Simplified accounting - sole proprietorship

The enkelvoudige of vereenvoudigde boekhouding is mandatory for all sole proprietorships. So this also applies to most freelancers, whether in main or secondary occupations. It goes without saying that you must be able to prove all income and expenses. Nowadays there are numerous free online accounting programs that will help you do this.

What does simplified accounting entail?

1. Purchase Journal

This consists of all invoices, bills or notes that strike the expenses of your business and are numbered and sorted by date. Some expenses must be split into private and professional parts such as the telephone bill, for example.

2. Sales Journal

In het verkoopdagboek komen alle facturen die je opmaakt voor je geleverde diensten. Dit kan je zelf doen of aan de hand van een factuurprogramma. Ook deze facturen worden genummerd en gesorteerd op datum, wat zorgt voor een overzichtelijke administratie.

3. Financial journal

Hierin worden alle betalingen en ontvangsten voor bedrijfsdoeleinden genoteerd. In de praktijk zijn deze boekingen meestal geautomatiseerd. Zolang je een vereenvoudigde boekhouding moet bijhouden, hoef je enkel en alleen je bankuittreksels bij te houden.

4. Inventory diary

Every year you must take an inventory of your debts and assets. This is an accounting law, so those who only keep records for tax purposes do not have to take this into account.

Simple accounting may be another advantage, but there is, of course, a disadvantage to this. For example, simplified accounting does not apply to sufficient burden of proof. If you ever come to a legal dispute with the tax authorities, you will be at a disadvantage. So the choice to apply single- or double-entry bookkeeping depends not only on the nature of your business but also on the risks you yourself are willing to take.

Do you still have questions? GIGHOUSE is happy to assist you. Download the app And register as a freelancer!