Yuki's usual recording procedure is to record the costs and VAT on the basis of the purchase invoice or the scanned receipt. The payment is recorded separately, indicating that the invoice has been paid. This way of working is preferred because it allows us to record the source document for each business transaction. As evidence to the Tax authorities, this is better. It also makes it easier to check the administration.
It is not always necessary to submit receipts or invoices to Yuki for regularly recurring expenses and minor expenses. Under certain conditions, Yuki can also record those costs directly on the basis of the debit on the bank statement. The VAT can also be deducted if certain conditions are met.
What types of expenses can be recorded directly from bank statements?
In general, the expense should meet the following criteria:
- The expense was paid with a debit or credit card or was automatically debited from your account
- It should be clear from the bank transaction what type of expense is involved
- There must be sufficient certainty about the VAT included in the expense.
- The amounts involved are relatively small (maximum 100 euros).
The expense must have been paid with a business debit or credit card or automatically debited from your account. As a result, we know for sure that the amount of the debit corresponds to the amount of the invoice or receipt. It also determines on which day the expense took place.
Items that have been paid in cash, paid with a private card or credit card or that have been bought on credit must therefore still be submitted to Yuki.
Clarity on type of expense
In order to be able to determine to which general ledger account the expense should be posted, the information on the statement must allow the type of expense to be identified. The best indication for this is the name of the supplier. For well-known Dutch suppliers, Yuki can determine that for itself. For example, think of:
- Rural petrol stations (Esso, Shell, Texaco etc)
- Rural car parks (like Q-park) or intermediaries for parking meters (like Parkline)
- Energy suppliers (Nuon, Essent, etc)
- Phone companies (KPN, Vodafone, T-Mobile etc.)
- Road tax (Tax authorities)
Many companies provide products that need to be recorded differently. For example, consider Staples Office Center, where you can buy office supplies, canteen goods or computers. Unfortunately, it is not possible for these types of companies to book directly through the bank. The exception to this is if we can assume that you only ever make a single and always the same kind of expenditure there.
VAT must be clearly identifiable
The Tax authorities only allows you to reclaim VAT if it is clear what type of expense it concerns and it is clearly identifiable how much VAT was included in the transaction. This is therefore always stated on an invoice or receipt. Deduction of VAT is therefore only allowed on the basis of these supporting documents (invoices and receipts). In practice, this rule is sometimes deviated from to make accounting easier. If it can be clearly determined how much VAT was in an expense, the VAT deduction can be recorded directly on the basis of the bank transaction. This must meet the following conditions:
- The VAT amount is shown in the statement (often for fixed monthly payments to energy suppliers)
- The supplier always supplies goods or services without VAT
- The supplier always supplies goods or services at a fixed VAT rate
- All goods you bought are 100% deductible (so, for example, no cigarettes and fuel on one receipt).
In order to prove that your VAT deduction was correct in the event of a VAT audit by the Tax authorities, it is compulsory to keep receipts and invoices.
Expenses of relatively limited size
We recommend recording some expenses of limited size in this way. However, if the VAT deduction is substantial, recording the supporting document (proof) is recommended. An exception can be made, for example, for monthly payments that are the same every month (same amount and same VAT amount). For example, rent payments or advance invoices from leasing companies or energy suppliers..
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