Why Do Companies Choose Finanšu Vadības Birojs?
Companies choose Finanšu Vadības Birojs because we combine professional accounting expertise with practical experience working with Odoo ERP. We understand not only Latvian accounting and tax requirements but also how Odoo works. This enables us to connect a company’s daily operations with accurate financial accounting.
We cooperate with any Odoo implementation partner selected by the client and do not restrict companies to a specific service provider. Our objective is to ensure that the system configuration supports the accounting processes and that the Odoo data is accurate, traceable, and useful for both day-to-day operations and management decision-making.
We see Odoo as an integrated business management platform where sales, purchasing, inventory, and financial accounting operate within a single system. We therefore help organize processes so that information between company departments flows automatically and accounting receives high-quality data without unnecessary manual work.
Our approach is practical - we look for solutions rather than reasons why something cannot be done. Odoo offers extensive customization options, and clearly defined business requirements make it possible to create a solution that meets both the company’s needs and Latvian regulatory requirements. As a result, the company gains a reliable accounting partner who helps unlock Odoo’s full potential and establishes a stable foundation for effective financial management.
Frequently Asked Questions (FAQ)
The lack of full Latvian localization in the standard version of Odoo is not an obstacle to implementing the system. Odoo is designed to be adapted to each country’s accounting and tax requirements.
Companies generally do not need to make these adjustments themselves, as they are handled by an Odoo implementation partner. The partner configures the Latvian chart of accounts, VAT rates, tax settings, financial reports, and other required features. A phased implementation makes the transition to Odoo easier. Existing data—such as customers, suppliers, products, and opening balances—can be imported during implementation, so there is no need to start from scratch.
With properly configured localization and professional implementation, Latvian companies can use Odoo to its full potential while retaining the flexibility to expand the system with additional business features in the future.
Accounting services start from EUR 220 per month, excluding VAT. However, the final fee is determined individually based on the number of documents and bank transactions, number of employees, VAT status, international transactions, inventory accounting, and other business processes. After reviewing the initial information, we provide a proposal with a clearly defined monthly fee and pricing for additional services.
No, Finanšu Vadības Birojs provides full-cycle accounting services, including document processing, payroll, tax returns, payment monitoring, annual financial statements, and communication with the Latvian State Revenue Service (VID), as well as consulting on the Odoo system and its practical application.
Initially required:
- company registration data,
- information about the type of activity,
- employees,
- tax status,
- bank accounts,
- the systems used before takeover.
In the case of accounting takeover, additional data from previous periods, account balances, declarations, contracts, and supporting documents are required. A precise list of documents will be sent after the initial conversation.
Yes, we organise the handover of data and documents, check opening balances and identify discrepancies or missing information. If corrections to previous periods are required, we agree the scope of work and costs separately.
Yes. We also provide consultations on:
- tax application,
- cash flow,
- budgets,
- cost control,
- pricing,
- company financial indicators.
Consultations can be received either as a separate service or within the framework of regular cooperation.
No, Finanšu Vadības Birojs does not perform Odoo system implementation or technical configuration. These services are provided by certified Odoo implementation partners.
Our role is to represent the client’s interests from an accounting and financial management perspective. During implementation, we advise on accounting records, financial processes, and Latvian regulatory requirements to ensure that the Odoo configuration meets the company’s needs.
After implementation, we can conduct an Odoo functionality audit to assess whether the system’s processes, configuration, and financial data align with the company’s business model and provide effective financial management. If any improvements are needed, we prepare recommendations for the selected Odoo implementation partner to implement.
Document circulation occurs digitally, in the accounting system, via email, or in a shared data environment. At the start of the collaboration, we agree with the client on the deadlines for document submission, responsible persons, and communication procedures to ensure the process is transparent and controllable.
No, not only. We collaborate with limited liability companies and other legal entities, as well as with individual entrepreneurs, self-employed individuals, and other economic operators. We assess the service options according to the type of activity and the volume of records.
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