Expenses paid from a personal account

If you have to pay expenses of a limited liability company from your personal account and you want to be reimbursed by the company, you need to submit an expense reimbursement application. The application should include the details of the expense, the payer, the amount paid, and the justification for the payment. Additionally, the original purchase receipt must be attached.

The purpose of the expense reimbursement application is to document and justify why you had to pay the expense from your personal account.

How to Add a Company Expense Paid from Your Personal Account to Our Service:

1. Fill in the expense claim form found in your UKKO account (Reports and Documents → Documents) with the required details and save/print it as a PDF or image file. You can add multiple purchases to the same expense claim, even if they were made from different vendors.
2. Create a new expense in your UKKO account and attach the completed expense claim along with all original receipts for the purchases.
3. For the purchase location, select one of the companies where you made the purchase (this allows you to report VAT in the expense entry).
4. In the expense description, mention that it is an expense reimbursement and that detailed breakdowns can be found in the attached expense claim.
5. Break down purchases by VAT rates within the expense entry:
   • Add one line for purchases with a 25.5% VAT rate.
   • Add another line for purchases with a 14% VAT rate.
   • The expense claim form automatically calculates the totals for each VAT rate, so you do not need to add separate lines for each individual purchase—though you may do so if preferred.
6. Once the expense entry is completed, transfer the total amount of the expense claim from your company’s bank account to your personal account. When the payment appears in your UKKO account transactions, match it to the expense entry.

In cash-based accounting, purchases are recorded in your company’s accounts on the date the amount was transferred from your company’s bank account to your personal account (this date also determines when VAT is recognized).