How do you keep a cash book correctly?
Posted: Tue Jan 07, 2025 3:31 am
What exceptions are there?
As a business owner, you are exempt from the obligation to keep tax accounts if the following requirements are met:
Your turnover honduras phone phone data does not exceed 600,000 euros per year
The winnings do not exceed 60,000 euros
There is no obligation to keep accounts and prepare financial statements, e.g. due to the legal form or an accounting obligation under commercial law
Every single business transaction must be properly documented in a cash book . You need this information to write a cash book correctly:
the date
every income or expenditure with amount and currency
a document number to clearly assign the business case
an explanatory booking text
the applicable sales tax rate
the amount of VAT or input tax for each business transaction
the current cash balance after each booking
Which accounting principles apply?
There are a few principles that you should definitely follow when it comes to bookkeeping. They can be summarized as follows:
Accuracy and freedom from arbitrariness : Every business transaction of a company is recorded mathematically and factually correctly
Regularity : Business transactions are recorded chronologically and promptly
Completeness: All records are made correctly, completely, in an orderly and timely manner
Clarity and transparency : Prescribed retention periods are observed, understandable language is used and the annual financial statements are prepared in German and in the euro currency
Security : All organizational measures are taken to ensure the secure archiving of all records and the retention periods are observed
Individual valuation : Assets and liabilities are valued individually
Receipt principle : Every booking is made with a receipt, no receipt is created without a booking
As a business owner, you are exempt from the obligation to keep tax accounts if the following requirements are met:
Your turnover honduras phone phone data does not exceed 600,000 euros per year
The winnings do not exceed 60,000 euros
There is no obligation to keep accounts and prepare financial statements, e.g. due to the legal form or an accounting obligation under commercial law
Every single business transaction must be properly documented in a cash book . You need this information to write a cash book correctly:
the date
every income or expenditure with amount and currency
a document number to clearly assign the business case
an explanatory booking text
the applicable sales tax rate
the amount of VAT or input tax for each business transaction
the current cash balance after each booking
Which accounting principles apply?
There are a few principles that you should definitely follow when it comes to bookkeeping. They can be summarized as follows:
Accuracy and freedom from arbitrariness : Every business transaction of a company is recorded mathematically and factually correctly
Regularity : Business transactions are recorded chronologically and promptly
Completeness: All records are made correctly, completely, in an orderly and timely manner
Clarity and transparency : Prescribed retention periods are observed, understandable language is used and the annual financial statements are prepared in German and in the euro currency
Security : All organizational measures are taken to ensure the secure archiving of all records and the retention periods are observed
Individual valuation : Assets and liabilities are valued individually
Receipt principle : Every booking is made with a receipt, no receipt is created without a booking