Do you want to open a company in Finland and need an accounting firm? We recommend the services offered by our accountants in Finland with extensive experience in helping small, medium, and large companies. Thus, foreign entrepreneurs who want to start a company in Finland can benefit from full support, including accounting services. In the following lines, you can discover information about what these entail and how to get in touch with our specialists.
| Quick Facts | |
|---|---|
| Who requires accounting services in Finland? | Local and foreign business owners with commercial activities in Finland |
|
Applicable accounting legislation in Finland |
– Accounting Act No. 1620/2015, – IFRS (International Financial Reporting Standards), – Finnish Generally Accepted Accounting Principles (Finnish GAAP) |
|
Types of accounting services we offer |
– bookkeeping, – payroll, – annual financial statements, – tax minimization methods, – tax registration, – maintaining company accounts |
| Tax advice and compliance |
– regular verification of tax legislation, – business support in taxation matters, – tax-saving recommendations |
| We offer support for tax registration (YES/NO) |
YES |
| Financial planning for company owners in Finland |
For businessmen who want to make risk-free investments in Finland |
| Risk assessment and evaluation |
Our accountants in Finland can offer specific measures, in case business risks are discovered. |
| Types of audit services |
– internal/ external audits, – regulatory audits, etc. |
| Tax minimization methods available |
– advance payment of credits, – retirement accounts, – charity registration |
| Personalized financial consultancy services (YES/NO) | YES |
|
Investment consultancy for high-net-worth individuals |
Dedicated services for proper management of assets |
| Financial and analysis reports for companies |
Such reports can reveal the financial position of a company in Finland. |
| Human resources services available |
– staff recruiting, – drafting employment contracts, – employee administration-related matters |
| Expertise provided by certified accountants (YES/NO) |
YES |
| Fiscal year in Finland | January the 1st – 31st of December |
Table of Contents
Types of accounting services offered to companies in Finland
Opening a company in Finland involves a series of procedures and formalities that can be successfully managed by one of our local agents. We can also talk here about the accounting services that can be offered. We welcome companies registered in Finland with the following accounting services:
- Bookkeeping – The financial activities of the company are recorded, with the help of dedicated documents and the platforms used by our specialists. You can opt for the services of our CPA in Finland for complete information.
- Audits – You need to know the business direction of the company, and a periodic audit can help you here. The audit is of several kinds, and our accounting firm in Finland will be at your disposal for details on this topic.
- Payroll – With the help of a payroll specialist in Finland, salaries can be calculated and distributed to employees, according to the rules established in this regard.
- Tax registration – In addition to the above services, our accountants in Finland can also deal with the registration formalities of a company to pay taxes.
- Preparation of annual financial statements – IFRS (International Reporting Financial Standards) as well as local legislation regarding company accounting are respected in Finland. Annual financial statements can be drawn up and registered with the relevant authorities. Our CPA in Finland can elaborate on this subject.
So, these are some of the services offered by our accountants in Finland. We advise you to contact our accounting firm in Finland for personalized offers and complete information. You can also discover an infographic we have prepared on this topic:
About bookkeeping for companies in Finland
Bookkeeping in Finland is of major importance for companies registered on the market. With the help of such services in Finland, all financial activities in the company can be registered. Here is what is good to know about bookkeeping in Finland:
- With the help of bookkeeping in Finland, the financial accounts of a company can be correctly recorded and managed.
- All financial inputs and outputs are recorded in the company, with the help of bookkeeping and physical books/digital software.
- Both small and large companies need bookkeeping in Finland.
- Tax deductible expenses, taxable income, and cash tracking can be done with the help of single-entry bookkeeping.
- In companies, double-entry bookkeeping can also be used for recording debit and credit entries.
- A bookkeeper is in charge of creating balance sheets and income statements in the firm.
- Such a specialist can also deal with tracking credits and debits, general invoices, and receiving payments from clients.
Our accountants in Finland can tell you more about bookkeeping services and why they are so important when starting a company in Finland. Moreover, we recommend the outsourcing of accounting services for companies established in Finland, instead of specially created departments. The benefits are multiple, including data accuracy, efficiency, and advantageous costs.
What is general ledger accounting in Finland?
