Freelancing means scheduling your own time, choosing assignments, and working whenever you want. But with that freedom comes a few extra responsibilities. One of them is keeping track of your administration. Don't panic—we’ll help you get started with a few practical tips.
Keep track of your invoices and receipts
It is important to know exactly what you need to save:
Invoices: You need these for your tax return so you know exactly what your turnover is.
Receipts and incurred costs: These can be deducted during your tax return, so don't throw them away.
Important: Even after you have filed your tax return, you must keep your administration records for 7 years.
Set money aside for taxes and insurance
In addition to invoices and receipts, it is smart to set money aside in advance. This way, you won't face any surprises when the Tax Authorities or insurance costs come calling.
Tip: Open a separate account for your business money so you can keep your private and professional finances strictly separated.
Handy (free) tools
Keeping track of everything manually can be a challenge. Fortunately, there are plenty of free tools that make your administration easier.
