Dear auto-entrepreneurs, yes, you too have accounting obligations (albeit lighter ones!).
If you've just set up your own micro-enterprise, you're probably wondering what your auto-entrepreneur accounting obligations are.
Micro-entrepreneurs benefit from a special tax regime, Micro-BIC or Micro-BNC, with simplified accounting. You no longer have to produce a balance sheet and other requirements that often call for the services of a chartered accountant.
But despite the simplified procedures, you still need to be extremely rigorous. Find out more about your accounting obligations now!
Keeping a receipts book
Keeping an up-to-date receipts book is the first accounting requirement for self-employed entrepreneurs.
The receipts book is a document in which you keep a chronological record of all receipts. It is essential that you keep it up to date in the event of an audit by the tax authorities.
Example of a revenue book:
Keeping a purchase register
In certain cases, you must also keep a register of purchases:
- if you sell goods, supplies or food for consumption on the premises or to take away,
- if you offer accommodation services.
💡 Note that here too, you have the choice of paper or digital format.
Drawing up invoices
When is the auto-entrepreneur invoice compulsory?
When you are a micro-entrepreneur, you are obliged to invoice in certain specific cases:
- when you sell services or goods to professionals,
- when requested by the customer,
- as part of distance selling,
- when delivering certain goods at public auction (second-hand goods, works of art, collectors' items or antiques).
☝️ Beware of oversights! If you fail to do so, you could still be fined up to €75,000 for an individual and €375,000 for a legal entity.
Finally, a properly produced auto-entrepreneur invoice must comply with precise numbering criteria and contain a number of compulsory items of information.
To find out what they are, read our file on auto-entrepreneur invoices and download a free template.
Opening a dedicated bank account
As a self-employed entrepreneur, you are required by law to open a bank account dedicated to your business, in order to separate your business transactions (collections, payments, personal remuneration, obtaining credit, etc.) from your personal transactions.
However, since the PACTE Act of May 2019, a dedicated bank account is no longer compulsory for auto-entrepreneurs whose turnover does not exceed €10,000 for two consecutive years.
This is a major change for many auto-entrepreneurs. Until now, the 2015 Social Security Financing Act required all auto-entrepreneurs to maintain a bank account dedicated to their business activity, clearly separate from their personal current account. This measure has therefore been relaxed with the PACTE law.
💡 Is it compulsory to open a pro account as an auto-entrepreneur?
The good news is that a simple current account is all you need, and that's all to the good, because business bank accounts incur more expensive charges.
Declaring your turnover
And above all, don't forget to declare your turnover!
Depending on whether or not you have opted for payment in full discharge of income tax, you must declare it every month or quarter on the Urssaf website.
👆 Please note: if you forget to do this, you will be subject to a penalty of €50 for each missing declaration.
And to find out how to keep your auto-entrepreneur accounts on a day-to-day basis, see our article on the subject.