Accounting services in Estonia

Correct organization of accounting is the basis of any enterprise - not only a duty, conditioned by the law, but also because financial data are important indicators in the analysis of the overall development of the enterprise. The monthly review of the income received, the variable costs and the balance sheet allows making decisions on the future of the enterprise and making the right decisions.

 

Features of accounting services in Estonia

An annual report is the main document for the entrepreneur – a natural person, since in it he reports to the Tax Department on his economic activities for the whole year. On the basis of this report, a recalculation is made on the payment of income and social taxes from the profit received by the entrepreneur. The minimum social tax rate of an entrepreneur – a natural person is obliged to pay quarterly (if desired monthly), regardless of the income received by him. The primary documents are incoming and outgoing accounts, cheques, purchase and sale contracts, loan agreements, write-offs or acceptance of goods or fixed assets, that is, documents on the basis of which the accountant makes entries in the accounting program.

Basic factors of accounting services in Estonia

The company’s accounting in Estonia depends on many factors:
  • workflow values
  • presence or absence of VAT
  • availability of employees
  • foreign exchange share
According to Estonian law, the accounting records of each company are kept on a daily basis, is responsible for the correct keeping of the records of the member of the board, he can keep them independently or with the help of hired specialists.
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