General ledger

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

A small VZW can run a simplified version of the general ledger, "Genormaliseerd model van dagboek".^[1]

Detailed financial transactions need to be registered, in case of control by the authorities. Keep electronic bank account statements. Wikimedia Belgium has no cash-transactions.

The yearly financial statements need to list the balance, and income and expense account reporting.

Wikimedia Belgium uses extensions that allows cost based reporting.

Setup

Detailed, daily Income and expense register (transactions, by bank account, cash register, by category) -> Formulier A (Internal, and for control by authorities)
Overview of income and expenses -> Formulier B = Genormaliseerd minimaal schema van de staat van ontvangsten en uitgaven
- Outgoing invoices, accounts receivable
- Ongoing projects
Balance sheet (could technically be run at any time, provided that the bookkeeping is in sync) -> Formulier C = Genormaliseerd mimimaal schema van de staat van het vermogen, Inventaris van Activa, Rechten, Schulden en Verbintenissen (en Schema van toelichting)
- Grants
- Ongoing projects
- Provisions

Transactions must reflect reality. Therefore it could be needed to book provisions (e.g. accounts receivable, bad payers, late projects, late invoices related to a large project, delayed projects, promised funding and grants, grants to be returned, early grant payments).

Categorieën van uitgaven
Uitgaven	Beschrijving	WMF Programs
Goederen en diensten	Realisatie van het maatschappelijk doel (activiteiten), verkoop en dienstverlening aan derden, betaalde lidgelden en bijdragen aan andere verenigingen, freelancers	Programmatic expenses
Bezoldigingen	Netto loon van werknemers (geen freelancers)	Staff expenses
Diensten en diverse goederen	Niet-activiteit gebonden vaste kosten, sociaal secretariaat, RSZ, bedrijfsvoorheffing	Operating expenses
Andere uitgaven	Vereffende provisies (b.v. terugbetaalde ongebruikte subsidies), onkostenvergoedingen, forfaitaire kostenvergoeding, vrijwilligersvergoeding, bankkosten	Learning or training expenses Travel and participation expenses

Jaarrekening

Content:

Header: identification of the organisation as per the statutes, the book year, book year end-date, reference to General Assembly (date)
Income and expense overview and ventilation (by subcategory)
Balance sheet, including provisions
General ledger principles (schema van toelichting)

Format

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

Store it electronically.

Control-click all sheets that you want to include in the report. Export a PDF document (non-repudiation). You will need it a second time 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.

A printed version need to be deposited for small vzws at the Commercial tribunal; for big vzws at the Balanscentrale van de Nationale Bank.

Print single-side; prepare 2 copies for the administration. A board member should write his full name, sign, and date once on each page. You can send the documents by post. Include a stamped return envelope. You will get a copy with a receipt confirmation stamp.

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

Small vzws need to upload the PDF copy to BIZTAX

See:

Data entry timing

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

The latest legal filing date is the last day of the month following that of the general assembly, without falling more than six months behind the close of the financial year.

Before end of March, you need to declare and pay the Taks tot vergoeding der successierechten.

Other components

Yearly budget
Project expenses (required for the Foundation)
Financial reporting
Project reporting

External links

General ledger

Yearly balance sheet

VZW

References

↑ VSDC vzw Review, maart-april 2022, nr. 200, p. 5-6

[1] VSDC vzw Review, maart-april 2022, nr. 200, p. 5-6

[1]