When a business has employees, payroll should also be reflected in the bookkeeping of the business. This blog will help you with the proper bookkeeping entries! Three steps are involved: 1. Include journal entry for each payroll run2. Book paid net salaries to the balance sheet3. Book paid wage tax to the balance sheet The […]
The outbreak of Covid-19 has major consequences for the global economy. The Dutch Ministry of Finance has announced that measures will be introduced to limit its impact on the Dutch economy. In the following paragraphs we outline these measures and propose ways in which you can limit the negative financial effects for your organisation. New […]
Dutch VAT rate change As you may know, the low VAT rate changed per 1 January 2019 from 6% to 9%. In order to correctly book any 2019 sales / purchase invoices using this new rate, the new rate has to be added to Xero. Adding to Xero We kindly refer to the instruction video […]
Besides an ambitious business plan, much remains to be done to make startups financially and administratively investor-proof. In order to act according to your fundamentals, you cannot start off too soon. Being late for that itself also costs time, and you need that to work on matters such as your track record, which is equally essential. Hardly […]
Sharp and clever, quick to respond, and wise: The main focus of fast-growing and innovative start-ups is often strictly on their business model and technological developments. The Challenge However, from the sustainable and successful entrepreneurship point of view, having a robust financial and tax foundation is certainly a ‘must have’ too, but it is also […]