How to use the cash account in a limited company

If your limited company receives or uses cash, you need to have a cash account enabled in the service. Once the cash account has been activated, you can record income and expenses paid in cash as paid from the cash account.
 

Activate the cash account

1. Send an email to osakeyhtio@ukko.fi and let us know that you would like to activate the cash account.
2. We will activate the cash account in your service.
3. Once the cash account has been activated, you can record cash payments and cash expenses in the service.
    

How to record income or an expense paid in cash

1. Create an income or expense document in the service as usual.
2. Attach the original receipt or another document related to the payment.
3. Explain in the description how the income or expense is related to your business activities.
4. When you mark the document as paid, select Paid from cash account as the payment method.
5. Add the actual payment date and amount, and mark the document as paid.
    

Submit a cash account report every month

If you use a cash account, submit a monthly cash account report to osakeyhtio@ukko.fi.

The report must show:

• the cash account balance at the beginning of the month
• money received during the month, such as cash sales
• money paid from the cash account during the month, such as business expenses paid in cash and cash deposits into the bank account
• the cash account balance at the end of the month.

Submit the cash account report by the 15th day of the month following the reporting month. By this date, your bank transactions must also have been processed and the month confirmed.

A late fee in accordance with our price list will be charged for reports submitted late.
 

When you deposit cash into your company’s bank account

Record deposits from the cash account into your company’s bank account in the service so that the deposit is allocated correctly.

1. Create a new income entry.
2. Attach a sales report or cash account report covering the period for which you are depositing cash into the bank account.
3. Select Other income as the income type and 0% as the VAT rate.
4. In the description, explain which period the cash sales relate to. Clearly state that the deposit consists of funds from the cash account.
5. Match the bank account transaction with the income entry and save the entry.
    

Please also note

Using a cash account requires regular reporting. Make sure that all cash transactions have been recorded in the service before submitting the monthly report.
 

If you need help

If you are unsure whether your company needs a cash account or how to record an individual cash transaction, contact our customer service at osakeyhtio@ukko.fi. If possible, include a description of the situation and attach the relevant receipt, sales report or other supporting document.