The UKKO Private Trader service includes the following features:
- Free Business ID: you get a business ID immediately
- Single entry accounting: you don't need any other accounting tools in addition to the service
- Unlimited invoicing: create, send and receive invoices in one place (incl. E-invoices and paper invoices)
- Easy voucher entry to accounting: automatic reading of data from most receipts speeds up adding expenses and incomes to accounting
- Voucher checks: We check all the vouchers you add to the service to make sure everything goes as it should
- Joining VAT and prepayment registers: we will sign you up to these registers when you set up a business name through us
- VAT returns: We fill in and send your VAT returns. We will also notify you at the end of each VAT period whether you will need to pay any VAT
- Annual tax return: we file your annual business tax return. At the turn of the year, we will ask about additional deductions you have for your tax return
- Applying for a VAT relief: we apply for a VAT relief for all our eligible customers along with the last VAT return of the year. This means that if your billing falls below 30,000 € a year, you will get back part of the VAT you paid
Easy to use service:
- Support and security: our knowledgeable customer service is always there to help you
- Product and customer register: speeds up the creation of invoices
- Driving log: a handy logbook in our system for those driving more than 50% of business trips
- Income statement: An automatically updated income statement is always available to you
- Digital storage of receipts and receipts: no more receipts at the bottom of your desk drawer!
- Financial monitoring: your company's overall situation easily visible in the service
As our customer, you will also receive the following additional services from us (for an additional fee):
- EU summary notifications and, if needed, One Stop Shop registration and notifications for those who have activated the foreign trade additional feature
- Completing uncompleted accounts
- Adjustments to accounting
Above all, the service speeds up the entrepreneur's operations as the financial management material is formed simultaneously with invoicing.
Use of the service
The service is currently available to private trader entrepreneurs who are entitled to single entry accounting (single entry accounting is sufficient if no more than one of the following is exceeded: turnover 200k €, up to 3 employees (average), balance sheet total up to 100k €). Your financial year must be a calendar year in order to use our service. We do cash basis accounting. This means that the date of the payment determines the accounting day of income or expense.
Practically, you can easily invoice your customers through our service (you can also upload your own sales reports / receipts to the service). Sales are automatically transferred to the accounts based on the information you provide. If necessary, you can also order a Zettle payment terminal through us for a reasonable price. This terminal can be integrated into our service (connect the terminal to our service and sales reports will be automatically transferred to your bookkeeping).
When you have business-related expenses, you can upload the receipts to the service and explain in the expense description how the expense relates to your business. Our financial team will still check the receipts and if everything is in order, will mark them checked and accepted. If the receipts contain corrections or additional information is needed for accounting purposes, we will email you with details and questions.
If you are subject to VAT, our finance team will prepare VAT returns for you. Our software will send you a message on what action is required when your VAT period ends: whether you have any VAT due or receivable and how to proceed.
At the end of the year, our software will ask for the information we need to file your business tax return, such as a workroom deduction, use of your own car, etc. Based on the information you provide, our finance team will file your business tax return and contact you if more information is needed. The tax return will be sent to the tax administration on your behalf.
Our service also strives to be proactive towards our customers and informs our customers. For example, if your turnover seems to be higher than anticipated, and it appears that no prepayment taxes have been paid yet, we suggest you update your income estimate.
In the background, other financial functions often needed by a small entrepreneur, such as VAT reliefs, are taken care of for you.
We can serve 95% of small business name entrepreneurs. Here you can check for whom UKKO Private Trader is not suitable.