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Here's how to reduce your financial administration and get more insights!
An accounting system is essential. Simple. Not only because it is mandatory (see our blog post), but also to get the right insight into your company and to always have a clear view of your figures. A punctual processing of documents makes it possible to make timely adjustments where necessary.
Most administrations are set up on the basis of invoice administration (as opposed to cash administration). This means that a transaction is processed in the accounting books when you receive a purchase invoice or send a sales invoice. The payment is made later.
As an entrepreneur, it is of course important to follow up on these payments. A customer who does not pay, has a direct impact on your profitability. A supplier who is not paid, will wait a while with his future deliveries.
You can easily track unpaid invoices from your bookkeeping. At least if you send your invoices to the accountant immediately and if the accountant processes the invoice immediately in the accounts. As a hardworking entrepreneur, you want to be able to view accurate data about your company, don't you? That's right. That is why it is so important to send your purchase and sales invoices to your accountant as soon as possible. Don't wait until the end of the quarter.
With TOCO you can immediately upload and centralise your invoices upon receipt, pay and forward them to the accountant from one, user-friendly application! Completely digital. Forget piles of paper, or searching for your pdf's in your data cloud. Relax, it will take you almost no time and moreover, you can spread it over the entire quarter, and thus avoid those stressful peak moments.
As a modern entrepreneur, if you want to go completely digital, e-invoicing is definitely something for you! According to the Belgian Administrative Simplification Service (DAV in Dutch), the savings can amount to 3.24 euros per sales invoice and even 5.77 euros per purchase invoice. Receiving or forwarding your invoices as a digital invoice ensures that the information on the invoice is sent correctly and can be processed automatically. This way, you don't have to enter the payment data anymore and your bookkeeper can automatically read the invoice in his software package. E-invoicing is not really common in Belgium at the moment, but with TOCO we certainly want to support this initiative so that you as an entrepreneur can fully experience the benefits of it.
Save time to do business. Give your accountant time to advise you. A win-win for both parties! And that is what bookkeeping is all about in the end.
Curious about what TOCO means for you as an entrepreneur? Sign up for our webinar and discover all the benefits!