What do I do if a receipt is lost?
It’s not rare that a receipt goes missing. Receipts might also go missing from mobile applications. It is easy to get a copy of an invoice but for a payment made with cash or credit card, a copy may … LUE LISÄÄ
Work clothing in company taxation
The right for the tax deductions of work clothing depends on the company’s field of business and operations. The general rules for tax deductions lack detail so it can often be difficult to draw the line. The general rule, however, … LUE LISÄÄ
What is depreciation?
New machinery can be a very large investment for a company. So that the big investment won’t distort accounting by showing one very large investment for one accounting period and nothing else for the other periods, companies are advised to … LUE LISÄÄ
What should I be keeping on file?
A company should be archiving all bookkeeping material, pay slips, invoices, receipts and memos. It is advisable to attach any relevant documents to all memos which might not have been made in writing. All employment contracts should also be filed. … LUE LISÄÄ
About Credit Loss
The number of registered payment defaults and bankruptcies continue to grow and the risk of a customer’s inability to pay in trade credit is increasing due to this. For this reason, an entrepreneur has to monitor the company’s accounts receivable … LUE LISÄÄ
What material do I have to submit to my accounting company?
By submitting all relevant material to your accounting company, you can be sure that your bookkeeping can be made according to the requirements of law and that your VAT calculations are done correctly. By law, all bookkeeping material can be … LUE LISÄÄ
How can I save on bookkeeping expenses?
Many entrepreneurs want to save on bookkeeping expenses by doing as much as they can on their own even if their skills aren’t sufficient for that. We often meet entrepreneurs in panic who run to our office with fines: It … LUE LISÄÄ
Private entrepreneurs’ home office or work space: When can I make reductions?
A private entrepreneur who runs his company from home or from a home office can make reductions in accounting or tax returns. In fact, we recommend that you do utilize your home offices and work spaces in accounting or tax … LUE LISÄÄ
What is holiday pay reserve?
Summer holidays are almost here and the first employees will be going on their summer holidays within the next two months. When holiday pay reserves are in order, the entrepreneur himself can also have a relaxing summer holiday. An employee … LUE LISÄÄ
The Accounting Act has been renewed: Do I still have to make a financial statement?
With the reform, the definition of SMEs has expanded and a separate category was created for micro-enterprises that receive special concessions in respect to financial statements. The new Accounting Act also defines what information companies in each category must present … LUE LISÄÄ