Every company is required by law to prepare annual reports. Our tool for preparing annual reports – an automated and convenient technological solution – will help you prepare quality financial statements according to Latvian statutory requirements, as well as saving significant time and helping you avoid mistakes.
Key benefits:
- Your working documents are linked to your end statements
- Your data is synchronised and statements available in two languages
- Full compliance with Latvian statutory requirements
- e-Filing System (EDS) loading functionality
Functions
- Connection to your chart of accounts
- Same data – two statements
- Accounting for adjustments
- EDS upload option
- Updates to the system according to the latest legislative changes
Connection to your chart of accounts
Transferring data from your last general ledgers to the form will substantially fill in PwC’s annual report tool.
Same data – two statements
You can prepare your annual report in two languages – Latvian and English.
Accounting for adjustments
When making reclassifications or other adjustments, the information will be available in your work file with an option to add your reasons for those adjustments.
EDS upload option
Once your annual report is approved, the tool will let you create a file for uploading on EDS to secure the input of nearly all the information that is required for preparing and filing reports with the State Revenue Service.
Updates to the system according to the latest legislative changes
The main statements (balance sheet, profit & loss account, and cash flow statement) are implemented in the tool and the explanations prepared by PwC experts are based on the latest changes to Latvian law.
Cost
Our service fee is EUR 2,500–3,000 excluding VAT (the cost depends on the complexity of implementation).
This service includes:
- Preparing an annual report tool tailored to your company
- Instructions for making changes and setting up a new year
- An updated report form meeting Latvian statutory requirements
Additional free services during the first year of use:
- EDS loading support – sections corresponding to your company report will be inserted in the form and linked to your chart of accounts based on your working documents from past years.
The annual report preparation tool ensures fast and accurate preparation of your financial statements
Convenient and automatic creation of financial statements
User-friendly environment and easy-to-understand information
Reduced likelihood of human error
The tool is especially convenient for group companies with a similar structure
Sazinieties ar mums
Artis Vizbelis
PwC senior consultant, tax reporting, accounting and strategy, PwC Latvia
Tel: +371 67094400
