Basics
How To Open A Business Account With Uber To Get Proper Invoices?
Unlike other ridesharing providers such as Bolt, Uber does not provide you with proper invoices by default. If you order a ride with Uber, you will get a receipt like this one: Uber receipt As you see, this is not a valid invoice for your business. It is missing important pieces of information such as: Seller info Buyer info Invoice number Tax information (VAT) ToSome readersWhat Happens if I Upload Invoices From Previous Accounting Periods Late?
Accounting in Estonia is done every month and the deadlines for submitting your report are very strict. We only have a couple of weeks to do the bookkeeping and generate the reports and invoices of thousands of customers. Even applying modern-day automation techniques, as in Companio, takes a little time. That's why we ask you to upload all the invoices from your previous month (sales invoices and purchase invoices) up to the 5th of the following month. If your bank account does nFew readersCan I Upload Multiple Invoices in a Single PDF?
Unfortunately, you can't, as we calculate your monthly fee in proportion to the number of invoices you've issued. Keep in mind that if you upload a PDF with several invoices, it will cause problems. There are two possible scenarios: If our accountants ignore the other invoices attached to the document, this can lead to errors in your accounting, incorrectly submitted reports to the authorities, and having to do the accounting again for the affected periods. Consequently, you will havFew readersDo I Need to Justify All Invoices and Bank Movements?
In order to perform the accounting correctly, each and every bank movement in your corporate account must have documentation to support or justify it. The Estonian authorities are very strict in that regard. Each payment to suppliers needs a purchase invoice, and all earnings from customers need an income invoice. Salaries must be declared as such, as well as dividends. Everything else, you must inform us so that we know how to declare them. The golden rule is: each invoice must have a bankFew readersWhat Is the Late Document Penalty, and How Does It Affect Me?
As we explain in this article, uploading documents late prevents us from being able to comply with our obligations and submit your TSD (taxes), and KMD (VAT) reports in time. This is a problematic situation. In the best-case scenario, we need to redo your accounting for those periods. In the worst-case scenario, your company will need to pay taxes for any invoice or moveFew readersHow to Appeal the Rejection of a Document in Companio?
Has your invoice been rejected, and do you believe there has been a misunderstanding? Here's how to appeal the rejection of a document in Companio: Steps: Log in to Your Account: Access your Companio account using your credentials. Go to the Invoices Section: Navigate to the "Invoices" section on the main dashboard. Find Your Rejected Document: Rejected invoices will be clearly marked in the corresponding section, either "Purchases" or "Sales." Review the ReasoFew readersHow To Import Your Invoices In Companio With The Automatic CSV Invoice Import Functionality
The CSV Invoice Import Functionality allows our PREMIUM users to add all their invoices from a CSV file directly from the dashboard. Our system will parse a specially crafted CSV file and generate the invoices contained therein in PDF, adding them to your sales invoices automatically. Prepare the CSV report First, you need to prepare the CSV document. There is a specific format you need to follow to define your invoice entries. You can find the CSV template here (https://api.companio.co/uFew readersHow to Handle Business Expenses When Your New Business Has No Revenue
Starting a new business often means you won’t have immediate revenue or a reliable source of income until you begin to attract clients and gain traction. In such situations, you might wonder how to cover your business expenses. There are several ways to do this, and some are more advisable than others. Methods We Don't Recommend (or Support) One method we don’t recommend involves transferring money to the company as a "business loan" and then paying it back later. This approach is not sFew readersHow To Match One Invoice With Multiple Transactions Or Vice versa?
To match one invoice with multiple transactions, follow these instructions: 1. Upload your invoice to the Companio dashboard. Go to the Sales or Purchases section (depending on the type of your invoice) and use the "Upload" button to go to the document uploading area. Drag and drop your invoices there. Ensure you note whether you are uploading the invoice for the current month or the previous one to easily locate the document later in your list of invoices. 2. Match the invoice wiFew readers
Purchases
How to deal with refunds and chargebacks, and what are credit notes?
Refunds of Company Expenses If a company that charged you for a product or service issues a partial or full refund for any reason, here's how to proceed: You will have received an initial invoice from that provider for the original amount your business was charged. Let's say it was for 1,000€, so you have an outgoing payment of 1,000€ and an invoice for that amount. When they issue the refund for a certain amount, let's say 100€, you need to request a credit invoice from them for that amouSome readersWhat Happens if I Have a Business Expense but Don’t Receive the Invoice Until Later?
It may happen that your company buys something and does not receive your invoice later. But what can you do if it's quite a long time, like a month or two? Ideally, this should not happen and you should avoid doing business or buying from these types of providers. A supplier must issue an invoice shortly after you make the payment. However, if it is something punctual, it is not a serious problem. The Estonian Tax Office says that if the expense document (which meets the requirements of § 37Few readersHow to Upload and Match Google Ads and Google Playstore Ads Invoices?
