3. Accounting with Enty
3.1. Onboarding to the Accounting Process
Welcome aboard!
Accounting with Enty is designed to make compliance with Estonian Tax Authorities simple and stress-free for foreign SME owners and e-residents. Our onboarding process is straightforward and ensures we have everything needed to manage your accounting.
It typically consists of the following steps:
Identity and Company Details Compliance: As a regulated accounting and Virtual Office provider, we’re required to verify the identities of your key company members and collect basic company information for compliance purposes. The process is quick and takes just a few minutes. Each board member and major shareholder will need to submit a selfie, an ID photo, and complete a short questionnaire about your business activity, VAT status, employees, and any board members on payroll. In most cases, identity verification is completed automatically right after submission. However, if a shareholder is a legal entity or the system flags risk indicators, a manual review by our team will be required. In such cases, we’ll complete the review within 5 business days and contact you with any next steps.
Access to E-MTA (Estonian Tax Portal): To file reports on your behalf, Enty will ask for access to your Estonian Tax and Customs Board account (e-MTA). Granting our accountants access enables us to submit your VAT returns and other declarations directly and correctly. Just follow the short step-by-step guide to grant accountant access securely and confirm the action completed on your side. We For annual reports, we may also request access to the e-Business Register and will ask you to digitally sign the annual report before submission
Previous Accounting Reports: To ensure a smooth transition from another accounting firm or software, we’ll help you transfer important accounting files. First, ask your accountant to determine the handover date, a date when your previous accountant finishes their work—ideally the last day of a reporting period. This helps avoid gaps or overlaps in responsibility. Then request and upload key accounting reports (such as General Ledger, Balance Sheet, Profit & Loss / Income Statement, Fixed Assets Depreciation Statement, Accounts Payable & Accounts Receivable Debts) as of the handover date. Enty will take over your company’s accounting from the start of the next month after switching. (If you need us to cover the current or past month’s accounting, that’s possible for an extra fee)
Bank Connection or Manually Uploaded Statements: To ensure accurate and timely accounting, you’ll need to either connect your business bank accounts to Enty’s platform (securely integrated with 100+ banks) or upload your bank statements manually each month (in CSV or XML format). Thanks to PSD2 regulations, your financial data stays fully protected. When you connect your bank, you’re only granting Enty view-only access for a limited number of days—we can’t modify or initiate any operations. Once your consent expires or is revoked, you’ll simply need to reconnect your bank to keep the data flowing.
Once these pieces are in place, you’re officially onboarded! From here, accounting becomes a collaborative process between you and Enty. In simple terms, your job is to supply the transaction data and supporting documents nd answer any questions about transactions, and Enty’s job is to organize and review your documents, do the bookkeeping, and prepare & submit the required accounting reports to authorities.
Enty isn’t just a DIY software – it’s a full accounting service with real experts behind the scenes. This means we thoroughly check everything to ensure your declarations truly reflect reality and comply with Estonian rules. During onboarding, we’ll set clear expectations on what we handle vs. what you need to do in the monthly or yearly cycle (we detail this in the next section). With the groundwork completed, you can feel confident that your company’s accounting is in good hands from day one.
3.2. Responsibilities of the Company and the Accountant
Accounting with Enty is a team effort. Certain tasks are handled by you (the company) and others by your dedicated Enty accountant. We also have smart automations to ease the workload. Let’s break down who is responsible for what:
Your responsibilities (Company Owner):
Provide Complete Information: Make sure all business transactions from all company’s bank accounts are captured. This means keeping your bank connection active by reconnecting it when requested or manually uploading all bank statements in csv on a monthly basis, and uploading invoices/receipts for each relevant transaction. Essentially, for every sale or purchase, there should be a supporting document (invoice, receipt, contract, etc.) for our accountants to work with.
Timely Document Sharing: Upload your documents on time each period. For monthly VAT accounting, for example, you must provide the previous month’s documents by the 5th of the following month. (We’ll remind you – see our timeline in section 3.3.) Staying punctual ensures we can submit reports by deadlines.
