ACCOUNTING SERVICE FOR COMPANIES
Regardless of the size or the property type of your company, you will need an accounting service. The duty of arranging accounting service lays on the member of the board of the company. You will need a regular tax declaration to the Tax Department, employment agreements registration in the Employment Register and statistical reporting. By the end of the operational year company must present annual report to the Business Register, regardless of its activity during the year.
In case you turn to professionals, accounting bureau will be in charge of all mentioned above responsibilities. We will provide you an accounting service that will allow to make successful managerial decisions as well as get funding for your business projects from the banks and other credit organizations, based on the forecasts and statistics of the previous years.
We recommend to turn to accounting bureau to young entrepreneurs with no or lack of business experience. As a rule, in these cases companies do not require monthly service, though you will be supported by free consultations regarding main documentation principles and taxation system. Although, it will be obligatory to make an agreement for the annual maintenance for the Business Register report.
In conformity with the latest changes in the Law on Accounting, the firms in Estonia are divided into: micro enterprises, small enterprises, medium-sized enterprises, large enterprises, small consolidated groups, medium- and large consolidated groups and large consolidated groups, according to their financial performance .
In accordance with the size of your company you will need a specific state reporting. The companies of the medium size or more do not require accounting bureau service, but must hire a specialist in the field of accounting for daily operations. For micro and small companies the best choice would be monthly maintenance with preparations of tax declarations and annual reports.
RESTORATION OF ABANDONED ACCOUNTING
If you have got any financial difficulties and issues with accounting, there are several ways to solve the situation. The worst solution is to do nothing, so that you will end up with tax and creditors debts, or financial reporting liability. Creditors will take measures for collecting the debts, and in case of no annual report the state imposes the penalty. For this reason the smartest solution is to turn to a professional accounting bureau, as well as a law company, for finding effective solutions.
We offer restoration of abandoned accounting in order to eliminate debts in financial reporting. In our practice we have seen companies where the owners tried to maintain accounting on their own or trusted unprofessional service, what was leading to the loss of the control over the company finance situation. The sooner you turn to professional accounting bureau, the less chances you have to pay any penalties.
It is not a secret that tax optimization may significantly decrease company costs. That’s why for avoiding tax risks it is necessary to consult with the specialist while creating any business project. In case of non-standard operations we recommend to consult with the specialists before taking any actions.