Accounting services in Estonia

Accounting services for businesses of all sizes

Meticulous and accurate organisation in accounting is the cornerstone of financial health for both businesses and e-residents. This is not only due to legal requirements but also the need to understand one’s company’s financial position, which plays a critical role in assessing business development. Regular reporting on income, expenses, variable costs, and the balance sheet provides essential information that helps shape the future of the company and make strategic management decisions. Therefore, it’s crucial to decide whether to handle your accounting by yourself or opt for an external accounting service.

Additional services beyond regular accounting services

Our team offers a wide range of additional services alongside the management of core accounting activities.

Document management

We ensure the correct storage and archiving of documents.

Payroll accounting services

We handle payroll, bonuses, and holiday pay calculations.

Sick leave and vacation accounting

We take care of the accounting for employees’ sick days and vacation accruals.

Communication with the Estonian Tax and Customs Board

We act as an intermediary between your company and the Estonian Tax and Customs Board.

Coordination with the Health Insurance Fund

We assist with procedures related to the Health Insurance Fund.

Streamlining your business operations

Document transport

We manage digital document handling and, when necessary, physical transport.

Important metrics reports

We send you a monthly report providing a quick and valuable overview of your company’s current situation.

Simplifying your transition to us

We help organize previous periods’ accounting records if needed.

Consultation and support

We respond quickly to inquiries and offer expert advice.

Business consultations

We advise on financial activities, including capital raising and mergers of companies.

VAT Registration

We assist with registration and other actions to ensure VAT is paid correctly.

A company receives a Value Added Tax (VAT) number from the Tax and Customs Board following the submission of an application. A company is required to register for VAT when its taxable turnover surpasses 40,000 euros within a business year. However, if the company’s turnover hasn’t yet reached this threshold but has already started its business operations, and acquiring a VAT number is deemed sensible given the nature of the business model and anticipated business flows, the entrepreneur can choose to voluntarily register for VAT.

Preparation of annual accounting report

For collaborations lasting at least one year, the preparation of the annual report is free of charge.

Every year, within six months following the close of the financial year, it is mandatory for businesses to prepare and file an annual report with the Commercial Register. This report provides a detailed account of the company’s performance over the past financial year. Additionally, businesses are required to submit further reports and declarations that adhere to the specific format, structure, and scale of the enterprise.

In Estonia, all entities that keep accounts are obliged to submit an annual report. This report must conform to legal standards and include both a yearly financial statement and a narrative report detailing the company’s activities.

Finance Plus provides professional accounting services designed to manage cash flows and support the development of firms of any size. We are always available to answer any questions you might have.

When to outsource accounting services?

Doing accounting for your business by yourself

A small business owner often manages well on their own, especially with a background in accounting or economics. Getting a consultation or participating in training can provide clarity and may be sufficient for managing your small business accounting obligations.

It’s important to understand that accounting requires a lot of attention to detail and thoroughness, and it can become more complex as your business grows.

External accounting services

As the business expands and accounting tasks become more complex, it may be a suitable time to consider whether to outsource accounting services or continue independently. This allows you to focus on expanding your business and other important strategic tasks.

Trusting your accounting to professionals ensures that financial recording and tax obligations are accurately met.

Outsourcing accounting services might be sensible if:

• Your main priority is growing the business and optimizing resources;
• The complexity of the company requires additional accounting skills and software;
• There is a need to understand international expansion and tax laws of different countries;
• You are dealing with large sums and need assurance that all financial transactions are correct.

Using professional accounting services reduces risks and ensures reliable financial reporting.

Hiring professionals can more effectively utilize tax benefits and provide a foundation for resolving complex financial issues.

Even if you decide to manage your accounting, consulting with an expert accountant can offer better insights and advice if needed.

If you prefer to entrust your accounting to an experienced accountant, Finance Plus is here to support you!

Pricing for the accounting services