Simply put: bookkeeping is keeping your financial administration up to date. Do you do your bookkeeping yourself? Then you often know better what comes in, what you spend and what your financial space is
Did you know that the Tax Office expects you as an entrepreneur to arrange your tax matters properly yourself? And that you must keep your bookkeeping for at least 7 years?
Doing your own bookkeeping not only gives you insight into how your business is doing financially (and where you can make adjustments), but also has these advantages:
Starting with doing your own bookkeeping? This step by step plan helps you on your way:
"}},{"componentType":"accordion","accordionList":[{"title":"Step 1: Open a business account","richBody":{"value":"Doing your own bookkeeping starts with overview and insight. A business account helps with this. With a business account you keep your company’s money separate from your own money. This way you no longer have to search among all the grocery transactions for your business credits and debits. Handy, because this gives you immediate clarity on which credits and debits you need to include in your administration.
> Apply for a business account
"}},{"title":"Step 2: Choose which way of bookkeeping suits you","richBody":{"value":"Doing your own bookkeeping in Excel or bookkeeping with an online accounting programme? There are different options for setting up your own bookkeeping. Carefully review the various options and decide which way of doing your own bookkeeping suits you and your business best.
"}},{"title":"Step 3: Collect all documents","richBody":{"value":"Your bookkeeping is nothing more than an overview of your financial situation. It shows which money has come in, which invoices have been paid and what other expenses you have had, such as purchases, business lunches, and so on. It is the basis of your tax return. The Tax Authority sets a number of requirements.
If you want to do your own bookkeeping, include at least the following items (if applicable to your business):
Now that you have decided how you want to do your own bookkeeping and have gathered all the items, it is time to get started. A good foundation is crucial because a good start is half the work. What does this foundation consist of?
Organising your administration properly and creating a clear structure will save time in the long term. Therefore, schedule a fixed moment each week for your administration to keep things in order. Reserve some extra time for the first few times. A fixed routine can help with this. What can you think of?
A good administration is a strong financial basis. Also check these 3 smart tips:
"}},{"componentType":"accordion","accordionList":[{"title":"Tip 1: Spend enough time on your bookkeeping","richBody":{"value":"Perhaps the most important insight when learning bookkeeping: do not neglect your bookkeeping.
Do you spend about 15 minutes each week on your administration? Then you have a general idea of what is happening within your business. Whether you work as a self-employed person or have an SME. Know where your money goes and what comes in.
Especially with the latter you prevent missing invoices that have not yet been paid.
"}},{"title":"Tip 2: Consider a bookkeeping package","richBody":{"value":"Convenience serves people. An accounting package is a programme (software) that allows you to do your own bookkeeping. Of course, there are costs involved. Most accounting programmes keep track of your income and expenses. There are also packages with extra features. Think of:
Which accounting package suits you as an entrepreneur depends entirely on your preferences.
Good to know: all accounting programmes we recommend can be easily linked in Mijn ING Zakelijk to your business account. You can then do your bookkeeping directly online.
"}},{"title":"Tip 3: Be alert to the invoice date","richBody":{"value":"According to the Tax Authority you may not send an invoice later than the 15th day of the month following the month of delivery.
For example, have you completed an assignment on 7 October? Then your invoice must be sent before 15 November. Do you send it later? Then within the invoice system you must declare the VAT in the period in which you should have sent the invoice.
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