I have been a self-employed student for a few months now. I was told that you can pay yourself a wage. But how do you enter this in Dexxter?
I also incurred expenses for my profession, but they did not issue an invoice. How can you process an expense without an invoice?
You cannot pay yourself a salary as a sole trader. This is only possible in a company.
You always need proof to enter expenses. To be able to reclaim vAT, you need an invoice with your company number on it. You can also provide a receipt, but then it is entirely your expense. You cannot reclaim vAT with this. Without proof of purchase, you will not be able to enter this.I think that as long as you pay your taxes and social security contributions, your private and business accounts are mixed and you can simply deposit an amount if I understand correctly.
You can indeed transfer money from your business account to your private account and vice versa, but this is not a 'salary' payment as in a company. This is not an expense for your business, nor is it 'wages' as you would earn as an employee. In fact, in a sole proprietor, there is no difference between what belongs to you and what belongs to the business, and your profit as a sole proprietor is your wages.
I had the same question, so if I acknowledge it correctly, you don't have to enter your 'wages'? Is there no option in Dexxter for private withdrawals or something? I would still like to have it in my accounting summary. That's right, you should not enter your wages. Entering them as an expense would even be wrong.
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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