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 submitted electronically. If you are looking for an easier way to submit your materials to your bookkeeper with more ease, try our paprut.fi service by clicking here. Please be sure to submit these materials to your bookkeeper monthly:
Bank statement
Since bookkeeping is done on a monthly basis, bank statements are very important. Please keep in mind that a list of transactions is not the same thing as a bank statement. By making an agreement with your bank, your accounting company can receive your bank statement directly from the bank electronically.
Supporting documents / receipts
Proof of all monetary transaction must be submitted on a monthly basis. The receipts must have VAT marked clearly, even if the VAT is 0%. If VAT markings are not in place, you will not receive any VAT deductions. Exceptions to this rule are banking service fees and other similar charges as these have the necessary markings on account statements and therefore accounting entries can be made from them. It is good to find the original bill for demand for payments, even though they generally don’t have sufficient VAT markings.
Note! When the financial year ends, be sure to submit purchase and sales invoices with dates of delivery from the old fiscal year along with your other monthly material.
Letters from the Tax Administration
It’s good to send a copy of all mail from the tax administration to your bookkeeper as he will let you know if there is any call to action. The tax authorities send an annual statement of advance tax along with a tax assessment. Some companies will also receive a property tax notice.
Changing accounting companies
You can change accounting companies during your financial year or at the end of it; doesn’t really make a difference. So that bookkeeping can be continued from the end of the financial year, the new bookkeeper will require the latest balance sheet book along with specifications for the balance sheet accounts. In the case that accounting companies are changed during the financial year, the new bookkeeper will need the aforementioned materials along with the entrepreneur’s log and general ledger from the current financial year as well as the profit-and-loss account. Tax returns must be submitted in both situations.
