Accounting services

Balance Sheet LLC was founded in 2008 and began its activities in the city of Alaverdi. Having achieved success in a short period of time, the founders of the company decided to expand the scope of the company’s activities by opening an office in Yerevan.

The company’s mission is to provide high-quality business services in the field of taxation and accounting.

Along with the development of the economy in countries with developing market economies, legislation regulating taxation and accounting is constantly being reformed, which has an impact on the effective management of business, both in terms of regular qualifications of specialists and the possession and correct application of legislative news.

Cooperation with us will create the opportunity for you to receive a full range of professional advice on tax and accounting services.

We provide

Accounting and consulting

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Accounting is complete and accurate information about business activities, which is reflected in the financial and tax reporting of an organization. The presence of competent accounting allows an enterprise to evaluate its costs and income, optimize and manage them, which has a positive effect on the effective management of business processes, further business development and strategic planning.

Accounting outsourcing is seen as a way to reduce accounting costs and financial risks. Accounting outsourcing frees a business not only from the need to have a team of accountants, payroll and associated tax obligations; from the obligations of purchasing and monitoring accounting software, but also allows the businessman to direct all his time and resources exclusively to other business management processes.

Balance sheet accounting firm offers:

  • From accounting of initial accounting documents to preparation of financial statements
  • Development of accounting policies
  • Compilation of calculations-reports submitted to tax and other state authorities
  • Implementation and recovery of accounting
  • Participation in inspections conducted by the tax authority
  • Automation of operational accounting

Tax accounting and consulting

Tax accounting management by commercial companies, as
emergence of a new direction of accounting defined by the RA Tax Code
is a mandatory requirement.

Accounting policies include certain principles,
principles, methods, rules, forms and procedures that apply
preparation and presentation of financial statements by the organization

The tax accounting policy must be approved by the company
by order of the management. Such policies can be as:
part of the company’s normal accounting policy, so be accepted
as a separate document.

The Balance Sheet company offers

  • Preparation of tax reports
  • Calculation, planning and accounting of taxes, duties and other mandatory payments in accordance with the tax legislation
  • Assessment, management and consulting of tax legislation, tax accounting and optimization methods, payment terms and tax risks
  • Assessment and consultation of tax consequences of individual transactions (contracts).

Personnel administration

In addition to being a legal requirement, personnel document circulation ensures the documentation of agreements on the change and termination of the relationship between the employer and employees, which in turn is one of the important tools of staff management.

In the framework of personnel administration service, we carry out:

  • Drafting of legal acts regulating labor relations, contracts and agreements for the paid provision of labor and services (civil law)
  • Calculation, accounting and consulting of working time calculation bulletins, vacation and disability benefits
  • Drafting of internal disciplinary rules and other legal acts regulating labor relations

Internal Audit

One of the main prerequisites for running a competitive business is the most efficient use of available resources. From this point of view, one of the most important issues is to avoid additional tax consequences.
In most cases, such services are used before scheduled audits by the tax authority, but the use of this tool allows a business to reduce risks, take into account lost income and expenses, and avoid additional tax consequences.

Accounting company Balance Sheet offers:
• Checking tax and financial statements, identifying errors and omissions, correcting and preparing updated statements.
• Accounting for lost income and expenses, consultations on their optimization
• Consultations on reducing tax and accounting risks

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Other services

Balance sheet accounting company offers a package of additional services, which are provided both individually and as a complete package.

  • State registration of business, legal type selection advice
  • Assisting in registration of legal entities and registration of individual entrepreneurs
  • Provision of amendments to the charter of legal entities and their state registration
  • Assisting in ordering seals and stamps
  • Assistance in the purchase and maintenance of cash register machines The above services are provided both individually and as a complete package.

Accounting services. Development history

Accounting services.

To its modern form, bookkeeping has come a long way from primitive oral calculations carried out by one person (6th millennium BC). The records that have reached us from the times of ancient China testify to the existence of accounting for 8 thousand years.

старые деревянные счетыData on the history of the emergence of accounting in ancient China allow us to judge the rapid development of inter-business relations, which led to the need for the formation of records of material assets, their movements and balances.

The Accounting System in the Ancient World

The history of accounting began in the tribal community, where writing and arithmetic were not yet sufficiently developed. The accounting was carried out at the level of sufficiency of material resources that meet the basic needs of a person. Usually such records were kept by the elder or chief.

