Geros buhalterės

Facts and answers

The process of the takeover of accounting

The takeover of accounting takes approximately 2 weeks.

The process of takeover involves the accountant and the head of the company from the side of the company and the appointed accountant and a manager from our side.

First of all, we study the activities of a potential client. We have extensive discussions with the manager or owner of the company. We draft the accounting policies. We agree upon which functions are to be performed by us and which by the employees of the client. For instance: the client will provide us with all invoices received and issued during the reporting month and other documents, and we will register them, prepare tax returns, reports to the manager about the financial state of the company, and the client will make the payments to the suppliers by itself and present the extracts from the bank and cash documents to us.

If the company is not a start-up and the accounting was previously managed by a hired accountant, we take over his/her functions and perform the work at our office rather than at your office or at home (as is customary with the accountants who do it as an additional job).

Stages of the takeover of accounting:

1. Analysis of the situation and requirements:
   • We review and analyse the original data supplied by the company;
   • We choose the most appropriate service package, prepare action plan.
2. We appoint an accountant according to the field of activities of the company;
3. Preparation of accounting policies: defining procedures and assigning competences;
4. Assessment of the situation and presentation of requirements
5. Taking over the accounting:
   • Inquiry to the accountant regarding required documents and reports (data transfer)
   • Evaluation of the report presented by the accountant and transfer of data.
   • Request to provide additional information, when needed
   • Final takeover of the accounting data
   • Presenting conclusions about the state of accounting to the client, consulting.
   • Informing the client about further tasks