Overview of Holvi Zen+ – Accounting for sole traders and limited companies
Service in brief
The Holvi Zen+ Service offers sole traders or for smaller limited companies an all-encompassing package for running their business. As a customer of the service, you do not need to jump between different applications, as Holvi Zen+ offers everything in one place – business account, payment card, credit card, invoicing and accounting for a fixed monthly price.
Accounting services in English 🇬🇧
Are you running a sole proprietorship or a limited company in Finland? If so, Holvi Zen+ is for you, regardless of your fluency in Finnish. Our accounting services are offered in English.
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Who is Holvi Zen+ suitable for
Holvi Zen+ is designed for sole traders and small limited companies. Zen+ includes double-entry, cash-basis, bookkeeping so we can support your business, no matter your business type.
Holvi Zen+ is suitable for an entrepreneur if any of the items listed below are valid:
- Your company identity is sole trader or limited company
- Your company has employees or needs to pay salaries
- Your company has consumer sales abroad¹
- Your company uses a third party online store
- The company's fiscal year is calendar year or any other than a calendar year
Who is Holvi Zen+ not suitable for
Holvi Zen+ is not suitable for a company if any of the items listed below are valid:
- Your business type is something other than sole trader (Tmi) or limited company (Oy). For example, we currently do not support limited partnership (Ky), general partnership (Ay) or cooperative society (Osk) business types
- The company's operating area includes dropshipping, forestry or agricultural activities or other business activity that does not alight with Holvi's Acceptable Use Policy²
- The company's turnover or equivalent income exceeds €500,000
In addition to Holvi Zen+ general conditions, the entrepreneur's suitability or unsuitability for the service will always be verified on a case-by-case basis by Holvi's experts.
What is included in the Holvi Zen+ service
The Holvi Zen+ Service includes the most common services provided by Holvi as well as accounting services. Our accounting services are available in both Finnish and English 🇫🇮 🇬🇧
Holvi features
| Feature | Description |
| Business account & IBAN | Think of this as your business’s financial home, with IBAN and transfers |
| Virtual Business Debit Mastercard® | Pay expenses conveniently with your card (physical card order separately) |
| Virtual Business Credit Mastercard®³ | Buy now, pay later with Holvi's business credit card (physical card order separately) |
| Holvi Mobile app | Manage your business finances anywhere, anytime |
| Scan and save receipts | Store receipts safely online, add VAT and bookkeeping notes |
| Invoicing and e-invoicing | Incoming payments match automatically to your sent invoices |
| Holvi's Online store⁴ | Sell your products and services online with Holvi, no coding needed |
| Salary payments⁵ | Salary payments via the Palkkaus.fi service |
| Customer support |
Holvi's customer service via Messaging and email and accounting support via email. |
Accounting and tax services
- Double-entry bookkeeping and income statement to email according to your VAT period
- 30 account transactions / receipts per month handled in the accounting⁶
- Tax declaration for self-initiated domestic taxes, e.g. VAT declarations. Our accountant calculates the VAT for you, and all you have to do is manage your VAT payments in MyTax according to your VAT period.
- Guidance on tax prepayments
- Company financial statement (fixed price and separate billing)
- Filling out the income tax return and delivering it to tax authorities once a year (fixed price and separate invoicing)
- Kilometre allowances and deduction of car expenses for 1 car
- Online store transaction processing into accounting
- Salary payments via Palkkaus.fi recorded into accounting
- General ledger (upon request)
- Direct contact with the accountant team via email
Additional invoicing may arise from separate declarations for EU sales and if the company wants to apply the marginal scheme (special tax treatment for second-hand goods bought tax-free and for works of art, collectors' items and antiques).
