Accounting in order
The main function of accounting is to produce information about the company’s finances. The larger the company, the greater the requirements applied to accounting and in particular to financial statements.
As an entrepreneur, the accounting is worth putting in the of an accounting firm for you to be able to focus on what’s essential – raising the income. However, you should understand the basics of accounting since the legality of the accounting is your responsibility, even if the service is outsourced Perehdy silti kirjanpidon perusasioihin, sillä vastuu kirjanpidon oikeellisuudesta on ulkoistamisesta huolimatta yrittäjällä itsellään.
Accounting is based on receipts, and is normally done on a monthly basis. Receipts are, for instance sales and purchases, as well as purchase receipts, bank statements, travel invoices and pay slips. The accounting firm usually handles the recording of receipts in the accounting. It will be up to you to draw up sales invoices, pay purchase invoices and track sales receivables.
You can use a financial management system for the accounting and handling of receipts. In an ideal situation, you could use the same system as the accounting firm, in which case the software produces receipts for invoices and payments you make and the accounting material in an electronic form. This way, accounting is always up to date.
Read more about accounting (in Finnish) in our member Taloushallintoliitto’s guide Kirjanpidon ABC.