HomeApartment associations
Accounting for apartment associations. €3.94 per apartment a month.
We advise the management board at no extra charge. We keep the books for more than 25 apartment associations (KÜ) with 1,200 apartments in total. We have worked online across Estonia since 2009. We work in English, Estonian and Russian.
Work out the fee for your building. All you need is the number of apartments.
Examples
If the building has 25 apartments or fewer, accounting costs €100 a month.
€3.94 per apartment a month, with a minimum of €100.
An enquiry does not commit you to anything. We will confirm the fee and send you the contract.
The only extra charge is for catch-up accounting, if reports for past years have not been filed.
The chair does not have to deal with the accounts alone. All of this is included in the fee.
- Invoices to apartment owners every month, including e-invoices (e-arve)
- Records of payments and arrears
- Korto licence
- Payroll and employee registration
- Tax returns
- Annual report
- Reports for the management board
- A statement of arrears for an apartment if its owner does not pay
- Correspondence with the Tax and Customs Board and the Non-profit Associations and Foundations Register
- Received a letter from the register or the Tax and Customs Board? Forward it to us.
- Accounting and tax advice for the management board
The only extra charge is for catch-up accounting, if reports for past years have not been filed.
Korto for the management board and owners. Included in the fee.
In Korto, the management board and apartment owners can follow the association’s affairs. It works on a phone or a computer and is available in English, Estonian and Russian.
The association’s finances
Every owner can see how much money the association has in its bank account.
Meter readings
Owners enter their meter readings on their phone, so there is no need to send them by email.
Notice board
The management board posts notices, and owners can get important ones as notifications on their phone.
Voting
The annual report can be approved by an electronic vote, without calling a general meeting.
How to change accountants without losing anything
Enquiry
Work out the fee in the calculator and send an enquiry using the form below, or write to us on Telegram.
Contract
We confirm the fee and agree the month we start from. We sign the contract online.
Handover
We send you a list of what to get from your previous accountant and help with the handover of documents.
First month
From the agreed month, we issue the invoices to apartment owners. We answer the management board’s questions by email, on Telegram or by phone, usually within a day.
How much does accounting for an apartment association cost?
€3.94 per apartment a month, with a minimum of €100. For a building with 60 apartments, that is €236.40 a month. The Korto licence is included in the fee. No VAT is added to our fees. You can work out the fee for your building in the calculator above.
Does an apartment association have to file an annual report?
Yes. Every apartment association must file one, whatever its size. It is due within six months of the end of the financial year, usually by 30 June. The general meeting approves the report first. We prepare it for the meeting and file it with the register once it is approved. This is included in the fee.
How does the management board draw up the budget plan (majanduskava)?
The management board draws up the budget plan, and the general meeting approves it. If we keep the association’s books, we give the board last year’s costs for the building, item by item, and the board bases the plan on these figures.
How does an association change accountants, and how does the handover work?
The association signs a contract with the new accountant, and the previous accountant hands over the documents and accounting data. We send you a list of what to get from them, agree the month we start and help with the handover. If something is missing, we tell you where to get it.
How can an association recover arrears from an apartment owner?
First, remind the owner of the debt in writing. If they still do not pay, claim the debt through the court, for example in the expedited procedure for payment orders. We keep track of payments, so we see any arrears, and we prepare a statement of the apartment’s arrears for the court.
Can the association pay the chair of the management board, and what taxes apply?
Yes, if the general meeting has approved the payment. Income tax is withheld from it, and the association pays social tax on it. We work out the taxes and file the TSD (the monthly return for payroll taxes).
Do you work with associations in other cities?
Yes, we work online across Estonia. We sign the contract remotely and receive documents by email or through our Telegram bot. If you would rather meet in person, we will agree a time and place. We can meet at our office in Ahtme, or we can come to you in Tallinn and other cities. Our Accountant in Tallinn page explains how we work with associations in Tallinn.
How to reach us. Write to us even if you are not a client yet.
We usually reply within a day.
- Phone and Viber
- +372 5303 9873Viber
- Telegram
- @geoksvara
- info@geoksvara.ee