Invoicing for your shop, simple and automated

Every retailer is bound by time-consuming and tedious accounting obligations. The best way to relieve yourself of this burden, which eats into the time you should spend managing your business, is to select the most efficient and competitive invoicing software for your shop. Here are the criteria it must meet.

Automations in invoicing software for shops

Below is the list of general accounting obligations for retailers. You must add the administrative rules and information specific to your business. The invoicing software for your shop you choose must comply with the rules tied to your company’s legal status. It must also let you easily link all the supporting documents from your sales and from running your shop.

Accounting software for shops like Bizyness provides a wide range of automations that simplify your life and save you time. In addition to accounting documents, you can easily upload supporting files and assign them to various folders. You can also link your accounting to your business bank account. Bizyness is designed to integrate with the automation tool Zapier, which unlocks extended features.

Accounting obligations for retailers

As a retailer, you are required to keep accounts that are regular, accurate, and faithful to your company’s reality. Your accounting obligations depend on your tax regime (micro-entrepreneur regime or actual tax regime) and the size of your business.

Invoicing software for shops handles all of these obligations on a daily basis. It also lets you generate custom accounting exports to prepare your revenue declarations for the tax authorities. These exports are also intended for various stakeholders: accountant, consultant, banker, insurer, investor, and so on.

The actual tax regime applied to retailers’ accounting

A retailer’s accounting is the same whether you’re under the standard actual tax regime or the simplified actual tax regime, with a few exceptions, since the latter benefits from administrative relief.

• Invoicing while making sure to include the mandatory statements.
• Chronological recording of every transaction affecting your shop’s assets: purchases, sales, investments, banking operations, etc.
• Keeping an annual inventory to physically check and list all the assets and liabilities of your shop.
• Maintaining the mandatory accounting ledgers.
• Preparing annual accounts at the close of each fiscal year: balance sheet, income statement, and notes. These documents must match your records and the results of your inventory.
• Retaining all supporting documents.

Invoicing with shop invoicing software

With quality invoicing software for your shop, once you’ve customized your document with your colors, added your logo, and adjusted the layout, it automatically handles invoice numbering, taking into account all the mandatory and legal statements you’ve configured.

A shop’s accounting ledgers

Every retailer must present 2 accounting ledgers.

1. The daybook (livre-journal), which lists all the transactions you’ve recorded, in chronological order.

2. The general ledger (grand-livre), which lists all the transactions you’ve recorded, grouped by account number.

Annual accounts

For each fiscal year, you must produce a balance sheet that states the condition of your shop’s assets. The balance sheet describes the company’s assets (cash, inventory, receivables, and fixed assets) and liabilities (loans and debts).

The income statement focuses on revenue as well as expenses, notably salaries, investments, and rent. It provides an assessment of your shop’s performance as of the fiscal year-end.

Simplified presentation of the balance sheet and income statement

If you meet two of the following three conditions, you’re allowed to file a simplified presentation of your balance sheet and income statement.

1. You employ no more than 50 staff.

2. Your revenue does not exceed 8 million.

3. Your total balance sheet does not exceed 4 million euros.

Notes to the accounts

The notes to the accounts essentially serve as an explanation of the text (and above all, the figures). They help readers of your documents better understand the balance sheet and income statement.

Exemption from notes to the accounts

If you do not exceed two of the following three criteria, you are exempt from presenting notes to the accounts.

1. You employ no more than 10 staff.

2. Your revenue excluding tax does not exceed €700,000.

3. Your balance sheet total does not exceed €350,000.

Essential features of your shop’s accounting software

Your accounting software must be designed for managing a shop and offer features that let you easily produce your balance sheet, annual accounts, and notes to the accounts. In addition, these documents must be kept for at least 10 years. The ideal choice is software like Bizyness, which automatically saves your data to a dedicated cloud space.

This way, you don’t have to worry about storage on your own computer, or about updates and the cost of available space — everything is included in your subscription. You can also access your data from any device (desktop, laptop, tablet, or smartphone).

In addition, all of your accounting must be backed by supporting documents: bank statements, purchase invoices, customer invoices, various receipts, and so on. You should be able to easily upload them into your shop invoicing software. To save time, it’s best to automate this type of task, so that your supporting documents are assigned directly to the matching accounting entries. This way, you stay compliant and can respond to tax authority questions at any time.

These supporting documents must also be kept for 10 years.

Take the time needed to select your invoicing software for a physical shop or e-commerce business. It must be intuitive, easy to get started with, and customizable. It’s important that your business documents look professional, both for your customers and for the tax authorities. Choose software like Bizyness, which offers many options for customization and automated task scheduling. It can be paired with a tool like Zapier, which multiplies its automation capabilities.

All the time you save on tax-related tasks lets you focus more on running your business.