Adding a business to NoCFO

Adding a business to NoCFO takes about a minute. The guided setup has three steps: you search for your business by name, choose the business form, and state whether the business is registered for VAT. A single NoCFO account can hold several businesses.

Before you start

• The official name of the business. If the business is not found in the register, you also need its Business ID.

• Whether the business is registered for VAT. You can check this in OmaVero.

Step 1 of 3: Find your business

Open the Your businesses view and click New business in the top right corner.

Type the name of your business in the Business name field and select it from the results. NoCFO looks the business up in the Finnish Business Information System (YTJ) and fills in the following for you:

• Legal name

• Business ID

• Business form

• Registered address

The market area is selected in the top right corner of the page. Finland is the default.

If your business is not in the results, click Can't find it? Continue manually and enter the Official business name and Business ID yourself. A business registered very recently may not appear in the register for a few days.

Step 2 of 3: Choose the business form

If you selected the business from the search results, the business form is already filled in. The options are:

• Limited Company (Oy)

• Public Limited Company (Oyj)

• Sole Proprietorship (Tmi)

• Limited Partnership (Ky)

• Cooperative (Osk)

• General Partnership (AY)

• Housing Company (As Oy)

• Real Estate Company (Koy)

• Association (ry)

Step 3 of 3: VAT registration

Select Yes if the business is registered for VAT, otherwise No. Finally, click Create business.

What happens after the business is created

The guided setup does not ask for everything that starting your bookkeeping requires. Go through these three items right after creating the business.

1. Confirm the accounting period

Open Accounting periods from the left menu. NoCFO has set the accounting period to the current calendar year (1 Jan – 31 Dec) and asks you to confirm it: the view shows Start date, End date and a Confirm period button.

Check the dates before confirming. If your accounting period is not the calendar year, or this is a first accounting period that is longer or shorter than usual, correct the dates at this point. You can find your business's accounting period in the Trade Register or in the articles of association.

2. Check the VAT period length

Go to Settings → Accounting settings and automation → VAT settings and look at VAT period length. Change the value with the Edit button.

The default value is Month. If your VAT period is a quarter or a year, change it right away — otherwise NoCFO tracks and reports the wrong periods. You can check your own VAT period length in OmaVero.

The same view also contains the VAT posting method. More information: VAT settings.

3. Add a bank connection

A bank connection is not added while the business is created. Add it under Settings → Bank connections and integrations, or with the Add integration button on the dashboard. Until a bank connection exists, the balance and forecast on the dashboard stay empty and NoCFO cannot suggest bookkeeping entries automatically. Instructions: Adding a bank connection.

The Service onboarding checklist

After the business is created, the app opens the Service onboarding checklist. You can find it later from the left menu under Get started, and your progress is shown in the menu's progress bar. The list covers adding a bank integration, the mobile app, importing files and invoices, and bringing over your previous bookkeeping. You can work through it at your own pace and skip items.

Note that the checklist does not include confirming the accounting period or checking the VAT period — those have to be done separately as described above.

Why do VAT periods show as Missing?

On a new business's dashboard, the months of the current year that have already passed show up under VAT periods with the status Missing. This is normal: the periods have not been created because no bookkeeping has been done in NoCFO for those months. If the business was founded during the year, or you are moving to NoCFO from another program, you do not need to create past periods retroactively in NoCFO.

If something goes wrong

”The Business Information System didn't answer. Search term too broad, specify search.”

The search term matches too many businesses. Type a longer part of the name. If the message repeats even with a precise search term, wait a moment and click Try the register again, or continue with manual entry from Enter details by hand.

”Business ID reserved”

The same Business ID has already been added to NoCFO. Check your business list in the Your businesses view. If the business is not on the list, contact customer support in the app chat.

Next steps

• Adding a bank connection

• Adding receipts and vouchers to your bookkeeping

• Getting started – switching from another bookkeeping program – if your business has earlier bookkeeping history in another program