Respond to Queries Promptly: If our accountants have any questions or need clarifications, try to respond quickly. During processing, we might ask about an unfamiliar transaction or request a missing invoice. Quick answers help prevent delays.
Maintain Accuracy: Ensure the data you provide is accurate and complete. Double-check that you’ve included all business accounts, and the documents you upload match the transactions (correct amounts, dates, etc.). If something changes (new bank account, new source of income), inform us so we can account for it.
Review and Approve: For certain filings like the annual report, you’ll need to review the prepared report and give your approval (and e-signature) before we submit it officially. We’ll notify you when something is ready for your sign-off.
Pay Taxes on Time: When a tax payment is due, we’ll send you a payment link. This link is valid for 3 days only, after which it expires and must be refreshed. Make sure to pay on time using the most recent link to avoid penalties or delays.
Enty’s responsibilities (Accountant):
Document Processing & Bookkeeping: Enty’s accountants will review all your submitted documents and transactions. We match each transaction with its supporting document and verify everything is in order (correct invoices, proper bookkeeping entries, etc.). Our team follows Estonian accounting standards and double-checks that the records make sense.
Categorization and Accounting Entries: We take each transaction and categorize it to the proper account (e.g., marking revenue vs. an expense type, classifying assets, etc.). Enty’s system often auto-suggests categories, but our accountants ensure they’re correct. For example, if you paid a freelancer, we’ll record it as a service expense. If something looks off, we might reject a document or recategorize a transaction and then explain the change to you in the app.
Compliance & Reporting: Enty prepares all required tax declarations and financial reports for you. This includes monthly VAT returns (KMD forms), annual reports to the Commercial Register, payroll tax declarations (TSD) if you have salaries, and any OSS/IOSS reports if applicable and included in your subscription. We fill out these forms with the data from your books and submit them to the authorities on your behalf (once everything is approved and ready). We are committed to filing only accurate, compliant reports – we won’t submit a declaration until all supporting info is correct and complete.
Communication & Advice: Your Enty accountant or client manager will update you if anything’s missing or needs fixing. You’ll now see missing or rejected documents highlighted right in the relevant accounting folder of the Accounting service in the app – with clear explanations. We’ll also send reminders when we need anything from you. And if you have questions, feel free to reach out – your plan includes consultation time (see section 3.6).
Enty’s automation (What the platform handles for you):
Transaction Imports: By connecting your bank accounts, Enty automatically fetches your latest transactions and up-to-date balances daily. This spares you from downloading and uploading statements each month from different platforms. If you have many transactions, we can also import those via integrations or CSV – ensuring no transaction is overlooked.
Smart Categorization: Enty uses AI and customizable rules to auto-categorize transactions whenever possible according to your custom Revenue and Expenses structure. For instance, if you always pay a certain supplier, the system can learn to tag that expense appropriately. You can even set custom rules via workflows in Transactions anf Finances sections (e.g., always categorize “AWS” charges as “Web Hosting”) and Enty will apply them automatically. This reduces manual bookkeeping work and speeds up the process. We automatically set categories to transactions that do not require supporting documents, such as Incoming/Outgoing internal transfers, Taxes, Cashback, etc, so you do not have to manually tag those transactions “Document not needed”. This works other way around: if you set up auto-categorization, custom workflows and apply mass action when clearing your transactions, this not only manual bookkeeping work and speeds up the process, but will provide you with instant Financial Dashboa
Document Matching: When you email a PDF invoice to your designated Enty address (mailer) or upload it in bulk in the Accounting section, the platform attempts to match it to the correct transaction. This auto-matching means fewer manual steps for you to attach documents. Our OCR technology reads uploaded documents to help link them to the corresponding entries.
Reminders & Alerts: Enty will send you reminders when the document deadline (e.g. the 5th of the month) is approaching, or if you have transactions without documents as the reporting date nears. We use email and in-app notifications to nudge you so that nothing falls through the cracks. Additionally, our system now shows a clear status of each reporting period in your dashboard – you’ll see which transactions still need attention, so you can fix them promptly
Always-On Calculations: Behind the scenes, Enty constantly updates your financial reports (like profit & loss) and metrics on financial dashboard as transactions come in. This means that even before official reports are filed, you have an up-to-date view of your revenues & expenses at any time. We’ll talk more about theFinances overview you get in section 3.4.