The sufficiency of oral accounting was determined not only by the absence of writing, but also by the absence of devices for storing food, things and other material values. Often there was simply nothing to consider.

The appearance of the first written records in ancient Egypt and Babylon

The emergence of economic relations between tribes, as well as the emergence of writing and arithmetic contributed to the history of the development of accounting. The formation of the system of relations in the form of duties (taxes) also had an impact. The first methods of accounting were inventory and record keeping, signs of which have been found in states such as ancient Babylon and ancient Egypt.
древнегреческие бухгалтеры

The inventory tables were dated at 2-year intervals, that is, the inventory was performed once every 2 years. In ancient Egypt, accounting records were kept on papyri, the length of which reached 4-5 meters. Writings were made on such a “roll” in black and red ink, with the more important numbers (day and month, total amounts) highlighted in red.

In ancient Babylon, thin tablets with a layer of clay were used for records. To record the data, the clay was wetted with water, written on, then dried and burned. The record of the business transaction contained data on the date, sender, receiver, name and quantity of the valuables. Often such “cards” were sealed in vessels with the contents indicated on the seal and kept.

When transferring funds, a receipt was required, without which the transaction was considered invalid. Accounting of material possessions was carried out in the palaces and private houses of the nobility, as well as by merchants. State records were usually kept by churches.

Stages of accounting methodology evolution

The gradual development of the accounting system is divided into 6 stages.

This is what the accounting systems of the Old World belong to. BC 4000 until AD 500 The foundation was laid for the statement of the facts of the existence of property and business transactions.

Valuable (5th century BC – XIII AD).
The stage when accounting is divided into natural and monetary accounting of values. The creation of money led to the determination of the value of each good or service, so accounting was divided into patrimonial (accounting for property) and patrimonial (accounting for cash flows).

винтажная касса

Digraph (1300-1850).
The need to determine the financial result of economic activity led to the emergence of unified and two-graphic records of domestic accounting. Capital, profit and loss accounts appeared in the chart of accounts. Digraphic (double) registration has been more developed, but the popularization of single accounting has been shown by the transition of small businesses to the simplified tax system.

Theoretical and practical (1850-1900).
A dispute between accountants about the classification of graph accounting in law or economics. Development of the system of accounts, their classification. A system of conventional categories emerged that is still in use today: cost, balance sheet, production and distribution costs, profit.

Scientific (first 50 years of the twentieth century).
The simultaneous presence of legal and economic interpretations of accounting, their alternative strengthening and weakening, without obvious signs of the dominance of a specific doctrine. During this period, accounting is reoriented according to the principle of industry, the national accounting and reporting system is brought to uniform standards, and a system of principles for assessing the property and legal status of the enterprise is developed. This stage is characterized by the emergence of a cost accounting system based on points of responsibility (fixing places). The concept of costing appears, taking into account not only direct but also indirect costs. There is also an upcoming cost rationalization system that radically changed the concept of accounting. Features of the dynamic and static interpretation of the balance sheet led to the emergence of auditing. In a number of European countries, tax legislation is beginning to develop, which creates prerequisites for the emergence of legislative norms in the field of accounting law.

Modern (from 1950 to the present day).
The development of the dynamic interpretation of the balance sheet led to the emergence of management accounting, and the static interpretation became the basis for the creation of international financial reporting standards and the national accounting system. A tax accounting system was formed.

Nowadays, the provision of quality accounting services is necessary for proper business development.

Accounting services

Since 2008, the Balance Sheet accounting company has been providing high-quality accounting services throughout the territory of the Republic of Armenia. We offer:

Accounting and consulting

Tax accounting and consulting 

Internal Audit 

Personnel administration

As well as a list of additional services. 

The deadline for submitting the annual income tax statement for 2023 is postponed until July 22

The deadline for submitting the annual income tax statement for 2023 is postponed until July 22

The State Revenue Committee informs the declarants that based on Part 6 of Article 53 of the RA Tax Code and taking into account that some of the persons submitting the calculation-declaration for 2023 have not yet been able to pass the strict identification of the person, identification card or mobile identification card. through, as well as in the migration and citizenship service of the RA Ministry of Internal Affairs, there are large queues to get an identification card, the deadline for submitting the calculation-statement for 2023 is postponed by 81 days from the deadline for submitting the corresponding calculation-statement, until July 22 of this year.

