Professional Monthly Bookkeeping & Clean-Up Services in Georgia

Daily Transaction Posting, Bank Reconciliation, AR/AP Management & Year-End Clean-Up for Perfect RS.ge Compliance

Accurate bookkeeping forms the foundation of every successful business. It's not just about recording transactions—it's about creating a reliable financial system that supports smart decisions, ensures tax compliance, and stands up to scrutiny from the Revenue Service, banks, investors, and auditors.

 

Whether you need ongoing monthly bookkeeping to keep your records current or a complete clean-up to fix accumulated errors and bring your books into compliance, our professional bookkeeping services provide the accuracy, organization, and peace of mind your business deserves.

Why Professional Bookkeeping Matters

Many business owners underestimate the importance of proper bookkeeping until problems emerge—during tax filing, audit requests, financing applications, or when making critical business decisions based on unreliable data.

Tax Compliance Foundation: Every tax declaration you submit to the Revenue Service must be supported by accurate bookkeeping records. VAT returns, corporate income tax calculations, payroll tax filings, and SARAS financial statements all depend on clean, organized books.

Informed Decision Making: How can you make smart business decisions without knowing your true financial position? Accurate bookkeeping reveals actual profitability, cash flow patterns, customer payment trends, and expense patterns that guide strategy.

Audit Readiness: When the Revenue Service requests documentation during an audit, your bookkeeping records must tell a clear, consistent story. Poor records lead to disputed adjustments, additional tax assessments, and prolonged investigations.

Business Valuation: Whether seeking financing, attracting investors, or preparing for sale, clean bookkeeping records directly impact how your business is valued. Messy books reduce valuations or can kill deals entirely.

Cash Flow Management: Proper accounts receivable and accounts payable tracking ensures you know who owes you money, what you owe others, and when payments are due—critical for managing working capital.

Legal Protection: Organized financial records protect you in disputes with customers, suppliers, employees, or regulatory authorities.

Our Comprehensive Bookkeeping Services

We provide complete bookkeeping solutions from daily transaction posting to comprehensive year-end clean-up, ensuring your financial records are accurate, current, and compliant.

Daily Transaction Posting

Every business transaction must be recorded properly in your accounting system. We handle all transaction posting with accuracy and timeliness.

Sales and Revenue Recording

We post all sales transactions including:

• Invoice generation and recording
• Cash sales documentation
• Service revenue recognition
• Product sales with proper inventory tracking
• Multiple revenue streams and departments
• Foreign currency transactions converted to GEL

Expense Recording

Every business expense is captured and categorized:

• Supplier invoices and bills
• Operating expenses (rent, utilities, communications)
• Office supplies and equipment
• Professional services (legal, accounting, consulting)
• Marketing and advertising costs
• Travel and entertainment expenses
• Bank charges and fees
• Employee expenses and reimbursements

Chart of Accounts Management

We establish and maintain a properly structured chart of accounts that:

• Aligns with Georgian accounting standards
• Supports accurate tax reporting
• Provides meaningful financial analysis
• Facilitates SARAS reporting requirements
• Enables budget tracking and comparison
• Separates departments or profit centers when needed

Transaction Documentation

We maintain complete digital records of all supporting documentation:

• Scanned invoices and receipts
• Bank statements and payment confirmations
• Contracts and agreements
• Tax documents and certificates
• Correspondence related to transactions

Proper documentation ensures audit readiness and provides the evidence needed to support all recorded transactions.

Bank Reconciliation

Monthly bank reconciliation is essential for ensuring your accounting records accurately reflect actual cash position.

What Bank Reconciliation Involves

We reconcile all business bank accounts monthly by:

Matching Transactions: Comparing every bank statement entry with recorded transactions in your accounting system.

Identifying Discrepancies: Finding and investigating differences between bank records and accounting records, including:

• Timing differences (checks not yet cleared, deposits in transit)
• Bank charges not yet recorded
• Interest earned
• Errors in recording amounts
• Unauthorized transactions
• Duplicate entries

Adjusting Records: Making necessary corrections to ensure your books accurately reflect bank balances.

