Due Date Regarding Basis for Bookkeeping

Background

Our goal at Voitto is to ensure that you, as our customer, always have up-to-date accounting. This allows you to make decisions in real-time and focus on running your business effectively.

Content

At Voitto, it is possible to submit documents until the 15th of the following month. After the 15th, your dedicated economist takes over all handling and begins the month’s closing. This means that any documentation you submit from the 16th onwards will be entered in the following month.

Documents Required by the 15th

To ensure your accounts are accurate and up-to-date, please ensure the following are submitted by the 15th at the latest for the previous month:

• All supplier invoices have been sent in.
• All receipts have been uploaded.
• A document is linked to all transactions available in the bank.
• Your sales have been reported/uploaded.
• All information/messages from Voitto have been responded to.

Streamlining and Reducing Costs

Here are some tips on how you can streamline your processes and potentially reduce costs:

• Filter documents that come to your email so that they are forwarded directly to Voitto.
• Investigate whether your suppliers offer collective invoices. For instance, if you buy materials from the same store every week, instead of reporting expenses receipt by receipt, you may be able to receive a consolidated invoice for the entire month.
• Consider whether certain expenses with small amounts are cost-effective in the long run.

Consequences of Not Submitting Documentation on Time

Failure to submit your documentation on time can lead to various issues:

• The period may be closed without complete documentation.
• Additional costs may be incurred by the company.
• Incorrect amounts may be declared for the month.

Examples of Subsequent Risks and Consequences

• Incorrect VAT reporting, which may lead to costs for correction.
• Incorrect accounting that does not comply with the Accounting Act.
• Late fees from authorities.
• Profit and loss report that does not accurately reflect the company’s reality.
• Postponement of discrepancies that later take longer to sort out.
• Additional costs related to the company’s bookkeeping as ambiguities lead to extra work.
• Increased risk of errors and mistakes.
• Increased risk of losing documentation.
• Increased risk of forgetting the context or details about specific documents.

Ensuring timely submission of all required documents helps maintain the integrity of your financial records and can prevent the numerous risks listed above.