Skip to main content Skip to search

Setting up a company in Eestonia

We can help you to set up everything that needed. Starting from company secretarial services to find a location for you.

And of course accounting. This is part of business, that is mandatory to do and it relies on the framework of accounts, that holds revenues, expenses, assets, liabilities and owners equity. This framework is called chart of accounts. So, this is where it all starts. Based on the company`s business, we help to make needed chart of accounts!

If the chart of accounts is ready, the accounting can begin. Accountants use this chart of accounts to identify transactions as they record them in the company’s general ledger.

General ledger

General ledger is the base document for all accounting. All the financial transactions are represented there and all financial reporting is based on this.

Accounting system setup for new business to master your company

Transactions are posted to the general ledger accounts, and the accountant generates a trial balance, a report listing all the accounts and each account’s balance. The trial balance is adjusted by posting additional entries, and the adjusted trial balance is used to generate the financial statements.

Financial statements

The objective of financial statements is to provide information about the financial position, performance and changes in financial position of an enterprise that is useful to a wide range of users in making economic decisions.

There are four kinds of statements. Balance sheet, income statement, statement of cash flows, change in equity.

Budgeting

Also very important task, if you want to be in top of the game. All predetermined goals are more likely to achive than just doing something. Also this gives very good knowledge, if some of the recources are in lack or missing .

Accounting system setup for new business can be built all online! Contact us, to get an offer for that!