified tax consultant.
Frequently asked accounting questions
Client can select variable accounting fee, which is calculated based on number of transactions, or fixed fee based on average volume. Fee is affected by complexity of business and tax regime applied by client. You may find indicative fees here.
After concluding accounting contract we contact you existing accountant and agree on the process for taking over data and documents. We also submit detailed information request to ensure that all needed information and documents are received.
Our liability is covered by insurance policy and insurance coverage is agreed in accounting agreement.
Usually we send monthly profit and loss calculation, balance sheet and general ledger. Additionally may receive list of outstanding receivables and payables. If needed, special reports could be prepared depending on your business needs.
We will need documents supporting your business transactions at least on monthly basis. Documents are delivered either in electronic format (e.g. dropbox, emails, google drive) or paper format (via meeting or courier service). If needed we can provide accounting services also in your office without need to delivery documents physically to us.
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..
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).
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.
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.