Profit and loss account for Elster
Regardless of whether it is the monthly input tax return or the annual tax return: The profit and loss account is a must for the self-employed and also for freelancers! With Elster and a little organization, however, it works very easily and in the blink of an eye you might get a small repayment.
What you need:
- supporting documents
- calculator
- notes
Create the income statement with Elster
- The income statement with Elster is no drama. Collect and sort your receipts regularly using a filing system that is easy to use. You can sort by months, but also in the classic way by income and expenses.
- Do not make any information in the profit and loss account for which you do not have proper receipts. You need the originals, copies take that Tax office not against.
- Total your earnings on a sticky note. This includes payments from your clients and the respective VAT rate. Rental income, lease income or income from investment income are also included here.
- You make this information for the profit and loss account in Elster in the so-called "Annex EUR". You enter your sales, VAT, etc. and add up these amounts.
- Now enter your expenses, i.e. your so-called losses. This includes, for example, fuel bills, expenses for office equipment - what you just needed for your job and can prove it with receipt.
- You also add these amounts together and enter them accordingly (for example, add up all fuel bills and tickets and under "ride costs" enter).
- The rest of the profit and loss account is taken over by the Elster program. The values are calculated and entered automatically.
- Now start the "plausibility check" and correct it if necessary.
- Don't be alarmed if you've made a loss on your income statement. Then the chances of getting a tax refund are good, especially if you've just started your business. However, this should not become permanent.
- Important: If you are entitled to input tax deduction and you have claimed VAT for your new desk for tax purposes and have shown the expenditure in the annual tax return, then you have to deduct the subsequent depreciation refrain. That would then be a double deduction, which cannot be claimed. You should therefore decide in advance which expenses you want to claim for tax purposes, when and how.
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