Definra

From accounting and payroll to finance administration and other day-to-day business processes, there’s a lot happening behind the scenes to keep a company running smoothly.

At Definra, we help businesses manage these processes with the right expertise, clear responsibilities and reliable workflows - whether you need support with a specific function or a broader part of your back office. Because less time spent managing routine processes means more time to focus on the business itself. 💪

When a report is late, an invoice is missing or month-end takes longer than expected, finance is often the first place we look. 👀

But the actual issue may have started much earlier - with unclear approvals, missing information, undefined responsibilities or documents getting stuck somewhere between teams.

Finance is simply where many of these gaps eventually become visible, which is why strong financial processes depend on much more than the finance team itself - they depend on how smoothly information and responsibilities move across the entire business.

💡 Growing sales can actually leave a company with less cash.

Growth often means paying for more inventory, people, suppliers and operations before the additional revenue reaches your bank account. If customers pay in 30, 60 or 90 days, the gap can become even more noticeable as sales increase. That’s why strong revenue and even healthy profits don’t always mean a comfortable cash position.

For finance teams, growth isn’t only about watching the top line - it’s also about managing working capital and making sure the business has enough cash to support that growth.🚀

International trade is evolving - and EU VAT rules are evolving with it.
🔔 From 1 January 2027, a new wave of VAT changes related to cross-border trade, e-commerce and the OSS/IOSS systems will start taking effect across the EU.

The changes are designed to further simplify and harmonise VAT treatment for businesses operating across borders. Among other updates, the scope of OSS will expand, VAT rules for online marketplaces will be adjusted, and some existing cross-border arrangements will gradually move towards the OSS framework.

For international businesses, the key takeaway is simple: VAT processes should keep pace with the way your company operates across markets. 🌍

If your business sells goods or services in several EU countries, works through online platforms or manages cross-border transactions, now is a good time to review how the upcoming changes may affect your VAT reporting, systems and internal processes. Because although 2027 may still seem some time away, for businesses operating internationally, preparation shouldn't be a last-minute task. ⏰

A small leather bag gave us one of the most-used words in finance. 💡

The word "budget" traces back to the French "bougette", meaning a small leather bag or pouch. The term later became associated with the financial documents carried in such a bag and, eventually, with the financial plan itself.

The numbers are correct. But are they useful? 📉

Accurate accounting is essential, but accuracy alone doesn’t automatically make financial information useful for decision-making. A report can be technically flawless and still leave management struggling to see what actually matters: where margins are changing, which costs are growing, how performance compares to expectations, or where attention is needed.

That’s where management reporting comes in. It turns financial data into context - highlighting trends, deviations and the numbers that matter for the decisions ahead. Thus, good financial reporting shouldn’t just tell you what happened. It should help you decide what to do next.

Month-end closing is much more than a routine finance task: it is the process that brings the month’s financial activity together, helps ensure the numbers are aligned, and provides a reliable picture of where the business stands.

At Definra, Accounts Payable Specialist Ieva Ziutelytė is involved in several parts of the month-end closing process: from supporting DPO, DSO and volume calculations to headcount reporting and intercompany reconciliation.🗂

As Ieva explains, there is no single month-end closing process that looks exactly the same for everyone. The steps and responsibilities depend on the role. In her case, an important part of the process is making sure intercompany balances match across different entities before reporting them in OneStream platform.

While month-end involves many individual tasks and often comes with tight deadlines, some of the most common mistakes have very simple causes: working too quickly and losing attention to detail. “Month-end is the time to stay especially focused. Even when deadlines are tight, it is important to work carefully, double-check the details and give critical calculations and reports an extra review.”

Ieva also highlights the importance of understanding not only your own responsibilities, but also how they connect with the work of others. Month-end is a team effort, and one delayed or inaccurate task can affect the next steps in the process. And, according to Ieva, it is also an important process to keep an eye on for business leaders, as a well-managed month-end close ultimately means more than completed finance tasks. It provides a clearer and more reliable picture of business performance and a stronger foundation for the decisions that follow. 👈

September 1 in Lithuania marks a fresh start: new lessons, new goals, and new opportunities to grow. 📚

At Definra, we believe learning never really stops. Whether at school, at university, or throughout our professional lives, there is always something new to discover.

“If the invoice is paid, it’s done.” ⬇️

It's important to keep in mind that payment is only one step of the process. An invoice can be paid on time and still create accounting issues if the documentation is incomplete, the expense is booked in the wrong period, the approval process wasn’t followed, or the VAT treatment is incorrect.

A smooth payment doesn’t always mean a correct accounting process; good finance operations make sure both happen: the invoice gets paid and the accounting behind it is right. 💪

✈️ Business trips are a routine part of work for many companies. But from 1 October 2026, several changes will affect how daily allowances for employee business trips are calculated and paid.

Definra's Chief Accountant Gintarė Bartninkienė highlights three key updates employers should prepare for:

→ No daily allowance for one-day business trips within Lithuania: daily allowances will only be paid when a domestic business trip lasts longer than one day;

→ 20% allowance for short first or last days: if the first or last day of a business trip lasts less than 4 hours, including travel time, only 20% of the applicable daily allowance will be paid;

→ New rules for reduced daily allowances: where reductions are agreed in a collective agreement, allowances may be reduced to no less than 50% of the government rate. Without a collective agreement, internal company rules may provide for a reduction only for trips lasting 7 days or more, and the allowance cannot be lower than 65% of the government rate.

There is also an important procedural change: when reduced daily allowances apply, employees must be informed in writing before each business trip begins.

📢 All these changes take effect on 1st October 2026 - so now is a good time for Lithuanian companies to review their business travel policies and internal procedures.