HOW TO KEEP A BOOK OF RECEIPTS AND EXPENSES?

Even if the auto entrepreneur benefits from lean accounting, a number of obligations fall on him. Depending on the category of its activities, BIC (Industrial and Commercial Profits) or BNC (Non-Commercial Profits), it is responsible for keeping a revenue book and / or an expense book up to date. These obligations are not always well understood. What are the accounting tasks to be performed by the auto entrepreneur with regard to the revenue book on the one hand and the expense book on the other hand? What penalties does he face if he does not respect these obligations? What information should be in the register? What are the methods to keep it simple, efficient, and without being overwhelmed – a task it is true a little off-putting? Do I need a PCG to keep my income and expense book? At WITY, the online accountant, we support entrepreneurs in all stages of the creation and development of their companies. Here is an update on the micro-entrepreneurs accounting with regard to the income and expense book and our tips for Folio3 goat record keeping software are up to date.

The obligation for the auto entrepreneur to keep a book of receipts and expenses

The income and expense book is the chronological record of the income and purchases made by the entrepreneur. This document is required by the administration for all business leaders benefiting from the microenterprise tax regime. There are two different books, that of income and expenditure.

The recipe book for BIC and BNC

The register of receipts, that is the sums received from sales or services, is compulsory for all auto entrepreneurs falling within the BIC and BNC categories. This book must include the following information:

Origin of revenue (name of customer)

Amount of revenue

Terms of payment (by check, transfer, cash)

Supporting references (invoice numbers, notes and tickets)

The book should be held to the daily and chronologically. If the sum of the receipts for sales or services to an individual is less than 76 euros, it can be consolidated and recorded at the end of the day. Regarding the terms of payment, it should be noted that the auto entrepreneur is not authorized to collect cash for an amount greater than 1000 euros.

The expense book

The register of expenses, or register of purchases, is an obligation only for entrepreneurs whose activity consists in selling goods, supplies, food to be consumed on the spot or to take away and to provide accommodation services . This second book must include, in the same way as for the recipe book, the following information:

Origin of purchases (name of supplier)

Amount of purchases

Method of payment (by check, transfer, cash)

Supporting references (invoice numbers, notes and tickets)

Other obligations

In addition to the revenue book and, if applicable, expenses, the auto entrepreneur must fulfill two administrative and accounting obligations. Thus, the auto entrepreneur must issue an invoice to his customers for each sale or service, and keep the supporting documents for a period of 10 years. In addition, he will need, at the latest one year after the creation of his company, to hold a professional bank account, dedicated to the activities of his company and when his turnover exceeds 5,000 euros per year.

Our tips for keeping your income and expense book

Several possibilities are available to the auto entrepreneur, to keep his book of receipts and expenses. The condition is that the entries cannot be modified once saved.

Paper

It is possible for the auto entrepreneur to keep the register of receipts and expenses in a simple notebook. However, accounting in an Excel file, via software – or even entrusted to an expert – as soon as the financial flows are ever so important, will make it possible to be more efficient and to avoid having to resort to the calculator.

Excel file and official templates

Several Excel models, including official models proposed by the administration, of journal books are available to facilitate the keeping of the book of receipts and expenses for auto entrepreneurs. It will make it possible to be more efficient in keeping the register, provided that the file is updated regularly.

Accounting software or accountant

For auto entrepreneurs whose activities generate significant income and expenditure – up to a limit of 70,000 euros for BNC activities, 170,000 euros for BIC activities, to remain in the range corresponding to the micro-tax regime – or that the accounting obligations put off, it may be useful to resort to other solutions. The accounting software can be very practical, as they facilitate billing operations and registry outfit, and give access to statistics through a dashboard. It is also possible to call on a chartered accountant, to guarantee – at a certain cost – the optimal maintenance of the register of purchases and expenses.

Micro-entrepreneur – final payment – Blog WITH

Finally, keeping his recipe book is an obligation for any auto entrepreneur, which can weigh on his shoulders if it is not properly updated, and expose him to financial penalties. We recommend, depending on the scope of your activity, to use dedicated software or to call on a chartered accountant.

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