Mandatory records of the sole trader

Verified 02 October 2023 - Legal and Administrative Information Directorate (Prime Minister)

Individual business You create a You must purchase multiple mandatory records concerning your accounting, your employees or personal data.

As an individual entrepreneur, you need to put in place certain books or records. These mandatory records differ depending on your business.

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Commercial, craft and agricultural activity

Journal Book

You must obligatory keep a journal book in which you must record all transactions chronologically (sales, purchases, charges,...) which affect the company's assets, day by day.

Each record shall specify origin of operations and the references of the relevant supporting document.

FYI  

you can keep this book electronically if it is identified, numbered and dated at the time of its establishment by means of guarantees identical to the paper register.

The information must be retained 10 years from the end of the accounting year to which they relate.

Accounting evidence must be kept 10 years from their establishment.

No specific sanctions shall not be provided for in the event of non-maintenance of the journal.

However, in the case of forgery or use of forgery, you are subject to a criminal penalty of up to 3 years imprisonment and €45,000 of fine.

Ledger

You must obligatory maintain a ledger that contains the chart of accounts for the journal.

The information must be classified by nature of account and seized in chronological order from the journal.

The information must be retained 10 years from the end of the accounting year to which they relate.

Accounting evidence must be kept 10 years from their establishment.

No specific sanctions is not provided for in the event of non-maintenance of the general ledger.

However, in the case of forgery or use of forgery, you are subject to a criminal penalty of up to 3 years imprisonment and €45,000 of fine.

Inventory Ledger

You must obligatory to keep an inventory of all assets (machinery, treasury, stocks...) and liabilities (share capital, debt...) on your company.

You have to specify some the quantity and the value of each item at the inventory date.

These data must be kept without blanks, lacunae or irregularities.

FYI  

you can keep this book electronically if it is identified, numbered and dated at the time of its establishment by means of guarantees identical to the paper register.

The information must be retained 10 years from the end of the accounting year to which they relate.

Accounting evidence must be kept 10 years from their establishment.

No specific sanctions is not provided for in the event of non-maintenance of the inventory book.

However, in the case of forgery or use of forgery, you are subject to a criminal penalty of up to 3 years imprisonment and €45,000 of fine.

Liberal activity

Journal Book

You must obligatory keep a journal book in which you keep a chronological record of your income and business expenses. This information must be provided on a day-to-day basis.

When you do not join a approved management association, you must also specify the identity of the customer, the amount, the date and the method of payment of the fees.

You must keep the supporting documents for the receipts and expenses indicated in the journal.

This book can be quoted and initialed by the registrar of the commercial court on which the company depends.

FYI  

You can keep this book electronically if it is identified, numbered and dated at the time of its establishment by means of ensuring its authenticity.

The information entered in the register must be kept 6 years from the end of the accounting year to which they relate.

Accounting evidence must be kept 6 years from their establishment. This period may be extended to 10 years if the tax administration suspects covert activity (for example, the absence of certain company declarations).

Failure to keep the purchase register shall not be penalized.

However, in the case of forgery or use of forgery, you are subject to a criminal penalty of up to 3 years imprisonment and €45,000 of fine.

Fixed assets and depreciation book

You must specify the next items :

  • Date of acquisition or creation of the itemsactive (equipment, goodwill, stocks, etc.) used for the exercise of the profession (fixed assets). It needs to be specified cost price of those assets.
  • Amount of depreciation on assets
  • Price and date of disposal of assets

The fixed assets and depreciation book must be kept 6 years from the last operation. This period may be extended to 10 years if the tax administration suspects covert activity (for example, the absence of certain company declarations).

You can keep this book electronically if it is identified, numbered and dated at the time of its establishment by means of ensuring its authenticity.

Not keeping the recipe book shall not be penalized.

However, in the case of forgery or use of forgery you are subject to a criminal penalty of up to 3 years imprisonment and €45,000 of fine.

If you have employees, you need to set up some mandatory registers from the first hiring.

Single register of staff

If you employ employees, you have the obligation to keep a single register of staff. Each employee must be registered at the time of hiring in indelible ink.

