VšĮ accounting

It is important to clearly distinguish activity and financing flows in the accounting of public institutions

The accounting process of a public institution depends on specific activities, sources of income, projects and other forms of financing. Therefore, the accounting structure must be adapted so that the different flows of money and expenses are clearly traceable.

Before starting to manage the accounting of a public company, we evaluate not only the amount of documents, but also the way the activity itself is organized.

What accounting processes can a public institution have?

• Accounting of purchase and sale documents.
• Registration of bank and other financial transactions.
• Accounting for different sources of funding or activities.
• Separation of projects and related costs.
• Payroll accounting.
• VAT accounting, when applicable.
• Closing of the financial year and preparation of reports.

Project accounting needs traceability

If a public institution carries out several projects or activities, it is important in accounting to be able to separate the income and expenses attributable to a specific project.

To do this, we coordinate the marking of documents and the information that the organization must provide together with the accounting documents from the beginning.

Employees and VAT depend on the actual activity of the public institution

If the institution has employees, payroll accounting is relevant. VAT issues are also assessed according to specific activities and transactions.

We describe the VAT accounting process in more detail on the page VAT accounting.

Closing of financial year

At the end of the year, the accounting must be completed, the main balances checked and the financial statements relevant to the institution prepared.

More about the year-end process can be found on the page preparation of financial statements.

How do we start the accounting management of VšĮ?

1. We evaluate the institution's activities and main sources of funding.
2. We coordinate the transfer of documents and design information.
3. We evaluate employees, VAT and other relevant processes.
4. We define the accounting and reporting structure.
5. We start periodic accounting.