By clearly understanding these responsibilities, you can see that your job is mainly to keep info flowing to Enty, and our job is to handle the heavy lifting of accounting. We’ve built checks and automations to support you at each step, making the whole process as smooth as possible. You’re never alone in the process – think of Enty as your accounting department, working alongside you to keep your company compliant and financially organized.
3.3. Our Deadlines
Timing is everything in accounting. Enty follows a well-structured monthly and yearly timeline to ensure all reports are submitted on time. Here’s how our internal deadlines and reminders work, and what to expect each cycle:
Monthly Accounting Cycle (for VAT-registered companies): If your company needs to file monthly VAT returns (KMD declarations), the official due date is the 20th of each month for the previous month’s activities. To meet this, we set an earlier internal deadline: please upload all previous month’s invoices and ensure to have an active bank connection or uploaded CSV bank statements by the 5th of the current month. For example, for January’s VAT report due February 20, you’d provide all January documents by February 5. After the 5th, Enty’s accountants begin processing your data. Between the 5th and 15th (approximately), we’ll verify transactions, reach out with any questions, and ensure everything is in order. If some documents are missing or issues arise, we’ll send you reminders or mark it in the app for you to address. We generally aim to have the return finalized a few days before the 20th, so you have time to review if needed. Once the declaration is ready, Enty will submit it on your behalf to the Tax Authority by the 20th. You’ll receive a confirmation and an email with the tax amount due and a convenient payment link so you can pay any owed VAT directly online.
Annual Accounting Cycle: Every Estonian company must file an Annual Report for each financial year (typically the year-end is Dec 31, making the report due by June 30 of the next year). Enty’s internal deadline for annual report data is March 31. By 31st March, we ask you to provide the full year’s bank statements and all supporting documents for the prior year. This gives us April–May to compile your annual accounts, draft the report, and resolve any questions. We’ll prepare the balance sheet and income statement (and management report if needed) and send it for your review. You’ll then sign the annual report (using your digital signature) so we can file it to the Commercial Register well before the June 30 deadline. If your company’s financial year is different or you started mid-year, we’ll adjust accordingly (for instance, a company established in July might include its first half-year in the next full year report).
Payroll (TSD) Timeline: If Enty handles your payroll and you pay salaries or board member fees, there’s a monthly deadline for TSD declarations (salary tax reports) on the 10th of each month for the previous month’s wages. We will usually gather any needed salary info at month-end or very early in the month, prepare the TSD, and submit it by the 10th. Ensure any changes in salaries or new hires are communicated before month-end so we can include them. (All Enty plans include filing TSD for one employee; see section 3.5.)
Reminders and Waiting for Input: Enty uses automated reminders to help you stick to these timelines. Expect a polite email or notification as the 5th (monthly docs deadline) or 31st March (annual docs deadline) approaches, listing any missing items. If the date passes and we’re still waiting on something, we’ll follow up promptly. Our new dashboard features also highlight any transactions missing documents or any rejected docs that need fixing, in real time.. We typically wait until all critical documents are in before finalizing your report – we cannot submit a tax declaration that isn’t fully supported, as that would risk non-compliance. This means if you’re late with documents, your report submission could be delayed and you would face late submission fee from Enty.
Consequences of Delays: What if you miss Enty’s internal deadlines? If documents come in past the 5th (or past Mar 31 for annual), we will still do our best, but we cannot guarantee on-time submission of the official report or the declaration. The responsibility ultimately lies with the company to file on time, so missing deadlines puts you at risk of penalties from authorities and late -submission fees from Enty. For instance, the Tax Office may impose a fine (starting around €150) for late VAT returns. Rest assured, we’ll warn you if a deadline is in jeopardy. In cases where info is very delayed, we may advise you on next steps (like filing a correction later, if needed).
