{"id":1022,"date":"2014-12-26T15:59:32","date_gmt":"2014-12-26T14:59:32","guid":{"rendered":"https:\/\/yoga-ashtanga.net\/en\/?p=1022"},"modified":"2016-03-01T10:59:27","modified_gmt":"2016-03-01T09:59:27","slug":"yoga-centre-accounting-whats-it-for","status":"publish","type":"post","link":"https:\/\/yoga-ashtanga.net\/en\/yoga-centre-accounting-whats-it-for\/","title":{"rendered":"Yoga centre accounting : what\u2019s it for ?"},"content":{"rendered":"

The general accounting of a Yoga Centre registers the value of transactions made by your yoga classes and it also identifies what the Yoga Centre owns and what it owes.<\/p>\n

The accounting will document the cash inflows and cash outflows chronologically: the cash outflows (charges, expenses\u2026) can be deducted from the cash inflows (classes, selling of T-shirts, books\u2026), which will give you an idea of the operating result and the net income for the year (income statement)<\/p>\n

Another document, prepared annually, is the balance sheet. This will show a state of the financial balance of your centre (company or Independent) by repeating in detail what it owns and what it owes.<\/p>\n

Finally, there is a set of related documents that provide details on these recorded operations.<\/p>\n

The legal obligation of accounting<\/b><\/p>\n

It is mandatory to have accounting in all business activities.<\/p>\n

However, there are different types of accounting, such as:<\/p>\n

\u2022 Simplified accounting for liberal professionals: allows exemption of issuing a balance sheet of assets and liabilities, by completing a tax form (reference from# 2035A to 2035F)<\/p>\n

\"schema<\/a><\/p>\n

The principle of the accounting chart<\/b><\/p>\n

The general accounting principle of a “Yoga Centre” is the principle known as “double entry.”<\/p>\n

Transactions are reported in a table with two columns:<\/p>\n

\u2022 Inputs: the revenues<\/p>\n

\u2022 Outputs: the expenditures.<\/p>\n

This makes it easier to find a particular transaction or transaction group (expense or revenue) since everything is classified by type of expense or revenue.<\/p>\n

\"images\"<\/a>\u00a0\u00a0\"quick-office-excel\"<\/a><\/p>\n

The accounting books\u00a0<\/b><\/p>\n

It is mandatory to maintain certain accounting books<\/strong> based on the (business) size of your Yoga Centre.\u00a0Today, accounting software produce general\u00a0reports so \u00a0it is no more necessary to buy big books in paper form.<\/p>\n

There are also other differences for liberal professionals.<\/p>\n

Invoices<\/b><\/p>\n

All transactions between professionals require an invoice. Moreover, if you buy equipment (e.g. yoga mats), your supplier will need to issue an invoice on behalf of your yoga centre. On the other hand, issuing an invoice is not always mandatory, for example when selling to an individual.<\/p>\n

Mandatory information, which needs to appear on invoices\u00a0<\/b><\/p>\n

Information that must appear on your invoices :<\/p>\n

\u2022 Name and address of the Yoga Centre.<\/p>\n

\u2022 Registration number or commercial register<\/p>\n

\u2022 Legal form of the business\/company (EURL, SARL, SA..)<\/p>\n

\u2022 Name and address of the client<\/p>\n

\u2022 Invoice number<\/p>\n

\u2022 Issuing date of the invoice<\/p>\n

\u2022 Precise description of the provided goods or services<\/p>\n

\u2022 Quantity sold<\/p>\n

\u2022 Unit price excluding tax<\/p>\n

\u2022 The amount of the VAT<\/p>\n

\u2022 Price all taxes included<\/p>\n

\u2022 The date on which the invoice must be paid or the granted payment period.<\/p>\n

Where appropriate, the invoice may include:<\/p>\n

\u2022 Discounts, reductions<\/p>\n

\u2022 Method of payment<\/p>\n

\u2022 Late-payment rates<\/p>\n

\u2022 Cash payment discounts<\/p>\n

Terms for issuing an invoice\u00a0<\/b><\/p>\n

An invoice must be issued in two copies (in electronic or paper form):<\/p>\n

\u2022 One copy for the customer,<\/p>\n

\u2022 The other copy for the company\/business, it must be conserved for a minimum of 5 years<\/p>\n

The customer\u2019s copy must be immediately issued for any sale with immediate removal or immediate delivery (carpet). The invoice can be submitted later in case of a service to be provided in the future. In this case, the invoice can be given on the date of the end of the services.<\/p>\n

However, in some cases an invoice can be issued later than the delivery date, for example when you don\u2019t know what the exact price is or if you prefer to issue a single invoice at the end of the month for a series of services (consolidated invoice).<\/p>\n

Invoices for a professional customer\/company<\/b><\/p>\n

It is always required to issue an invoice when selling to a professional customer\/business.<\/p>\n

Your professional customer needs a proof of the purchase in his accounting but it is also necessary in order to calculate and recover the VAT.<\/p>\n

Invoices for a private individual<\/b><\/p>\n

The conditions regarding the invoices for a private individual are more flexible.<\/p>\n

Issuing an invoice is mandatory when individuals:<\/p>\n

\u2022 Have the ability to recover VAT, in the case of intra-Community sales with a country exempt from VAT,<\/p>\n

\u2022 Remote purchasing<\/p>\n