Accounting and Bookkeeping
Collecting every invoice, preparing and managing bank transactions and payments might be simple, but time-consuming daily duties. We will provide you with a high-level and cost-efficient accountant who will handle your daily books and free up your time for your core business.
Preparation of Financial Statements / Management Reports
Accurate financial statements and reports play a vital role in determining business health. Statements and reports can show threats and opportunities for company’s growth. A tiny mistake may lead to a huge loss, however, correctly created reports is a must for every company. We create 100 % accurate reports and provide insights about opportunities and threats of firms’ finances. We managed to save tens of thousands by generating and analyzing accurate reports.
Correctly counted payrolls are playing one of the vital roles for the happiness of employee. Moreover, changing local legislation policies frustrates many businesses and consumes time. Nevertheless, we will cover all of the payroll fields.
Payment Processing Services
Arranging payments of invoices - prepare and approve (if access is granted) payments by the due dates of a purchase invoices and by your specific requests.
Cash exchange transactions - transfers between accounts with different currencies on request and in order to allocate funds to the specific accounts.
Arranging salary payments - prepare NET salary payments and tax payments to authorities.
Other cash transfers in accordance with Client's agreements.
A venture capital / private equity firm was in the middle of a search for reasonably priced outsourced investment analysis services. The firm executes numerous transactions in the United States and all over the globe daily, thus pinpoint and most-recent data about local financial sector is a must-have. Baltic Assist stepped up to the challenge and procured competent specialists in sectors of finance, investment, capital management to work remotely. As a result, in-house employees were no longer carrying the hard-to-manage extra load and could dedicate their full attention to their primary objectives at the main office. The best part about it – the time difference with the United States means that data flow does not stop at night, and on-site workers already have something to work with, in the morning after Baltic Assist ends their shift here, in Vilnius.
As one of the fastest growing discount store chains in Northern Europe, this company saw that establishing a local back office with competent staff members and doing so cost-efficiently could be an uphill battle. Baltic Assist rose to the occasion regarding providing accounting services from a back office with a fully-flexible location. VAT reports, payroll, payables and receivables account management, as well as management reporting along with many other services, are provided daily. All for a reasonable price, without any compromise in quality. Due to Baltic Assist’s proximity to the domestic Scandinavian market, home of the client – premium quality service along with competitive pricing brings excellent benefits. This is a prime example of nearshoring at its finest. The client is expanding operations in Baltic Assist every year.
A company that provides a wide range of IT solutions was searching for a way to minimize costs in the areas of finance and accounting. With the latter, there also was an additional objective to make it more process-oriented, scalable and optimized for efficiency. As of today, Baltic Assist keeps books for ten enterprises in the group. This “keeping of books” involves daily work, such as:
- Setting up payments
- Follow-up on debts
- VAT reporting
- Overall data management
Along with quarterly, monthly or consolidated reports, preparing financial statements and more. Baltic Assist provides everything from preparation to delivering finished documents for audit. The client achieved tremendous benefits in efficiency, significantly reduced operating costs as well as integrated automation in many accounting processes.
When you are an individual investor the value of proper and high-quality bookkeeping increases significantly. Since angel investors provide investments in the early stages of business, every number, comma, process and financial transaction requires diligence as well as professional insights to maximise the capabilities of the enterprise to bring in profits. Baltic Assist can provide all of that through competent services of investment evaluations, a full-service accounting, invoicing, debtor follow up, preparing financial reports, calculating such parameters as amortization as well as much more. Through the lens of virtual accounting, Baltic Assist remains an excellent option for this client because we are a one-stop shop for competent and premium quality advisory, bookkeeping. As a result, the customer can fully concentrate on primary objectives rather than combating numerous challenges facing many young businesses that the angel investor has to oversee.
In the venture capital business, there is a lot of processes and things going on behind closed doors. One of our clients is in venture capital, providing SEED funding mainly to tech startups with tremendous upside. Since the firm was looking to partner up with someone that is able and willing to provide advisory/consultancy/accounting services for the startups – Baltic Assist came into the picture. We were assigned with the task of monitoring expenditures, making sure that partners, suppliers and local talent are “bought” at a reasonable price. We do a lot of forecasting, management reporting, financial reporting as well as client assistance by being proactive in acquisition handling, liquidation, merger processes also. Since the venture capital firm is interested in expansion, we do as much as possible from our standpoint to lay a foundation in the finance sector for a substantial upscale. The firm continues a mutually beneficial partnership with Baltic Assist, later recommending us to the same startups which we were assisting previously. Nearshoring accounting services and team extension is well worth it. This is a prime example of it.
The main preference for a startup with limited investment and financial capabilities is always cost-efficient solutions. With one of our clients – a food-tech startup – the case was simple. Someone needed to supply reliable accounting services, quality management as well as fully engulf and take care of a whole branch of fiscal operations. Baltic Assist provides reasonably priced bookkeeping services that benefit the client in more than one way. On-time report deliveries, statement preparation, interest calculation, carrying out audit procedure, purpose-drafted special monthly management reports and more. The main branch of the company can work on making the service better while Baltic Assist manages the books and relieves the workload.
Baltic Assist provides independent financial services with high competence and all for a reasonable price. Our client is a vertically integrated real estate product innovator with its primary objectives of developing, investing in and operating real estate all in the common goal to make it better. Baltic Assist provides operational expertise (liaison with clients, assistance on administrative or accounting issues), helps build long-term business partnerships, thinks forward with new client take-overs, proposes improvements. The main task, however, is comprised of VAT reporting, payroll management, financial reporting, budgeting, forecasting, and much more accounting services. With proper high-quality and affordable bookkeeping, this private equity company can venture into new businesses, organize deals, mergers and draft better financial plans for the future.