New! Pats.lv is now available for micro-enterprise owners in the “SIA” format!

Are you the owner of a micro-enterprise operating as a “SIA” (limited liability company) and looking for a way to manage your accounting independently, simply, and conveniently? Great news —Pats.lv accounting system is now available not only for self-employed individuals, micro-enterprise taxpayers, and individual entrepreneurs, but also for owners of micro-enterprises in the “SIA” format!

How does Pats.lv work for micro-enterprises?

It’s very straightforward! Register on Pats.lv and enter your company details. Pats.lv will automatically retrieve your business's tax information from the Enterprise Register and the State Revenue Service. Once this is done, input your company's income and expense data — Pats.lv will use this information to automatically calculate taxes and prepare the required reports and declarations.

What features does Pats.lv offer for micro-enterprises?

Similar to self-employed users, owners of micro-enterprises in the “SIA” format can access features designed for easy and efficient bookkeeping:

• Transaction tracking: Enter details of your income, expenses, and other accounting documents in just a few simple steps.
• Invoices: Quickly and easily create invoices and send them to clients.
• Online payments: Generate payment links or QR codes in the system, send them to clients, and the system will automatically register income once the payment is received.
• Receipt scanning: A convenient way to log expenses — simply photograph receipts and upload them to Pats.lv. The system will extract all necessary information and automatically create a journal entry.
• Bank account integration:Connect your Pats.lv profile to one or more bank accounts for instant access to transactions and quick registration within the system.

What reports and declarations can you prepare?

To make it easy for you to create and store your financial reports in one place, Pats.lv provides access to various reports needed by micro-enterprises. By entering company and transaction data, you can draft:

• a corporate income tax declaration (UIN);
• a value-added tax (VAT) declaration;
• a profit and loss statement;
• a balance sheet;
• an annual report.

Let Pats.lv take care of your accounting so you can focus on growing your business!

Register on Pats.lv for your SIA and enjoy the first 3 months of the service for free!

*Important to note:

• The Pats.lv system is intended for micro-companies that do not exceed 2 of the 3 thresholds mentioned below on the balance sheet date:
  • balance sheet total – 63,000 EUR
  • net turnover – 125,000 EUR
  • average number of employees in the reporting period – 5
• The company manager is entitled to keep his own accounting if he is the only member of the board of the LLC who is also the only shareholder of the LLC.
• The Pats.lv system is not intended for associations and foundations