FOR EVERY COMPANY

THE Procedure for recording and assessing business transactions

We will ensure that the procedure for recording and assessing business transactions is prepared as quickly and simply as possible

Order
FOR EVERY COMPANY

Procedure for recording and assessing business transactions

We will ensure that the procedure for recording and assessing business transactions is prepared as quickly and simply as possible

Order
LAWS OBLIGE

THE head of the entity MUST establish the procedure for recording and assessing the entity's business transactions

The Financial Accounting Law (Article 13, Part 1, Point 3) states that the head of the entity must establish the procedure for recording and assessing the entity's business transactions, and the person responsible for accounting (the accountant) must follow it. Here are the benefits the company gains.

Accuracy and clarity
The company ensures accurate recording of business transactions, which allows clear tracking of the financial position and assets. This helps avoid errors in financial reports and provides a precise understanding of where the company’s funds are.
Compliance with legal regulations
By following the procedure, the company complies with legal requirements, reducing the risk of fines for legal violations. It also ensures reliable and orderly management of the company's documents.
Financial planning and forecasting
Well-organized accounting makes it easier to forecast future cash flows and assess future financial needs. This helps make informed business decisions and avoid unplanned financial issues.
Reliability for partners and investors
Well-organized financial accounting builds trust from external parties, such as investors and suppliers. It demonstrates that the company operates transparently and responsibly, which enhances its reputation.
More effective internal control mechanism
A clear recording and assessment system makes it easier to identify potential shortcomings or inappropriate activities. This helps respond to problems more quickly and optimize operations.

According to Article 13 of the Law on Financial Accounting, the company’s manager is responsible for organizing accounting.

If the company does not have approved procedure for recording and assessing the entity's business transactions, it risks having its accounting deemed improper, and the manager may face fines under the Administrative Offences Code:

Article 99 – from €300 to €6,000
Article 100 – from €300 to €1,450
Article 205 – from €40 to €20,000
Article 206 – from €200 to €3,000
Article 223 – from €600 to €6,000

IS THE PROCEDURE FOR RECORDING AND ASSESSING BUSINESS TRANSACTIONS NECESSARY?

We will prepare a procedure for recording and assessing business transactions that complies with the law (approximately 100-120 pages). Price - €500 + VAT.

Order

IS THE PROCEDURE FOR RECORDING AND ASSESSING BUSINESS TRANSACTIONS NECESSARY?

We will prepare a procedure for recording and assessing business transactions that complies with the law (approximately 100-120 pages). Price - €399 + VAT.

Order

Contact us

Please fill out the order form, and we will send you a pro forma invoice for your order shortly.

OUR CONTACTS

J. Balčikonio g. 3, 08200 Vilnius
+37052075751
info@mytax.lt
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