Keeping accurate financial records is essential for any business in Belgium, especially if you handle cash payments or don’t issue invoices for every transaction. Two important tools for this are the cash book and the receipt book. Let’s explain what they are, why you need them, and how to use them correctly.
The primary distinction between a cash book and a receipt book lies in the types of transactions they record:
Receipt Book: Captures all daily transactions that do not have an associated invoice, regardless of the payment method. This is particularly relevant for businesses like hairdressers, beauticians, or retailers who engage in numerous direct customer transactions. The receipt book provides a comprehensive overview of such sales and facilitates their integration into the accounting system.
Cash Book: Records all cash transactions, both incoming and outgoing. This includes cash payments from customers, cash payments to suppliers, personal withdrawals from the cash register, and cash deposits into bank accounts. The cash book ensures precise tracking of cash flows, offering clarity on the business's total income and expenses.
In Belgium, maintaining a receipt book is mandatory for businesses where issuing an invoice for every sale or service is uncommon. However, exceptions exist:
🧾 You always issue an invoice for every transaction.
🧑🍳 You use a certified cash register system (SCE or "white cash register").
🧮 You work under the flat-rate VAT system (note: this system will be phased out by 2028).
💡 It's important to note that even businesses benefiting from the VAT exemption scheme for small enterprises are required to maintain a receipt book.
❗B2B transactions always require an invoice. Receipt books are only meant for B2C transactions.
To ensure compliance, adhere to the following guidelines when maintaining a receipt book:
Update daily: Record your transactions every day, even if there are no earnings.
Daily totals: Add up your daily income. For amounts over €250, use separate lines.
Include VAT details: Indicate which VAT rate applies to your sales.
Use permanent ink: Don’t use a pencil.
Correct mistakes properly: Make a new entry for corrections; don’t erase or cross out old entries.
Number entries: All pages and entries should be sequentially numbered.
Monthly totals: Close each month with a summary total.
Include VAT number: Write your VAT number on every page.
Additional best practices include:
Keep evidence of all income, such as receipts or appointment books.
Use separate receipt books for each location or branch of your business.
Maintain a main receipt book at your primary business address.
💡 While traditional paper receipt books are available at most stationery stores, digital solutions compliant with legal standards, offer efficient alternatives for recording your data.
If your business handles cash transactions, a cash book is a crucial tool. A cash book is used to record all cash transactions in your business. Every time money goes in or out of the cash register, you need to note it down. For example:
When customers pay you in cash.
When you pay a supplier in cash.
When you take money out of the cash register for personal use.
When you add your own money to the cash register.
When you deposit cash from the register into your bank account.
When you withdraw money from the bank to put in the cash register.
By recording these transactions, your cash book keeps an accurate track of your cash flow. This is not only helpful for your own financial overview but also important for understanding your total income and expenses.
Keeping a cash book is mandatory for entrepreneurs who regularly handle cash payments. However, if you only deal with cash occasionally, you’re not required to maintain one.
Each transaction is recorded on a separate line in your cash book. If you have several small payments, you can group them and record them as a daily total.
For each entry, include the following details:
Date: When the transaction happened.
Description: What the transaction was for (e.g., "supplier payment" or "customer purchase").
Amount: The value of the income or expense.
Current Balance: The remaining cash in the register after the transaction.
💡 Just like a receipt book, your cash book should be neat and without changes to any of the entries. If a mistake happens, you should correct it by adding a new line instead of crossing out or erasing anything.
You can buy a pre-printed cash book at most stationery shops or use digital tools for easier management.
Simplified accounts:
If you are self-employed and use simplified accounting (single-entry), you don’t need to link your cash book to an accounting program. It’s enough to keep your cash book properly maintained and ready for review if needed.
Double-entry accounts:
If you use double-entry accounting, you’ll need to connect your cash book with other parts of your bookkeeping, like purchases, inventory and sales records. This ensures your financial data is properly linked in your accounting software.
Properly setting up and processing a daily receipts book in Accountable is essential to comply with Belgian accounting and tax obligations. Below is a step-by-step guide on how to accurately maintain and record a daily receipts book:
When preparing a daily receipts book, you must record all income for which no invoice has been issued on a daily basis. This must be done according to the following guidelines:
Date: Each day must be recorded separately.
Daily Revenue: Register all cash and electronic payments that do not have an associated invoice.
Transaction Amount: Note the total revenue per day. If an individual sale exceeds €250, an invoice must be issued, or it must be separately recorded on a distinct line.
VAT Specification: Indicate the applicable VAT rates (0%, 6%, 12%, or 21%) for each revenue category.
Numbering: All entries must be sequentially numbered and closed with a monthly summary total.
You must record at least one entry in your daily receipts book every day. Even during holidays, illness, or closure, you must enter a zero receipt.
❗ In case of an audit, you must be able to provide supporting documents such as cash receipts, sales slips, or an agenda. Each sale or service provided must be recorded separately during an audit; simply noting the daily totals is not sufficient. Therefore, make sure to keep everything properly documented!
A daily receipts book must be an official, physical or digital book with consecutively numbered and bound pages, where loose sheets are not allowed. Digital versions cannot be Excel files but must comply with specific security standards.
You may not delete or obscure any data, but strikethroughs are allowed as long as the original text remains visible. If you make a mistake, you must correct it with a separate entry at the moment you notice the error.
You must record your receipts in indelible ink, so using a pencil is not allowed.
To correctly register the daily receipts book in Accountable, follow these steps:
Go to the ‘Revenues’ section in the Accountable app.
Select ‘Add another revenue’ to create a new entry.
Enter the date on which the sales were recorded.
Input the total daily revenue, ensuring that only transactions under €250 without an invoice are included in the receipts book.
Select the applicable VAT rate for the revenue. Create a separate item in Accountable for each VAT rate.
Upload a scan of the page, such as a copy of the physical receipts book or a digital summary.
Confirm the entry and ensure it is correctly recorded in your bookkeeping.
💡 Important Considerations:
For transactions over €250, you must issue a separate invoice and not include them in the daily receipts book.
International sales always require an invoice and cannot be recorded in the daily receipts book, regardless of whether the customer is an individual or a business.
By following these steps, you ensure that your daily receipts book is correctly processed in Accountable.
Author - Valesca Wilms
As content marketing lead at Accountable Belgium, Valesca writes about freelancing, self-employment, and taxes based on her own experience as a freelancer.
Who is Valesca ?Thank you for your feedback!
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