Baker Tilly provides accounting services to Lithuanian and foreign capital companies of various legal forms and sizes.
We provide accounting services using Microsoft Dynamics 365 Business Central and Rivile GAMA software. Upon request, we provide clients with online access to their company’s accounting database. If desired, we can also provide accounting services using other business management software used by the client.
Accounting
- Accounting in accordance with Lithuanian Financial Reporting Standards (LFAS) and/or International Financial Reporting Standards (IFRS).
- We provide accounting services from the preparation of primary accounting documents and accounting to the preparation of financial statements.
- Based on accounting data, we periodically prepare and submit reports to managers for management purposes.
- We represent our clients’ interests in state institutions (Registry Center, State Tax Inspectorate, Social Insurance Fund, customs, etc.).
- We prepare accounting policies and standard operating procedures.
Financial reporting
- We are ready to help company managers fulfill their annual obligation to provide financial reports to shareholders and government institutions.
- We prepare interim, annual, and/or consolidated financial statements in accordance with Lithuanian Financial Accounting Standards (LFAS) and/or International Financial Reporting Standards (IFRS).
- We have experience in preparing tax returns and financial statements using centralized accounting data managed by corporate groups.
Other accounting services
Salaries
- We calculate salaries, submit social security and income tax reports, and manage personnel documentation. We can export payroll data to the banking system using Bankfeed and XML data functionality software.
Tax Accounting
- We maintain accounting records for tax purposes for foreign entities registered in Lithuania as taxpayers or VAT payers.
- We perform accounting for VAT, profit, personal income tax, social security contributions, and other taxes, and submit tax returns to the relevant authorities.
Management Accounting
- Our team is ready to present and discuss the state of your company’s operations as reflected in its financial statements. We can help you identify key performance indicators to measure the success of your business.
- We provide budget preparation and business planning services, as well as periodic comparisons of performance indicators with the budget.
- After analyzing your company’s performance, we are ready to discuss possible actions to increase the company’s profitability, manage cash flows, and utilize the company’s reserves.
- At the client’s request, we participate in company board meetings to present the company’s financial information.