Therefore, until July 22 of this year, the following will not apply:

169¹ of the RA Law “On Administrative Offenses”. the measures of administrative liability defined in the article,
According to Article 401 of the Tax Code of the Republic of Armenia, the penalties calculated for delaying the payment of the tax beyond the specified period,
According to Article 402 of the Tax Code of the Republic of Armenia, the fine applied for the late submission of the tax calculation.

At the same time, the SRC urges citizens who do not have an identification problem to submit the calculation-declaration within the time limit set by the RA Tax Code, until May 1 of this year.


What you need to know about the universal declaration of income of individuals

What you need to know about the universal declaration of income of individuals

How to submit a declaration

Citizens must submit an annual income tax declaration from the declaration section of the “Electronic reporting system for natural persons”. The system will be available both as a web version and as a mobile application.

To use the system and submit a declaration, it is necessary to have a strong electronic identification, and to make and approve changes, an electronic signature is also required. It is necessary to ensure the confidentiality, security and access of your earnings data exclusively to you. Now there are two versions of strict electronic identification and electronic signature.

Option one

Via mobile phone, which requires:

to have an identification card (ID Card), and if you don’t have one, get it from any regional office of the Migration and Citizenship Service of the RA Ministry of Internal Affairs.
With an identification card and mobile phone, visit any service center of your or another preferred mobile operator, where the mobile phone number card (SIM) will be replaced with a new card, and in case of changing the operator, a new card will be installed.
Activate the electronic identification with the help of the service staff of the mobile communication operator and with your participation.
Activate the electronic signature service at the service center of the communication operator, as well as independently through payment terminals or by visiting

For additional information, you can visit any service center of your preferred mobile operator with an identification card and a mobile phone or contact the mobile operator in the following ways:

Viva-MTS: hotline: 111 or 093 297 111,

Yukom: hotline: 444 or 011 444 444,

Team Telecom Armenia: Hotline: 100,

Option two

With an authentication card containing an electronic medium, which requires:

have a valid identification card containing an electronic chip received from the regional office of the Migration and Citizenship Service by February 15, 2023, with PIN and PUK codes provided in a separate envelope.
Have a reading device, which you can also purchase from “EKENG” CJSC (details:
Visit the website and follow the instructions to activate the electronic card and receive an electronic signature.

For more information, you can visit the online consultant page of or call +374 60 464504.


No additional action is required in case of existing or active electronic identification and electronic signature with any of the mentioned options.

What is social cost?

Individuals submitting a declaration have the right to compensation for social expenses from the amount of income tax. The person submitting the declaration can benefit from the compensation both for the social expenses incurred for him and for his family members. Family members are an individual’s spouse, parents, and children (adoptors and adoptees).

Social cost is considered:

Obtaining a health insurance package from insurance companies operating in Armenia,
Tuition fees paid to educational institutions implemented in Armenia (tuition fees paid for preschool, elementary, basic, secondary, pre-vocational (vocational), secondary, higher and post-graduate professional educational programs).

How can I avail the refund?

In order to take advantage of the possibility of compensation, it is necessary to request an invoice from the service provider when making social expenses, presenting an identity document and a public service number.

What is the social cost?

The maximum amount of social spending on healthcare is 50,000 AMD per year. For education, a maximum of 100,000 AMD per year. It is necessary to remember that the maximum amount of social expenses made by an individual for himself and his family members in all directions is 100,000 drams per year.

Who is an accountant and why is he needed?

Who is the accountant?

An accountant is a financial professional who is responsible for recording and analyzing the financial transactions of a company or organization. Its main task is to ensure accurate and timely recording of all financial transactions, as well as the preparation of reports and documents for internal and external use.

Such professionals are needed to help companies and organizations monitor their finances, analyze their current situation and make informed decisions based on the data obtained. They can help the management staff of the company to make decisions on matters related to financial planning, budgeting and development strategy.

An accountant can perform a variety of tasks, including preparing financial statements, recording expenses and income, monitoring payments and accounts, and making tax payments. He can also provide tax and financial planning consulting services, as well as help entrepreneurs create new business plans.

The financial operations specialist is one of the most important employees of the company, because he is responsible for the financial stability of the organization. Without an accountant, a company can face problems with accounting for financial transactions, which can lead to budget errors and incorrect tax calculations.

In addition, accounting plays an important role in interaction with tax authorities, as well as banks and other financial institutions. A representative of this profession can help the company maintain financial stability, reduce risks and increase business efficiency.

