For consultants and freelancers, the number of invoices is often manageable, but every single one counts: fees with daily rates, installments, travel expenses that are passed on to clients, and clients abroad. VAT errors can quickly add up here. We post entries exactly as you write your invoices and point out any missing information.
Your tax advisor decides whether you work as a freelancer or run a trade business, and whether you need a cash-basis income statement or a balance sheet. For the bookkeeping, this means different processes: with the cash-basis income statement, the date of payment counts; with the balance sheet, the invoice counts. We set up your bookkeeping accordingly. If the method of determining profit changes, for example because revenue is growing, we switch your bookkeeping over at the start of the new year.
Many expenses are mixed: the vehicle, the home office, the phone, software, and continuing education. So that the tax advisor can allocate them correctly, we need the receipts in full, along with the details you provide. Entertainment and travel expenses must be documented with the occasion and participants.
If you purchase design, writing, or photography services from self-employed individuals, you may be required to pay the artists’ social security contribution. Your tax advisor will determine whether this applies to you; we’ll compile the relevant invoices for them. The contribution is based on the fees paid and is reported once a year.
Many consultants work alone or with just a few employees and start out under the small business scheme; later, they charge VAT as normal. This switch needs preparation: your tax advisor clarifies when you must start issuing invoices with VAT and whether advance VAT returns must be filed monthly or quarterly. We keep track of your revenue and let you know as you approach the thresholds.
