Small business accounting

What small business accounting includes

The monthly fee covers all of your day-to-day bookkeeping:

• preparing source documents and recording transactions
• maintaining and checking the general ledger
• payroll and payroll taxes
• tax accounting and filing the payroll tax return (TSD) and VAT return (KMD) with the Estonian Tax and Customs Board
• reports for the manager: sales and purchase ledgers, income statement, balance sheet
• preparing payments
• preparing the annual report (billed by the hour, €55 + VAT/hour)

The fee depends on how many documents and employees you have and how much ongoing work we agree on. The full list is on the bookkeeping and accounting page.

How much small business accounting costs

We bill in one of three ways: by the hour (€40 + VAT), by the number of entries (€1.55 + VAT per entry), or as a fixed monthly fee. For a small company the monthly fee usually works best:

• 1–2 salaried employees, ~30 documents a month – €80–95 + VAT per month
• 5–6 employees, ~100 documents a month – €320–560 + VAT per month
• dormant company, nil returns only – €25 + VAT per month

All pricing examples are on the pricing page.

How we work together

We keep your books in Merit Aktiva and run payroll in Merit Palk. You get a free limited login for raising sales invoices and tracking payments. You send us your invoices and receipts by e-mail, as e-invoices or to a shared folder. Every month you get the agreed reports and a tax summary.