Already before the actual incorporation of the cooperative, it is advisable to search accounting firms, in order to ensure that the early data are reported correctly to the Trade Register. The financial year lasts 12 months, but it does not have to be calendar year. The first financial year can be between 6 and 18 months long. You must remember that by filing the incorporation form, the cooperative is registered in different databases of the tax authorities according to the cooperative’s needs (prepayment tax, value-added tax, employer register). More information: www.prh.fi.
The right to sign may be assigned to one or more persons. It is worthwhile to remember that different authorities’ sites (Tax Office, Patent and Register Office) are easier to use if only one person in the cooperative is authorized to sign. The rules can stipulate that the chairperson of the board and the managing director can both sign alone in the cooperative’s name. Another solution is to stipulate in the rules that only one person has the right to sign, and the board of directors then assigns by its decision any other persons authorized. After the cooperative is registered and received the business ID (Y-tunnus), you have to apply a suomi.fi ID, with which you report data to different authorities. The accountant firms of the cooperative can be authorized to submit tax declarations and Incomes Register reports. More information: www.suomi.fi
It is advisable that the cooperative chooses one person who takes care from the very beginning of all financial management and acts as a contact person for the accounting firm.