Running an undeclared business is becoming increasingly popular among people who want to start earning from their passions, but are not yet ready to fully commit to a business. One of the key aspects of running such a business is sales records. In this article, we’ll discuss what sales records in an unregistered business are, what the most important aspects of them are, and how a virtual office can make them easier to maintain.
What is an unregistered activity?
Non-registered activity is a form of business that does not require registration with the Central Register and Information on Business Activity (CEIDG). Income from unregistered activity cannot exceed 75% of the minimum wage in any month. Thus, as of July 2024, they cannot be higher than PLN 3225 per month. Why is it important to keep records of sales in unregistered business?
Records of sales in an unregistered business are necessary for several reasons:
- Revenue control: Keeping records allows you to keep track of your income, which is important not to exceed the limit of PLN 3225 per month.
- Tax settlements: Sales records make tax settlements easier, especially if income from undeclared activities is combined with other sources of income.
- Proof of legitimate business: The possession of sales records can be evidence of legitimate unregistered activity in the event of a tax inspection.
How to keep records of sales in an unregistered business?
Keeping records of sales in an unregistered business is not complicated, but it requires regularity and accuracy. Here are the most important steps:
- Choosing the form of records – Sales records can be kept in paper or electronic form. The choice of form depends on the preference of the entrepreneur. However, it is worth remembering that electronic records may be easier to manage and search.
- Data collection – All sales transactions should be included in the sales records. Each entry should include the date of the sale, the value of the sale, and information about the buyer.
- Document storage – It is important that all documents related to sales, such as receipts, named invoices or bills, are stored in an orderly and easily accessible manner.
Sales records vs. virtual office
Running an undeclared business using a virtual office can greatly facilitate the management of sales records. A virtual office is a service that offers entrepreneurs a business registration address and a range of additional services. Using the services of a virtual office Office for Teddy Bear can significantly facilitate the management of sales records, offering a professional address, document scanning and archiving services and administrative support. This allows the entrepreneur to focus on growing his business rather than on office issues.