Background

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Along with the balance sheet, the results report is one of the most important reports in your business. Whereas the balance report gives an overview of your entire company and all the years, the results report gives an overview of one fiscal year. At the end of the fiscal year, …

What is the balance sheet? The balance sheet is the heart of any accountancy, along with the results. But the balance sheet is secretly even more important than the results. This is because you start your balance sheet on the day you start your business and take it with you up u…

Credit en debit? These terms are very old, yet they are still relevant. Numbers on the credit or debit side make the difference between whether they should be added or subtracted from something. Plus and minus, in other words. When double-entry accounting was invented 500 years …

Although the results and balance sheet are the most important reports with figures, the memorandum is the most powerful tool in any accounting system. An indispensable Swiss army knife. The memorandum is a list of entries that, if you use it correctly, cannot be processed in any…

What is a year-end closing? A year-end closing is partly an audit and partly some finalizing tasks. When do you do the year-end closing? Year-end closing is the moment when you decide to close a fiscal year for good. This moment must therefore be after the fiscal year you want t…

This is a background article. It explains a concept mostly, and not per se how to use Daxto specifically. What is accounting? You would almost forget. Usually we dive deep into the details straight away. There are plenty of those, right? But let's take a moment to start at the …

You pay taxes on the profits your business generates. How it is regulated for your business depends in part on the legal form of your business. Value-added tax (VAT) The best-known tax, of course, is VAT. Another name for VAT is sales tax. As an individual/consumer, you face VA…

Booking is a word you hear and encounter a lot when it comes to accounting. It means: making something happen in your accountings at a specific time. Why is it called booking? Because it's a very old term; back in the day, every administration consisted of a thick stack of book…

This term is still widely used. Yet it is quite old. Every time you read it, you can imaginatively read it as 'checking account'. What is a current account? A current account is a checking account in a company that can be used by the director and/or partners (shareholders). Eac…