Hello,
I have just started a secondary occupation. I have received cash money, which I have entered via daily receipts.
Now my question is: how long can I keep this cash money at home, in other words, how much time do you have to deposit the money into your account? What happens in case of an audit?
I don't think it matters, as long as you keep track of what happens to it from your cash book.
What I did was a 'private transfer'... (read: you put it in your private purse), so;
1st line: DATE
At the end of the month, this balance will be 0 euro.You can also choose not to do this, in which case your closing balance (and opening balance for the next month) will state xxx.xx euros.
Then you are essentially your own bank.
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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