Information about Bookkeeping in Sweden
You must decide, at an early stage, whether you are going to handle your own bookkeeping or let someone else do it for you. It will take up some of your time, but it will also give you a good look into what is going on in the company. Perhaps you need to learn more about accounting by taking a course or reading a book. If, on the other hand, you choose to get help from a bookkeeping consultant, a bookkeeping agency, or somebody else, you will reduce your workload and acquire a skilled person to discuss matters with. Be sure to find out what the assistance will cost you. The better you keep your papers in order, the lower the cost will be.
Good accounting is useful in many ways. On the basis of the information the bookkeeping gives you, you will feel safe in running your business. Up-to-date progress reports can be produced monthly and answer such questions as: What was the result? What does the result mean in the short term and how will it affect the business in the long term? How much money can be withdrawn from the company? If you are a sole trader, the bookkeeping will also help you to distinguish between your private money and the company’s funds.
All business transactions, i.e. everything that affects a company’s finances, must be documented. Vouchers are papers that document a business transaction and may be, for example, receipts and invoices. They can also be in the form of electronic information stored on diskettes or something similar. According to Swedish law, all accounting information should be saved for ten years. A voucher must clearly indicate the date of the transaction, what it applies to, the total amount with VAT specified, and the names of the buyer and seller.
For more information about bookkeeping firms, please go to the About section and click on List of Service Providers.