Accounting for small companies and starting businesses

The traditional service is directed, for the most part, towards smaller businesses, whose accounting organisation requires less than the full load of one Accountant and an actual saving is achieved through the service. Accounting in the physical sense is, in general, organised in the company offering the service. A company must gather together the original documents for the period and submit them to the Accountant. The Accountant processes the received original documents and prepares the reports for the period for the company, the Tax and Customs Board and other parties, as agreed upon with the Client. Based on the wishes of the Client, the Accountant also executes payments and other accounting and financial management related works.

Solutions for bigger companies

Slowly, but surely, larger companies are beginning to understand that the outsourcing of accounting services may be a very wise choice for their company. The only thing they need to change is the way they think. Most of the time, the question is about convenience. In and of itself, it is convenient if one has their own Accountant – at a random time the person is available to prepare reports, hold meetings, etc. But if you think about it, is this efficient? Job related expenditures, monthly wage costs, a headache in finding people and keeping them happy – isn’t there something better you could be doing with that time? If accounting is not you company’s principal activity, then perhaps … is. The outsourcing of accounting services is increasing in popularity and is a sure way to reduce expenditures on accounting while at the same time not making any concessions in regards to your requirements for accounting; if so, then perhaps in convenience. Even though they are integrated, take place over the Internet and are secure, information system solutions reduce this to a minimum. There is also the opportunity to outsource one part of the company’s accounting – such as the organisation of the head Accountant’s job duties or, conversely, the organisation of sections of accounting (e.g., the sales ledger) by RevalHansa. Naturally, it is possible to implement full service, i.e., total company accounting is bought in as a service, which leaves the opportunity to focus entirely on principal activities.


An important criterion when selecting the software used in the organisation of the Client’s accounting is the nature of their economic activity. Accounting is organised mainly in HansaRaama, which has currently proven to be a reasonable solution in terms of price as well as quality. Based on need, it is possible to produce various reports in order to analyse the prosperity of the business. It is also possible to export all reports into Windows Excel, for example. With the aid of HansaRaama, it is also possible to offer Clients services and access to the programme via the Internet. The accounting for some of our Clients is organised using domestic Directo Internet based software.

We have found Taavi Palk software to be a suitable solution for performing wage accounting.

Internet based solutions

Since April 2004, we have also offered accounting services over the Internet. Various integrated solutions have been prepared in cooperation with Clients, from the right to view simple reports all the way to full services, where the Client issues their own sales invoices and we enter purchase invoices, bank account receipts and payments and perform reports, calculate taxes and submit the required tax returns.

In practically all cases, solutions taking place over the Internet have brought additional value to the entire process, which is one of our main goals. Larger Clients often find it difficult to decide in favour of accounting services because they lacked the opportunity to be present with the company’s data at all times. By using over the Internet solutions this worry has been resolved. The accounting software HansaRaama and Directo support have been used for the most part as a system.


The prices of services are divided into two – periodical service and special works. The price of periodical works depends on the company’s accounting volumes, i.e., the number of documents that require processing. In the case of extraordinary works, the price of the service forms based on agreements.

Further information on the price formation structure below:

Periodical service

Commencement fee

Contains: Initial consultation service for Clients, the preparation/specification of an office plan and accounting internal provisions, initial set-up of the Client’s accounting software system, entry of initial balances related to the condition taken over and other onetime necessary initial operations.

Base price – monthly payment

Contains: organisation of periodical accounting in accordance with the contract. As a brief summary, includes a monthly fee for periodical as well as standard accounting, performing monthly declarations and submitting them (value added tax return, income tax/social tax declaration) and standard reports (income statement and balance sheet).

Annual report fee

Includes the preparation of the annual accounts. The fee is one time for each year and is equal to the monthly fee rate for the service.

Special services

Includes separately ordered works and services by the Client. Special services are paid for at the end of the period or completion of the work based on a separately concluded agreement. Expenses paid on behalf of the Client shall be compensated based on the Contractor’s invoices. The following shall be observed in the calculation of the service fees: – the complexity of problems being solved, – the level of skill/knowledge/experience of persons participating in the performance of the work, the time spent by the Contractor’s specialist on the performance of the work; Special Services include also the preparation and submission of Statistics Estonia and Bank of Estonia reports based on separate agreements with the Client.


Based on an agreement, we will pick up the original documents personally. Meetings generally take place 1-2 times per month, approximately 1 week prior to the declaration date.