Your 5 accounting obligations as a Micro-entrepreneur
Welcome to My Blog! here is another edition of my "business in france" blog post
1. Drafting an invoice for each sale
It is mandatory to issue an invoice for each sale.
The invoice can be issued in a foreign currency provided that this currency is internationally recognised and convertible (e.g. dollar or pound sterling).
In addition, the invoice must include a number of compulsory elements:
- Being established in the French language (if not, the tax administration may require a translation certified by a sworn translator, for control).
- Being drawn up in duplicate, with the original copy for the client.
- Including a number of compulsory details such as : date, identity of the seller, invoice number, VAT number, etc.
2. Declaring your collected turnover to URSSAF monthly or quarterly
Declaring your turnover can only be done online on www.autoentrepreneur.urssaf.fr
It shall be done monthly or quarterly depending on what you chose at the registration stage.
You must declare your collected turnover even if it’s zero, or you would have to pay a 52 euros penalty.
3. Having a bank account dedicated to your activity
Businesses with annual revenue of 10.000 euros or more have an obligation to have a bank account dedicated to their commercial activity.
Remember that the indication “Entrepreneur individual” or the initials “E.I.” must appear on your bank account’s title.
4. keeping a revenue ledger
The revenue ledger is a register that summarises in chronological order all the revenue that has been collected in the course of a year.
It must contain certain information, in particular the amount and origin of the revenue, the method of payment and the references of supporting documents.
5. submitting your yearly income tax return
Every year in April/May you must fill out your income tax return nº 2042-C-PRO and submit it online to the tax administration through your personal account.
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Hi I'm Mathilde, a lawyer passionate about entrepreneurship and expatriation. I support expatriates in setting up and managing their businesses in France. Do you have any questions or concerns regarding your business? I'm here to guide you!