Why do you need accounting and tax accounting?

Accounting and tax records are necessary for the accurate execution of financial transactions of a company or organization, as well as compliance with tax legislation.

Accounting records all of a company’s financial transactions, including revenues, expenses, assets, and liabilities. It also helps in reporting and analyzing the company’s financial performance. Accounting is necessary for a company’s internal use to help it make management decisions, budget, and develop strategies.

Tax accounting is also an important part of financial accounting. It allows the company to correctly distribute the tax burden and avoid unnecessary fines and sanctions from the tax authorities. Tax accounting includes keeping tax records, calculating tax payments and preparing documents for audits by tax authorities.

Proper accounting and tax management are key in modern business as it allows companies to not only manage their finances but also keep track of their tax obligations. In addition, accurate accounting of a company’s financial transactions is one of the main factors affecting its creditworthiness and reputation in the market.

Who needs an accountant?

An accountant is in demand in any company or organization, regardless of its size or field of activity. He is responsible for maintaining records as well as reporting and analyzing the company’s financial performance.

He also plays a key role in the financial activities of the company. He is responsible for recording and tracking all financial transactions of the company, including revenues, expenses, assets and liabilities. An accountant also prepares reports for company management, auditors and tax authorities.

In addition, the professional must ensure compliance with all tax laws and regulations to avoid potential fines and penalties from tax authorities, and may work with auditors and lawyers to ensure that financial statements are accurate and that all laws and regulations are followed.

Thus, the accountant is an integral part of any company or organization, as he is responsible for the correct and accurate maintenance of financial transactions and ensures its financial stability and creditworthiness. Additionally, an accountant plays an important role in business management by providing financial reports and analysis that help management make decisions in the best interest of the company.

A specialist can work either in-house or outsourced. An in-house specialist is familiar with the characteristics of the company, knows its financial flows and can quickly respond to changes. But at the same time, such a person requires constant training and support from management. An outsourced accountant can be beneficial for a company that cannot afford to hire a full-time employee on a permanent basis. In addition, such an accountant can bring experience of working with different companies and business sectors.

Thus, an accountant is a key employee of any company who helps it manage its finances properly, monitor compliance with laws and regulations, and make decisions based on the company’s interests.

Accountant for Sole Proprietors (SOEs) and LLCs.

For sole proprietors (PSOs) and LLCs (limited liability companies), an accountant is the most necessary employee.

For individual entrepreneurs, a specialist can independently carry out accounting or seek the help of a professional accountant. However, despite the fact that sole proprietors are exempt from certain reporting and tax payments, they are still required to account for their activities and submit reports to the tax authorities.

In the case of an LLC, the accountant is an integral part of the company and is responsible for all types of accounting (accounting, tax, etc.). He also prepares reports and is responsible for compliance with tax legislation.

It is worth noting that even if the LLC has a small turnover or a small number of employees, having an employee helps to manage the company’s finances, avoid accounting errors and minimize the risks associated with tax audits.

Thus, for sole proprietorships and LLCs, an accountant can be very useful and even necessary. Record keeping requires knowledge and experience, and having a professional help entrepreneurs deal with this task more efficiently.

SRC launched the unified system of electronic services for individuals

The unified system of electronic services of individuals has been launched.

By the way, all those persons who have a 20% or more share in LLCs, JSCs, CJSCs, as well as individuals who own real estate for rent, must submit an electronic declaration.

The State Revenue Committee launched the unified system of electronic services for individuals, which is available in the web version: Through the system, citizens can submit a general declaration of income.

On the “I am” national identification platform, natural persons have the opportunity to register with the tax authority in a simplified manner and obtain a taxpayer registration number (TAN), see their income and social expenses, submit an “Income tax and social contribution calculation (declaration)” and receive reimbursement of expenses .

SRC reminds the citizens submitting a declaration once again that in order to submit a declaration, a person’s identification process must be carried out in advance and an electronic signature must be obtained.

There are two ways to identify a person on the “I am” platform: through a mobile phone or with an identification card containing an electronic carrier. You can find the sequence of steps here. And in the presence of an already functioning or active electronic identification and electronic signature with any of these options, no additional action is required.

The system is trilingual: Armenian, English and Russian. In case of failure to submit the calculation-declaration within the specified period, measures of responsibility are defined. in case of non-submission for the first time, a warning is applied, then a fine.