Month-End Verification: Confirming that reconciled bank balances match bank statements exactly at month-end.

Why Reconciliation Matters

• Detects fraud and unauthorized transactions quickly
• Identifies bank errors that need correction
• Reveals recording mistakes before they compound
• Ensures accurate cash position reporting
• Provides confidence in financial statement accuracy
• Required by auditors and often by banks for loan covenants

Multi-Account Reconciliation

For businesses with multiple accounts (operating accounts, payroll accounts, foreign currency accounts, savings accounts), we reconcile all accounts monthly and track cash positions across your entire banking structure.

Accounts Receivable (AR) Management

Effective AR management ensures you collect payments owed and maintain healthy cash flow.

Invoice Tracking

We maintain complete records of all customer invoices:

• Invoice dates and amounts
• Payment terms and due dates
• Aging analysis (current, 30, 60, 90+ days overdue)
• Customer payment history
• Outstanding balances by customer

Payment Application

As customers pay, we:

• Record payments accurately
• Apply payments to specific invoices
• Track partial payments
• Maintain running customer balances
• Generate payment receipts

Aging Reports

Regular AR aging reports show:

• Which customers owe money
• How long invoices have been outstanding
• Payment trends and patterns
• Customers requiring follow-up
• Collection priorities

Collection Support

While we don't directly collect from customers, our AR reporting provides the information you need for effective collections:

• Automated reminder notices when appropriate
• Past due customer lists
• Payment history analysis
• Documentation for collection efforts

Revenue Recognition

For businesses with complex revenue recognition requirements (subscriptions, long-term contracts, advance payments), we ensure revenue is recorded correctly according to Georgian accounting standards and IFRS principles.

Accounts Payable (AP) Management

Proper AP management ensures you pay suppliers on time, maintain good vendor relationships, and optimize cash flow.

Vendor Invoice Processing

We handle all supplier invoices:

• Receipt and verification against purchase orders
• Three-way matching (PO, receiving, invoice)
• Coding to proper expense categories
• Entry into accounting system
• Flagging discrepancies for resolution

Payment Scheduling

We track payment due dates and help you:

• Avoid late payment penalties
• Optimize payment timing for cash flow
• Take advantage of early payment discounts when beneficial
• Prioritize payments based on importance and urgency

Vendor Account Management

We maintain accurate records for each supplier:

• Current balances owed
• Payment history
• Payment terms
• Contact information
• Tax documentation (for VAT and withholding purposes)

AP Aging Reports

Regular AP aging shows:

• Amounts due to each vendor
• Payment due dates
• Past due amounts requiring immediate payment
• Upcoming payment obligations
• Cash requirements for next 30/60/90 days

Expense Analysis

AP data enables analysis of:

• Spending by category
• Vendor concentration
• Seasonal expense patterns
• Budget vs. actual comparisons
• Cost reduction opportunities

Monthly Financial Close

At the end of each month, we perform a complete accounting close to ensure accurate, timely financial reporting.

Close Process Includes:

Transaction Cut-off: Ensuring all transactions are recorded in the correct period.

Accrual Entries: Recording accrued expenses and revenues that don't yet have invoices but belong to the period.

Prepayment Adjustments: Properly allocating prepaid expenses and deferred revenue across accounting periods.

Depreciation: Calculating and recording monthly depreciation on fixed assets.

Inventory Adjustments: For businesses holding inventory, recording cost of goods sold and inventory values.

Inter-company Eliminations: For businesses with multiple entities, eliminating inter-company transactions.

Account Reconciliation: Reconciling all major balance sheet accounts beyond just bank accounts.

Variance Review: Investigating unusual account balances or unexpected changes.

Financial Statements: Generating accurate monthly P&L, balance sheet, and cash flow statements.

Management Reports: Creating customized reports for business decision-making.

The monthly close typically takes 5-7 business days after month-end, providing you with reliable financial information while it's still relevant for decision-making.

Year-End Clean-Up Services

Many businesses come to us with bookkeeping that's fallen behind or accumulated errors over time. Our year-end clean-up service brings your books to perfect compliance for tax filing and SARAS reporting.

