How do I set up my bookkeeping properly?
Short answer
Start with a separate business account and accounting software with a bank feed. Record all your sales invoices, purchase invoices and receipts digitally and match them to your bank transactions. Also keep track of your hours and business kilometres, and keep everything for 7 years.
Updated on · Reviewed by the tax advisers at Boekhoudvriend
As an entrepreneur, you are legally required to keep records that show your rights and obligations. Your tax returns are based on them, and the Dutch Tax Administration (Belastingdienst) must be able to check them.
What belongs in them
- Sales invoices with sequential numbers
- Purchase invoices and receipts for business costs
- Bank statements from your business account
- Contracts, quotes and subscriptions
- A record of your hours if you want the self-employed deduction
- A mileage log if you drive for business
How to keep it up to date
Process your documents continuously rather than every quarter. Forward receipts straight from your email or take a photo of them in the app. The sooner a document is in, the less goes wrong at the end of the quarter.
Sources
- Belastingdienst: setting up your records (in Dutch)
- Belastingdienst: how long must you keep records? (in Dutch)
This answer is general information, not personal advice. Your own situation may work out differently, so feel free to ask our team.