Frequently asked questions

Frequently asked

How long until I can send my first invoice?

One to two working days. A real person opens your Fennoa account rather than a script, so it is not instant, but it is quick, and it is right.

What do you need from me?

Your Business ID, your business bank details, and a rough sense of how you invoice. Identity verification and a signed agreement, both done online.

Do I have to change banks?

Only if your current bank cannot provide a machine-readable statement (*konekielinen tiliote*). That feed is what makes the service work. Ask us and we will check before you do anything.

I do not have a Business ID.

We will register one for €79, one-off. Or use Palkkaguru and invoice without a company at all.

What will I actually pay per month?

The plan you choose plus your bookkeeping fee. The lowest combination is €31.50: Light at €10 plus the €21.50 minimum. Bookkeeping never exceeds €86 in a month. All prices VAT 0 %.

Why is the bookkeeping fee not fixed?

Because your business is not. Fixed fees mean quiet clients subsidise busy ones: you either overpay or the price is padded for safety. We bill the time we use, with a floor so it is worth doing and a ceiling so it cannot run away.

Then how do I know which band I will be in?

Tell us what you invoice and we will give you our honest expectation. It can move as your business does. What cannot move is the ceiling.

What if I invoice nothing this month?

You pay the plan fee and the €21.50 minimum. A dormant sole trader business still owes VAT returns and financial statements, so there is always some work.

Are there hidden costs?

The add-ons on the pricing page (payslips, digital signatures, scanning, printing, setup, registering a business ID) are charged only if you use them. Insurance is billed by the insurance company, and collection by Perintäritari Oy. That is the complete list; there is not another one.

When does charging start?

After you have accepted the general terms and signed the assignment agreement. Everything before that (questions, quotes, working out which plan fits) is free.

When do I get invoiced?

One invoice per calendar month, dated the last day, generated on the first working day of the next. Pay within 7 days and take 2 % off; otherwise 14 days net.

What if I cannot pay on time?

Talk to us before the due date and we will agree a new one at no extra cost. After the due date it is a €12 reminder fee, and unanswered reminders go to collection. The first option is genuinely better for both of us.

Who actually does my bookkeeping?

HR-tilipalvelu Oy, an authorised Finnish accounting firm and a certified Fennoa partner. Real accountants, in Helsinki.

What is included in the monthly fee?

VAT returns, EU sales reports, reporting, and your profit and loss and balance sheet. The year-end accounts and the income tax return are billed once a year, separately.

Which system do you use?

Fennoa. Sales invoices out, purchase invoices in, receipts photographed with your phone, travel and expense claims, and electronic signatures. A bank feed enters the data directly.

Can I do my own invoicing?

Yes, that is the point. You invoice in Fennoa; the bookkeeping happens underneath.

Is Fennoa in English?

Finnish, Swedish and English, and your login is set to whichever you prefer.

Where is my data?

In Fennoa, a Finnish accounting system, and it is yours. Nothing is held in a proprietary format you cannot take with you.

What if I hire someone?

You stay with us. We run payroll for employees and owners: wages, holiday pay, incomes register declarations, employer's returns, final settlements, insurance declarations and Kela claims. €30 per payslip, charged only in months you actually run payroll.

How long do I have to send in receipts?

A month. May's receipts should reach us during May or June. Late receipts mean the books are reconstructed rather than kept, and reconstruction takes the minutes your fee is based on.

Do I have to pay every bill through the system?

Yes: purchase invoices paid through Fennoa with the invoice attached, and every receipt in the system with its document attached, including cash and card. Each one is a step we would otherwise do by hand and bill you for.

If I call you with a question, is that part of the service fee?

Accounting and customer service are both included in the service, and both are charged on actual time used. A phone call counts. An emailed question counts. We would rather be straight about that than pretend advice is free and quietly widen the margin somewhere else. And it cannot run away from you: €86 is the maximum in any month, no matter how much you ask.

So should I avoid calling?

No. A question answered in March is almost always cheaper than the same question answered by your financial statements in April. Ask.

Can I change plan later?

Yes, free of charge, once a quarter. Contact us before the new period begins and the change applies from it. So there is no reason to over-buy at the start: begin on the plan that matches what you do today.

How do I leave?

Three months' notice, counted from the end of the month you give it in, so notice in March means the service ends on 30 June. That is the TAL2023 standard used across the industry. Your final archiving is already covered by the setup fee you paid at the start.

What happens to my books?

They are yours. We archive everything properly and hand it over.

I am becoming a limited company.

HR-tilipalvelu handles limited companies directly. Same firm, same people, no starting over.