Is the UKKO Entrepreneur service suitable for me?

The UKKO Entrepreneur service is mainly intended for private traders who work independently and whose business can be managed using the service’s single-entry bookkeeping. However, the service is not suitable for every business activity or situation.

The UKKO Entrepreneur service is not suitable for you if

• your business involves agriculture, forestry or investment activities
• your business requires double-entry bookkeeping
• you need regular payroll processing and cannot use an external payroll service to calculate and pay wages
• you sell products subject to the margin scheme, such as used cars
• your financial year is not the calendar year
• inventory is a significant part of your business and you cannot independently carry out regular stocktaking and track the value of your inventory
• you regularly import goods from outside the EU
• you sell products to consumers around the world through an international online platform
• you sell products outside the EU or to Åland
• your business involves animals and related purchases, such as breeding animals
• you are under 18
• you are covered by the special VAT scheme known as One Stop Shop
• you are covered by the EU VAT scheme for small businesses’ intra-EU sales.

Animal-related services such as training, grooming and walking may still be suitable if your business does not involve breeding animals or other animal-related purchases.

If your financial year is not the calendar year

The UKKO Entrepreneur service is intended for businesses whose financial year ends at the end of the calendar year, on 31 December.

You may be able to change the end of your financial year to 31 December before starting your UKKO customer relationship. Please note that the new financial year cannot be longer than 12 months.

If you are establishing a new private trader business, its first financial year must end on 31 December of the current year.

If your business has inventory

If inventory is an important part of your business, you must be able to:

• carry out regular stocktaking
• track the value of your inventory independently
• provide an inventory list and the value of the inventory at the turn of the year and when requested.

Inventory intended for sale with a value of approximately EUR 1,000 is often considered significant. However, the significance of the inventory depends on your business activity and the overall situation.

Things to consider before starting the service

Catch-up bookkeeping is not included in the service fee

The monthly fee for the UKKO Entrepreneur service does not include bookkeeping for previous periods that are incomplete or overdue.

Submit your receipts on time

Add the receipts from the previous month to the service by the 15th day of the following month at the latest.

Suomi.fi authorisation is required

UKKO requires a Suomi.fi authorisation to communicate with the Finnish Tax Administration on your behalf. Accept the authorisation request in the service so that the necessary tax matters can be handled.

Your Business ID must be active

If you have previously had a Finnish Business ID, activate it before starting to use the service. This also applies to a Business ID that was established several years ago and later closed.

Register for the service using your existing and active private trader business.

You must be at least 18 to establish a private trader business through the service

You must be at least 18 years old if you want to establish a private trader business and obtain a Finnish Business ID through the UKKO service. The Finnish Patent and Registration Office does not allow minors to establish a business through electronic channels.

The service does not provide a balance sheet

The UKKO Entrepreneur service does not provide a balance sheet. If your business requires a balance sheet, the service may not be suitable for you.

International invoicing

International invoicing is a paid add-on service. If you sell products through an international online platform to consumers in different parts of the world, you may need to clarify the requirements related to sales and VAT yourself.

Sales invoices can only be sent in euros. Your customers must therefore be able to pay invoices in euros. Alternatively, bookkeeping invoice documents can be prepared based on the euro amount received in the payment.

Bookkeeping is carried out on a cash basis

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

Check whether the service is suitable for you

If you are unsure whether the UKKO Entrepreneur service is suitable for your business, contact customer service before registering.

Include at least the following information in your message:

• your business sector
• the products or services you sell
• the countries where your customers are located
• whether your business has inventory, equipment or employees
• the types of income and expenses related to your business
• which part of the service’s suitability you are unsure about.

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

Frequently asked questions

Can I use the service if I sell products abroad?

The service is generally not suitable if you sell products outside the EU, to Åland or to consumers around the world through an international platform. Contact customer service to check your situation before registering.

Can I use the service if I have an old Business ID?

Yes, if you activate your old Business ID before starting to use the service and register with an active private trader business.

Can I use the service if my financial year is not the calendar year?

Usually not. However, you may be able to change your financial year to end on 31 December before starting your UKKO customer relationship. Contact customer service to confirm the change and its effects.

Can I get a balance sheet through the service?

No. The UKKO Entrepreneur service does not provide a balance sheet.