Accounting Services in Lithuania

Accounting Services in LithuaniaAccounting is an obligatory requirement in the conduct of activities on behalf of a Lithuanian company, the purpose of which is to keep records and obtain an overview of the economic results and financial situation of the company.

All companies and subsidiaries of foreign companies operating in Lithuania are subject to accounting. The accounting of each company must conform to government-established standards so that the results are comparable and comprehensible.

Accounting in Lithuania is regulated by the following legal acts:

The head of the company must approve the accounting policy of the company, taking into account the specific business environment, type of activity and application of the Accounting Standards. Accounting policies should include accounting policies and accounting policies of the organization and the preparation and presentation of financial statements.

All accounting records of the company must be supported by documents (invoices, cheques, accounting records, expenditure reports, etc.).

Accounting records are archived for 10 years. In order to prepare accurate financial statements, both the assets and the liabilities of the company must be inventoried at least once a year and at the latest at the end of the financial year before the financial statements are prepared.

Accounting service of companies without VAT number from 100 EUR / month
Accounting service of companies with VAT number from 150 EUR / month


The financial year starts from any month of the calendar year, but must have twelve consecutive months at the end of which the books of accounts are closed and the financial statements of the company are prepared. As a rule, in the vast majority of Lithuanian companies the financial year coincides with the calendar year.

​​Each company registered in Lithuania must submit an annual report to the Lithuanian Business Register within six months after the end of the financial year. The annual report must be prepared in Lithuanian in the official currency of Lithuania (Euro).

The annual report is mandatory for all companies registered in Lithuania, even if the company had no activity during the financial year. The deadline for submitting the annual report is six months after the end of the financial year of the company, so if the financial year of your company ends on 31 December, the deadline for submitting the report is 30 June of the following year.

All accounting must be completed before the annual report is prepared.

The annual report should include the following:

  • Management Report
  • Balance
  • Income statement
  • Cash flow report
  • Report on changes in capital
  • Notes to annual accounts
Annual report in the absence of activity 100 EUR
Annual report in the presence of activity 250 EUR

Company in Lithuania UAB provides accounting services to Lithuanian companies already with VAT number, as well as accounting services to companies without VAT number. We have a successful experience in different business segments and can offer our clients assistance in registering the VAT number in Lithuania, receiving the EORI number and preparing the annual report