Finalizing Reports and Tax Payments: Once everything is in order, Enty submits your declaration (VAT, annual report, etc.). We will send you a confirmation and details of any tax payment required. For taxes like VAT or payroll, you’ll get an email stating the amount due and a direct link to pay via the Tax Authority’s system. This link makes paying easy – just click and approve the payment. (The link does expire in a 3 days for security, but if it lapses, we can always send a new one.) For the annual report, if corporate income tax is due on distributed profits, we’ll guide you on how and when to pay (note that in Estonia, undistributed profits are tax-free, so many small companies owe no tax with the annual report).
In summary, Enty’s timeline is designed to give you ample time to provide info and to give us enough time to do quality work. Regular reminders and our interface’s status updates will help keep things on track. By respecting these timelines, you’ll avoid last-minute stress and penalties, and your company will stay fully compliant. We’re here to help you every step of the way, making sure no deadline is ever a surprise.
3.4. How to Do Reporting in the Enty Interface
One of Enty’s strengths is our user-friendly interface that lets you stay on top of your accounting without needing deep accounting knowledge. Here’s a guide on using Enty’s platform to manage your transactions and documents for accounting purposes, and to view on-demand financial reports:
Getting Started: What You Need to Provide
Before your reports can be generated, you need to complete one important pre-accounting step: provide a full list of all your business transactions and financial documents for the given accounting period. This includes bank transactions, invoices (both issued and received), contracts, receipts, and any documents that represent a financial liability or revenue. These should be provided completely and on time. To make this process efficient, Enty gives you intuitive tools for uploading data and tracking what’s already been submitted.
Keeping Transactions Up to Date: The first step is making sure all your business transactions from all of business bank accounts are reflected in Enty. You have a few convenient options:
Bank Connection:The easiest method is to securely connect your business bank account to Enty. Transactions will sync automatically every day — no manual work required. Each payment, transfer, or client receipt will show up in Enty without delay. We support most major EU and UK banks, and connection takes only a few clicks through our secure flow. You can also connect multiple accounts (including different currencies) to get a full picture of your financial activity.
CSV or Manual Uploads: If your bank doesn’t support integration or you prefer manual control, you can upload bank statements in CSV format directly in the Accounting section. Just drag and drop the file, and Enty will parse it into transactions. This method still provides great functionality — just remember to upload regularly (at least once a month) to keep your records complete.
Why keeping your transactions clean matters: Accurate and enriched transaction data helps Enty categorize automatically, apply your custom workflows, and match documents more precisely. Whether it's through automation or manual edits, improving the quality of your transaction records gives you better financial reports, clearer dashboards, and fewer questions from your accountant.
Gathering all supporting documents: Supporting documents are proofs of your financial activity — such as incoming and outgoing invoices, receipts, contracts, payroll statements, or loan agreements. These documents serve as the legal and accounting basis for each transaction and are used by accountants to validate and classify entries.
Bulk Upload Documents Directly in the Accounting Period: When you're working in a specific accounting period (e.g., January 2025), you can upload all your relevant documents in one go. Just drag and drop multiple files into the document upload area for that period. Once uploaded, Enty automatically scans each file using OCR (Optical Character Recognition) to extract key details like date, amount, and supplier.
Email Invoices to Enty: Each company on Enty has a unique accounting email address. Forward supplier invoices or receipts to this address, and Enty will add them to your document inbox. You can even share this email with frequent vendors or set up an auto-forwarding rule in your mailbox to automate document collection — no manual uploading needed.
Enty’s Invoicing & Contracts Tools: When you create documents using Enty’s invoicing or contract features, they’re automatically shared with accounting. For example, if you issue an invoice to a customer or sign a contractor agreement, those files are already stored and connected to your account. There’s nothing extra to upload — it’s all in one place.
Matching Transactions with Documents:
Once your documents and transactions are in the system, Enty tries to automatically match them based on key data — such as amount, date, and counterparty name. For example, if there’s a €100 transaction on Jan 10 from “Amazon Web Services” and you’ve uploaded an AWS invoice with the same amount and date, we’ll suggest a match. You can confirm or edit it.
