Category: E Commerce news

Filing Annual Accounts AS A Small Business

The following delivery methods apply to the small business class:

  • Online service for self-filing annual accounts : this method is suitable for private limited companies (and public limited companies) that want to file their final financial report themselves.
  • The SBR submission method : this allows you or the accountant to make financial reports and then send them to the Tax Authorities, Statistics Netherlands and various banks.

Is there a deadline for filing the annual accounts?

Hell yes. Although mutual deadlines for companies differ slightly, the Chamber of Commerce maintains the principle that you or your accountant must have filed annual accounts with the authority no later than eight days after adoption.

Keep in mind that the deadlines for adoption can also differ per legal entity. 

Submit to shareholders

Good to remember: the board of the organization in question has no later than five months after the end of the financial year to prepare annual accounts and to present them to their shareholders.

An exception to the rule is when a postponement has been requested prior to this deadline and the shareholders have agreed to this.

Did you simply submit the annual accounts to your shareholders within the usual period of five months? Then it is good to know that they in turn will have (no later than) two months to adopt the annual accounts. 

What does the date of adoption mean?

A deadline is also linked to the moment when annual accounts are adopted. This latest date is again related to the time when you can deposit the annual financial statement at the latest at the Chamber of Commerce

When the financial year coincides with the calendar year, the determination date is July 31. With a maximum delay, this will be January 31 of the following year.

Please note : if you forget to file the annual accounts on time or if your company goes bankrupt, the directors can be held personally liable for this. 

Research BEH

In addition, the Office of Economic Enforcement (BEH) of the Tax and Customs Administration can institute an investigation. This can result in a criminal conviction by the judge, with all possible financial consequences.

Failure to file the annual accounts in time can result in a fine of several thousand euros. An extra reason to keep a close eye on this deadline.

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How To Face The Coronavirus Crisis In Your Online Store

Thanks to technology, today, you can work anywhere with Internet access. This means that there are many things you can do to stay active and take advantage of confinement time. 

Also, depending on the type of products you sell in your dropshipping store —especially when they are innovative products to sell—, you may even be able to maintain the activity, doing all the management from your own home. 

Contact all your suppliers

To provide better customer service and not go wrong with any of them, you should inform yourself if your providers’ conditions have been offering until now have changed. 

Gather information about possible problems with stock and delays in shipments. But ask them for photographic evidence to confirm that they have stocks in their warehouses because some suppliers are not entirely honest for fear of losing orders. 

And if despite everything you still do not trust, the best thing is that a friend or a relative make a trial order. This way, you will leave doubts. 

Develops a contingency plan to deal with delivery delays

Do not hesitate to inform your customers that the current situation may cause delays in shipments

The best way to do this is by adding a prominent message on the cover of your website, in all categories, in each product file, and on the sub-pages before order confirmation.

Take care of your physical and mental health.

This period of confinement can end up being dangerous to health. 

Not only because physical exercise is difficult at home, but also because the tensions of not being able to go out at all, or seeing that the business is completely stopped, can undermine anyone’s mental stability. 

However, do not despair because it is still possible to earn money from home if you follow these recommendations: 

  • Concentrate on the positive things of the day to day: if necessary, turn off the television and forget about the catastrophic news for a while. 
  • Try to socialize; even if it is virtually: through video calls and messaging applications, you can continue to keep in touch with your friends and loved ones.
  • Disconnect from problems: it does not hurt that you look for hobbies such as reading, crafts, watching series and movies, DIY, painting pictures, making cupcakes, or writing a novel. In this way, you will be able to disconnect from current problems and occupy your mind with other, more pleasant entertainment. 
  • Try to continue with the routines: do not get up too late, do some physical exercise (taking into account the limitations of your place of isolation), take care of your diet, and try to separate the hours of teleworking from those of leisure and family.
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