Possible add-on services
In the Holvi Zen+ Service, it is possible for the customer to purchase additional services that will be invoiced separately, such as:
- Personal tax declaration
- Review of input taxes
- Recording transcript on board of directors / general meeting
- Annual declaration of dividends
- Registration of financial statements to Finnish Patent and Registration Office (PRH)
- Recording expenses done outside Holvi into accounting
- Advisory services: tax advice, company law, budgeting, business subsidies (tax consulting and corporate law advisory)
- Retrospective accounting (other additional accounting work)
- Filling in the company's basic information form
- Processing of additional account transactions / receipts
- Establishing your own company
- Handling investment activity in your bookkeeping
The prices for additional services are determined according to the valid price list and are billed separately. The prices are VAT 0% prices.
| Financial statements | €99,00/pcs | The fixed price of the Zen+ service |
| Company tax return | €99,00/pcs | The fixed price of the Zen+ service |
| Filling in the company's basic information form | €49.00/hr | Additional service |
| Personal tax declaration | €79.00/hr | Additional service |
| Review of input taxes | €49.00/hr | Additional service |
| Recording transcript on board of directors / general meetings | €39,00/pcs | Additional service |
| Annual declaration of dividends | €39,00/pcs | Additional service |
| Registration of financial statements to PRH | €49,00/pcs | Additional service |
| Recording expenses done outside Holvi into accounting | €5,00/pcs | Additional service |
| Other additional accounting work | €79,00/hr | Additional service |
| Tax consulting and corporate law work | €160,00/hr | Additional service |
| Processing of additional account transactions / receipts | €1,00/pcs | Additional service |
| Establishing a company | €480,00/pcs | Additional service |
| Investment activity handling | €79.00/hr or €91.00/hr when done as part of yearly financial statements | Additional service |
What is not included in the Holvi Zen+?
The Holvi Zen+ Service does not support following functions, nor it is not possible to add them to the service contract as separately purchased additional services:
- Personal accountant
- Payment of advance taxes
- Legal advice
- Company arrangements
- Debt counseling
- Debt collection
- Payment control
- Services for a minor
- Applying for VAT refunds from other EU countries
How to enroll in the Holvi Zen+ Service
The Holvi Zen+ Service requires you to first register as a Holvi account customer. You can choose our Holvi Zen+ plan in Holvi's user interface, and the services can also be added at any time.
Before the implementation of the Holvi Zen+ Service, we ask for additional information, so we can ensure the suitability of the entrepreneur⁷ as a user of the Holvi Zen+ Service and to prepare the start of accounting or the transfer based on already existing accounting materials. Holvi Zen+ Service experts support you during onboarding into the service until you are ready to be transferred under Holvi Customer Support.
The customer must provide the opening balances within two months of service acceptance to initiate the accounting process and avoid delays in service commencement.
Using the Holvi Zen+ Service
In Holvi Zen+ Service it’s essential that all of the company's money transactions take place through the Holvi account, because the accounting is based on transactions in Holvi and their receipts. You can collect income either by invoicing through the Holvi Zen+ Service or with an external payment terminal so that sales are credited to the company's Holvi account. The company's expenses can be paid either normally by bank transfer or with a Holvi Business Debit Mastercard® payment card or with a Holvi Business Credit Mastercard® credit card. Based on the account transactions, the accountant does the accounting and handles the VAT declarations as well as the financial statements and tax return.
Monthly cutoff for transactional data
The last day of delivering materials into accounting is always on the 5th day of the month for the previous month. If the materials are not delivered by the deadline or if the service fee could not be charged from the Customer, accounting being prepared will be interrupted and its delivery will be suspended, and the delivery time will be extended to 30 days.
Documents that are prepared late for the authorities, where the delay is due to the Customer's insufficient performance in delivering documents related to accounting and into Holvi, may cause a penalty fee according to the pricing schedule and cause Customers exclusion from Holvi Zen+ Service.
Using Holvi Zen+ on a daily basis
- Collect income through Holvi account
- Pay company expenses via Holvi account
- Add receipts, VAT and bookkeeping notes to transactions
Invoices sent from Holvi are automatically created as a receipt or invoice. If you make purchases for the company by paying with Holvi's payment card, you must save the receipt for the purchase in connection with the account transaction. You can take a picture of the receipt with your phone and save it with Holvi's mobile application.
If the company's invoices are paid from a Holvi account, the invoice can be attached to the payment, for example as a PDF file. It is easiest to order the company's invoices as online invoices, if it is possible for the invoicer. This way, the voucher is automatically saved in connection with the event.
Holvi reserves the right to invoice separately for additional work caused by missing entries.