When you have a Google Ads account, Google App Ads account, or Google Playstore account, you may notice that the monthly invoice does not reflect the expected amount. This is because Google operates by increasing the balance each time you make a payment, and then deducts the payment for campaigns, clicks, and other expenses. Consequently, the balance is modified, and only then can you see the resulting invoice, as the image below. (https://storage.crisp.chat/users/helpdesk/website/6b9fcFew readersCan I Pay an Invoice Using the Company's Bank Account?
You can pay 50% of your invoice using the company's bank account for subscription services, such as internet service providers. For this, the invoice must be in your name, and you can manually add the company's name and indicate that you are covering 50% of the total amount.Few readers
Troubleshooting
My invoice was rejected, why?
Our tireless Accounting Guardian constantly checks that your invoices are accurate. If it detects that an invoice is incorrect, it will mark it as rejected and notify you so you can replace it with a proper invoice. Let's explore some typical examples: Non-business expenses Bad quality photos of receipts List of payments Screenshots of payment emails or confirmation screens (2-screenshots-of-paymenFew readersWhat Should I Do If I Made a Personal Expense Using My Corporate Card?
If you find yourself in a situation where you have used your corporate card for a personal expense, there are two actions you can take: Make a Refund to the Corporate Account (Recommended) The best approach is to refund the exact amount of the expense to the corporate bank account from your personal bank account. When making this transfer, it's crucial to label it clearly with the note "Refund for personal expense on DD.MM.YYYY." Afterward, kindly allow 24-48 hours for Companio to dFew readersDuplicate 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 readersWhat Can I Do If My Invoice Has Been Rejected?
If your invoice has been rejected or deemed invalid, you will receive an email informing you of the situation and which invoice or invoices are affected. The first step is to understand why the rejection occurred. Generally, this is because the uploaded documents are not valid or correct invoices. They may be screenshots of payments, personal expenses (such as coffee, meals, or cinema tickets), low-quality photos of receipts, or unreadable docuFew readers
Company in Estonia
What are deductible expenses?
Deductible expenses are those that can be assigned to the company, that is, paid by the company and deducted as a business expense. Thanks to the innovative Estonian tax system, these expenses are exempt from taxes. They are considered money that you are reinvesting in the company. Basically, it is any expense related to your activity that does not imply that you have a permanent establishment in another country, to avoid considering your company a tax resident there. Let's see some exaSome readersOut Of Pocket Expenses. Definition & How to Declare Them
What Are Out Of Pocket Expenses? The Estonian business system is very flexible and offers many advantages for entrepreneurs. For example, imagine Ana forgetting her business card on her trip to San Francisco and needing to pay a business expense. What can she do? No problem. Ana can pay that expense with her personal credit card or cash, but ask for an invoice for her company and then tell us that she paid that with her personal money. We will declare that expense as “out-of-pocket expensesSome readersWhat expenses are NOT deductible?
Here are some examples of expenses that are not considered deductible: Fuel, and car trips within the same country. Travel between countries to visit clients is deductible, but to prevent you from using your car for personal use, fuel expenses within your country are excluded. However, public transportation is always deductible. Food, meals, drinks, lunch expenses. Vacations and pleasure trips, obviously. And also be careful if you decide to “visit a client” from December 24Some readersIs AirBnB a deductible expense?
Yes, it is, as long as your accommodation is useful for the company's objectives or is necessary for your activity. This includes travel to attend conferences or meet with your startup team to work on a project. You have to keep three things in mind: The maximum time to be able to declare an accommodation in AirBnB (or any other place) outside of Estonia as a deductible expense is 6 months per year. This is because if you have been in that accommodation for more than 6 months, so it wouldFew readersCan I Pay Bills With My Personal Finances?
Yes, you can! For example, imagine you forget your business card on a trip to San Francisco and need to pay for a business expense with it. What can you do? No problem! You can pay for this expense with your personal credit card, or even in cash, but remember to ask for an invoice for your company and then let us know that you paid it with a personal account. We'll report that expense as "out-of-pocket expenses," and you can get that money refunded to your personal bank account taxFew readersHow To Match An Invoice I Paid With My Personal Funds?
Imagine the situation: you go on a business trip to Rome to work for a client, and you inadvertently pay for the flight tickets with your personal card (or you don't have access to your business card at the moment). As you know, this is totally fine, it's called Out of pocket expenses, and you can refund the money later from your corporate account to your personal account. But how do you match the invoice, given thatFew readers