Our Odoo Experience = Well-Organized Accounting for Your Business
Finanšu Vadības Birojs is a trusted partner for companies seeking well-organized accounting, transparent financial processes, and a clear understanding of their financial position. We work with businesses at various stages of development, from new and growing companies to established organizations with complex financial processes. Our approach is based not only on accurate figures but also on understanding each client’s business objectives. We know what good accounting should deliver, and we help achieve it in Odoo.
“For more than nine years, I have worked with Odoo accounting and financial processes on a daily basis - from system implementation and data migration to accounting reviews, financial reporting, and day-to-day support. This experience enables me not only to understand the system’s functionality, but also how Odoo should work in a real business and how its accounting should be adapted to Latvian accounting and tax requirements.”
What We Do
What We Solve for Our Clients
- Provide full-cycle outsourced accounting services in Odoo.
- Help companies organize their accounting in compliance with Latvian legislation.
- Work directly in the client’s Odoo system.
- Cooperate with the client’s chosen Odoo implementation or configuration partner.
- Define accounting, tax, and financial requirements for the technical partner.
- Verify whether the configured solution produces accurate accounting results.
- Accounting is managed in one system rather than separately in Excel or another program.
- Sales, purchasing, inventory, banking, and accounting operate as one integrated process.
- Accounts, VAT codes, journals, and posting logic are correctly configured.
- Errors in data migration and opening balances are resolved.
- Bank transactions, payments, and invoices are properly reconciled.
- Accurate data is available for tax returns and financial statements.
- Management has access to clear and up-to-date financial information.
- There is no need to replace the existing Odoo implementation partner.
We Support You
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.
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. 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.
Discover How We Can Help Your Business Today!
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