Accounting services for
legal entities
From processing source documents to preparing reports in accordance with Latvian law and submitting them to state institutions.
Full-cycle
Accounting services for companies
We perform careful, accurate and responsible accounting, preparing documents and reports for submission to the State Revenue Service (SRS). All our specialists hold professional indemnity insurance, not because we question their competence or because the law requires it, but because we want you to feel safe, knowing that we take full responsibility for the work.
Our specialists will remind you about documents that haven’t been submitted, reporting deadlines that are approaching, and other details you or a colleague might have forgotten about.
We work with the accounting programs 1C and Tildes Jumis and can also adapt to other accounting programs at the client’s request.
The cost of Innovatio Capital services depends on the scope and specifics of the work; therefore, we agree on a monthly fee with each client individually.
Our specialists provide consultations in Latvian, Russian and English, both in writing and during meetings online or in person.
Accounting services
- Verifying transaction documents in accordance with Latvian law
- Posting transaction documents in a licensed accounting program
- Preparing value added tax (VAT) declarations and submitting them to the SRS electronic declaration system (EDS)
- Preparing corporate income tax (CIT) returns and submitting them to the SRS EDS
- Preparing any other tax declarations and submitting them to the SRS EDS (natural resource tax, excise duties, etc.)
- Preparing reports and submitting them to the SRS EDS
- Calculating wages
- Drafting employment contracts
- Accounting of business errands and trips
- Preparing bank payments
- Accounting of taxes in accordance with Latvian and EU law
- Preparing supporting documents
- Accounting of fixed assets and intangible investments
- Accounting of cash and bank operations
- Accounting of advance payments
- Inventory accounting
- Drafting and submitting annual company reports
- Preparing operational financial statements for leasing, banks and other institutions and organisations
- Developing accounting organisation documents
- Creating a computerised accounting system
- Company representation at the SRS and other state institutions
- Preparing reports for the Central Statistical Bureau, the Bank of Latvia, the Financial and Capital Market Commission, etc.
- Preparing reports for company members or shareholders
- Ensuring the registration process at the SRS for tax payment purposes
- Collaboration with a sworn auditor of your choosing or with ours
- Preparing specific reports for state and local government institutions
- Auditing of accounting and financial data in case of company takeover or acquisition
- Preparing consolidated financial statements
- Working with COVID-19 state support (downtime and wage subsidies, working capital grants): evaluating support criteria, requesting support, accounting and control of the use of support in accordance with the regulations issued by the Cabinet of Ministers
- Ordering and refurbishing the accounting of previous periods, correcting errors
- Representing the client’s interests at the SRS and other institutions involved in the accounting and taxation process
- Ensuring the client’s platform has regular access to financial data
- Other services (assistance in obtaining the А1 certificate, accounting of the special OSS/IOSS regime for VAT, assessment of double taxation, tax accounting for non-residents of Latvia in accordance with Latvian law)
Full range of accounting services for legal entities
Why you’ll like working
with us
While the basic principles of accounting are uniform, every company manager has their own specific requirements regarding how to exchange information, which accounting programs to work with, etc. Our team adapts to the requirements of each client.
Experience
Our specialists have more than 15 years of experience in tax, accounting, financial management and related matters.
Confidentiality
We guarantee confidentiality for every collaboration partner, regardless of the form and duration of collaboration.
Insurance
All Innovatio Capital specialists hold professional indemnity insurance.
Knowledge
We are always up to date on legal amendments and regularly attend courses and seminars.
Flexibility
We work with a variety of accounting programs. We also offer the possibility to organise regular meetings in person or online.