One of the most important things you need to have in order after starting your own business is good bookkeeping. Because whether you are a starter or have been on the road for a while, having good clear records will save you a lot of time. It also prevents mistakes and ensures that you comply with all obligations from the tax authorities. We will gladly explain to you how to set up a good bookkeeping system and continue to benefit from it. At Van Passe B.V., we are happy to help make bookkeeping as easy as possible for starters.
Why is good accounting important?
To begin with, you are required to keep records. Nevertheless, it helps you to:
- quickly understand your finances.
- make good business decisions.
- avoid hassles with the Inland Revenue.
- keep your invoices and payments clear.
The key is a good accounting system. After all, that makes the process so much easier. That is why we work with MoneyMonk. This is a fine, user-friendly platform that always gives overview and makes accounting super easy for start-ups.
What do you need to set up your accounts?
Of course, you want to have clear records from day 1. To do this, follow these steps.
- Open a business account: This keeps your business and personal expenses separate.
- Choose the best accounting software: MoneyMonk is a smart tool we use to give our customers easy insight into their money matters.
- Save your invoices and receipts: You can easily do that digitally. But be careful not to lose them.
- Keep your VAT records: Make sure you know when and how much VAT you have to pay to the tax authorities.
Do it yourself or outsource?
Do you do your bookkeeping yourself, or do you outsource it to an accountant? This is now the key question. Doing your own bookkeeping may seem cheaper, but it can also be time-consuming and risky. After all, what could happen?
- VAT returns not correct. This can lead to ugly additional assessments and fines from the Inland Revenue.
- Missing the right deductions. This may make you pay unnecessary taxes later.
- Losing your overview. You will soon not know what money you can still spend. And that could cause cash flow problems, putting you in financial trouble.
- You lose a lot of time. All this red tape will soon all work to the detriment of your business.
We help you as an entrepreneur by keeping your administration orderly. And we help you process tax returns correctly and on time. For a monthly payable amount we take this financial worry off your hands. So you can focus on what really matters: doing business. This will save you time and allow your company to grow optimally.
View the rates.
Common mistakes and how to avoid them
- No record keeping: Start right away, that way you avoid problems later.
- Forgotten to file VAT return: Note deadlines or set an automatic reminder.
- Confusing private and business finances: Use a separate business account.
