A monthly system for records, returns, payroll and status evidence
Georgian Individual Entrepreneurs, IT companies, employers and foreign founders who need ongoing accounting and tax compliance after registration.
- accounting onboarding and source documents
- monthly and annual tax filings
- payroll and employee reporting
- VAT and cross-border transaction review
- threshold and special-status monitoring
What this service covers
We turn the chosen Georgian IE or company structure into a workable monthly system: source documents, bookkeeping, tax returns, payroll, VAT review, threshold monitoring and the evidence needed to keep any special status supportable.
Accounting records completed transactions; it does not replace advance advice on a new activity, cross-border payment, dividend, employment model or special-status-sensitive revenue.
Begin with registrations, contracts, opening records and the real transaction flow
We review the taxpayer’s current registrations, prior filings, bank and cash movements, contracts, invoices, employees and any special status before agreeing the recurring work. Existing gaps are identified separately from the ongoing monthly scope.
- Taxpayer and VAT registrations
- Opening balances and prior-period returns
- Customer, supplier, employment and contractor agreements
- Bank statements, invoices and tax source documents
- IE Small Business or company special-status evidence
A clear monthly document flow prevents last-minute tax decisions
The engagement defines which records the client sends, the cut-off date, which bookkeeping and declarations we prepare, who approves them and which transactions need advice before the return is filed.
- Bookkeeping and account reconciliation
- Monthly and annual tax declarations
- Payroll, employee reporting and payment calendar
- Small Business turnover and GEL 500,000 threshold monitoring
- VAT registration, place-of-supply and return review
- Special-status activity, allocation and substance records
Unusual transactions should be reviewed before they are invoiced or paid
Routine accounting records what happened. New cross-border services, mixed activities, dividends, shareholder funding, related-party charges, employee-versus-contractor changes and status-sensitive revenue can require a separate legal or tax instruction.
- Foreign-client income is not automatically 1% or VAT-free
- Salary, dividends and business turnover use different rules
- A special company status does not cover every revenue stream
- Work rights and residence remain separate from payroll and tax registration
- Professional fees, government charges, audit and third-party work are scoped separately
What to send us first
For onboarding, send the records that show what has already happened and how the business will operate. We distinguish historical cleanup from the recurring monthly scope.
Send us first
- IE/company ID and current tax or VAT registrations
- Prior tax returns, opening balances and any authority correspondence
- Bank statements, invoices and tax source documents
- Customer, supplier, employment and contractor agreements
- Employee, payroll and funded-pension information
- Small Business or company special-status confirmations
We prepare or coordinate
- Review registrations, prior periods and accounting gaps
- Agree monthly document flow, cut-off and approvals
- Maintain bookkeeping, reconciliations and recurring returns
- Operate payroll and employee reporting
- Monitor VAT, thresholds and special-status evidence
Obtained or confirmed later
- Advice and documentation for new or unusual transactions
- Audit, assurance or amended-return work
- Authority decisions and correspondence
- Year-end statements and annual filings
- Status renewal, confirmation or termination evidence
How the work usually proceeds
The exact order depends on the service and your documents. We confirm the steps and responsibilities before professional work begins.
- 01
review registrations, opening balances, contracts and prior filings
- 02
agree the document flow, deadlines and client responsibilities
- 03
complete bookkeeping, payroll and recurring declarations
- 04
review VAT, thresholds and unusual transactions before filing
- 05
provide periodic reconciliations and status or renewal alerts
How this may look in a real case
A developer with Small Business Status receives a monthly source-document and turnover process that distinguishes qualifying business income from excluded receipts and flags a GEL 500,000 threshold crossing from the correct month.
What can slow the process down
We check these points at the beginning and flag gaps before filing, so you can correct them while there is still time.
- Prior-period gaps and the recurring monthly scope are mixed together at onboarding.
- Invoices and payments are recorded before the underlying service, income type or VAT treatment is checked.
- A 1%, 5% or exemption headline is applied to transactions outside the qualifying status or activity.
- Bank statements, contracts, invoices and payroll changes arrive after the filing cut-off.
- New related-party, dividend, contractor or non-permitted transactions are reviewed only after payment.
A clear recommendation and a managed Georgian process
We establish a reliable document flow, complete the recurring accounting and tax work in scope and flag transactions or thresholds that need a decision before the next filing.
ITResidency.ge is operated by ASSIO LEX & ASSOCIATES LLC, the Georgian legal and business-services provider for the engagement.
- Registration and prior-period onboarding
- Bookkeeping and reconciliations
- Tax returns, payroll and employee reporting
- VAT, turnover and special-status monitoring
- Periodic handover and deadline alerts
Frequently asked questions
Who is the IT accounting and tax service for?
It is for Georgian Individual Entrepreneurs, IT companies, employers and foreign founders who need recurring bookkeeping, tax filing, payroll, VAT or special-status support after registration.
What do you need to take over the accounting?
We first review the taxpayer registrations, prior returns, opening balances, bank statements, contracts, invoices, employees, outstanding issues and any Small Business or company status. We then confirm the recurring document flow and scope.
What documents must I send each month?
The exact list depends on the business, but commonly includes sales and purchase invoices, bank statements, contracts or acceptance records for new transactions, payroll changes, cash records and information about unusual or related-party payments. We agree a monthly cut-off date.
Does the 1% Small Business rate apply to every foreign-client payment?
No. The person must hold Small Business Status from the correct effective date, perform a permitted activity and receive income that falls within the regime. Georgian-source rules, excluded income and VAT remain separate; foreign client or foreign bank details do not decide the result alone.
Can you handle payroll for foreign employees?
Yes, where included in scope. Payroll must be coordinated with the actual employment agreement, employee reporting, applicable income-tax and funded-pension treatment and the person’s right-to-work and residence position.
Do you review VAT on cross-border IT services?
Yes. VAT registration and place of supply depend on the service, customer status, customer location and transaction facts. A foreign customer does not automatically make every service VAT-free.
Can you maintain International Company or Virtual Zone records?
The scope can include recurring accounting and evidence controls for a special status. New activities, non-qualifying revenue, staffing, substance or allocation changes may require a separate legal or tax review before invoicing.
How are fees quoted?
Recurring fees depend on the entity, transaction volume, employees, VAT, reporting frequency, currencies, prior-period condition and any special status. Cleanup work, advisory questions, audit, filing fees and third-party costs are scoped separately.
