From when is a cash book required?
I quote the following text from an article on the Dexxter website.
Don’t worry, are you an entrepreneur who only receives cash payments or makes cash purchases sporadically? Then you don’t need to start keeping a journal right away. However, if cash payments are a structural part of your business, then you are legally required to keep a cash book.
When does it become a structural part?
Thank you.
Dear SV,
I acknowledge your desire for clarity, but this is what the law requires of us: 'a structural part'. There is simply no limit or percentage for here.
So you will have to use your own judgement. What LD indicates above, for example, is a good approach.
Exceptional small cash payments can be considered negligible and do not need to be recorded in a cash book.
If you receive (small) cash payments very often, they become a structural part of your income. Of course, this is different for everyone. What is a marginal amount for one person is a structural part of another person's income. That is why it is so difficult to find a general rule of thumb here.
It all remains a bit vague, but you will have to trust your instincts here and if you are in doubt, it is better to err on the side of caution.
Regards,
Your Dexxter Expert
Thank you!
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.
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