On this page, we have gathered some questions we have been asked about the AutoAccount bookkeeping service. If you cannot find the answer to your question, please feel free to contact us and ask for more specific information.
If I start to use the AutoAccount service, do I need to install some software to my computer?
No. AutoAccount is not a software, it is a service. As our customer, you only need to report monthly the sales information of your company via our online form and archive the possible invoices and receipts to yourself or on our cloud service. Our accountants will make the bookkeeping for your business. During the year 2017, Digibalance Ltd. will be launching a mobile application, where you can take care of and follow all the necessary things for bookkeeping with your smartphone or tablet.
How do you receive all the needed information about my business for bookkeeping?
AutoAccount utilises XML electronic bank statements, so if your bank is able to provide your business account information in that format, you do not need to send us any bank statements. You only need to make sure that most of your business income and costs go through the bank account and the business bank account is separate from your personal bank account.
Which banks provide XML bank statements that the AutoAccount service can utilise?
XML format is based on EU regulations and most of the Europeans banks can provide it. Usually it is easily available from your net bank. There are also some local formats which can be utilised (for example TITO in Finland).
We are importing goods from outside of the EU, is that a problem with the AutoAccount service?
Importing goods from outside the EU is not a problem, but we have to charge a small fee for handling customs invoices. In case of your business, please contact us for more information and ask for our price list.
We have cash sales, is that a problem with the AutoAccount service?
It is possible to use the AutoAccount service even if your company has cash sales. We recommend that you deposit the received cash to your business bank account. In that way, you can use the money to pay your company’s bills or use your company’s debit card to pay purchases for your business.
However, if you pay the purchases for your company with cash, we need the receipts or other explanation from you. We charge a small fee for handling those cash receipts, please contact us for more information and ask for our price list.
Does the AutoAccount service have any restrictions on the industries?
There are no actual restrictions on industries, but in some fields e.g. tax administration requires more reporting than in other fields. Please contact us and we can figure out the situation for your business.
I live abroad but my business is registered in Finland/Estonia/The UK/France/Italy. Can I still use the service?
Yes, you can! You only need to have an internet connection and, if necessary, a debit card attached to your business account for purchases.
My business is registered in another country than those mentioned above. Can you do my bookkeeping?
Digibalance Ltd. has plans to expand the activities throughout the EU in the future. Please contact us and tell a little bit about your situation and we will figure out if we are able get your accounting organised internationally.
What do you think is the best way to archive my invoices and other documents?
The entrepreneur is obliged to archive the company’s supporting documents 6 years after the end of the year in which the financial year is over.
For us, a shared folder in a cloud service is the most recommended way. We are offering a free Dropbox space for our customers.
However, you can archive the documents the way you want, for example to your own computer, a cloud service or a paper file. It does not really matter which option you choose for archiving, as long as you keep it practical and simple.