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Cash book digitally or manually

As an entrepreneur, if you must deal with cash income and expenditure, you must keep a cash book.

Keeping a cash book is required by law? If you do business with cash, you are legally obliged to keep a cash book. The legal obligation to keep accounts follows, inter alia, from the Civil Code (Book 3, Article 15i, paragraph 1) and is included in Art. 52 paragraphs 1 and 2 of the General Government Tax Act. This also includes keeping a cash book. Depending on the size of the cash flows in your company, it is advisable to update your cash book daily (or per week). In this way you prevent errors and things from being forgotten.

Manual or digital?

It is not regulated by law how you should keep your cash administration. This can be done manually and digitally. Make sure that your cash changes are covered by cash documents, such as receipts, bills, deposit receipts, cash-outs, etc. In addition, you must keep all calculations that you make, such as cash count lists, with your cash administration. Tip. Sort the documents of your cash transactions by date and give them a number. This way you can easily find every mutation in your cash book. Pay attention. You are required to copy thermal receipts. This is because these receipts decay after a while, making them illegible.

Check on what?

Please note that it must not be a negative cash balance in your cash book. Pay attention. If a negative cash balance is found, the Tax Authorities can reject your cash administration (as proof), which means that your income will be estimated. Cash Check! Updating your cash book also involves counting your cash. Your cash book balance must match the available cash. You must also ensure that your cash balance is not too high. Too high a cash balance is no longer common nowadays and will only cause difficult questions.