Unmatched documents can be linked manually — just select the transaction and attach the correct file from your inbox. The interface is intuitive and similar to reconciling a bank statement: fast, clear, and audit-friendly.
Enty also flags any transactions that are missing a supporting document. These appear with a special “Attach” button. You can filter for “Missing documents” to quickly find any gaps. If a document has been rejected by our accountant — for instance, because it's blurry or incorrect — you'll see a note explaining the issue and can re-upload a better version.
Stay Informed with the Dashboard: Keep an eye on the Accounting section for status updates. It will show a timeline or status bar for each period (month or year), indicating whether everything is collected or if something is still pending. This real-time feedback loop ensures you and your accountant are always on the same page before filing.
Responding to Accountant Questions: If your accountant needs clarification, they might leave a comment directly on a transaction or send a message via email. For example:“Do you have an invoice for this bank transfer?” You can reply ito the email, leave a comment on the transaction inside the app, or attach an additional file. There’s also a live chat if you need help. Clear, in-app communication helps move the reporting process forward faster — and keeps everything traceable.
Viewing Ready Reports & Paying Taxes: Once your reports are ready, you’ll find them in the Reports or Declarations tab of the Accounting section. You’ll see status indicators like “Ready to file,” “Submitted,” or “Waiting for documents.” For annual reports, you’ll be prompted to review and approve the draft. If there are taxes to pay, Enty will send you an email and show payment instructions in the app. Thanks to our integration with e-MTA, you can usually pay directly from the link, which takes you to a pre-filled payment form on the Tax Authority's website. If you prefer a manual transfer, we’ll provide all the required info — amount, reference number, and bank account.
Your Real-Time Financial Health: Enty isn’t just a accounting tool — it’s your mini-CFO. In the Finances dashboard, you can instantly see your Profit & Loss for the current year or recent months, updated automatically as you categorize transactions. You’ll also see visual summaries of cashflow, income and expenses, broken down by category or counterparty in the Overview, Revenues, Expenses tab of Finances service. No need to wait until year-end — you can monitor trends, spot issues, and make business decisions with real-time financial insights. For example, quickly see how much you spent on marketing last quarter, or track whether your sales are growing month over month.
The Enty interface is your all-in-one command center for business accounting. By regularly syncing your transactions, uploading documents, and checking your dashboards, you’ll make your monthly and annual reporting smooth and stress-free. The platform guides you at every step and alerts you when something is missing. Whether you're a founder or a team member handling admin, you can stay on top of your finances with confidence — no accounting degree required.
3.5. Our Accounting Pricing Plans
Enty offers flexible pricing plans for accounting to fit the size and needs of your business. Each plan comes with a specific service level and set of included features. Here’s an overview of what’s included in each plan:
Annual Reporting
Starting from €51 per month (or €612 per year). Ideal for companies without a VAT number and with low transaction volume. This plan covers:
Full year-round bookkeeping
Preparation and submission of the annual report
1-hour consultation with an accountant per year
It’s a great option for holding companies, pre-revenue startups, or businesses with only a handful of transactions and no need for monthly filings.
Monthly Reporting
Starting from €93 per month (or €1,116 per year). Best for actively trading SMEs with a VAT number. This plan includes:
Monthly VAT return preparation and filing
Full annual report submission
1-hour accountant consultation per month
It’s ideal for service-based or product-selling companies that have crossed the €40,000 VAT threshold and need ongoing compliance.
E-commerce Plan
Starting from ~€110 per month (or €1,320 per year). Designed for online sellers and SaaS companies. It includes everything in the Monthly plan, plus:
Handling high-volume transactions
Support for e-commerce integrations (Shopify, Amazon, Stripe, etc.)
Extra document volume for sales and platform fee breakdowns
It’s tailored for businesses needing platform-specific logic and bulk CSV imports.To check the precise pricing based on your transaction volume and platforms, use the E-commerce Calculator.
