FAQ about invoice

How do I invoice without being registered for corporation tax?

Everyone who runs their own business must be officially registered for corporation tax (known as F tax) and pay this tax to the Swedish Tax Agency.

Here at Cool Company, we offer an alternative. You can work on your own assignments and do your own invoicing, but you don’t have to register your own company or register for corporation tax. We take over employer responsibility and pay the corporation tax on your earnings. For this we take a commission of 5.98% on your invoice amount before VAT.

This means you can take on assignments and earn money without registering your own business. We also take care of everything to do with taxes, contributions and VAT. We also send you all the verification data for your self-assessment tax return in January. In addition, our system gives you a clear, simple overview of all your invoicing, clients, specified items, employees and so on.

Has my invoice been sent?

As soon as we approve your invoice and book it into our system, it is sent on to your client, either by email or regular post, depending on your selected preference. You always receive an email and a message on your Timeline when this has been done.

Has my client paid?

As soon as we receive payment from your client, you receive a confirmation email from Cool Company. We are, however, unable to predict exactly when a client is going to pay an invoice. When a client tells us they have paid an invoice, the funds take a couple of banking days to reach us. Uncertain as to whether a client has paid? If so, you can always ask for a payment receipt, which can then be sent to us. That way, we can quickly see whether anything is missing, and roughly when we will receive the funds.

What happens if the client doesn’t pay?

If the client has not paid, a payment reminder will be sent. This is done three business days after the payment due date on the invoice. If it is still not paid, Cool Company will contact you to see whether you wish to initiate debt collection proceedings. We will, however, have to ensure that certain requirements are met before we can start debt collection proceedings; for example, we need written confirmation from the client that you have done work for them.

FAQ about invoice

What is ExpressPay?

ExpressPay is a loan service over and above the normal invoicing/admin service. With ExpressPay, we pay your invoice within 24 hours after your client confirms you have completed the assignment.

What happens after I’ve sent my invoice?

Cool Company checks that the invoice is complete and then sends it on to your client. All paperwork and administration (including reminders where applicable) are taken care of by Cool Company. You will be notified by email and by Timeline message when the invoice has been paid.

What do I do about expenses and travel costs?

If you have expenses and travel costs to include on an invoice, you will find the relevant sections at the bottom of the invoice form. You will also need to submit receipts to us digitally (uploaded via our website or scanned copies by email), or original receipts sent in by post. The expense must be relevant to the assignment in question. If in doubt, please contact Customer Support and we’ll be happy to help you sort it out.
Note: For expenses over SEK 4,000 including VAT, Cool Company Skandinavien AB must be given as the recipient on the receipt.

For travel costs, we deal with both mileage and allowances within Sweden and internationally.

How do I claim for purchases of materials?

You are entitled to claim for expenses, as long as they are directly related to the assignment.

Expenses you can claim for are travel, accommodation, rental of premises and consumables. Consumables refers to materials used during the course of an assignment. You must always submit receipts, in digital or physical form, to have your expenses approved.

To claim the entire amount, you must also invoice your client for your expenses.
Note: For expenses over SEK 4,000 including VAT, Cool Company Skandinavien AB must be given as the recipient on the receipt.

How do I claim travel costs?

You may be entitled to claim for travel expenses, which includes vehicle mileage, and domestic and international allowance. We apply Swedish Tax Agency rules for this.

The mileage rate you can claim is SEK 1.85/km tax-free. You enter your mileage details when creating your invoice. The dates you have worked must match the dates for which you are claiming mileage.
Allowance is a tax-exempt standard amount that varies depending on the country. Full-day and half-day allowances are available. When you invoice through us, you are entitled to an allowance if you spend at least one night more than 50 kilometres from your home. 

The allowance is not usually added onto the price you charge your client. It is intended to cover the higher costs of working away from home. Please contact us if you have any questions about allowance and we’ll guide you through the process.

To make sure you receive the entire amount of travel expenses, you must also invoice your client for them.

How do I allow my client to pay by Swish?

With Cool Company, you can have your private, non-commercial clients pay immediately by Swish, rather than issuing an invoice. You send a payment request to your client’s phone, and the client then sends the payment by Swish at the push of a button. You receive the payment and get your salary faster. The funds will be in your My Money account as soon as the payroll process is complete (usually within 24 hours).

To enable your clients to pay by Swish you need to:

  • Enter your details under Settings
  • Add goods and services to the online service and have them approved for Swish payment

It costs just SEK 4 excl. VAT to conduct a Swish transaction through Cool Company, in addition to our standard fee. This will be regulated automatically when salary is paid to you.

Can all clients pay by Swish?

At the present time, your private, non-commercial clients can pay by Swish if they prefer. Theoretically, however, any client with the Swish app activated on their phone can receive a payment request and pay by Swish.

What does it cost to allow clients to pay by Swish?

It costs SEK 4 excl. VAT, in addition to Cool Company’s standard fee (5.98%) to conduct a Swish transaction through Cool Company. This will be regulated automatically when salary is paid to you.

Is there any limit on how much can be paid by Swish?

Your client decides how much they can pay by Swish in their online banking settings. Generally speaking, private individual have a maximum amount of SEK 3,000 a week, but it is possible to make payments up to more than SEK 100,000.

Can the client make all payments by Swish?

Only payments set up using the built-in Swish function can be made by Swish. Regular invoices created in Cool Company’s online portal are paid in the usual way.

Illustration of Express pay

Can the client pay for all kinds of services by Swish?

All the services you wish to offer and get paid for by Swish must be approved by Cool Company. You can simply add these in the online portal under Goods and Services and check the box Allow Swish payments. Cool Company’s Customer Support will then check them and approve them as quickly as possible.

Once the service has been approved, you can simply select it from a menu, add a quantity and adjust the price if necessary. Then simply send a payment request to your client.

What happens if the client doesn’t pay after a payment reminder?

Clients generally pay within a few minutes of receiving a payment request. If the client does not pay immediately, a text reminder is sent after 24 hours with a link that reactivates the payment request.

If the client still doesn’t pay, the payment request is automatically converted into a standard invoice. It is then handled as per Cool Company’s standard procedures, including reminders.

Can I choose currency and payment terms for Swish payments?

Swish can only handle payments in Swedish kronor (SEK). The payment is carried out instantly by the client, which means that no terms of payment have to be stated. If a Swish payment is converted into a standard invoice, the payment terms are automatically set at 30 days.

Can I add expenses to my Swish invoices?

It is not possible to include expenses in Swish payments. If you wish to claim expenses, you will need to create a standard invoice and add your expenses accordingly.