Using Holvi Zen+ on a monthly basis
- Add receipt documents and bookkeeping details to all account transactions for the month. It’s highly recommended that you also add the applicable VAT into the receipts added into Holvi.
- Add any payment terminal sales reports to the latest monthly statement
- Check that your annual revenue estimate is up to date in OmaVero
You will need to report your estimated annual revenue to OmaVero independently. This estimate forms the basis of your withholding tax rate, so it’s important that it remains accurate at all times throughout the calendar year.
Holvi's accounting partner retrieves prepayment information for the accounting directly from OmaVero. As a Holvi Zen+ customer, you do not need to report your estimated annual revenue to Holvi separately.
Closing the Holvi Zen+ service
The notice period for the Holvi Zen+ service is one calendar month to the end of the subsequent calendar month the written notice has been issued. If you terminate the contract on the 10th of the month, the service will accrue a full monthly cost for both the current month and the following month, which will be invoiced from you. If a Holvi Zen+ Customer wants to terminate their service, it is recommended that this is always done at the end of the calendar month.
Please issue a written notice by Messaging or email to Holvi's customer support.
Example – How to close an accountYou ask to terminate the Holvi Zen+ service on April the 10th. The accounting is done for the current month and the following calendar month, i.e. the service ends at the end of May. |
If you do not want to continue using your Holvi account after the Holvi Zen+ Service has been closed, your Holvi account will be closed by the 8th of the following month after the notice period according to the provisions set out in the Terms of Service.
Upon closing the Holvi Zen+ Service, the Customer will be provided with a download link to the accounting material, which includes the income statement, balance sheet, general ledger, diary and all accounting-related documents.
This download link is valid for 2 weeks, and upon expiry the accounting materials will be archived.
However, if the customer has unpaid service fees related to the Holvi Zen+ Service or other open payments for purchased additional services, in connection with closing the service, the accounting material will not be handed over until these payments have been made.
Unpaid service fees can also be transferred into collection, if necessary, and serve as a reason for exclusion from the Holvi Zen+ Service.
Additional information
¹ From the beginning of 2025, the EU VAT system for small businesses will be introduced in the EU, which will extend the scope of the small business exemption to companies established in other EU countries. If a company has sales within the EU, the company can register for the EU VAT system for this purpose from 1st of January 2025. If the company's turnover excluding VAT from consumer sales produced in the EU in the current calendar year exceeds €100,000, separate notifications must be made to the tax authorities. Monitoring of these consumer sales is the responsibility of the client company (country-specific tax exemption limits) and can be done in OmaVero.
The practices related to consumer sales within the EU must be agreed separately with the accountant of the Zen+ service. The necessary notifications can be made by the accountant separately as an additional service according to the “Other additional accounting work” price list.
² If the company's industry is similar to one excluded by Holvi’s AUP, it may prevent the opening of a Holvi account and the use of Holvi Zen+.
³ Issuing a Holvi Business Credit Mastercard® involves a credit check, which influences Holvi's decision to issue a card, the customer's credit limit and interest rate. You can find more detailed information about the costs related to the credit card here.
⁴ Sales made via the Holvi online store are charged 2.5% of the sales value.
⁵ The salary payment services for Holvi subscribers is provided and managed by Suomen Palkanlaskenta Oy (FI25543933) through the Palkkaus.fi service. Holvi charges service fees related to salary payments based on the amount of salary payments done in a month according to the price list. The fees will be charged alongside the monthly subscription fee when applicable.
⁶ Monthly Holvi Zen+ subscription fee includes processing of 30 account transactions / receipts in the accounting per month. If this limit is exceeded, handling additional transactions / receipts will be charged according to Add-on services -price list.
⁷ In Holvi Zen+ service, the company must be in the advance collection register. The User must ensure that, if necessary, he / she can present a certificate of belonging to the advance collection register or that a notification has been made.
In addition, the accountant needs a suomi.fi authorization for the OmaVero service. In this way, the accountant can make a VAT return and give instructions for the payment of advance taxes. We ask for the rights by e-mail when starting the service.
The User must ensure that the company is also VAT -in the register, i.e. the company is liable for VAT. If the turnover is clearly below the VAT limit, i.e. 20,000 euros per year (starting in 2025), the VAT obligation is not mandatory, but we still recommend it.