Sole proprietor (FIE) accounting
For sole proprietors (FIE) we keep the income and expense records, keep track of the quarterly social tax prepayments and prepare the business income part of your income tax return. We bill by the hour or as a fixed monthly fee.
What sole proprietor accounting includes
- records of business income and expenses (cash basis)
- keeping track of the social tax prepayments (in 2026 a sole proprietor's social tax for one quarter is €877.14)
- VAT accounting and the VAT return (KMD), if you are registered for VAT
- form E (business income) of the income tax return
- advice on which expenses count as business expenses and how to document them
Sole proprietor or private limited company?
Whether to carry on as a sole proprietor or set up a private limited company (OÜ) is one of the questions we hear most. The answer depends on how much you earn, whether you have employees, and the risks involved. We talk it through as part of our advisory service (€55–95 + VAT/hour).
Frequently asked questions
Does a sole proprietor have to keep books?
Yes. A sole proprietor is an accounting entity and must keep records of income and expenses to file the income tax return and pay taxes.
How much does sole proprietor bookkeeping cost?
The hourly rate is €40 + VAT. A sole proprietor with few transactions usually needs a few hours a month; with more volume we agree a monthly fee.
Which software do you use?
We keep the books in Merit Aktiva and, if you have payroll, run it in Merit Palk.
Other services for your company
- Small business accountingSmall companies
- Accounting for a start-up companyNew business owners
- Accounting for non-profit associations and foundationsNon-profit associations and foundations
- Annual report preparation and filingCompanies, non-profits, foundations
- Accounting for e-residents and foreign-owned Estonian companiesE-residents and foreign owners of Estonian companies
- Payroll services in EstoniaEstonian companies with employees
- VAT registration in EstoniaEstonian companies and their owners
