At Companio, keeping your accounting accurate and up to date depends on having the right documentation available at the right time.
This Invoice Late Upload & Financial Period Lock Policy explains when purchase and sales invoices must be uploaded, how grace periods work, when accounting periods are closed, and what happens when transactions remain unmatched after the applicable deadline.
The policy applies to Companio’s active accounting plans in Estonia, including Pro, Premium, Ultra and Freelancer. It does not apply to the Virtual Plan, as this plan does not include accounting services.
The rules described below are enforced automatically through the Companio platform and form part of the conditions applicable to the relevant accounting plans.
All purchase invoices relating to a given month must be uploaded to Companio before the 5th of the following month.
For example, if a purchase transaction takes place in July, the corresponding invoice should be uploaded by August 5th.
Providing invoices on time allows transactions to be correctly matched and keeps your accounting records complete and up to date.
If purchase transactions remain unmatched after the initial deadline, Companio provides an additional grace period.
On the 6th of the following month, the platform will identify purchase transactions that are still not matched to an invoice and notify you.
The notification will include:
The estimated tax is calculated according to the applicable Estonian legislation and is provided for information purposes. The final amount may vary depending on the circumstances of the company.
You will then have until the 5th of the subsequent month to upload the missing invoices and complete the necessary matching.
If a purchase transaction is still unmatched when the grace period expires, the system will automatically classify it as a non-business expense.
This happens on the 6th of the subsequent month.
Once the transaction has been classified and the corresponding accounting period has been closed:
These rules are enforced automatically at system level and cannot be manually overridden by the Client or by the Companio accounting team.
December follows a different timeline because the financial year must be closed.
For purchase transactions from December:
Once the year-end period has been locked, it cannot be reopened through Companio.
Sales invoices are checked automatically when they are uploaded to Companio.
Whether an invoice can be accepted depends on its issue date and whether the corresponding accounting period is still open.
The following rules apply:
| When the invoice is uploaded | Invoice issue date | Result |
| 1st–5th of the current month | Previous month or current month | Accepted |
| 6th–end of the current month | Current month | Accepted |
| 6th–end of the current month | Previous month or earlier | Rejected — Out of Date |
| Any day of the current month | Two or more months earlier | Rejected — Out of Date |
These rules prevent invoices from being added to accounting periods that have already been closed.
If the issue date of a sales invoice belongs to a closed accounting period, the platform will reject the invoice as Out of Date.
You will then be able to:
If you change the invoice date, your customer must receive an updated version showing the new date. Where available, Companio can send the updated invoice to the customer automatically.
Until the corresponding invoice is correctly matched, the unmatched sale transaction will be recorded as a Prepayment from customer.
Additional rules apply at the end of the financial year because unresolved transactions from a previous year cannot remain pending indefinitely.
If sales transactions remain unmatched as the year-end approaches, Companio will send notifications according to the following schedule:
At this stage, correcting the historical accounting may require the involvement of an external accounting provider, as the previous financial year cannot be reopened and corrected through Companio.
Keeping your corporate bank accounts connected to Companio is essential for maintaining complete and accurate accounting records.
If a bank account becomes disconnected, Companio will notify you and continue sending periodic reminders while the disconnection remains unresolved.
Your dashboard will remain accessible, but missing transaction data may prevent accounting and reporting from being completed correctly.
Once the bank account is reconnected, available historical transactions will be imported and processed automatically.
How they are handled depends on whether the relevant accounting period is still open.
Purchase transactions from open periods
The standard invoice deadline and grace-period rules apply. You can upload the corresponding invoices and complete the matching before the period closes.
Purchase transactions from closed periods
Transactions from periods that have already been closed will be automatically classified as non-business expenses. The closed accounting period will not be reopened.
Where applicable, these transactions will be included in the next available TSD report.
Sales transactions from open periods
The standard sales invoice acceptance rules apply.
Sales transactions from closed periods
Invoices with an issue date belonging to a closed period will be rejected. The platform will offer the available options described in Section 3 of this Policy.
If a bank account remains disconnected beyond the year-end deadline and unresolved transactions from the previous financial year are subsequently imported, those historical transactions may no longer be processed through Companio.
In this situation, you may need to engage an external accounting provider to correct the historical accounting records.
Financial period locking is enforced automatically by the Companio platform to prevent changes to accounting periods that have already been completed.
Once an accounting period has been closed:
Neither the Client nor the Companio team can manually override these system-level rules.
For a transaction occurring in month MM, the standard timeline is:
| Date | What happens |
| 5th of MM+1 | Deadline to upload purchase invoices from month MM |
| 6th of MM+1 | Notification sent for purchase transactions that remain unmatched |
| 5th of MM+2 | End of the grace period and final opportunity to upload missing purchase invoices |
| 6th of MM+2 | Remaining unmatched purchases are automatically classified as non-business expenses and the period is locked |
Year-end deadlines
| Date | What happens |
| January 9th | Final deadline for outstanding December purchase invoices |
| January 10th | Remaining unmatched December purchases are classified as non-business expenses and the year-end period is locked |
| December 6th, 14th and 21st | Notifications for unresolved year-end sales transactions |
| January 6th | Account may be flagged if sales transactions from the previous financial year remain unresolved |
To keep your accounting complete and avoid transactions being automatically classified after a period closes, you are responsible for:
If you notice that an invoice has been uploaded but remains unmatched, or if you are experiencing problems with a bank connection, please contact our customer support team before the relevant accounting period closes.
Once a period has been locked, it cannot be reopened.
This Policy applies to Companio accounting plans for Estonian companies where accounting activity is managed or processed through the Companio platform, including the Pro, Premium, Ultra and Freelancer Plans.
The Virtual Plan is excluded, as it does not include accounting services.
This Policy forms part of the contractual framework governing the applicable Companio accounting plans and should be read together with our Terms and Conditions.