An important part of any successful business – regardless of size – is accounting. For many entrepreneurs, accounting is the least fun thing to do, but it is important that it is done. If you don't have proper accounting, your business will never thrive. With good accounting you can see at a glance how you are doing, it makes further growth possible and enables you to tackle growth just that little bit better. A good way for starting and small entrepreneurs to easily do the bookkeeping is to choose online bookkeeping. Here are 7 reasons why starting and small entrepreneurs choose online accounting.
1. Low costs compared to a bookkeeper or accountant Having your administration done by a bookkeeper or accountant can seem tempting if you don't feel like going through all the numbers. But there is a price tag that can run into hundreds or perhaps thousands of euros per year. That's all money you could spend on your business or keep on hand for times when you need it. You can get an online accounting program from less than 10 euros per month, depending on the package you choose. Moreover, it is nice to keep an overview yourself, so that you can respond quickly to current developments.
2. No thick folders with receipts You must keep your administration for at least 7 years for the tax authorities. This includes invoices, receipts, bank statements, contracts, agreements, diaries, quotations, correspondence and more. So it takes up a lot of space, and it also takes a lot of time to organize it neatly. And if your administration is not complete or you have not kept it long enough, you can get hefty fines. In addition, the Tax and Customs Administration will then determine your turnover and profit itself and calculate the tax due. This can have a negative effect. With an online accounting program you can archive your administration online.
3. VAT return, error-free &within 1 click
As an entrepreneur you will of course have to deal with VAT returns. In your return, you state the VAT that you have charged to your customers, and the VAT that you can deduct. You do this per month, quarter or year. You also have to make sure that you make your declaration and payment on time. With an online accounting program you do not need accounting knowledge to file a tax return. And it's simple too. The amounts are automatically ready for you when you have booked everything. So you are assured that everything will go without a hitch.
4. Stylish (and English) invoices
Even if you are a starting or small entrepreneur, you still have to send invoices regularly. From a legal point of view, an invoice in the Netherlands must always meet a number of conditions. Not sure exactly what they are or do you find it difficult to prepare a good-looking invoice? Then an online accounting program offers a solution. You can easily create invoices quickly, and the total amount is always calculated automatically with prices including and excluding VAT. This means you no longer have to do this manually and the chance of errors is minimized. You can send or download the invoices immediately after creating them. You can also create invoices in English in no time at all.
5. Always and everywhere insight into income &expenses
It is wise to know how your company is doing at all times. Online bookkeeping gives you a good idea of this. Your income, expenses and profit are listed and you can see at a glance whether the payment behavior of customers is good. This allows you to intervene in time.
6. Always a balanced bookkeeping
The bookkeeping must be completely correct. With an online accounting program, everything is stored safely and neatly and everything can be found clearly. So you always have a balanced bookkeeping.
7. Do you work with an accountant? Then he/she also gets access
If you only want to do part of the bookkeeping yourself so that you can spend more time on your business, you can choose to hire an accountant for certain things. That costs less money, and the bookkeeper also gets access to the online accounting program.
After reading this article, do you also see the benefits of online accounting and would you like to get started? Then we recommend Myfinance, the accounting program for freelancers. At Myfinance you can book easily and securely online for a low and fixed amount. Moreover, Myfinance saves you a lot of time and aggravation. And if you can't figure it out yourself, you're not alone.