General ledger accounting in Finland is the essential source of information for complete financial reporting, taxation, internal accounting, and more. An accountant must ensure that companies benefit from accurate bookkeeping and that quarterly and annual reports are made correctly. What is important to specify in this case is the fact that with the help of general ledger accounting the annual financial statements can be made at the end of the accounting period and by taking into account the Finnish Accounting Standards (FAS).
Our accountants in Finland can provide you with information about the services you can benefit from when you collaborate with us. We also offer personalized service packages, depending on company size and other factors.
Support in tax registration in Finland
When you want to open a company in Finland, it is good to make sure that you have all the necessary services at hand. In this case, you can also benefit from assistance in tax registration in Finland, offered by our specialists. The value added tax and corporate tax are the most important in Finland. The standard VAT rate is 24% in Finland, but there are also lower rates for various categories of goods and services. On the other hand, the corporate tax is 20% in Finland and applies to revenues generated here.
We can propose tax minimization strategies
Tax minimization methods can be implemented in companies to cut the number of taxes to be paid. Charity, deduction of business expenses, retirement plans, or advanced payment of credits can be some of the optimal strategies for minimizing taxes in a Finnish company. If you are interested in company formation in Finland, do not hesitate to ask for information about the accounting services that can be offered.
Accounting for sole traders in Finland
In the case of sole proprietorships in Finland, single-entry accounting is recommended. In this case, it is about the record of incomes and expenses that a sole trader can do alone. However, it is more than recommended to consider the services of a specialist in the field, such as our accountant in Finland. In addition, our services can be contracted right from the beginning, when the sole trader in Finland is in the registration process.
As for taxes, the sole trader must be registered with the local tax office, where he will report monthly/quarterly/annually, as the case may be. Moreover, sole proprietors in Finland who have VAT-liable operations must register for the payment of this tax, if they exceed the annual turnover of EUR 15,000. There is also the possibility of voluntary registration for VAT in Finland, even if this threshold is not exceeded, and here our Finnish accountants can guide you. Below are some of the accounting services you can benefit from in Finland if you have a sole proprietorship:
- tax registration,
- monthly bookkeeping, payroll, etc.
- support for invoicing,
- monthly VAT reports and payments,
- assistance in scheduling advance tax payments.
Collaboration with our accountants in Finland is quite simple. All you have to do as a sole trader in Finland is to send us the invoices by email so that we can then take care of their registration, the preparation of various documents concerning the tax authorities, and much more.
About financial statements for companies in Finland
Financial statements are some of the most important documents in a company. These are prepared at the end of the year and reflect the financial performance of the company. But not all companies have to prepare these documents. For example, there is no need for the preparation of financial statements in the case of sole proprietorships in Finland, the accounting requirements being minimal.
Returning to the financial statements for small, medium, and large companies, these documents are issued based on the information provided by the balance sheet, income statement, and varied records. The Finnish accountant who has experience in this field and can detect possible errors is the one dealing with the preparation of annual financial statements. Once the annual financial statements are prepared, these reach the tax authorities for verification. If there are still fees to pay, business owners will be notified. Moreover, there are also cases in which certain sums of money can be returned, if calculation errors are detected.
We, therefore, invite you to talk to our accountant in Finland and learn more about the preparation of annual financial statements, among others.
Why work with our accountants in Finland?
If you want to set up a company in Finland and have a good start on the market, it is very important to have specialist help in this regard. This is where our team of accountants in Finland can come into the discussion because:
- We can offer expert advice related to accounting, taxation, reporting, and many more.
- We manage to discover which sectors are vulnerable and exposed to risk from a financial point of view, to propose a series of developed strategies.
- We offer flexible services and cover the entire area of accounting, including specialist advice on debt monitoring, risk assessment, and many more.
- Our clients benefit from quality financial management and software. We are up to date with technology and accounting aspects. You can also watch a video presentation about the accounting services we provide in Finland:
Statistical data about accountants in Finland
Below are some statistical data about accountants in Finland:
- The most recent data show that there are over 14,000 accountants and certified public accountants registered in Finland.
- On average, an accounting and auditing firm in Finland has more than 3 accounting employees.
- A personnel increase of approximately 2% was registered in 2023 in the accounting sector in Finland.
Therefore, if you are looking for a CPA in Finland for the owned company, you can contact our team of specialists. We offer comprehensive details and personalized offers once you decide to collaborate with our specialists in accounting and also company incorporation in Finland.