Basics

• What’s the Accounting Routine?

  In Estonia, accounting is done monthly, regardless of your sales or revenue, especially when you have VAT. Therefore, our accountants must keep your business's books up to date and submit the appropriate reports to the tax authorities monthly. Still, they cannot do it out of thin air! At the beginning of the month, they need access to documents from the previous month, namely, the invoices (sales and purchase invoices) and the bank movements (or bank statements) of the business during thatFew readers

• Which Transactions Require Document Matching for Bank Reconciliation?

  Several types of transactions require document matching for bank reconciliation. The following matching types may be encountered: Sales invoice: This refers to an incoming transaction resulting from a sale. An invoice containing the customer's data is required to reconcile this type of transaction, Purchase invoice: This refers to an outgoing transaction from a purchase. An invoice or receipt containing the seller's data should be provided to reconcile this type of transaction.Few readers

• Your TO-DO list

  It is helpful to have a TO-DO list to remember the important dates of the accounting routine: From the 1st to the 5th of the month: upload all invoices (and optionally bank statements of the previous month) Day 10th: if you have to pay TSD taxes (salaries and dividends), you will be asked to pay for them up to the 10th of the month. Day 20th: if you have to pay VAT taxes, you will be asked to pay for them up to theFew readers

• Reports & Taxes

  Once we submit your business's VAT and TSD reports, you may be required to pay taxes as a result of the operations performed by your business during the period. Suppose you collected more VAT from customers than you paid for. You will need to pay the remaining VAT to the authorities after submitting the VAT report. If you distributed dividends or paid salaries to members of the board or Estonian employees, you will need to pay taxes (the TSD report). Don't worry! Our accounting team will caFew readers

Invoices

• How to Upload My Invoices to Companio Monthly?

  Uploading your sales and purchase invoices and keeping the monthly accounting up to date is very easy if you do it with Companio! These are the steps to follow: Whether you want to upload your sales or purchase invoices, go to the left section and choose the respective tab. To upload sales invoices, select “upload” and drag and drop your files. You can select whether you want to upload them for the current or previous month. For purchase invoices, click on the "Upload invoicFew readers

• Duplicate Error Message When Uploading Invoices

  While uploading invoices to our platform, you may encounter an error message indicating that the invoice you are trying to upload is already duplicated. We want to clarify how this process works: The system not only checks the physical file name but also performs an internal check of the file's content. This means that if you receive a duplication notification, it could be because not only does the file name match but also because the content of that invoice is already recorded in our system.Few readers

• How Do I Send My Invoices to Companio Through Email Automation?

  Imagine 2 possible scenarios: Your company is paying a subscription for a service that sends you invoices every month by email. This means that every month you have to receive the email, download the invoice, access Companio and upload the invoice to the "Expenses" section. Your online store generates an email with a sales invoice every time a customer buys one of your products. Upon receiving this email, you must save the document on your computer and upload it later to Companio.Some readers