Included in All Plans:
Payroll for 1 person included (e.g., board member or employee with salary)
Support for multiple currencies and multi-bank account consolidation
Use of Enty’s automated tools, including smart document matching and AI-powered categorization
Document Limits
Each plan includes a specific document package (invoices, receipts, etc.):
Annual Reporting: 30–60 documents/year
Monthly Reporting: 15, 30, or 50 documents/month
You can always:
Upgrade to a higher package
Or pay €5 per extra document
The monthly fee covers the ongoing support, advice, and report filing. We do offer some extra services outside the subscription, such as additional consultations (if you need more time with an accountant beyond what’s included) or extra payroll or handling of special cases (e.g., if you want us to retrospectively fix last year’s books, or process an unusually large volume one-off).
Enty supports cryptocurrency accounting for companies transacting in crypto. Due to the additional complexity, crypto accounting is priced at 2x the standard rates. If your business accepts or trades crypto, be prepared to provide detailed wallet/exchange transaction histories and balances. Our team is experienced in Estonian crypto reporting requirements and will guide you through the process step by step.
To stay compliant and avoid penalties, it’s essential to submit your documents on time. Enty sends multiple reminders. However, if reports are delayed due to late document uploads, a late submission fee may apply (typically starting from €50), and we cannot guarantee timely reporting to the Tax Authority. We strongly recommend meeting Enty’s internal deadlines (usually the 5th of the month or March 31 for annuals) to stay in good standing.
For the most current plan details, visit the official Enty pricing page.
Plan selector tips:
Just starting or low activity? → Annual Reporting
VAT registered and trading monthly? → Monthly Reporting
Selling online at scale? → E-commerce Plan
Enty’s pricing is fully transparent. No surprise fees. You’re always in control — scale your plan as your business grows, or downsize when things slow down. It’s simple, affordable, and designed for e-resident entrepreneurs.
3.6. Accounting Consultations
Have questions or need advice? With Enty, you’re not just getting software – you’re getting accountants who are available to consult with you. We understand that as a foreign business owner, you might have many questions about Estonian taxes, allowable expenses, dividends, salaries, and so on. Here’s how consultations work in Enty:
Included Consultation Hours: Every Enty accounting plan includes some free consultation time with our accounting experts:
Monthly Reporting and E-commerce plans: You get 1 hour of accounting consultation per month included. This means each month you can schedule a call or meeting with a professional accountant from our team – perfect for addressing any doubts or planning for upcoming business decisions.
Annual Reporting plan: You get 1 hour of consultation per year included. Many clients use this annual session to review their annual report or discuss tax strategies for the coming year.
If you’re not on an active accounting subscription (for example, if you’re on a basic “Lite” plan or just using Enty’s platform without the accounting service), consultations are not included for free. However, you can still book them when needed for an extra pay.
Booking a Consultation: To schedule your free included consultation (or an extra one), simply reach out to your client manager via Enty’s chat or email support. Let them know you’d like to book a meeting with an accountant . They will provide you with a booking link to choose a convenient time slot. The consultations are usually done via a video call. When booking, you’ll have the opportunity to share your questions or topics in advance– we highly encourage this! By telling us your questions ahead of time, our accountant can prepare and make sure to cover everything you need during the call, making the best use of your time.
Topics you can discuss: Anything related to your company’s accounting and taxes. Common examples include:
Clarifying a confusing regulation or tax rule.
Discussing the best way to record a certain transaction.
Planning for dividends or salary – what’s tax-efficient?
Expanding business to a new country – any accounting implications?
Getting guidance on VAT registration or deregistration.
Reviewing financial performance or unusual transactions.
No question is too small – we’re here to help you understand your finances. Our team speaks in plain language, not jargon, so you’ll get clear answers.
Extra Consultation Hours: If you’ve used up your included consultation time but still have more questions, you can always purchase additional time. For subscribed clients (Standard/Pro/E-com), additional consultations are available at €90 per hour. If you are not on a subscription or on a very basic plan, consultations are €160 per hour. We’ll always confirm any billable consultation with you beforehand, so nothing unexpected is scheduled.
