Starting an accounting firm in Finland: a guide to your first clients

1. Choose your first client segment

Start with businesses whose operations and accounting you understand. A small service company, an online shop and a construction business can have very different monthly routines. A clear focus helps you estimate the workload and explain precisely what the client is buying.

Write down the work you will not accept yet. Complex international trade, inventory and specialist payroll cases may require further expertise or a partner. Plan who can provide a second opinion and how clients will be supported when you are absent.

• Which business forms and industries will you serve?
• What will clients do themselves, and where will they need advice?
• What kind of documents and transaction volume fit your service?

2. Plan income and working time separately

Client count alone does not determine profitability. First calculate fixed monthly costs, costs per client and the amount the business needs to leave for owner compensation and profit. Then estimate how many working hours that client base requires.

Include insurance, training, sales, security and your own administration in the budget. Allow separate time for initial onboarding. Spread annual accounts and other yearly work across your monthly estimate, but also check peak-season capacity. Invoiced revenue is not yet cash in the bank.

• Separate setup spending from recurring costs.
• Model both a modest client base and your target client base.
• Allow working capital for slower acquisition and payment terms.

3. Set up the business and registrations

Choose a suitable business form and check its formation requirements with the Finnish Patent and Registration Office (PRH). Submit the required notification and check tax registrations. Electronic Trade Register filing is the general rule in 2026, with exceptions including sole traders.

Plan banking, your firm’s own bookkeeping and insurance before the first engagement. Check whether YEL insurance applies to you and consider professional indemnity cover. If considering a start-up grant, confirm application timing with the employment authority before starting operations.

PRH: starting a business (Finnish)

4. Establish client due diligence

Make client acceptance a repeatable process. Record which information is needed, who assesses it and when it is updated. A software check does not replace your firm’s own assessment.

1. Collect and verify the client’s basic details

2. Verify the representative’s identity and authority

3. Establish the ownership chain and beneficial owners

4. Understand the business and money flows

5. Check PEP status and sanctions risks

6. Document risk and any additional enquiries

7. Record the acceptance decision

8. Plan monitoring and retain the evidence

Read the full KYC guide: practical steps and links to legislation

5. Agree on scope and authorisations

Use a written engagement agreement covering tasks, document deadlines, pricing, additional work, responsibilities and termination. Taloushallintoliitto recommends written agreements across the sector. Also agree on personal data processing in line with each party’s role.

A service agreement does not itself grant electronic authorisation. Request and check the necessary Suomi.fi mandates. The ‘Managing tax affairs’ mandate does not cover Incomes Register reporting, which has separate mandates. Check banking connections, software connections and user permissions separately.

• Agree on how late or incomplete documents are handled.
• State whether annual accounts, tax returns and advice are included in the monthly fee.
• Define access rights, document retention and handover when the engagement ends.

Taloushallintoliitto: contracts and agreements (Finnish)

Finnish Tax Administration: Suomi.fi authorisations

6. Test software through a complete month

Creating an invoice in a demo does not tell you whether the software fits your firm. Test document arrival, exceptions, review of entries, reconciliation and reporting. Include the client’s perspective: can they submit a receipt from a phone without lengthy instructions?

Request a proposal for your actual client mix. Check usage charges, onboarding, support and data export as well as the monthly fee. Write your selection criteria beforehand so a low introductory price does not obscure differences in workflow or total cost.

• Test one typical transaction and one exception from beginning to end.
• Establish who reviews automated suggestions.
• Measure time yourself; do not build the budget around a marketing claim.

7. Win first clients with a clear proposal

Start with your professional network, local entrepreneur communities and contacts in your chosen industry. Explain who the service suits, how collaboration works and what you need from clients. A focused offer is easier to evaluate than a promise to handle every financial task for every business.

Give prospects one clear next step: a brief needs discussion, followed by a written proposal. Publish your contact details, expertise and service process on your own website. Use feedback and references with permission once you have them.

8. Turn the first month into a template

At onboarding, list opening documents, outstanding balances, access rights and unresolved matters. Agree on a document deadline, communication channel and contact person. For a transferring client, clarify the boundary and responsibilities between previous and new bookkeeping before starting the new period.

After the month, compare actual time with your estimate. Separate recurring work, one-off setup and tasks outside scope. If the workload grows, first improve responsibilities and document delivery, then review scope and pricing with the client.