Frequently asked questions
How do I start using UKKO Private Trader service?
You can become a user of the UKKO Private Trader service through our registration page, either with an existing business ID, or you can set up a business ID through us. For more information, see our Establishment of a Private Trader page.
Please note that one person can only have one personal Business ID. For example, if you already have a Business ID that was created several years ago and has since been discontinued, you will need to activate that business ID. You can do so with a change notice on the YTJ website.
Who can use UKKO Private Trader?
The service is designed for private traders (Tmi) who need to keep single-entry bookkeeping. You can be either a full-time or a part-time entrepreneur.
Our service, on the other hand, is not suitable for you if:
- Your business is agriculture and forestry or investment activities.
- Your business requires double-entry bookkeeping.
- You need regular payroll and you cannot use payroll services provided by a third party to calculate and pay your salaries.
- Your fiscal year is a non-calendar year.
- However, you can change your financial year to end on 31.12. before starting a customer relationship
- Products sold by your company are subject to marginal taxation. (e.g. used car dealerships or flea markets.)
- Inventory maintenance is an important part of your business, and you do not keep regular inventory.
- You should be able to provide an inventory list and value at the turn of the year and upon request.
- A significant inventory is often considered to be a stock intended for sale of approximately € 1,000.
- You have regular imports of goods from outside the EU (Please note that the UK is no longer part of the EU).
- Your business includes animals and related purchases (e.g. breeding), however training, grooming, walking dogs and other similar services are allowed
You can read more about this here.
How long does it take to get a business ID?
If you set up a business name through UKKO Private Trader, you get a Business ID after completing the registration.
What is included in the monthly price?
The monthly price of our service includes the following features:
- Automated accounting
- Unlimited invoicing: create and receive invoices in one place (incl. E-invoices and paper invoices)
- VAT and tax returns are made for you
- Applying for a VAT relief for you
- Customer and product register
- Real-time financial monitoring
- Free accountant support (chat, email and phone)
- Driving logbook
- Formation of the income statement
- Digital storage of receipts and vouchers
Is the service suitable for limited companies (OY)?
Currently, we only offer single-entry bookkeeping for private traders. Limited companies must do double-entry bookkeeping and therefore we cannot provide our accounting services to limited companies.
Does registration require a commitment to the service?
Registration for the UKKO Private Trader service is completely free. Registration also does not oblige you to use the service.
Read more about our monthly price in our pricing section.