Accounting Services

What We Do

We take care of the books

Your books will be maintained, looked after and neatly organised, archived. Mandatory inspection or in-house analysis of the financial results are going to be worry-free and provide great insights into the needs of the business, possibilities for it, describe upside in numbers. Our specialists follow GAAP rules and regulations along with adapting to your market’s domestic laws and regulations for maximum efficiency.

We provide transparent reporting

Baltic Assist virtual accounting service also helps in preparing financial statements and other fiscal reports. These can be VAT reports, quarterly or monthly reports etc. Replies to credit institutions, transaction negotiation – we provide many services with tons of solutions. Baltic Assist also liaises with external auditors providing the support, responds to inquiries of credit institutions and local tax authorities (SKAT).

We overlook payroll and compensation issues

We take care of calculating daily, weekly, monthly, quarterly or yearly allowances, bonus payments, wages, salaries. In short, we can cover everything related to payment or comp. Taxation issues, payslips, reports – Baltic Assist can manage a steady and sustainable remuneration apparatus for your business at a reasonable rate.

We manage your payments

For a flat fee, Baltic Assist can manage bank accounts, prepare payments and execute them, make advanced payments for future ventures. We also take care of the bank reconciliation to make your work as convenient as possible.

Why Choose Us?
Accounting is one of the most essential and integral parts of maintaining and keeping a successful business running. Inaccurate bookkeeping creates huge fiscal and budget issues. So, how could you avoid it?
Outsourcing accounting and bookkeeping services is the answer! Baltic Assist provides virtual accounting services at a great price.
Our company has experience managing books for both smaller and larger businesses from Norway, Denmark, Sweden and other European countries.
Baltic Assist makes perfect sense for your business because by simply nearshoring you can reduce accounting staff expenditure up to 2/5th of its size.
Interested? Drop us a line to find out more!
How It Works
1. Needs
We contact to evaluate the scope for work and identify exact needs. The more detail you can provide, the more accurate offer will be provided.
2. Agree on process
We agree on the exact deliverables, process description and deadlines.
3. Grant Accesses
Accounting team receives access to accounting and other related systems for task completion.
4. Go live
Your accountant is ready to get going. All you have to do now is provide documentation which is necessary for task execution.
Your Alternatives
Hire a dedicated
accountant
Cost of employment can exceed 5000 Euros per month
Typical procedure of narrowing down the list of appropriate candidates, holding interviews and hiring can take as long as 6 weeks
The employee will generally be limited to around 35-37 work hours per week. He or she is going to be available only on a fixed work schedule
The service provided or work being done is heavily limited to the individual skillset of the particular employee
Baltic Assist
Cost of employment is no more than 35 Euros per hour
Focused on everyday tasks that are usually very labour intensive
Simple upscaling or downsizing of the operations if necessary
Taps into an international network of competent virtual assistants
Available on demand, flexible timetables, negotiable working schedule
Hiring a
local company
Cost of employment ranges from 50-90 Euros per hour or around 12 000 Euros per month
Is more oriented towards traditional business processes, sometimes very slow to adapt
Longer acclimation process, takes time to adjust, reduces operation efficiency during time of change, mergers etc.
Usually limited to a 9 to 5 working schedule
Case Studies
Private Equity Firm

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.

Discount Store Chain

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.

IT Development Company

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.

Angel Investor

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.

Venture Capital

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.

Food-Tech Startup

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.

Real Estate Fund

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.

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