How to keep business records, a checklist
- info500146
- Jan 25
- 1 min read
Updated: Mar 24
How to Keep Business Records in the Netherlands
Keeping your business records organised is essential for managing finances and staying compliant with Dutch tax laws. Here are the key things to keep in mind:
1. Keep the Required Records
Ensure that all company details, both paper and digital, are systematically documented. This includes:
Cash administration (including draft notes) and receipts
Financial notes, such as the purchase and sales ledger
Interim check calculations
Received invoices and copies of sent invoices
Bank statements
Contracts, agreements, and other deals
Agendas and appointment books
Correspondence
Software and data files
While it's not mandatory to open a business bank account, it's advisable to keep your private and business administrations separate.
2. Store Records for at Least Seven Years
Most business records need to be kept for seven years, while real estate and some EU-related transactions require a ten-year retention period.
3. Choose a Record-Keeping System That Works for You
Whether you prefer digital bookkeeping software or a more traditional approach, having a system in place will make tax time much easier.
4. Logging Work Hours Can Help with Tax Benefits
If you're eligible for self-employment tax deductions, tracking your working hours can be useful to meet the necessary requirements.
5. Decide Whether to Handle Bookkeeping Yourself or Get Help
Some entrepreneurs manage their own records, while others prefer working with an accountant to ensure everything is accurate and stress-free.
An organised bookkeeping system can save time and prevent headaches later on. If you ever need guidance, professional support is always an option!