You must enter the following additional information for each employee :

  • Name
  • First Names
  • Nationality
  • Date of birth
  • Sex
  • Employment
  • Qualification
  • Dates of entry and exit
  • Contract Type
  • If a hiring or firing authorization is required, the date of such authorization or the date of application for authorization
  • For foreigner employees, the type and serial number of the work permit title. Attached is a copy of the documents authorizing foreigner workers to take up paid employment
  • For workers made available by a grouping of employers, the words " made available by a grouping of employers with the name and address of the latter
  • For temporary employees, the words " temporary employee’ with the name and address of the temporary company of work
  • For young workers with an apprenticeship or professionalization contract, ‘apprentice’ or ‘professionalization contract’

For each trainee you must provide the following information

  • Surname and forenames
  • Start and end date of the training or traineeship period
  • Surname and forenames of the tutor and place where the trainee is present

Names and surnames of volunteers in civic service must also be provided.

The information on an employee contained in the single staff register must be kept for a period of 5 years from the employee's departure.

In case of poor performance of the single staff document, you are liable to a fine of €750 per employee.

Single Occupational Risk Assessment Document (DUERP)

If you employ employees, you must keep this register, y identify and analyze all hazards to the safety and health of employees. It lists all occupational risks (e.g. fall, infection, injury...) to which employees are exposed.

He must be updated at the following times:

  • For companies with at least 11 employees, at least every year
  • In the case of major alterations which lead to a change in working conditions or health and safety
  • The occurrence of additional information concerning the assessment of a risk (e.g. the occurrence of a risk due to new scientific or technical knowledge)

DUERP should be retained 40 years from its elaboration.

If you do not transcribe or update risk assessment, you are subject to a fine of up to €1,500. This fine may be increased to €3,000 in the event of a repeat offense within one year.

Special weekly rest record

When you employ employees who are subject to special rest arrangement, you must specify their name and the type of regime in this register. For each employee, the day and fractions of the day chosen for rest must be specified. We talk about special rest arrangements when, for example, an employee does not have the same day of rest as everyone else.

The employees concerned must be entered in the register within 6 days who follow their hiring.

In the event of a change in an employee's days of rest, the change must take place on the register before the new period of rest is introduced.

Failure to keep this register may result in a fine of €1,500 per employee concerned.

Security Controls Register

This record must show that the security checks have been carried out in the company. It shall contain all the documents relating to health and safety checks and inspections.

Information must be retained for 5 years.

In case of poor performance from the security screening registry, you are subject to a fine of €750 per employee concerned.

Register of Electrical Facility Verifications

When you have workers in your facility, you have to do electrical audits. You must ensure that they are maintained in compliance with the applicable health and safety rules.

The results of the verifications, the justifications for the work carried out and the modifications made must be recorded in a register.

The register may be kept in paper or electronic form as soon as it is identified, numbered and dated at the time of its creation by means offering any guarantee of proof. It may be incorporated into the safety register or kept separately.

When you are in possession of personal data and that you collect regularly, you must keep a record of processing activities.

It makes it possible to identify all the processing of personal data: payroll management, human resources management, commercial prospecting, publication of a photo of a person on a website, etc.

Processing of personal data is not necessarily computerized: paper files are also concerned and must also be protected.

The register of processing activities must be updated regularly in consultation with all persons in your company who may process personal data. It shall contain the following information:

  • Name and contact details of the data controller
  • If the company has a Data Protection Officer: Name and contact details
  • If the company has a joint controller: Name and contact details
  • If the company has a representative of the controller: Name and contact details
  • Purposes of processing
  • Description of categories of data subjects and categories of personal data
  • Categories of recipients to whom personal data have been or will be disclosed (including recipients outside the European Union and international organizations)
  • In the case of data transfer to a third country or international organization: the transfer, identification of the third country or international organization, document attesting to the existence of appropriate safeguards
  • General description of technical and organizational measures (where possible)

In the case of outsourcing, the processor or his representative must also keep a register of all categories of processing activities carried out on behalf of the controller.

FYI  

The Council makes available templates for registers on its topic page.

You must purchase mandatory records which are necessary for you. You can find these records either in specialized stores or on the internet in digital format.