What Clean-Up Involves

Transaction Review: We review every transaction recorded during the year, verifying:

• Proper categorization
• Correct amounts
• Appropriate timing
• Complete documentation
• VAT treatment accuracy

Missing Transaction Identification: We identify transactions that occurred but weren't recorded by:

• Comparing bank statements with recorded transactions
• Reviewing all invoices and receipts provided
• Checking for gaps in invoice numbering sequences
• Verifying all bank transfers and payments

Error Correction: We fix mistakes including:

• Duplicate entries
• Incorrect amounts
• Wrong account classifications
• Timing errors (wrong month/year)
• Missing or incorrect VAT calculations
• Reversed or backwards entries

Bank Reconciliation Catch-Up: We reconcile all bank accounts for every month of the year, identifying and resolving all discrepancies.

AR/AP Cleanup: We clean up customer and vendor balances:

• Reconciling statements with recorded balances
• Identifying unpaid invoices
• Clearing old, settled items
• Resolving discrepancies
• Adjusting for bad debts when necessary

Asset Register Update: We verify and update fixed asset records:

• Confirming all assets are recorded
• Checking depreciation calculations
• Recording disposals
• Correcting cost and accumulated depreciation figures

Tax Account Reconciliation: We ensure tax liability accounts accurately reflect what's been declared and paid:

• VAT payable/receivable
• Income tax withholding
• Pension contributions
• Corporate income tax
• Comparing recorded amounts with actual RS.ge filings

Financial Statement Preparation: After cleanup, we prepare accurate year-end financial statements ready for:

• Tax filing
• SARAS submission
• Audit (if required)
• Bank presentations
• Investor reporting

Documentation Organization: We organize all supporting documents by month and category, creating a complete audit trail.

Timeline for Clean-Up

Depending on transaction volume and extent of issues:

• Simple cleanup (minor errors, mostly current): 1-2 weeks
• Moderate cleanup (several months behind, some errors): 2-4 weeks
• Comprehensive cleanup (year+ behind, significant errors): 4-8 weeks

We provide a timeline after assessing your specific situation.

Compliance-Focused Bookkeeping

Our bookkeeping is specifically structured to support Georgian tax compliance requirements.

VAT-Ready Records

We maintain books that make VAT filing simple and accurate:

• Separate tracking of VAT-inclusive and VAT-exclusive transactions
• Proper categorization of 18% standard rate, 0% rate, and exempt items
• Clear identification of input VAT that can be reclaimed
• Reverse-charge VAT tracking for foreign service purchases
• Complete documentation supporting all VAT positions

CIT-Ready Records

Under Georgia's Estonian model, we track:

• Retained earnings available for distribution
• Profit distributions triggering CIT
• Non-deductible expenses
• Related party transactions
• Documentation supporting business purpose of expenses

Payroll Tax Integration

Payroll transactions are recorded correctly:

• Gross salary expenses
• Income tax withheld
• Employee and employer pension contributions
• Net salary paid
• All amounts reconcile with monthly payroll tax filings

SARAS-Ready Books

Throughout the year, we maintain records that feed directly into SARAS reporting:

• IFRS-compliant transaction classification
• Proper revenue recognition
• Appropriate expense matching
• Accurate asset and liability tracking
• Notes and disclosures prepared as issues arise

Audit-Ready Documentation

Every transaction is supported by:

• Original source documents (invoices, receipts, contracts)
• Clear audit trail from source to financial statement
• Explanatory notes for unusual transactions
• Proper authorization documentation
• Organized filing for easy retrieval

Bookkeeping Software & Systems

We work with all major accounting software platforms and can help you choose the right solution.

