Question 1

What are the basic accounting rules in Estonia?

Accepted Answer

Each company registered in Estonia is obliged to submit annual reports to the registry. You have 6 months after the end of each tax year to submit the annual report. This service is included in our Standard and Pro plans. If you have a VAT number, you have to declare VAT returns every month which are covered by our Pro and E-commerce plans

Question 2

What if I upload more documents than included in my subscription?

Accepted Answer

You can always upgrade your plan to include more documents. It may be hard to define how many documents your business might need. Most of our clients purchase the basic plans at first (Standard with 30 documents or Pro with 15) and then upgrade them as their businesses grow, so you will be able to transfer to a bigger plan later.

Question 3

What documents should I keep for the reports?

Accepted Answer

In order for our accountant to prepare any report, you need to provide a bank statement and all invoices for the period. If you use our banking and invoicing services, which are included in the subscriptions, then the number of required documents will be drastically reduced. Also, if you have payments for acts or contracts, you need to provide them too. Note that Bank Statements are not counted in the documents quota.

Question 4

How does VAT in Estonia work?

Accepted Answer

There are a lot of conditions when you have to register a VAT number, so we’ve created a simple VAT checker that can help you solve the issue. After receiving a VAT number you have to declare a VAT return each month. The deadline is the 20th of the following month. Note that VAT return is covered by our Pro and E-commerce plans.

Question 5

Are there special accounting requirements for e-commerce?

Accepted Answer

Yes. Firstly, you have to upload a Sales report which reflects your trading activity. Usually, it can be easily downloaded from most platforms. It should reflect:  sales amount, tax amount, countries where products were distributed. Sales report counted as 1 document. Note that you also have to upload all invoices, but they’re not counted towards the quota. Also if you receive money not directly to your bank account, but through a payment system (Stripe, Paypal for example), you have to upload a Balance statement from the systems. It is also not counted in the quota. Other rules are common as for regular accounting.

Question 6

I have a VAT number out of Estonia. What are the rules for accounting?

Accepted Answer

You have to declare VAT returns in the country where you’ve received a VAT number. When it’s done, our accountant will reflect these docs in Estonian VAT returns. That is an extra service which costs €20 for each declaration.

Question 7

Can I have a consultation with your accountant?

Accepted Answer

Yes, you can. 1 hour of consultation per month is included in our subscriptions Pro and E-commerce plans. Also, 1 hour per year is included in the Standard subscription. Additional hour costs €45. If you have no subscription on Enty, consultation with an accountant will cost €65 per hour.

Accounting for Estonian Company

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