What is included in the UKKO Entrepreneur service?

UKKO Entrepreneur is a bookkeeping service for private traders who are allowed to use single-entry bookkeeping. You can invoice your customers, submit receipts for bookkeeping and monitor your business finances without using separate bookkeeping tools.

The service is intended for businesses whose financial year is the calendar year and whose bookkeeping can be managed on a cash basis in accordance with the service’s terms.

Key features of the service

Applying for a Business ID

You can establish a private trader business and apply for a Finnish Business ID through the UKKO service.

Single-entry bookkeeping

The service includes single-entry bookkeeping. You generally do not need a separate bookkeeping tool in addition to the service.

A private trader may use single-entry bookkeeping if no more than one of the following thresholds is exceeded:

• the balance sheet total exceeds EUR 100,000
• net sales or comparable revenue exceeds EUR 200,000
• the business has an average of more than three employees.

If at least two of these thresholds are exceeded or your financial year is not the calendar year, you need double-entry bookkeeping. 

Unlimited invoicing

You can create, send and receive invoices through the service. The service also supports e-invoices and paper invoices.

Easy receipt submission

You can add receipts and other documents to the service, for example by taking a photo with your phone. The service automatically reads information from most receipts, so you usually only need to check the information and complete any missing details.

Receipt review

Our financial team reviews the receipts you add to the service. If a receipt needs to be corrected or we need additional information for your bookkeeping, we will contact you by email.

Tax-related services

VAT returns

If you are liable for VAT, our financial team prepares and submits your VAT returns.

When your VAT period ends, the service sends you instructions explaining:

• whether you have VAT to pay or receive
• what you need to do
• how to pay any VAT due.

Income tax return

We prepare your business income tax return annually.

At the turn of the year, the service asks you for information needed for the tax return, such as:

• the home-office deduction
• the use of your own car
• other deductions related to your business.

Based on the information you provide, our financial team prepares the tax return and submits it to the Finnish Tax Administration. We will contact you if we need additional information.

Registrations when starting your business

When you establish a private trader business through the UKKO service, we will register your business ID to prepayment register. If needed you can add your business id in VAT register Through My Tax.

Monitor your business finances

Income statement

The service includes an automatically updated income statement showing your business income, expenses and result.

Financial monitoring

You can use the service to monitor your business’s financial situation, including:

• sales
• business expenses
• paid invoices
• the bookkeeping result.

Product and customer registers

You can save customer and product details in the service. This makes the information easy to find and helps you create invoices faster.

Driving log

The service includes a driving log for business driving. It is particularly useful if you regularly use a car for business purposes.

If more than 50% of the kilometers driven with the car are related to your business, special bookkeeping and tax treatment may apply. In that case, keep a driving log and add the required vehicle details to the service.

Digital storage of receipts and documents

Receipts and other documents added to the service are stored digitally in the same place as your bookkeeping.

How the service works in practice

1. Create and send invoices through the service.
2. Add business income, sales reports and other required material.
3. Add business expenses and receipts after each month.
4. Explain how each expense is related to your business.
5. Check the information read automatically from the receipts and complete any missing details.
6. Our financial team reviews the receipts and requests additional information if necessary.
7. Monitor your business finances using the reports and notifications in the service.

Submit the receipts from the previous month by the 15th day of the following month at the latest.

UKKO uses cash-basis bookkeeping. This means that the payment date determines the bookkeeping date of income or expenses.

Add-on services

As a customer, you can purchase the following add-on services when needed:

• EU sales lists if you have activated the International Trade add-on
• catch-up bookkeeping
• bookkeeping corrections.
• UKKO Maksut
• UKKO Turva

Frequently asked questions

Do I need other bookkeeping tools in addition to the UKKO service?

Usually not. You can invoice customers, submit receipts and monitor your business finances in the same service.

Does UKKO prepare VAT returns?

Yes, if you are liable for VAT. UKKO prepares and submits your VAT returns as part of the service. You will receive instructions on how to pay any VAT due.

Does UKKO prepare my income tax return?

Yes. UKKO prepares your business income tax return based on the information you provide and submits it to the Finnish Tax Administration.

Is catch-up bookkeeping included in the service fee?

No. Catch-up bookkeeping and bookkeeping corrections are paid add-on services.

Is the service suitable for all private traders?

No. The service is intended for private traders who can use single-entry bookkeeping and whose financial year is the calendar year.

If you need help

Contact UKKO Entrepreneur customer service at asiakaspalvelu@ukkopro.fi if:

• you are unsure which receipts or documents you need to submit
• you need help handling a business expense
• you are unsure whether the service is suitable for your business
• you need help with a VAT return or income tax return
• you want to ask about catch-up bookkeeping or bookkeeping corrections.

Include your Business ID and describe as clearly as possible what you need help with.