Selecting the right accountant or bookkeeper for your business in Estonia

The hallmark of a distinguished accountant is a professional certification — a marker that denotes credibility and expertise. Much like how we prioritize medical practitioners with proper licensing, the same principle applies when selecting an accountant. We often resort to alternative solutions when conventional methods disappoint us or when we are prepared to take on higher risks. It’s only logical that a certified professional is entrusted with advising and servicing your company. This is especially important in the context of liberal Estonia, where accountants are not obliged by law to have a certificate for providing accounting services.

 

Taavi Tammoja – Partner of IBCCS Estonia

SELECTING THE RIGHT ACCOUNTANT FOR YOUR BUSINESS: KEY CONSIDERATIONS

Understanding your prospective service provider’s competencies is fundamental. It’s essential to ensure they possess substantial knowledge of tax regulations, the intricacies of your specific industry, and the capability to navigate unforeseen situations. Additionally, explore the range of other solutions they offer — this could span from human resources support and investment advice to legal assistance.

PRICE CONSIDERATIONS

Accounting service fees can vary significantly. Some professionals charge hourly, others price based on the volume of transactions, and there are those who employ a combination of both methods. Make it a point to understand the transparency of their pricing structure, and how their service costs may fluctuate in the future. Remember, the lowest fee isn’t necessarily synonymous with the best value.

MODERNIZATION AND WORK ORGANIZATION

The field of accounting has witnessed considerable advancements with the integration of modern solutions. It’s important to ask potential accountants about their preferred method of document collection. Do they favor in-person delivery, or are they comfortable using digital platforms like Google Drive or Dropbox? Determine how reliant they are on software like Excel and ascertain if such solutions align with your business needs.

KEY QUESTIONS TO ASK

Ensuring clarity and transparency with your potential accountant is crucial. Consider these essential questions:

• Is the accountant readily available when needed?
• Can they provide immediate advice, or do they require additional time?
• Are their responses clear and straightforward, or do they become evasive?
• What is their communication method with the Tax and Customs Board?
• Have they ever been subject to an audit or tax audit process?
• When can you expect to receive monthly tax information?
• How are your documents stored and backed up?
• Are you confident that your business secrets are secure?

IBCCS ESTONIA

At IBCCS Estonia, we pride ourselves on our professional team, which includes certified accountants and international tax advisors. We offer transparent pricing structures and employ modern, cloud-based accounting software, ensuring we are always up-to-date and ready to serve your business needs.