For example, say you’re on the Pro plan (1h/month) but you have a major situation this month that takes 2 hours to discuss – the first hour is free, and the second hour would be billed at €90. We find that for most clients, the included time is sufficient in normal months, and occasionally they’ll add an extra hour during complex periods like year-end.
Maximizing the Consultation: We want these sessions to be truly helpful. That’s why we encourage you to gather your questions and even documents beforehand. You can send us an agenda or list of queries when booking. During the call, feel free to ask anything that’s on your mind – our accountants are not only experts in Estonian accounting, but also experienced in working with international entrepreneurs, so they understand cross-border concerns too. We’ll often share our screen or walk you through relevant sections of your Enty account if it helps answer your question.
No-Show and Rescheduling Policy: If you need to cancel or reschedule a consultation, just let us know at least 24 hours in advance.. We’ll happily rebook it. If a meeting is missed without notice, we count that towards your free hours (since the accountant’s time was reserved). But we understand life happens – communication is key. As long as you notify us, we can always adjust.
In short, consultations are your chance to get expert guidance and not worry about navigating complex accounting topics alone. We love when our clients use this time to become more informed business owners. Whether you’re curious about something or dealing with a challenge, don’t hesitate to book some time with us. It’s all part of the service to ensure you feel supported and confident in managing your company.
3.7. FAQ
Below we’ve compiled answers to some frequently asked questions about accounting with Enty. If you don’t see your question here, feel free to reach out – chances are, many others have wondered the same thing!
Q: What documents do I need to upload for accounting?
A: Generally, you should upload any document that supports a transaction your company made. In most cases this means invoices – for example, incoming invoices from suppliers for your expenses, and outgoing invoices you’ve issued to clients for your sales. Other common documents include contracts, agreements or acts (for services or freelancers you pay), receipts (for smaller purchases, travel, etc.), and any official reports (like a sales report from an e-commerce platform for your online sales). Essentially, if money moved in or out of your bank account, there should be some record explaining why. A quick reference:
Purchases -> supplier invoice
Sales -> invoice you sent to customer (or sales report if many small sales)
Payment to a freelancer -> service agreement (and possibly a work completion document)
Salary payment -> an employment contract or board member agreement
Loan given or received -> the loan agreement
Expense reimbursements -> an expense report (e.g., business trip report)
Don’t worry if this sounds like a lot – once you get the hang of it, it’s routine. And remember, some transactions don’t need documents (see next question!).
Q: Do I need a supporting document for every transaction?
A: Not for every single one. There are a few exceptions where no document is required:
Transfers between your own accounts: e.g., moving money from your checking to savings account. No invoice needed since it’s internal.
Bank fees and commissions: Your bank statement line is enough evidence for a €5 bank fee.
Cashback or bonuses from banks: If your bank gives you a small cashback, you don’t need a document for that.
Currency exchange transactions: If you convert EUR to USD in your account, no invoice needed (the bank statement suffices).
Tax payments and tax returns: When you pay your tax bill, you don’t need an additional receipt – the fact that it’s paid to the Tax Authority is self-explanatory.
Enty’s service fees: We know when you’ve paid us, so we don’t ask you for an invoice for our own subscription fee.
For everything else, assume a document is needed. If you’re unsure about a particular transaction, check the Enty interface – it will indicate if a document is missing.
Q: What if I can’t find a document for an expense?
A: Sometimes you might be missing a document (we call this a “missing document” situation). For example, you lost a receipt or forgot to ask for an invoice. In Estonia’s accounting rules, every expense should be justified, but if you truly cannot get a document, you have two options: 1) Personally reimburse that expense to the company, or 2) have the company treat it as a non-deductible expense and pay 25% corporate income tax on it. Option 1 means you pay back the amount of the expense from your own pocket to the company (since it’s as if the company gave you money without proper reason). Option 2 means the company effectively pays a penalty tax for not substantiating that expense, and that expense won’t reduce your profit for tax purposes. Neither option is great, so it’s best to try to get all receipts if you can. But it’s good to know there’s a fallback – a missing taxi receipt for €10 is not the end of the world; you might choose to just reimburse €10 or let it be a taxable expense. Our accountants will advise which route makes sense in each case.
