Annual Report Preparation: How to Make the Process Fast and Painless

The period from January to June is the busiest time for accountants and business owners in Estonia. To ensure that filing your annual report doesn't turn into a last-minute rush in June, preparation should begin well in advance. High-quality preparation is not just about filling out tables in the Business Register; it involves a deep audit of all financial documentation for the entire year.

Checklist for Successful Report Preparation:

• Reconciliation with the Tax and Customs Board (MTA): All data provided in monthly declarations (TSD and KMD) must exactly match the final figures in the annual report. Any discrepancy will attract the attention of tax inspectors.
• Inventory of Assets and Liabilities: Verifying balances in bank accounts and cryptocurrency wallets, as well as reviewing accounts receivable and accounts payable.
• Checking Audit Thresholds: In Estonia, the law clearly defines when a company is required to undergo a full audit or a review. The deciding factors are your turnover, total assets, and the number of employees.

The Role of Fedelta Accounting in Data Verification

Our experience allows us to look at your report through the eyes of an inspector. We conduct an internal audit of your documents before they become public.

• Analysis of Accounting Documents: Evaluation of primary source documents from the perspective of regulatory authorities, ensuring correct formatting and completeness of data.
• Prior Period Adjustments: If an error was made in a previous year, we will help you officially correct it in the new report.
• Consultations on Profit Distribution: We assist in calculating dividends, formalizing the profit distribution resolution, and declaring dividend payments correctly.

🔗 Your annual report is your business's calling card. Make it flawless with the professionals at Fedelta: 🔎 GET A CONSULTATION