Software We Support:

• QuickBooks Online: Popular internationally, good for small to medium businesses
• Xero: Cloud-based, excellent for businesses with international operations
• Georgian Accounting Software: Local solutions designed for Georgian tax compliance
• Custom ERP Systems: For larger businesses with complex requirements
• Excel-Based Systems: For very small businesses, though we recommend upgrading to proper software

Cloud vs. Desktop

We strongly recommend cloud-based accounting systems because they offer:

• Real-time access from anywhere
• Automatic backups
• Multi-user access with permissions
• Bank feed integration
• Mobile app access
• Lower IT maintenance
• Easier collaboration with accountants

System Setup & Training

If you don't have accounting software or need to upgrade, we:

• Recommend appropriate software for your business
• Handle complete setup including chart of accounts
• Configure bank feeds and automation
• Import historical data when upgrading systems
• Train you or your team on basic usage
• Provide ongoing support

Monthly Bookkeeping Process

Here's how our monthly bookkeeping service works:

Week 1 (1st-7th):

• Receive and organize source documents from previous month
• Download bank statements
• Begin transaction entry and categorization

Week 2 (8th-14th):

• Complete transaction posting
• Perform bank reconciliations
• Update AR/AP aging
• Record adjusting entries

Week 3 (15th-21st):

• Complete month-end close
• Generate financial statements
• Prepare management reports
• Review for unusual items or errors

Week 4 (22nd-28th):

• Deliver financial reports to you
• Review reports and discuss any questions
• Provide insights and recommendations
• Prepare any needed tax declarations

Ongoing:

• Answer questions about transactions or reports
• Assist with vendor or customer inquiries
• Support management decisions with financial data
• Monitor compliance deadlines

What We Need From You

To provide excellent bookkeeping, we need your cooperation on a few key items:

Monthly Document Submission:

• All sales invoices issued
• All purchase invoices and receipts received
• Bank statements (or digital banking access)
• Payroll information
• Any contracts, agreements, or unusual transaction documentation
• Credit card statements if business cards are used

Timely Submission: Documents submitted by the 5th of the month allow us to complete bookkeeping by mid-month, providing you current financial information for decision-making.

Clear Communication: When unusual transactions occur or you're unsure about proper documentation, communicate with us early so we can guide you correctly.

Organized Records: Basic organization (chronological, by vendor, etc.) helps us work efficiently, though we can work with any state of organization you're able to provide.

Benefits of Professional Monthly Bookkeeping

Always Current: Your financial information is never more than a few weeks old, allowing real-time decision-making.

Error Prevention: Professional bookkeepers catch and prevent errors before they become problems.

Tax Readiness: Tax filing becomes simple when bookkeeping is current—no year-end scrambles or surprises.

Better Cash Flow: Regular AR/AP management helps you collect faster and optimize payment timing.

Time Savings: Business owners save 10-20 hours monthly by outsourcing bookkeeping.

Scalable: As your business grows, professional bookkeeping scales seamlessly without hiring staff.

Expertise Access: Questions about transaction treatment, documentation, or processes get expert answers immediately.

Audit Protection: If audited, organized books and proper documentation protect you from disputed adjustments.

Common Bookkeeping Problems We Solve

Backlog Bookkeeping: Fallen months or even years behind? We catch you up completely.

Recurring Errors: Same mistakes happening repeatedly? We identify root causes and implement fixes.

Poor Categorization: Transactions in wrong accounts making reports meaningless? We reclassify correctly and establish clear guidelines.

Missing Transactions: Bank statement doesn't match books? We find and record every missing entry.

Reconciliation Issues: Haven't reconciled in months? We work backwards month by month to get current.

VAT Nightmares: Can't figure out input VAT vs. output VAT? We untangle everything and set up proper tracking.

No Documentation: Lost receipts or incomplete records? We work with what's available and implement systems to prevent future issues.

Multiple Systems: Using different software for different purposes? We consolidate into a single, coherent system.

DIY Disasters: Tried handling it yourself but it's a mess? We fix everything without judgment and get you on track.

Year-End Clean-Up Case Study

Client Situation: A Tbilisi-based IT services company with 8 employees hadn't maintained proper books for 18 months. SARAS deadline was approaching, they needed financial statements for a bank loan, and they feared Revenue Service audit.

