A business purchase was for private use, now what?

When you purchase products for subsequent sale, you may find that your purchases include products for private use. For example, you are enabled in the beauty sector and you regularly buy various creams & oils. Now you have one purchase invoice that states products for customers, but also products that are (in retrospect) for private […]

Depreciation in a sole proprietor: everything you need to know

In this article, we cover everything you need to know about depreciation in a sole proprietor in Belgium. Which purchases are investments? 🔎 Say you buy a laptop for €1500 and you think you will use it for 3 years. You will have to pay for the laptop immediately. Your expenses will then be €1500. […]

How to calculate the depreciation of an investment: a numerical example

A depreciation? Sounds like a complicated financial concept that gives you a headache? No worries! In this article, we’re going to talk about depreciation using a simple numerical example to get you started. What is depreciation? 🔎 Let’s start at the beginning. Depreciation is actually a way of reducing the value of a purchase as […]

Sponsorship & donations in a sole proprietor?

Sponsorship or donations seem close, but accounting-wise there is a big difference. What is the difference? A donation is the giving of money (among other things) where specifically no quid pro quo is required from the person receiving the money, as is often the case with charitable organisations. A sponsorship, on the other hand, does […]

A salary from your sole proprietors, how does that work in accounting?

Perhaps you have heard other self-employed people tell you that they have updated their wages? If so, chances are they have a partnership. This company then pays a salary to the private person, with an accompanying payslip. For sole proprietors, this works differently: after all, you cannot pay yourself a salary! With sole proprietors, your […]

Professional fees for your sole proprietors: 4 rules

You’ve been self-employed for several months now and suddenly realise that you haven’t stopped your telecom subscription in your accounts all this time . No problem, you log in to your telecom provider’s digital platform and neatly download the invoices from all the months in which you were already self-employed but haven’t yet entered the […]

Self-employed student: accounting, what does it look like?

Keeping accounts as a self-employed student is really easy, let’s get right to the point! Especially if you are a student-entrepreneur relying on Dexxter, the digital accounting application to take control of your bookkeeping yourself! With Dexxter, we created a simple accounting application specifically targeting the niche student-entrepreneur with sole proprietors! But enough about Dexxter, […]

Glasses as a professional expense for your sole proprietors?

Bringing in glasses (or lenses) as a professional expense for your sole proprietors will often meet resistance in tax audits. You sometimes read online that they do have a place in the accounts, but in practice this remains a difficult matter in the event of a tax inspection. Although it obviously also depends from which […]

How can I bring in costs paid from my private account: internet, water, electricity …

You’ve just started your own company, and you’ve discovered that you can deduct business expenses to reduce your taxable income. A smart move, because who wants to pay more taxes than necessary? So you would also like to bring in your egw and internet expenses. But there is one problem: you have paid many of […]

A guarantee cost or revenue

Did you have to pay a deposit when entering into an agreement? An amount that you pay (or receive, depending on the situation, of course) and that – if all goes well – you also get fully refunded afterwards. How should you stop paying or receiving on such a deposit in your accounts? No impact […]