Frequently asked questions

Accounting services

  • You will avoid additional costs of creating and maintaining a workplace (furniture, computer, accounting software, etc.). You can dedicate yourself fully to your main business.
  • Avoid various other troubles related to hired employees: illness, leave, training, motivation, control of work, etc. 
  • At a significantly lower price compared to hiring an employee, you will receive a package of services tailored to your individual business needs with a full team of qualified, closely mutually cooperating accounting specialists.
  • The price of accounting services is determined according to the company’s operating documents and is not fixed, as in the case with a hired employee, this, when there is less work, the price of our services also decreases.
  • We work according to the signed service agreement, therefore, as an accounting company, we take full responsibility for the correctness of the services provided according to the primary documents you present. Also, when hiring an accountant, the manager inevitably has to control his work and take responsibility in the event of a problem. Meanwhile, for the unlikely case of a human error, Finorder is covered by civil liability insurance.
  • Unlike most hired accountants, we have experience working with different types of companies and software.

  • The modern pace of life and massive information flows facilitate the need to achieve the result in the minimum time span and with the highest efficiency. The field of financial accounting is no exception. Productive accounting software allows to import and process data in just a few seconds, generating the required tax, reporting or statistics.
  • By saving your time and energy, we accept documents in electronic format – scanned, photographed. 
  • For maximum efficiency, Finorder tax, statistical, financial accounting reports are provided only in electronic format.
  • We work with financial accounting programs Centas, Optimum, Agnum – depending on the nature and needs of your business.

  • We keep records on the basis of the documents you provide: we account for purchases (summary accounting without warehouse records) and sales accounts (summary accounting), enter bank transactions, cash income and expense orders.
  • Purchase (total accounting, without warehouse accounting) and sales invoice accounting (total accounting) according to the documents you submit to us 
  • Accounting of cash receipts and expense orders based on documents received (we register them in the respective accounting registers)
  • Registration of transactions in the relevant accounting registers according to the bank statement submitted
  • Monthly depreciation of fixed assets
  • We register advance invoices and business trips according to the data and invoices provided by you
  • Payroll 
  • Accounting and declaration of all compulsory to the VMI, Sodra; reporting to the Statistics Department
  • Preparation, reconciliation and submission of annual financial statements (balance sheet, profit and loss statement, statement of changes in capital, explanatory note) to the Centre of Registers
  • We also provide the following additional services:
  • Warehouse accounting in units – we record purchases, write off cost according to sales, prepare data for annual inventory, write off losses, etc.
  • We prepare interim reports – for banks, leasing companies and others;
  • Filling in applications for banks, leasing companies and others
  • Preparation of reports according to your specific needs – for debt review, budget planning, etc.
  • Debt settlement with your buyers and suppliers
  • Other consultations on tax, accounting, business issues

Review the offered Finorder service plans and click “get an offer”. We will contact you shortly to discuss document flows and find the most flexible option that best suits your needs.

One Finorder employee will be appointed to be responsible for the accounting of your company and he will keep in touch with you directly if you have any questions or simply to inform about the calculated and payable payrolls and tax amounts. In case of his illness or vacation, we have a full team of specialists and your company will never be left without accounting services.

We always try to answer inquiries on the same day. If the issue is complex or requires more time to find out – we will agree about the term with you.

We aim to train new employees and provide them with all the information so that the accounting process runs seamlessly and you do not experience any problems with the changes. The professional team of Finorder employees share their expertise, replace each other and support each other, therefore, in case of employee replacement, we can guarantee the continuity of processes.

At Finorder, we keep the accounting documents of the current and previous year, and return the documents of the previous year, archived and complete with the printed registers, to you at the end of the calendar year by September of the next year.

The price of accounting services varies depending on the number of primary documents and the number of employees working in your company per month. After evaluating the scope of your company’s activities, a fixed price option is also possible. We are flexible, and various solutions are possible by mutual arrangement. 

Finorder is aware of the importance of the confidentiality of the Client’s data, therefore, the accounting services agreement includes the obligation to properly protect the intercepted confidential information of the customer. The company complies with the strict confidentiality policy and control.

The accounting policy must be in place for all legal entities, all institutions and even self-employed persons with a certificate of individual activity or a business license. According to the Republic of Lithuania Law on Accounting, the head of the company is responsible and must select and implement the accounting policy.

It depends on the legal form of the company. The accounting of the UAB must be managed by an accountant or an accounting service company. The accounting of MB and IĮ may be managed by a member of the MB or the owner of the IĮ, if the competence of the person managing accounting is sufficient to perform this responsible work.

LEGAL SERVICES

The first and foremost decision on the path of your new business is choosing a company name. The name must be original and must not coincide with the already registered names and trademarks of legal entities. It is important that the name is clear, easy to pronounce and write, in which case you will avoid many additional explanations of your name to partners and customers.

