yritystilin

Yritystilin is the bank account opened in the name of a business entity in Finland. It is used to manage the company’s financial operations and to keep business finances separate from the owner’s personal funds, supporting clear accounting, tax reporting and governance.

Typical functions of a yritystili include receiving payments from customers, paying suppliers, handling payroll and taxes, and managing cash flow. The account is often used together with online banking, debit or credit cards for the business, and sometimes merchant services for card payments. Many accounts offer features such as multiple signatories, integration with accounting software, and the ability to issue invoices or process electronic payments.

Who uses a yritystili? Common forms of business structures in Finland, such as toiminimi (sole proprietor), osakeyhtiö (limited liability company), and other partnerships, maintain a separate business account. Opening a yritystili generally requires official business registration documents, identification for authorized signatories, and, in many cases, a Finnish business ID (Y-tunnus) and registry extracts from the appropriate authorities.

Costs and terms vary by bank and account type. Typical considerations include monthly maintenance fees, transaction charges, card fees, and potential overdraft or credit facilities. Many banks offer packages tailored to different business sizes and may provide integration with accounting and payroll systems.

In summary, a yritystili is a central tool for corporate financial management in Finland, facilitating separation of business and personal finances, regulatory compliance, and efficient handling of payments and receipts.