Always be ready to submit your self-employment reports!

4 features to implement to make preparing your next report take less time:

1. Connect your bank account. If most or all of your transactions go through a bank account used for your business activities, this feature will significantly reduce the time needed to record transactions. Just a few clicks - and all transactions will automatically appear in your accounting journal. Remember: it’s best to have a separate bank account and card for your business needs.

2. Upload photos of receipts and invoices. No more writing out transaction data by hand or risking that receipts fade before you enter the details - rely on the accuracy of pats.lv! The expense category is also assigned automatically - check, confirm, and you’re done!

3. Issue invoices in pats.lv. Enter your services, products, and partners once, and the data will automatically appear in every new invoice. The payment status updates automatically. If your profile is linked to your bank account, the incoming payment is matched with the transaction and automatically appears in your journal. Everything is connected - there’s nothing to worry about!

4. Use a QR code or link to receive payments. If you provide services in person, this solution allows you to receive payment instantly. Create a catalogue of your services in advance, show your client a QR code or send them a link, and the payment - with all the necessary transaction details - will immediately appear in your accounting records.

If your business uses fixed assets or employs staff, the following features will be useful:

1. Fixed asset card. Create a card for the asset - depreciation will be calculated automatically.

2. Payroll module. Automatic calculation of salaries, taxes, and preparation of employee reports.

A few things you should always keep an eye on yourself:

• Deadlines: never miss them - simply set automatic reminders in your profile.
• Expense deduction rules: follow them. To make it easier, keep up with our tips on social media.
• Turnover and VAT payer status: monitor this - it has a major impact on accounting. In your profile, you can also set reminders if you need to register for VAT.
• Cash basis principle: record income when it is actually received, and expenses when they are actually incurred.

All these features are available both to self-employed persons and to limited liability companies (SIA).

If you haven’t yet registered on pats.lv, now is the perfect time - enter your income and expenses and let pats.lv automatically calculate your taxes and prepare your report!