Organize yourself

At the basis of the accounting, there are the accounting documents and receipts.
The type of one's organizing with regard to the accounting, depends on the size of the activity and the amount of documents.
The way one organizes things has to be adapted to what is needed.
We are listing down below an indication of possibilities that have proven to be very useful.

 

The different types of documents
It is important to distinguish and organize specifically the different types of documents.

  • Basic documents: contracts for rent, telephone subscriptions, statutes, insurance contracts and everything that gets signed only once and is valid for several years. These documents need to be kept in a separate folder or binder, containing just this type of documents. For some of these very important documents (like receipts for down payments, etc.) it may be useful to make a photocopy and keep the original in a safe or a safe place. Don't make holes in important documents, but put them in transparent plastic folders. This binder is the basis of your activity/company and you need to handle it carefully.
  • Documents related to employees: Contracts, insurances related to personnel, and other; it is useful to keep these in a separate binder.
    If there are lots of documents, we advise you to use one binder per theme.
  • VAT Declarations: it is good to keep a special binder with the different declarations that you present at a regular basis (quarterly, by semester or yearly). For your VAT inscription or other general documents, it is better to keep them together with the basic documents.
  • Accounting receipts and documents of the year: these are receipts, invoices or other items that are related to an expense or a receipt. These have to be kept separately, year by year. For every year you will have a binder with these kinds of documents.

 

Accounting documents
A good day- to-day order is needed in order to enter the accounting transactions and to control the situation of the company, such as the cash flow, the totals of debtors and creditors, etc.

  1. All accounting documents (receipts, invoices, tickets) usually have to be kept for a minimum of ten years.
  2. Classify and put the accounting documents in order by date, together with the related bank statements for the payment or the receipt.
  3. Write a progressive number on the accounting documents (statements and others). With this number, that should be inserted in the Doc column, you can locate the accounting document, with the accounting as a starting point.
  4. At the end of the year, print a copy of the journal and keep it together with the accounting documents.
  5. Usually a new binder is being used for each year for the accounting documents.


Issued invoices or receipts with an accounting at the moment of payment
Small companies and associations enter the invoices only in the accounting at the moment of payment (cash method).

  1. Separate the issued invoices and those for which you have received the payment.
  2. Verify regularly the invoices on hold for which payment still needs to be received. As soon as the due date for the payment has passed, it is useful to send a payment reminder. Don't let too much time pass by, make sure you receive the payment for unpaid invoices. This takes time, but is it important.
  3. Once these invoices are paid, put them together with the normal accounting documents.


Issued invoices or receipts with an accounting on the sales volume
The invoices are being registered at the moment they are issued as well as at the time of payment.
See also: Clients/Suppliers Registers

  1. Separate the issued invoices and those for which you have received the payment.
  2. Verify regularly the invoices on hold for which payment still needs to be received.
    As soon as the due date for the payment has passed, it is useful to send a payment reminder.
    Don't let too much time pass by, make sure you receive the payment for unpaid invoices. This takes time, but is it important.
  3. When you enter the issuing of the invoice in the accounting, make note of the registration on the invoice. On the transaction row, use the "Doc. Original" column to insert the invoice number.
  4. Once the are invoices are paid, move them over to the "paid" section, and enter them in the accounting.
  5. When you have entered them, make note of the accounting transaction on the invoice (for example with a "checked" sign)


Transactions / frequency

  • It is good to regularly enter the transactions in the accounting (daily, weekly, monthly).
  • We strongly advise you to not neglect entering the accounting transactions, so that you always have updated information and can evaluate the progress of your activity.
  • By going over the different expenses account numbers, you can easily have an overview of the different expenses that you made.
  • The accounting is not just done for the tax authority.

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