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Financial and tax reporting in Georgia

Financial and tax reporting in Georgia is a convenient system for filing documents that meet modern international and European standards. Since 2000 several reforms have taken place in the country: first the government approved the standards of accounting and financial audit and afterward reduced the tax burden on citizens and companies. As a result, a clear procedure for reporting to the state authorities was introduced.

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Программы бухгалтерского учета в Грузии

Accounting programs in Georgia

Accounting has not been associated with a huge number of paper documents for a long time. All accounting has been transferred to electronic format. For accounting nowadays you will need only a computer and the correct accounting program. In this article, we will analyze the accounting programs in Georgia.

The task of accounting is to know exactly everything about the company, which can be evaluated and calculated. How much money is in the cash register, on the current account, how much goods are in the warehouse, in the store. How much the firm owes to its suppliers and vice versa. How much tax will have to be paid? In simple words – the accounting of everything in the company that can be counted in money and quantity. And all this data must be recorded and stored.

The accounting program should be chosen depending on the sphere of activity and volume of turnover. There are simple ones, which are suitable for micro-business and more progressive for companies with a large number of operations. The right program will help you to set the right settings and automate the processes of preparing and sending reports, maintaining documentation, tax optimization, etc. as much as possible.

What kind of accounting programs were used in Georgia before?

ORIS Accounting is the most popular accounting program in Georgia. ORIS includes everything you need for proper accounting:

  • The existing chart of accounts of Georgia with the right to change to any type of account of another structure, for example, the International Accounting Standard;
  • The ability to execute any multi-currency transaction or set of transactions, while calculating all necessary amounts or values at the same time. Each action will be recorded in the transaction log;
  • Automatic report generation. It is enough just to specify the time interval: year, quarter, month or any time interval from date to date, so the system can recalculate any required report for a given period: turnovers, balances, statements of accounts;
  • Multi-tenant mode. For example, the same user can only participate in transactions, payroll, balance sheet, statement and other forms. You can allow or disallow the crossing of functions;
  • Ongoing updates and technical support.

ORIS has a large set of features, but it is still not suitable for today’s needs. Because modern accounting involves almost complete automation of balance sheet processes, which will allow seeing the whole business in a single system, to learn the real value of projects, it is most profitable to plan purchases, to determine the optimal margin, to be protected from legal sanctions. 

What kind of accounting programs are used in Georgia now?

Ideal for any business in today’s realities is a cloud-based accounting solution. What is a cloud solution? It is software without any network infrastructure and IT support. There are a lot of such programs now, but not on the Georgian market. We managed to find by trial and error method and that’s why we decided to switch to it:

  • Balance is the only cloud accounting software where employees work from different places at the same time without any network infrastructure and IT support, which is especially important when you need to work remotely;
  • Automated reporting – all the necessary management and financial reports in one click;
  • Balance allows us to serve our clients much faster, prepare all the necessary reports in the program and daily monitor the financial situation of the company in real time;
  • Multilingualism, which allows the use of the program without knowledge of Georgian language.

To master basic knowledge of accounting programs you will need to be trained and certified. But it is better to contact us. The Jara Accounting team will provide you with a personalized approach and a unique solution to your accounting needs.

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