General ledger

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

A small VZW can run a simplified version of the general ledger.[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.

See also: Tax declaration, general assembly.



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






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. You can send the documents by post. 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


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 of the next year, you need to declare and pay the Taks tot vergoeding der successierechten (balance smaller/larger than 25.000 EUR).

Other components

General ledger
Yearly balance sheet

See also



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