Accounting prices
The price of monthly bookkeeping in Estonia depends on how many documents (invoices and receipts) and employees your company has, and how much day-to-day work we agree on. We bill in one of three ways: by the hour, by the number of entries, or as a fixed monthly fee. All prices exclude VAT.
Hourly rate
€40 + VAT / hour
Bookkeeping. Annual report preparation €55 + VAT/hour, advisory and other services €55–95 + VAT/hour.
Per entry
€1.55 + VAT / entry
If your entries average more than 2.5 lines each, we count the lines instead and divide by 2.5 to get the number of entries.
Fixed monthly fee
€80 + VAT / month
Minimum monthly fee by agreement. If your company is dormant or barely active but nil returns still have to be filed, the minimum monthly fee is €25 + VAT.
Pricing examples
Annual report for a small company
How long an annual report takes depends on the amount of data and work, the balance sheet items and the notes. For a small company, the annual report takes 2–4 hours. Fee €75–160 + VAT.
If we need to send out balance confirmations or do reconciliations, adjustments, calculations, write-offs and the like, allow 8–16 hours. Fee €320–640 + VAT.
Example 1: fixed monthly fee
- 1–2 salaried employees (including holiday pay and other pay)
- ~30 documents a month
- No daily or fixed-day work agreed
- Payroll tax return (TSD) and VAT return (KMD) filed with the Estonian Tax and Customs Board
- Tax summaries and payment orders prepared for you
- Agreed reports for the manager straight from the software (sales and purchase ledgers, income statement and balance sheet, or trial balance)
Monthly fee €80–95 + VAT.
Audited annual report
For companies that must be audited, the fee depends on the actual amount of work, including gathering the materials, dealing with the auditor and answering their questions.
To prepare the report, we check and verify the general ledger balances, reconcile and confirm balances, post year-end entries (adjusting balances where needed), make corrections, amend tax returns if necessary, and then prepare the report and send it to management and the owners for review, with explanations.
If needed, we go through the figures with management before the annual report is signed and filed.
Example 2: fixed monthly fee
- 5–6 salaried employees (including holiday pay and other pay)
- ~100 documents a month
- No daily or fixed-day work agreed
- TSD and KMD returns filed with the Estonian Tax and Customs Board
- Tax summaries and payment orders prepared for you
- Agreed reports for the manager straight from the software (sales and purchase ledgers, income statement and balance sheet, or trial balance)
Monthly fee €320–560 + VAT.
Software fees
If we keep your books in Merit Aktiva and run payroll in Merit Palk under AR Tähelend OÜ's main license, there is a one-off setup fee of €70–85 + VAT for opening your company database (Merit Aktiva alone, or Merit Aktiva and Merit Palk).
A limited user login (for creating sales invoices and tracking payments) is free.
Additional user (can view all transactions and reports and/or enter agreed data): €150 + VAT per year. This may change if Merit Tarkvara AS changes its package or additional-user prices. Database fees follow the Merit Tarkvara AS price list.
To send e-invoices you can choose between operators and, if needed, sign a contract with them directly. The e-invoice operators in Estonia are Omniva, Telema and Fitek.
Sending e-invoices has been a paid service since May 2020.
E-invoices are charged according to the operators' price lists. If your books are kept in Directo, the monthly fee follows the Directo OÜ price list.
With the Directo business software, the monthly fee starts at €149 + VAT (for one legal entity, up to 3 concurrent users).
Example 3: fixed monthly fee
- 10–20 salaried employees (including holiday pay and other pay)
- Sales invoices raised by the company itself
- Bank transactions and supplier invoices handled daily (receipts, purchases, payments, etc.)
- Contract-based transactions recorded
- Fixed asset register
- Business travel expenses
- Loans and interest
- Reporting by project, cost center, object or other dimension
- TSD, KMD, VD and INF returns filed with the Estonian Tax and Customs Board
- Reports to Statistics Estonia based on the financial data
- Agreed reports for the manager straight from the software (sales and purchase ledgers, income statement and balance sheet, or trial balance)
Monthly fee €880–1,600 + VAT.
Frequently asked questions
How much does accounting cost for a small company?
The minimum monthly fee is €80 + VAT. For example, a company with 1–2 employees and ~30 documents a month pays €80–95 + VAT; a company with 5–6 employees and ~100 documents pays €320–560 + VAT. We give you an exact price once we've seen how much work your company involves.
What is the hourly rate for accounting services?
Bookkeeping €40 + VAT per hour, annual report preparation €55 + VAT per hour, advisory and other services €55–95 + VAT per hour.
How much does the annual report cost?
A small company's annual report usually takes 2–4 hours, so €75–160 + VAT. If balance confirmations, reconciliations and adjustments are needed, it takes 8–16 hours, so €320–640 + VAT. For an audited report, the price depends on the amount of work.
What does the monthly fee include?
The monthly fee covers entering your documents, running payroll (including holiday pay and other pay), filing the TSD and KMD returns with the Estonian Tax and Customs Board, tax summaries and payment orders, and the agreed reports for the manager (sales and purchase ledgers, income statement, balance sheet or trial balance).
My company is dormant. Do I still have to pay?
If the business has stopped or is barely active but nil returns still have to be filed, the minimum monthly fee is €25 + VAT.
Which accounting software do you use?
We keep the books in Merit Aktiva and run payroll in Merit Palk. The one-off setup fee for opening the databases is €70–85 + VAT; a limited user login (creating sales invoices, tracking payments) is free, and an additional user with full rights costs €150 + VAT per year.
How do I get a quote?
Write or call. We'll go through how many documents and employees your company has and what you expect from us, and give you a firm quote. Get in touch.
