Before submitting the annual report, it is recommended to also review the VAT statements. If you submit the VAT statement as a file or via an integration to the Estonian Tax and Customs Board (EMTA), the system automatically saves the statement and the period closing entry for the VAT accounts. […]
Warehouse and stocktaking
According to § 15 (3) of the Accounting Act, assets and liabilities must be inventoried at least once a year, before the end of the financial year. This also means you must physically check the inventory items. The goods in the warehouse must be counted to verify whether the actual […]
Fixed asset and assets report
If fixed assets have been recorded in the company, the data should be compared between the balance sheet, profit and loss statement and assets report. If the company has several types of fixed assets, their data will appear on different lines in the balance sheet, depending on the fixed asset […]
Trade creditors and prepayments to suppliers
Always compare the balance sheet and the purchase ledger as of the same date. Compare the total of the “Unpaid purchases balance total” in the purchase ledger with the closing balance of the balance sheet account 2310 Trade creditors. If the balances in the “Total sum” and “Remainder” columns differ […]
Receivables from clients and client prepayments
Always compare the balance sheet and the sales ledger as of the same date. Compare the “Unpaid invoices balance total” amount in the sales ledger with the closing balance of account 1210 Trade receivables in the balance sheet. If the “Total sum” and “Remainder” column totals differ in the sales […]
Transactions from sales or purchase invoices recorded in the wrong accounts
If the receivable amount from a sales invoice is posted to an account other than 1210 Trade receivables, it indicates that the wrong receivables account is set on the client card. However, if the sales income is posted to a cash account (the most common mistake), it means the wrong […]
Checking the balances of cash accounts (bank account, cash register)
Compare the bank account transactions in the main ledger with those in the online banking for the same period. Accounting -> Main ledger: select the account (example 1020 Bank account) and the period you want to check. If a company has multiple bank accounts, check the balances of all accounts. […]
Balance sheet is not in balance
If the balance sheet doesn’t balance, you need to find the reason. Check account 9999 Settlements of Accounts, this account must always be zero at the end of the day. If there is a balance, review the related transactions and make the necessary corrections. If new accounts have been added, […]
Importing bank transactions
Bank transactions can be imported into SimplBooks in three ways: If you have any additional questions, please write to us at support@simplbooks.ee
Turnover statement
Accounting -> Turnover statement The turnover statement provides an overview of account movements during the selected period. From – start of the period (by default, the beginning of the financial year) To – end of the period (by default, today’s date) Refresh – to update the data Filters – displayed […]
