![]() Large commodities trading companies often have stock management systems which maintain an overview of stocks at all times, and carry out stocktaking once a year as a means of checking and adjusting the stock system. It is therefore important to have an overview of your stock at the end of a period if you have goods of any significance in stock. They have not yet been sold or generated income for the business. For example, if you have a lot of goods in stock, it would be wrong to make deductions for these. If you trade commodities, you must deduct expenses which you have incurred for the goods you have sold. You must also ensure that you deduct expenses that you actually incurred during the period in order to generate the income. You must then accrue the income out of the income statement. The opposite applies if you have sent and posted an invoice in advance. The term incurred refers to when a company is obligated to pay for an expense, regardless of whether the payment has been made. If you have carried out an assignment or sold a product but do not send an invoice for the sale until after the end of the month, you must accrue this in your accounts. Income must be recognised in the accounts during the period in which it is earned. Other typical accrual items are income, depreciation, stock changes, electricity, insurance and interest. Rent and insurance premium expenses are therefore allocated in the accounts every month. Eksempelbedriften AS reports internal monthly accounts and wants them to be as accurate as possible. Without accrual, the expenses in January and July would have been disproportionately high. ExampleĮksempelbedriften AS pays both rent and insurance premiums in advance on 1 January and 1 July. If you run a small business, it will generally be sufficient to do this at the end of the year. The activity holder and budget holder of the department for which you work must approve your claim.Large companies often carry out such an assessment every month when the accounts are closed at the month-end. Remember to scan your receipts beforehand. Attach proof of purchase for everything that you wish to have reimbursed. Do this by filling in an electronic claim form. If you work for the University but are not an employee, you can still submit a claim for certain expenses. Emergency response team (BHV) allowance.If you travel in the Netherlands or abroad on University business, you are entitled to a travel and subsistence allowance. This kilometre allowance will also be based on the travel days you enter in the timetable in the Service Portal.ĭo you cycle to work or to and from a bus or train station or carpool location? Then you can offset the costs of purchasing a bicycle, insurance and maintenance against your gross salary, end-of-year bonus or holiday allowance. In addition, as of 1 February 2022, everyone may again apply for a (supplementary) kilometre allowance via the Terms of Employment Individual Choices Model. ![]()
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