General ledger

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A (simplified) General ledger is required (and sufficient) for (small) VZW.

Small VZW can run a simplified version of a General ledger.

Only the balans, and income and expense account reporting is necessary.

Detailed financial transactions need to be kept, in case of control by the authorities. Keep electronic bank account statements. Have no cash-transactions.

Strict (yearly) timing is needed. Otherwise financial (government) penalties can apply.

See Tax declaration.

Setup[edit]

  • Detailed, daily Income and expense register (by bank account, cash register, category) -> Formulier A (Internal and for control by authorities)
  • Overview of income and expenses -> Formulier B
  • Balance sheet (could be run at any time if bookkeeping is in sync) -> Formulier C

Transactions must reflect reality. Therefore it could be needed to book provisions (e.g. late invoices related to a large project, promised funding and grants, grants to be returned)

Jaarrekening[edit]

Yearly Financial timing
Activity Timing
Jaarrekening January
Patrimoniumtaks February
General Assembly January-April
Griffie February-May
Tax declaration May-July
Yearly budget September-October
Grant review November
Grant approved December

Content:

Format[edit]

You can create it with Excel (one sheet for each of the sections, in landscape)

  • Store it electronically.

You better also create a PDF document (non-repudiation). You will need it as attachment to the (electronic) tax declaration.

To be approved by the General assembly. Prepare and publish the document before the GA so the members can review it.

Print single-side; prepare 2 copies for the administration. A board member should write his full name and sign once on the first page. If you deposit the document personally, you immediately get a copy with a receipt confirmation stamp.

Tip: if you have changes to the statutes, then you can perform all administrative activities at the same time (efficient working...)

  • Small VZW need to upload the PDF copy to BIZTAX

See Procedures/Preparation of the Financial statements.

Data entry timing[edit]

De uiterste wettelijke datum van indiening is de laatste dag van de maand na die van de algemene vergadering, zonder méér dan zes maanden vanaf het afsluiten van het boekjaar te vallen.

Other components[edit]

External links[edit]

General ledger
Yearly balance sheet
VZW

See also[edit]