Limited company has a prepaid payment card in use. How should I add balance reloads and expenses paid with the card to the bookkeeping?

A prepaid payment card works much like a debit card, except that it is not linked directly to a bank account. Instead, you add funds to the card and use the available balance to pay for business expenses.

Companies may use one or more prepaid cards, such as Neste Prepaid or S-Business Prepaid cards.

Adding an expense for a balance payment to the card

Once you have added balance (funds) to the card and the payment appears in your company's account transactions, create a new expense in your UKKO customer account.

• Attach the receipt or invoice for the balance payment (loaded amount).
• Enter the company that received the payment as the as the place of purchase and add their Business ID.
• Select 0% VAT.
• Enter the amount loaded onto the prepaid card.
• In the description field, write: "Prepaid card upload of xxx euros.".
• Assign the corresponding account transaction to the expense (mark it as paid).

The balance (paid funds) itself is recorded as an asset on your company's balance sheet. The actual business expenses and any deductible VAT will be recorded later, once the purchases made with the card have been reported to us.

Adding a usage report or monthly statement

Please review the usage report or monthly statement provided by the prepaid card issuer and make sure it includes:

• Purchase dates
• Purchase amounts
• VAT information
• An itemized breakdown of purchases

If fuel purchases have been made for multiple vehicles, please ensure that the vehicle registration numbers are included in the report. This helps us allocate and record the expenses accurately in your accounting records.

If you make a new balance upload and add the usage report during the same month

If you reload balance to the card during the same month that you receive the previous month's usage report, create a new expense voucher for this balance amount paid:

• Attach the receipt or invoice for the new balance payment (loaded amount).
• Also attach the previous month's usage report or statement.
• Enter the company that received the payment as the place of purchase and add there Business ID.
• Select 0% VAT.
• Enter the amount loaded onto the prepaid card.
• In the description field, write: "New prepaid card upload of xxx euros and previous month's usage report with VAT breakdown attached (total balance spent xxx euros)."
• Assign the corresponding account transaction to the expense (mark it as paid).

The new balance reload will be recorded as an asset on the balance sheet. The purchases shown in the attached report will be recorded as business expenses, any deductible VAT will be applied, and the balance sheet asset will be reduced by the amount spent.

If there is no new balance upload during the month

If you don't make a new balance upload and you only need to submit the usage report, simply email the usage report or monthly statement to us (osakeyhtio@ukko.fi).

We will make the necessary accounting entries and record any deductible VAT based on the information provided in the report.