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Do the accounting for the past periods

Do the accounting for the past periods

Accounting for the past periods

Are your accounting records for previous periods out of order? Of course, it is not the best situation, but you are certainly not the only one to whom this happens. However, not all accounting firms have the resources to work with this group of clients, and as a result, the freedom of choice is significantly reduced. Understanding your concerns and having the opportunity, we usually do not refuse to help and take on the task of organizing accounting records for previous periods, submitting mandatory declarations, and, if necessary, preparing annual financial statements for those periods.

The “Accounting for previous periods” service is intended for those who have suspended their company’s activities in the past, lost their accountant and did not find a suitable one in time, or had an incompetent accountant, whose work may require help from an accounting firm if it gets stuck. However, it should be borne in mind that in most cases this is a much more expensive job, because you have probably already paid someone else for part of the work, and we will have to review all the data to check what has been done in order to avoid duplication of data. In addition, the service itself is more expensive, because it will most likely be done at the expense of overtime. Therefore, the best advice would be not to abandon accounting or choose to manage it once a year, hoping to save money, because most often, unfortunately, savings are not possible. Not to mention the fact that it is against the law, such a practice is also particularly flawed due to the possible loss of information or the loss of the ability to make the necessary corrections in time.

 

Conditions:

  • You must have no more than 500 documents (including bank account records);
  • You need to provide a bank statement;
  • You need to submit a trial balance if your company has previously operated;
  • You need to provide all documents so that we can identify all movements that are reflected in the bank account statement;
  • Please provide us with brief comments if atypical operations have been performed and cannot be clearly linked to other documents;
  • The minimum fee for this service is €200 + VAT, which must be paid in advance. Given the total volume of documents, this amount may be higher.

Need to know:

  • Withdrawals without documents will be treated as withdrawals for private consumption, which will likely increase your VAT, Sodra, personal income, and sometimes corporate taxes;
  • Depositing money without documents can also lead to higher VAT and corporate taxes;
  • If the bank statement for the period is not available, we cannot arrange your accounting. The exception is if the bank account was properly closed before the beginning of the period.
  • If there is no trial balance, but the company operated before the period for which we should arrange your accounting, we will not be able to do it properly.

Possible errors in the documents or lack of documentation

If there are errors in the submitted documents that we could identify and/or documents are missing, you will receive an email informing you about this. This message should be responded to and the missing documents provided within 3 business days. If we do not receive additional documents during this time, we will perform our work in accordance with generally accepted accounting principles.

In cases where, after starting work, it becomes clear that we cannot arrange your accounting due to missing documents, we will not refund the advance payment you paid for this service. Therefore, we strongly recommend that you do not order the service until you are sure that you can provide a complete set of accounting documents, i.e. a trial balance for the beginning of the period and a bank statement and purchase and sale documents for the period for which we maintain neglected accounting.

Ką mes pateikiame Jums?

What do we offer you?

In the event that we receive access to the electronic declaration systems of Sodra and VMI within 4 days after we requested it, the prepared declarations and other reports to state institutions are submitted to these systems. If you do not provide us with access to the aforementioned systems, you will receive the declarations and other necessary reports to state institutions by e-mail, you will only need to properly submit them to the relevant institution yourself.

However, sometimes it is impossible to properly organize accounting without checking what data was previously submitted, therefore access to the systems of the aforementioned institutions can be considered one of the very important conditions.

If you have any inquiries, please contact us