As a sole proprietor, you sell your products at a local market or the yearly winter market. You know exactly how to record your income. But you’ve also had to pay for your market stall. In this article, we’ll take a closer look at how to record this expense. 🤓
Expense document 🧾
To record your expenses, you need a receipt or invoice. This must clearly state how much you paid for the market stall. If, as a business subject to VAT, you wish to reclaim the VAT charged, a receipt is not sufficient; you will need a formal invoice.
There are a number of official requirements a document must meet to be considered a formal invoice. Read all about it in this article.
Cost category 🗃️
It is quite possible that you won’t always find the exact cost category in Dexxter. This is because we’ve already set up a whole host of common categories, but we can’t avoid the fact that a few categories are missing.
Fortunately, you can easily create a cost category yourself. What you choose to call it doesn’t really matter. Call it, for example, market stall costs. What is important is that you choose the main category General expenses.
A market stall to sell your products is, of course, 100% a business expense!
Video 📺
View the explanation in a short video here:
