Dear Sir/Madam, I am currently enabled as a personal coach and have the next question:
Is it a problem from an accounting point of view that I pay all my expenses from my current account and then transfer the expenses from my professional account to my current account at the end of the month?
My current subscriptions (fitness, boxing, mobile phone, etc.) are all linked to my (private) current account.
Kind regards,
Hey! This is not a problem at all, as I always do the same thing.
It is not required to have a business account as a sole proprietor. However, once you have been doing this for a while, you will notice that it is much easier to keep your private and business finances separate. You are less likely to make accounting errors and you have better control. I recommend that you gradually transfer those payments to your business account. It also looks more professional, and once you have control, the costs will be more easily accepted. You can then also recover the vAT from those invoices.
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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