Grow is expanding We are pleased to announce that E-accounting and JV and Partners are joining the Grow group. The expansion will allow us to streamline our operations and offer additional services to our customers. What does joining mean for our customers? A larger team and customer base create a good foundation for optimizing our operations and developing even more effective systems. For example, we currently have a specialist whose main task is to deal with various […]
Author Archives: ulvi
Grow likes modern solutions in accounting and related areas. Fax and landline are history for us today. We switched to modern technology and started using the Elisa Ring service. As a user of this service, it does not matter which phone number or device you use in your work. From now on, we will only use mobiles. By calling our general number +372 5629 3090, you can direct the call to your […]
The need for finance professionals in Dublin has increased significantly. Robert Walters also predicts a high demand in the coming years, especially in the fields of internal auditors and regulatory accounting. Employees with strong analytical skills are in demand - people with a background in pure mathematics, statistics and other quantitative sciences find good jobs in finance. The same trend is also in Estonian accounting. The accounting of the future is increasingly […]
The inclusion/non-inclusion of training and travel expenses in the company's expenses must be carefully considered. In particular, it must be considered whether and how much of a part leisure time constitutes and whether this entails additional expenses. The argument is certainly not that company X includes all its ski holidays in expenses. However, it would also be wrong to claim that all seminars outside the workplace should be taxed as a fringe benefit. Here […]
The taxation of sick leave compensation in terms of payments made by the employer has been confusing for many. We are adding some clarifications. The employer must pay the employee a compensation of 70% of the average salary from the 4th to the 8th day of illness. The compensation is only subject to income tax. Social security, funded pension and unemployment insurance contributions are not paid from this compensation. To clarify the law: § 122 of the Occupational Health and Safety Act (OTSA) also allows the employer to pay compensation […]
Grow Finance participated in the GGI Europe conference, which aims to increase cooperation between accounting firms from different countries. The conference took place from April 21 to 24 in Warsaw. Nenad Pacek gave a very inspiring macroeconomic overview of the direction the world economy is moving in. He currently advises global business leaders in more than 380 different international companies. He is the founder and president of Global Success Advisors. He was a member of The Economist Group for 20 years […]
At the end of January, a meeting took place with the Director General of Statistics Estonia, where I presented ideas that you would like to see changed in the collection of statistical data. I would like to thank everyone who submitted their suggestions. The main topic was the poor reporting of statistical data and, as a result, Statistics Estonia’s future plans. It is highly likely that a penalty payment will be applied for failure to submit reports. The latter will certainly cause headaches for those submitting data, especially due to unreasonable deadlines and the amount of information to be collected […]
Grow accounting services in the AAA credit rating class. We were pleasantly surprised today when Bisnode Estonia sent us a certificate, where Grow Finance was recognized as having the highest AAA credit rating in 2015. One of Grow Finance's main roles, besides accounting, is financial consulting. Therefore, I believe that such a certificate of our activities adds confidence that Grow is also able to provide high-quality financial support to other companies. Grow' le […]
Grow, in collaboration with Investly, wants to start offering its accounting clients an integrated invoice sales solution. The invoice sales service is particularly suitable for companies with long payment terms that want to receive money faster. We talked to Investly about their new service and found out how invoice sales can benefit a company. What is Investly invoice sales and what invoices can be sold on the platform? Invoice sales help a company […]
This morning we received a completely normal envelope in the Grow mailbox, which I assumed would contain normal invoices. But ahhhhhh this surprise, the normal invoices were accompanied by such a nice cover letter – “Have a nice day in the company of Pertti's receipts”. I felt like the whole room was immediately filled with sunshine. Of course, I immediately shared this sunshine with all our growitars. I would like to thank all our creative customers who shared their joy […]
What to look for when classifying service contracts as employment and board member contracts: companies that have provided services issue invoices to the service recipient every month and generally in the same amount; companies provide services only or predominantly to one service recipient during a certain period of time; the service provided to the service recipient by the members of its board on behalf of the companies is the advice of the service recipient in the tasks they perform as board members; the provision of services […]
The Supreme Court considered the services and fees provided to the company by the OÜs of the board members to be an employment relationship and salary. The decision (3-3-1-25-15) was made on September 11. This is the first OÜ case to receive a final decision in which the court ruled in favor of the Estonian Tax and Customs Board (MTA). The Supreme Court concluded that the tax authority has the right to consider the service provision agreement between the company and the private limited company of a management member either as a board member agreement or […]
Imagine a company that develops world-class high-tech gadgets, but in accounting can only mediate paper or, at best, PDF invoices. This does not give the impression of a modern “technology company” if the company's support services remain from the time when “dinosaurs” still lived. In Estonia, it is estimated that only 10% of invoices are sent as e-invoices. Although most of the programs used technically allow this. Our practice shows that e-invoices […]
Grow partner in Finland Rantalainen is organizing a seminar “Business in Finland”, which is intended for companies already operating in Finland or those starting up. The seminar will take place on 20.05.2015 from 9.00 to 12.00, Pasila Valo talo 2nd floor, Radiokatu 20, Helsinki. Topics include: starting a company in Finland; accounting and payroll; auditing and related issues; […]
Grow joined the global association of leading accounting and consulting firms GGI. Being a member of the global top ten association, we can offer our clients international support in accounting and consulting in different countries. Through GGI, we have access to specialists in our field from around the world who can navigate local regulations and provide advice. We have also seen from our previous practice that by sharing our experiences in different […]
A check is one of the most annoying companions in our daily transactions. An excellent solution has been created in the Partner Card program for Kaubamaja Group’s loyal customers. By logging into the self-service portal, the user can see documents for all purchases registered with the partner card. Electronic checks can be downloaded in both PDF and CSV formats that allow spreadsheets. Added value of paperless accounting Most paper checks received from the cash register end up in the trash can behind the cash register. In paperless […]