Hello,
I will soon be starting as a sole proprietor in my secondary occupation (purchase and sale of games and collectibles).
Before my start date, I had my own private collection that I want to sell professionally within my business from the start.
What I have read is that when you start up, you draw up an inventory and include this as your initial inventory.
However, the UNIZO start-up helpline told me that private goods cannot be ‘transferred’ to a sole proprietor because, legally, the private individual and the business are the same person, and that this would only be possible through a company.
I find that difficult to understand, as those goods will effectively serve as trading stock.
Concrete example:
If I purchase a game from a private person tomorrow after my start date, I am allowed to draw up a purchase document for it and it is a business expense.
But if I sell a game from my own collection when I start up, according to that reasoning, I would not be allowed to include it in my initial inventory. It then seems as if the entire sale price is profit, which is not economically correct.
My specific question:
How do I process this correctly in Dexxter?
Do I draw up an inventory on the start date and enter the total amount as the initial inventory?
Is an inventory list sufficient as supporting documentation?
Do I need to do anything extra in terms of administrative tasks?
I want to handle this correctly and in accordance with accounting principles.