1. Keep work and private life separate
For the sake of clarity, it is essential that entrepreneurs separate work and private matters. So always open a business account, so that all business transactions now go through that account. This way you also prevent your private administration from being involved in an audit. If you want to compare all the different boekhouder tarieven, you can clearly see that there are quite some differences between the prices.
If you keep everything separate, you don’t have to keep everything long. With your business administration, the seven-year retention period applies to the Tax Authorities. Five years for private matters. We recommend that you check out Eindhoven boekhouder or Amsterdam boekhouder to see all the regular prices for these services.
2. Monthly update: efficient and lucrative
Check every month how you are doing and process receipts and invoices immediately. It is even mandatory not to send your invoices too late. The tax authorities want you to do this no later than the 15th in the month after you have delivered a product or service.
Fast invoicing is also good for your cash flow. The faster the amount is in your account, the faster you can invest in your company or development. Moreover, you can immediately put large amounts aside to save or invest. You can also quickly see if customers have not yet paid and send a reminder. Also read: 6 tips to outwit defaulters.
3. Work on invoice date
Billing dates always apply to your VAT return and income tax. Will you receive an invoice on March 29? Then it applies to the first quarter. Even if you only pay it on 1 April. This also applies to invoices that you send. Save everything immediately with the correct date. Getting started with your VAT? Read Calculate VAT for entrepreneurs and use the handy VAT calculator.
4. More than receipts and invoices
You can digitally archive your records, so you don’t need a row of binders. Please note that you can find everything properly: cash journal, bank book, purchase and sales book, invoices, quotations, contracts, appointment book (an agenda is sufficient) and time registration. Not everything applies to every company, but make sure you can find everything quickly.