Accounting Software in Latvia: Jumis, Horizon, and Alternatives

Tildes Jumis has held a near-monopoly on Latvian accounting software for over twenty years. Walk into any accounting office in Riga, and the chances of finding Jumis installed on at least one machine are somewhere north of 80%. Yet the landscape is shifting — cloud-based alternatives now handle everything from bank feeds to PVN declarations without requiring a desktop installation, and a growing number of accountants are making the switch.

Choosing the wrong software rarely bankrupts a company. But it can waste hundreds of hours per year in manual workarounds, limit your ability to collaborate with your accountant, and lock you into a system that does not grow with your business.

Tildes Jumis: The Market Standard

What it is: A desktop-based accounting application developed by Tildes, a Latvian IT company. First released in the early 2000s, it has been continuously updated to comply with changes in Latvian tax law and accounting standards.

Why it dominates: Jumis was built specifically for Latvia. Every report format, every tax declaration, every chart of accounts follows Latvian standards out of the box. Most Latvian accountants learned their craft on Jumis, which means finding someone who can use it takes approximately five minutes.

Strengths:

• Complete compliance with Latvian accounting law
• Generates all VID-required reports and declarations
• Handles payroll, PVN, CIT, and annual reports
• Stable, well-tested codebase
• Extensive local support network

Weaknesses:

• Desktop-only — data lives on one computer (or a local server)
• Collaboration requires exporting/importing files or sharing a network drive
• The interface feels dated compared to modern cloud applications
• Updates require manual installation
• No automatic bank feeds (data entry is manual)

Cost: One-time license fee starting around EUR 200–400, plus annual maintenance and update fees of approximately EUR 100–200. Total first-year cost for a single user: roughly EUR 300–600.

Best for: Accounting firms that process many clients on the same machine, businesses with an in-house accountant who works in one location, companies that prefer a one-time purchase over recurring subscriptions.

In our experience, Jumis remains the most reliable choice for accountants handling complex scenarios — multi-currency transactions, intercompany settlements, detailed cost center accounting. It does everything. It just does it in a way that feels like 2010.

Horizon: The Cloud Alternative

What it is: A web-based accounting platform designed for the Latvian market. Accessible from any browser, any device, with data stored in the cloud.

Why it's growing: Horizon solves the collaboration problem that Jumis cannot. Your accountant enters data, and you see it immediately — no file transfers, no waiting for monthly reports. Bank statements can be imported automatically, reducing data entry time significantly.

Strengths:

• Cloud-based — access from anywhere
• Automatic bank feeds from major Latvian banks
• Real-time collaboration between business owner and accountant
• Modern, intuitive interface
• Regular updates deployed automatically
• Built-in invoice creation and sending

Weaknesses:

• Monthly subscription cost adds up over years (vs. one-time Jumis license)
• Some advanced features still catching up to Jumis
• Requires stable internet connection
• Less flexibility for highly customized reporting
• Smaller user community (fewer accountants know it deeply)

Cost: Monthly subscription starting at approximately EUR 15–20 for basic plans, EUR 30–50 for full-featured plans. Annual cost: EUR 180–600.

Best for: Small to medium businesses that want visibility into their finances without depending on the accountant for every question. Companies with remote teams or owners who travel. Startups that value modern UX.

1C: The Russian-Speaking Market

What it is: A comprehensive enterprise resource planning (ERP) and accounting platform originally developed in Russia, with a strong presence across the CIS countries and the Baltic Russian-speaking business community.

Why it persists: 1C is extraordinarily powerful. It handles accounting, warehouse management, CRM, HR, and manufacturing planning in a single system. For businesses run by Russian-speaking owners with accountants trained in the 1C ecosystem, switching to anything else means retraining everyone.

Strengths:

• Extremely flexible and customizable
• Handles complex multi-entity, multi-currency structures
• Large pool of 1C-trained specialists available
• Comprehensive ERP functionality beyond just accounting
• Can be adapted to Latvian requirements with local configurations

Weaknesses:

• Complex implementation — requires a certified 1C partner for setup
• High initial cost for licensing and configuration
• Latvian localization is maintained by third parties, not the core developer
• Interface can be overwhelming for non-technical users
• Ongoing customization costs can be substantial

Cost: Varies enormously depending on configuration. Basic setups start around EUR 500–1,000 for licensing, plus EUR 1,000–3,000 for implementation. Enterprise configurations can exceed EUR 10,000. Ongoing support: EUR 50–200/month.

Best for: Medium to large companies with Russian-speaking management and accounting teams. Businesses needing integrated ERP functionality. Companies with complex operational workflows beyond basic bookkeeping.

MONEO: The Lightweight Option

What it is: A cloud-based invoicing and bookkeeping platform aimed at micro-enterprises and small businesses in Latvia.

Strengths:

• Simple, clean interface
• Fast invoice creation and sending
• Basic income/expense tracking
• Low cost
• Good for businesses using single-entry bookkeeping

Weaknesses:

• Not suitable for full double-entry bookkeeping at scale
• Limited payroll functionality
• May not handle complex PVN scenarios
• Fewer integrations than larger platforms

Cost: Free basic tier for invoicing; paid plans from EUR 5–15/month.

Best for: Sole traders, micro-enterprises, and freelancers who need invoicing and basic bookkeeping without the overhead of a full accounting system.

Making the Decision

The software choice often follows your accountant, not the other way around. If you're outsourcing your accounting, your provider almost certainly has a preferred system — and asking them to switch to accommodate your preference will either be refused or cost you extra.

If you're doing accounting in-house or want to participate actively in your bookkeeping, the decision matters more. Here's a simplified framework:

| Your situation | Recommended starting point | |---|---| | New SIA, outsourced accounting | Use whatever your accountant uses | | Small SIA, want financial visibility | Horizon | | In-house accountant, complex needs | Tildes Jumis | | Russian-speaking team, ERP needs | 1C | | Micro-enterprise, invoicing focus | MONEO |

One final thought: no software compensates for bad data. The most expensive, feature-rich system in the world produces garbage reports if transactions are entered late, classified incorrectly, or documented poorly. The software is a tool. The discipline is yours.

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Not Sure Which Software Fits Your Business?

We work with all major platforms used in Latvia -- Horizon, 1C, Tildes Jumis, Xero, and others. The right choice depends on your transaction volume, industry, and how much visibility you want into your financials. We set it up, migrate your data, and connect it to VID EDS.

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