Yes. UKKO Private Trader is suitable for individual Bolt drivers who don't have employees. UKKO Private Trader is a financial service that takes care of bookkeeping and time-consuming paperwork for you. You can focus on your own work while our specialists take care of your finances.
How do I start using UKKO Private Trader service?
You can use the UKKO Private Trader service like this:
- Register for the UKKO Private Trader service via the email link you received from Bolt or from the general registration page of Private Trader.
- Activate Foreign sales additional service for us to process earnings you receive from Bolt. Foreign sales is UKKO Private Trader’s paid additional service that makes it possible to add income from abroad to bookkeeping. Foreign sales costs 10e/kk + VAT and it will be activated from your account settings after registering, read more here.
How are Bolt driver’s earnings added to bookkeeping?
Once a month you will receive a monthly invoice from Bolt where is a breakdown of income from the past month and commissions deducted by Bolt. Add the monthly invoice to UKKO Private Trader service and we will mark the income in your bookkeeping. The monthly invoice will be sent to your email, more information at Bolt’s webpage.
This is how you add Bolt’s monthly invoice to UKKO Private Trader service:
- When you have received the monthly invoice in your e-mail, log in to the UKKO Private Trader service and go to the page Income -> Add income.
- Upload the monthly invoice to our service and choose the entry type sales and the VAT rate 10% in the breakdown. Then enter the total amount of the invoice as the amount and the company as the buyer. We will process your invoice and make more detailed entries in your bookkeeping!
Please note that we do not mark tips as income in your bookkeeping, as tips are the recipient's taxable income. This is income from other income-generating activities that should be added to your personal tax return.
What expenses can I add to my bookkeeping?
You can add all your business expenses, such as receipts for airport pickups, to your bookkeeping. Also, Bolt's commission in your monthly invoice is a deductible expense for your business, and we will automatically add it to your bookkeeping. Read in our article which expenses are deductible in the business name entrepreneur's bookkeeping.
You can also add the car's operating and acquisition costs to your bookkeeping, if:
- The car is mainly used for business purposes. If more than 50% of the kilometers driven by the car are business trips, the car belongs to the business assets of the business name. In this case, add a price estimate/sales book for the car to your service, as well as fill in the other information about the vehicle. You can then add all the car's operating and purchase costs to your bookkeeping. Also keep a driving log. Here are the instructions for filling out the driving logbook. Read more about adding a car to bookkeeping here.
Please note that the VAT adjustment for the purchase and operating costs of the vehicle used by the company is made on the last VAT return of the year when the relationship between business and private driving is clear.
Where can I find more information?