Magrat Baltic OÜ

BACKGROUND

Please describe your company and position.

 I am the Member of the management board of an other industries company 

Describe what your company does in a single sentence.

Main business activity is non-specialised wholesale trade: agent activities for the sale of textiles, clothing, fur, footwear, and leather goods, as well as wholesale trade in textiles, clothing, footwear, and fur products.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire Magrat Baltic OÜ to accomplish?

• Maintain accurate day-to-day bookkeeping and prepare regular financial reports for company ownership and management.
• Ensure timely and accurate transfer of financial data to our local Lithuanian accounting/tax provider for monthly statutory reporting and declarations.
• Support ongoing compliance with Lithuanian accounting and tax regulations through coordinated reporting between Magrat Baltic OÜ and the local provider.

SOLUTION

How did you find Magrat Baltic OÜ?

Online Search

Why did you select Magrat Baltic OÜ over others?

• High ratings
• Great culture fit
• Good value for cost
• Company values aligned
• Excellent communication - quick and clear answers to our questions.

How many teammates from Magrat Baltic OÜ were assigned to this project?

2-5 Employees

Describe the scope of work in detail. Please include a summary of key deliverables.

Magrat Baltic OÜ manages our ongoing bookkeeping and accounting on a monthly basis. This includes recording day-to-day financial transactions, maintaining accurate accounting records, and preparing regular financial reports for company ownership and management. Key deliverables include:

• Monthly bookkeeping and reconciliation of accounts.
• Regular financial and management reports for the owner.
• Timely, accurate transfer of financial data to our local Lithuanian accounting/tax provider each month, enabling correct and on-time filing of statutory declarations.
• Ongoing coordination between our accounting records and local compliance requirements in Lithuania.

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

All monthly tax declarations were filed on time and in full compliance with all applicable requirements and regulations, with zero missed deadlines throughout the entire period of cooperation.

Describe their project management. Did they deliver items on time? How did they respond to your needs?

Magrat Baltic OÜ consistently delivered our monthly bookkeeping and financial reports on schedule, ensuring the data needed for local tax filings was always ready in time for the Lithuanian provider's deadlines. Communication was excellent throughout - urgent questions were answered within an hour, and routine questions within the same business day; we never had to wait days for a response. We have a dedicated client manager and accountant we can always reach directly, and they consistently helped resolve any issues or requests.

What was your primary form of communication with Magrat Baltic OÜ?

• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

What stands out most is their combination of responsiveness and reliability - having a dedicated client manager and accountant readily available, with a perfect track record on filing deadlines, gives real peace of mind. They value personal contact and don't just communicate through emails - we can always reach someone directly when needed. At the same time, wherever processes could be automated or streamlined, they've set that up and put it in place. They also smoothly coordinate cross-border reporting between our Estonian bookkeeping and the Lithuanian compliance requirements, so nothing falls through the cracks.

Are there any areas for improvement or something Magrat Baltic OÜ could have done differently?

At this stage, everything we agreed on is being followed, so we don't have any specific suggestions for improvement.