How do I add Bolt sales revenue to my limited company’s accounting?

Add the Bolt sales report to the UKKO service as an income voucher.

Report the total sales revenue generated through the Bolt service, broken down by the different sales categories, before deducting Bolt’s service fees and other charges. Report Bolt’s charges separately as expenses instead of reducing the sales amount.

How to add the Bolt sales report

1. Make sure that the foreign trade add-on is activated on your UKKO customer account.
2. Download the balance statement for the relevant period from Bolt.
3. Check that the report includes at least:
   • the reporting period
   • sales generated through the Bolt service
   • service fees and other charges invoiced by Bolt
   • the net amount paid or transferred to your company, including cash sales
   • any tips.
4. Add the report as an attachment to the income receipt you create in the UKKO service:
   • Date: Enter the first date of the period shown on the report.
   • Entry type: Select Sales.
   • VAT rate for the sales and buyer details: See the more detailed instructions below.
   • Sales amount: Report the total sales amounts shown on the report before deducting Bolt’s charges. See the more detailed instructions below.
   • Description: Tell what period (dates) the income is from.
   • Bolt’s service fees and other charges: Add these separately as deductible expenses, or as a sales commission. See the more detailed instructions below.
5. Mark the income as paid using the correct bank transaction or transactions. Record payments received in cash through the cash register.
   • If Bolt makes several transfers to your company’s bank account during a calendar month, you can assign all the account transaction to one income voucher and report all the incomes received during the month on a single income voucher. In this case, download the full monthly balance statement from Bolt and attach it to the income receipt.
   • If part of the sales revenue was received in cash, record that amount as paid through the cash register.
      

Which amounts should be reported as sales?

Report the total sales revenue generated through the Bolt service before Bolt deducts its own service fees or other charges.

Below are the entries to make based on the example report:

1. Total payments received through the Bolt app: €3,256.30, VAT rate: 13.5%
   • App earnings: €3,135.50
   • Cancellation fees: €30.00
   • Passenger cash discount: €90.80
2. Amount paid in cash: €264.00, VAT rate: 13.5%
3. Tips given by passengers: €66.00, VAT rate: 13.5%
   
   Add these sales with the Finnish 13.5% VAT rate as follows:
   • Who purchased the product or service: Private consumer
   • Buyer’s country: Finland
     
     
      
4. Possible sales made to Bolt: €209.50, VAT rate: 0%
   These sales are subject to the EU reverse-charge VAT procedure. They may include, for example, campaign payments and expense reimbursements:
   • Fleet campaign earnings: €196.00, VAT rate 0%
   • Expense reimbursements: €13.50, VAT rate 0%
     
     Add these sales subject to the EU reverse-charge VAT procedure (0%) as follows:
     • Who purchased the product or service: Business
     • Buyer’s country: EU country
     • Select EU country: Estonia
     • VAT number: EE102090374 (Bolt’s VAT number)
       
       

All sales in the example appear as follows on the completed income entry:

Do not report only the net amount transferred to your bank account as sales, because Bolt may have already deducted its service fees from that amount.

Bolt’s charges are treated as separate expenses. From Finland’s perspective, Bolt operates under an Estonian business ID, which means that the reverse-charge VAT procedure applies to these charges.
 

Which amounts should be reported as deductions?

Report Bolt’s charges as a deduction, or sales commission. The charges are listed under net earnings in the report. You can find a more detailed breakdown in the transaction details.

5. Total deduction, or sales commission: €877.73
   In the example, this amount is marked in red.
   • App commission: €789.27
   • Cash commission: €88.46

Bolt’s sales commission is treated under the EU reverse-charge VAT procedure:

• Select EU country as the country for the deduction.
• Select 0% as the VAT rate.
• Enter the total deduction of €877.73.

The deduction in the example appears as follows on the income entry:

How do I mark the income as paid?

After reporting the total sales of €3,795.80 and the deductions of €877.73:

• Allocate the bank transaction for the transfer received from Bolt, €2,654.07, to the income entry and mark it as paid.
  • You can find the amount of the Bolt transfer in the balance statement under Closing balance. In the example, this is marked in blue as number 6.
• Record the cash sales of €264.00 as paid through the cash register.
  • Enter as the payment date the date on which you received the first cash payment included in the sales shown on the balance statement.

Please also note

• Make sure that the reporting period matches the period covered by the transfer.
• Do not use only the net transfer shown on your bank statement as the sales amount.
• Attach the complete report to the income receipt so that the sales, charges and net transfer can be checked later.
• The Bolt report includes several VAT rates, so report the income and deductions according to the instructions above.
• If you are unsure how the VAT treatment applies to a particular type of income, please contact Bolt directly for further information and instructions.
• Bolt is an Estonian company. Therefore, some income and deductions are recorded using a 0% VAT rate under the EU reverse-charge VAT procedure.

If you need help

If you are unsure which amount from the report should be reported as sales or how to add Bolt’s charges, email our customer service at osakeyhtio@ukko.fi and include:

• the Bolt sales report
• the reporting period
• a short description of the part you are unsure about.