Accounting obligations of the micro-entrepreneur

Verified 01 January 2024 - Directorate for Legal and Administrative Information (Prime Minister)

As a micro-entrepreneur, you benefit from the micro-social scheme. This gives you the opportunity to hold a lean accounting.

You must declare your turnover every month or every 3 months, depending on what you chose at the time you started your business.

If you forget to declare your sales or revenue before the due date, a penalty of €58 shall apply to each missing declaration.

You have the opportunity to regularize your situation at the end of the year. If you do not do so, you can be taxed automatically on an increased basis. Such taxation may result in loss of micro-company speed.

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Merchant, accommodation provider

You must maintain a revenue book. You must save chronologically the revenue and the following information:

  • Amount and source of revenue (identity of client or agent business)
  • Payment method (check, cash or other)
  • References of supporting documents (numbering of invoices, notes)

You have to do the total of your recipes every 3 months.

For retail sales and services to individuals, you can enter the corresponding information in your recipe book globally at the end of the day when their unit amount is less than €76.

You must also to hold a purchasing register. It should contain a chronological summary by year of the details of the purchases you have made in the course of your activity. You must provide the following information:

  • Payment method (check, cash...)
  • References of supporting documents (invoices, notes, etc.)

Warning  

once saved, your entries cannot be changed.

You can keep your records in one of the following ways:

  • Purchase paper books in the store and fill them out
  • Upload official templates and fill them out
  • Use specific accounting software

FYI  

the purchase register and the revenue book may be kept in electronic format.

You must keep the recipe book and purchase book information for 10 years from the end of the accounting year concerned. The same time limit shall apply to supporting documents.

There is no penalty in the event of failure to keep the register of purchases or the revenue book.

However, in the case of false (e.g. registration of false information in a register) or of use of forgery (e.g. using forged records to obtain a loan from a bank), you could face criminal penalties of up to 3 years imprisonment and €45,000 of fine.

Liberal

You must maintain a revenue book. You must save chronologically the revenue and the following information:

  • Amount and source of revenue (identity of client or agent business)
  • Payment method (check, cash or other)

You have to do the total of your recipes every 3 months.

For retail sales and services to individuals, you can enter the corresponding information in your recipe book globally at the end of the day when their unit amount is less than €76.

FYI  

If you are under the exemption from VAT, you must keep a record of your purchases of goods and services by year, and a journal (day-by-day) with details of your business receipts. You must also keep the invoices and any other related supporting documents.

You have the option to keep your record in one of the following ways:

  • Purchase paper books in the store and fill them out
  • Upload official templates and fill them out
  • Use specific accounting software

FYI  

the recipe book may be kept in electronic format.

You must keep the recipe book information for 10 years from the end of the accounting year to which the information belongs.

There is no penalty in the event of failure to keep the revenue book.

However, in the case of false (e.g. registration of false information in a register) or of use of forgery (Example: Using forged records to get a loan from a bank), you could face criminal penalties of up to 3 years imprisonment and €45,000 of fine.

As a professional, you are subject to the obligation to to submit an invoice to your business customers for sales and service delivery. In some cases, you may also need to to issue a note to your individual customers.

There are many rules on invoicing, including mandatory particulars to appear on a note or invoice.

You must keep your invoices and notes for 10 years after year-end during which they were issued.

FYI  

invoices issued to the public sector must be made in electronic format.

If you do not comply with the billing rules, you may be ordered to pay an administrative fine equal to one of the following amounts:

  • €75,000 for a natural person
  • €150,000 if repeated within 2 years after 1er failure to comply

You don't have to open a business bank account.

However, it is must have a bank account. Your personal account is enough.

If, during your activity, your annual turnover exceeds €10,000 lasting 2 consecutive years, you will be required to create a dedicated account to your professional activity.

FYI  

it is recommended to open a bank account dedicated to your activity even if you do not exceed the €10,000.

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The public service accompanying companies

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