MOBILE ELECTRONIC SIGNATURE (mobile signature) is an electronic equivalent of a regular signature and an identity document (e.g. passport), which enables secure signing of electronic documents with a legally valid signature when logging into online information systems (banks, Sodra, VMI, centre registers, Regitra state enterprise, etc.). When using mobile signature, you won’t have to waste your time going and waiting in institutions. Instead, you will perform everything with just a few clicks on your mobile phone. You can order this service by visiting any branch of your mobile operator. 

To choose the most appropriate legal form, consider the following criteria: the number of participants in your new company, the amount of the minimum authorised capital, responsibilities (the company is responsible to the extent of its assets or the owner is liable with its own assets), how the company’s accounting will be managed (by the company’s accountant or remotely, or by hiring an accounting company or an accountant) If you have questions about the most appropriate legal form, we will help you make the most appropriate decision.

You can register for VAT purposes as soon as you start a business or at any other time when you decide it is necessary. The obligation to become a VAT payer only arises when you reach a certain amount of income, in other cases you can choose whether and when you want to become a VAT payer.

Becoming a VAT payer is mandatory in the following two cases: if the total amount of remuneration for goods and/or services supplied in the course of economic activity in the territory of the country exceeds EUR 45,000 per year (last 12 months); if the value of goods purchased by a taxable person of the Republic of Lithuania from other Member States in the previous calendar year exceeded EUR 14 000 or in the current calendar year it is envisaged to exceed this threshold. Otherwise, a company is not required to become a VAT payer, but may voluntarily become it if it is compatible with your company’s activities.

If the company is being set up, you can start operating immediately after receiving the confirmation of the Centre of Registers about the registration of the company and the provided company code. If you are buying a shelf company, you can start your activities after the Centre of Registers has registered the changes of the shareholder and the director.

If you are not sure what to choose – UAB or MB, consider the main differences between UAB and MB: 1. The number of participants in the activities of UAB is unlimited, it can be both natural and legal persons. MB participants can include up to 10 persons and only natural persons. 2. The minimum authorised capital of UAB is 2500 EUR, MB can be provided a monetary and non-monetary contribution of the desired size. 3. The accounting of UAB must be managed by an accountant or a company engaged in accounting activities, MB accounting may be managed by its member. 4. MB members can work in the community without entering an employment contract (thus saving significant payroll tax costs), UAB can only operate under employment contracts.

The absence of the necessary authorised capital should not become an obstacle for you to start a business. Buying a business is the best way to start a business right away, even if you don’t have any authorised capital. In the case of a shelf company purchase, you get a new, dormant, non-obligated company with which you can carry out the activities you want. You can acquire the company with our name, but if you want to choose the name yourself – we will set up the company with your preferred name, form the authorised capital and then acquire it.

It takes 2 working days to start a new company. When establishing a company electronically, the name reservation is confirmed within 1 working day. The registration of the company, which is only possible after the name has been approved and temporarily entered in the register, then takes another 1 working day.

When buying a shelf company – 1 working day. We will coordinate with you all the necessary data and documents and book time for the notary.

Notary documents will be handled by Finorder law specialists. When buying a shelf company, you will be advised in advance what documents you have submit to a notary. After preparing the contracts, which are then notarised, you will be made familiar with the documents and their content, and if necessary, corrections will be made. Upon arrival at the notary, all you have to do is to sign the documents prepared in advance.

Under current legislation, companies are not required to use a stamp in their operations, unless otherwise specified in the memorandum of association. This means that if you set up a business electronically, your documents of incorporation will not include the requirement to use the stamp. Despite the absence of such requirement, you can choose whether to use a stamp or not. Should you decide to use the stamp, we will help you to acquire it.

Every company needs an official registration address. You can provide it yourself if you are the owner of your property. Otherwise, you can rent a registration address. If you have your own real estate, you can register a new company in it. It is important to consider whether the official owner of the property is you or other persons, too. All persons who are the owners of that property will be required to electronically sign a consent to provide premises for the company’s registered office. Therefore, if you own the real estate under the right of personal property – you will be the only one who has to sign the consent, but if it is joint or communal co-ownership, every property co-owner will have to sign it.

Finorder offers very favourable conditions for a quick and cost-effective acquisition of a shelf company. Acquiring a business is a very attractive alternative for those who want to save time. Moreover, setting up a new business often requires significant funds for the company’s authorised capital, and this can be avoided when buying a business. Finorder offers you to acquire a shelf company – a dormant company with primary accounting documentation, a registration address, a stamp and a bank account. Our experience shows that buying a company that has already been established is the best way to start your business in the shortest possible time.

Yes, a foreign natural or legal person has the right to acquire a company registered in Lithuania. Depending on the legal form of the company you want to acquire, we will prepare documents and inform you what additional documents are required to complete the company’s purchase transaction.