One of the requisites to do your accounting, taxes and monthly VAT reports, is being able to have access to your banking movements.
This is because we need to match each expense and income with an invoice, salary or another accounting object. Estonian authorities are very strict when it comes to the accountancy of companies, so every movement has to be justified.
This access has to be secure, giving us read-only access to your banking information, without being able to modify or change anything or perform any unauthorized transfer. Fortunately, its system has been designed to do this securely.
So this permission will not give us the right to make any movement or transfer in your name, or the name of your company. We will only be able to access your movements for reconciliation and prepare -but not execute- your tax payments to the Tax Office.
Of course, such authorization can be canceled at any time.
Get The Ball Rolling!
How do we do it? The first step is to access the LHV interface. Once there we will go to the menu on the left, in the “INFORMATION AND SETTINGS” section, and select “Accounts and limits”.
In the “User and transfer limits” section, only your company should currently appear. We are going to add another user with limited access to the account, by clicking on “Add User” at the top right.
A new screen will appear where you have to fill in the details of the authorized person that we will send you in a private email. Don’t forget to ask us before completing this step.
Do not select “Right to conclude agreements” or “Right to view loan and lease agreements”. We do not need them, and our goal is having the minimum permissions we need to manage your accountancy.
It is important that you select “Access to account”, then in “Acceptance of payments” select the option “Preparation (0%)”. That alone will give us the right to prepare payments to the Tax Office, but only you will be able to accept and confirm these payments.
The next step is to review and accept everything. LHV will ask you to confirm by signing with your PIN2. Check that “Limits are valid for an indefinite period” is enabled.
And that’s it! Easy, right?
Help, I’m lost!
If you get lost or a step causes you problems. Do not panic! Do you have a geeky friend who can help you? If not, contact us and we’ll do it together, step by step, on Skype.