We have registered companies in Estonia and been engaged in making changes to the Commercial Register of Estonia since 1993. Since 1996, accounting services have become our core activities. 27 years of experience in business and accounting helps us render quality and professional services. The number of customers who entrust us with the conduct of accounting and legal matters of their companies keeps growing every year.
In addition to accounting services and maintaining of tax records, Punamoon OÜ provides other services to support business. They are as follows:
We will not abandon you during the tax audit, we will represent you in court, be helpful in resolving labor disputes with an employee, escorting the non-resident to the bank, if necessary, as well as organizing an audit and appointment at the notary for you. The mission of Punamoon OÜ is to render the customer a service package and give advice by skilled staff on all business matters in one place, thus affording them an opportunity to focus on addressing dedicated issues and spare the time searching for a specialist or conducting interviews.
The greatest value of our company is our professional staff. It so happened that we do not have staff turnover, which in turn works to our benefit and helps serve customers and deal with their problems to the best advantage. As of 2017, the total accounting service record (in Punamoon and prior to Punamoon) of all employees is 123 years, the average track record of an employee in our company is 6.5 years.
In addition, we keep the changes in legislation under steady watch and bone up at workshops and seminars.
Our clientele is construction companies, international carriers, clothing shops, furniture manufacturers, programmers, shipbuilders, service companies, tourist offices and businesses specialized in steelwork, online marketing, beekeeping, wholesale and retail trade, etc. Thanks to our expertise in accounting of companies with different business profiles, we are well aware of the specific nature of your company and your business needs. We are familiar with the nuances and statutory and taxation requirements for different business profiles.
Our clientele consults us on accounting, taxation and commercial law for free and to the extent they need.
By entrusting Punamoon OÜ with the accounting records of your company, you automatically resolve the issue of finding a qualified staff, since we will deal with this issue ourselves. When choosing team members, we know what to look for in CV, what questions to ask in order to test knowledge in accounting and taxation, what traits of character are suitable for the accountant’s work, since we understand the specific nature of accounting and are hands-on accountants ourselves.
Staff of Punamoon accounting and legal office shows excellent teamwork. Interchangeability of staff is organized in any situation. We do not rest, we do not go on child care leave, we do not go on sick leave, we do not change work. We are always beside you: on the spot, or within call or letter. With us there is no cause for anxiety, since all tax returns are submitted on time and the accounting records are as right as rain.
Throughout our activity in Estonia there has not been a single year without changes in laws in the field of accounting or taxation. There is no cause for anxiety in this regard, as we constantly monitor changes in laws. We make changes in the accounting program, train our team, keep our clientele up to date. You will not need to delve into the nuances of accounting and tax records, we will do it for you.
Would you like having a single person or a team of professionals working for you?
With Punamoon OÜ services, you may rest assured that you have multiple professionals working for you. Our entire accounting and legal staff is ready to deal with your tasks. Our wealth of hands-on experience allows us to arrive at a solution even in the most difficult and abnormal situations. The total track record of our accountants is 123 years. Professional accountants engage not in a single, but in 15-20 companies with different business profiles, different transactions that are subject to a wide variety of taxation and reporting options. We make about 20 000 postings, run payroll calculations for 800 employees, submit about 350 declarations on a monthly basis. We provide about 200 annual statements on an annual basis
It is more expensive to have a full-time accountant or lawyer on a permanent basis, than maintain in the accounting or legal firm. Not every company can afford a skilled staff, with novice accountants and lawyers occasionally using the “trial and error” method in their work in the absence or lack of experience, which is typically even more expensive in the future.
Having a contract with Punamoon OÜ on hand, you cut the costs of the company associated with the permanent maintenance of a full-time staff, exclude monthly payments of their wages, leave, sick benefits and bonuses. You will spare the cost of purchasing transaction ledgers, installing and maintaining a special program, refresher training, arranging a work site and renting premises.
Amount of fines:
Each non-submitted declaration – EUR 100 and above
Each non-submitted EKOMAR statement – EUR 300 and above
No entry in the Labor Register – EUR 1,300 and above
Under Estonian law, it is the board member of the company who shall be held fully liable for the company operation. For example, if an accountant as a full-time staff has made a mistake, it is still the board member to assume liability in this regard. The board member is responsible for the organization of accounting in the company and, therefore, has chosen the “wrong” accountant.
Having a service agreement with Punamoon OÜ, you shift responsibility on us for the correctness of accounting and reporting. Our agreement on accounting and legal services clearly spells out the core responsibilities of the parties, performance time and liability that occurs for non-compliance with the obligations assumed. Under the agreement, we are responsible for our performance and guarantee strict confidentiality.
How do you think, who will respond better in case of an accounting error: Your full-time accountant from own funds or an accounting company that has serious financial assets? The answer is obvious.
Geographically, our customers are in Estonia, Russia, USA, Latvia, Lithuania, Switzerland, Italy and other countries. With our clientele we speak in Russian, Estonian and English. Documents are transferred and kept using mail, e-mail, Dropbox and other customer solutions. Thanks to the development of the banking electronic system and state electronic services, the board member of Estonian company may carry on business and correspond with us from almost any corner of the world.
There is an opinion that outsourcing of accounting services is suitable for small businesses only. Our experience shows that outsourcing will suit not only small, but also medium-sized businesses subject to correct organization. For example, we keep books, run payroll calculations and submit tax returns to businesses with 200 employees and above.
Until 2017, we had zero promotional expenses, with customers coming to us solely upon the recommendations of colleagues and friends.
In the annual survey of our customers in 2017, almost all of the respondents indicated that they came to our company upon the recommendation. One customer indicated that they had learned about us from their guardian angel. 🙂