Q: What happens if I miss Enty’s document submission deadline (5th of the month or March 31)?
A: If you provide documents after the 5th of month following the reporting period, we cannot guarantee that your report will be filed on time. We will still do our best to complete it ASAP, but the risk shifts to you. Missing the deadline might mean the tax declaration is submitted late to the authorities, which could result in a fine from the Estonian Tax Office (government fines for late filing start around €150). Also, if filings are late repeatedly, it could raise compliance concerns. If you realize you’ll be late with something, inform us immediately – sometimes an extension or workaround can be managed. And if a deadline is missed, we’ll help you figure out the next steps (for example, filing a correction or an explanation to the Tax Authority).
If we have to submit a declaration for a previous month with a delay (i.e., together with the current month's declaration), an additional fee of €50 will be charged for the late submission. This late fee does not apply if only the current month's declaration is submitted late - meaning after the 20th, but before the 1st of the following month - as long as there are no outstanding declarations from earlier months.
To avoid any delays or extra charges, it's very important that we receive all necessary documents by the 5th of the month following the reporting period. These rules are part of our Enty Terms of Use (section 6.1.2) and have always been in place, but we are highlighting them now as they directly impact our ability to file your declarations on time.
Q: How do I pay my taxes once Enty has filed the report?
A: Paying taxes in Estonia is quite straightforward with Enty’s help. When we file a tax declaration (KMD, TSD, OSS/IOSS for example), we will send you an email summarizing the results, including the amount of tax to pay (if any) and a link to pay it online. That link is generated via the e-MTA (Tax Board) system. By clicking it, you can pay the tax through a bank link or card. The link does expire in a 3 days, so it’s best to pay sooner rather than later. If it expires, no problem – just let us know, and we can issue a fresh payment link. Alternatively, you can always pay manually by logging into the e-MTA portal or via bank transfer using the reference number – the email we send will have all the details you need if you prefer manual payment. Remember, Enty takes care of the filing, but the actual payment of taxes is done by you (the company). We make it easy by giving you the info and links, but we don’t pull funds from your account (we’re not authorized to do that). So keep an eye on those emails to ensure you complete the payment by the due date. We’ll usually remind you if a tax payment date is nearing and our records show it unpaid.
Q: Will Enty also handle payroll and salary taxes for my company?
A: Yes. All Enty accounting plans include processing payroll for one person (this could be you as the board member or one employee). This means we will prepare and file the monthly TSD declaration that reports salaries and calculates income tax, social tax, etc., up to one person on payroll. If you have more than one person, we can still handle it – it will involve an extra fee per additional person. When you onboard, we’ll ask if you plan to pay yourself or any employees. If yes, every month you just need to let us know the salary amount (if it’s fixed, just once is fine), and we’ll ensure the payroll taxes are reported by the 10th of the following month. We’ll also inform you how much tax to pay (similar to VAT). So, in short, yes, we do payroll as part of our service. If you ever have payroll-specific questions (like hiring, or how to compensate yourself), bring them up – that’s exactly the kind of thing our consultations can help with too.
Q: Can Enty handle cryptocurrency transactions and crypto accounting?
A: Yes, we do offer crypto accounting services. Many e-resident companies deal with cryptocurrencies, and we’re familiar with how to account for them under Estonian law. The main difference is that due to the extra complexity, crypto accounting is priced at 2× the normal rate. (So, if you have significant crypto activity, your fees might be higher than the standard plan quotes – we would discuss and agree on this based on volume.) The accounting process for crypto is similar to regular accounting: you’ll need to provide transaction lists from your crypto wallets/exchanges, along with starting and ending balances for the period, and any invoices if you sold crypto as a service/product. We treat those records like bank statements. We recommend keeping clear records of any crypto trades, conversions, or payments. Enty can handle popular scenarios like crypto trading, accepting crypto payments for your business, or paying suppliers in crypto – just be prepared that we’ll need all the data (dates, values, what was bought/sold) to do proper reporting. If you’re planning to operate in crypto, mention it during onboarding so we can set up the process with you.
