UAB “buhalterės.lt” is implementing the project “Creation of an Accountant Assistant,” No. 02-045-K-0041. The total project value is EUR 139,239.10, of which EUR 69,619.55 is funded by the EU.
The project is being carried out according to the contract within the 2021–2030 Digital Development Program of the Ministry of Economy and Innovation of the Republic of Lithuania. This program, specifically under the measure No. 05-002-01-07-07 “Promoting Data Accessibility and Reuse,” supports activities like “Investments by Companies in Developing New Innovative Solutions and Digital Services Using Open Data” for both the Capital Region and the Central and Western Regions of Lithuania. The conditions and procedures for the funding of these projects are set out in the order of the Minister of Economy and Innovation of the Republic of Lithuania dated November 14, 2023, No. 4-639, as well as the rules for project administration and funding approved by the Minister of Finance of the Republic of Lithuania on June 22, 2022, No. 1K-237, for the 2021–2027 EU Funds Investment Program and the Recovery and Resilience Plan “Next Generation Lithuania.”
The purpose of accounting is to inform interested parties about a company’s financial situation. Accounting and its principles are crucial components of business. It extends beyond calculating wages, paying taxes, and submitting declarations; it acts as a mirror of the company’s financial state, profitability, and expense indicators. Properly managed accounting ensures business transparency, allows for monitoring company activities, and provides the opportunity to detect declining financial indicators early, enabling proactive measures. Company accounting is regulated by numerous legal acts related to accounting, tax calculation, declaration, and payment, with these requirements changing frequently, making the work of accountants complex and the responsibility significant.
There are several accounting service providers in the market offering paid services, as well as free portals providing assistance to accountants (tax calendars, calculators, forms, etc.). However, when specific questions or unique situations arise, accountants must search for answers in legal acts (which can be challenging to navigate in legal registers), contact the State Tax Inspectorate (which may require waiting for a connection with a competent staff member to explain the specific case, or scheduling a visit), or seek paid consultations (relying on the consultant’s expertise). Currently, there is no automated tool available in the market that can provide a specific, real-time answer to particular questions or situations.
The project aims to develop a robotic, AI-based virtual accountant consultant/assistant that will provide users with fast, reliable, and personalized consultation on accounting matters, using information from official sources.
There is no such solution available in the market at present. This new solution will offer socio-economic benefits by ensuring legal business operations, transparency, and timely tax payments to the state budget, as well as saving users time and resources.
Project start date: September 30, 2024
Planned project completion: March 2026.