What We Found:

• 18 months of unreconciled bank statements
• Approximately 60% of transactions never recorded
• Foreign contractor payments with no reverse-charge VAT declared
• Employee salary expenses recorded incorrectly
• No depreciation on computers and equipment
• Duplicate entries for several large transactions
• VAT paid but not properly tracked for potential recovery

Clean-Up Process (6 weeks):

• Week 1-2: Gathered all bank statements, invoices, receipts, contracts
• Week 2-3: Recorded all missing transactions
• Week 3-4: Reconciled all bank accounts for all 18 months
• Week 4-5: Fixed all errors, calculated depreciation, cleaned AR/AP
• Week 5-6: Prepared compliant financial statements, filed SARAS report

Results:

• Discovered 12,000 GEL in unclaimed input VAT
• Identified 8,500 GEL in unpaid customer invoices to collect
• Prepared clean financials that secured bank loan
• Filed SARAS report before deadline
• Established ongoing monthly bookkeeping to prevent future issues
• Revenue Service audit happened 6 months later—books were perfect, audit closed with no issues

Why Choose Our Bookkeeping Services?

Georgian Compliance Expertise: We understand Georgian accounting standards, Revenue Service requirements, and SARAS reporting—your books are structured correctly from day one.

Accuracy Guarantee: We stand behind our work. If we make an error, we correct it immediately at no charge.

Responsive Communication: Questions get answered same-day, issues are addressed immediately, and you always know your financial position.

Scalable Service: From startup to established enterprise, our bookkeeping scales with your business growth.

Technology-Enabled: Modern software and cloud-based systems provide efficiency, security, and accessibility.

Complete Documentation: Every transaction is supported by proper documentation, creating a complete audit trail.

Proactive Insights: We don't just record transactions—we identify trends, flag issues, and provide recommendations.

Integration with Tax Services: Bookkeeping feeds directly into tax compliance, creating seamless, efficient service.

Pricing

Our bookkeeping services are priced based on monthly transaction volume and complexity:

Micro Business Package: Up to 50 transactions monthly. Ideal for very small businesses or startups.

Small Business Package: 51-150 transactions monthly. Perfect for most small businesses.

Medium Business Package: 151-300 transactions monthly. For established businesses with moderate activity.

Enterprise Package: 300+ transactions monthly. For businesses with high volumes or complex operations.

Year-End Clean-Up: Quoted based on scope after reviewing your situation. Most clean-ups range from 1-3 months of regular bookkeeping fees depending on complexity.

Add-On Services:

• Multi-entity bookkeeping
• Inventory management
• Fixed asset registers
• Project accounting
• Budget preparation
• Cash flow forecasting

Contact us for a customized quote based on your specific needs.

Getting Started

Step 1: Free Assessment

Contact us to discuss your bookkeeping needs. We'll assess your current situation, transaction volume, and any special requirements.

Step 2: Proposal

We provide a clear proposal outlining services, deliverables, timeline, and transparent pricing.

Step 3: Onboarding

Once engaged, we:

• Set up or access your accounting software
• Establish document submission procedures
• Review any existing records
• Create your chart of accounts or optimize existing structure

Step 4: First Month Processing

We complete your first month's bookkeeping with extra review to ensure everything is perfect and establish baseline processes.

Step 5: Ongoing Service

Month after month, we keep your books accurate, current, and compliant while you focus on growing your business.

Transform Your Bookkeeping Today

Stop struggling with messy records, missing transactions, and unreliable financial information. Professional bookkeeping provides the accurate, organized financial foundation your business needs for tax compliance, smart decisions, and sustainable growth.

Whether you need ongoing monthly bookkeeping to stay current or comprehensive clean-up to fix accumulated problems, our experienced team provides the expertise, accuracy, and reliability your business deserves.

 

Ready to get your books in perfect order? Contact us today for a free assessment. We'll review your current bookkeeping situation, identify any issues, and show you exactly how our services can provide the accurate, compliant financial records your business needs. Let us handle the details while you focus on what you do best—running and growing your business.

Professional bookkeeping and clean-up services in Tbilisi and throughout Georgia. Daily transaction posting, bank reconciliation, AR/AP management, and year-end clean-up from experienced accountants who ensure your books are accurate, compliant, and ready for RS.ge tax filing and SARAS reporting.