Running your own business means constantly learning new things. I am constantly surprised by something – and this something fits into the costs differently than I thought, and it turns out that the cash register is not needed for online sales, although I thought it would be necessary … But not everything can be learned you don’t need to know everything right away, because we will not have to deal with every situation when running a company.
Today, about a few things that nobody told me about when I started the company, and in retrospect, I think that such information may be useful.
1. Not Everything Can Be Invoiced And Not Everything Is Worth Being Invoiced
Simply put, we only take into the invoice what is the cost of our company, because we need the invoice to include the expense of these costs. But not everything is worth buying on the invoice. Firstly, because sometimes accounting offices have some price packages – that up to many invoices, accounting costs, for example, PLN 100, and above iluś – PLN 200. When we cross this magical border, it may turn out that we have paid PLN 100 more for accounting to put one stamp on the letter in the costs.
But there may be another reason. If we buy something as a business, we are not a consumer, so the provisions that protect consumers do not apply to us (e.g. the right to return without giving a reason when shopping online). It may also turn out that the warranty that is normally included with the purchase (e.g. electronic equipment) has a limited scope (e.g. shorter duration) when the buyer is a company. I had the same case when buying a camera – even though it came damaged and it was not mechanical damage, but a software error, the seller made huge problems to return the camera because it was bought for a company.
I read such wise advice somewhere – first buy, check if everything is ok, and then ask for an invoice. I do not know if all companies would issue such an invoice to us after some time, but it is worth considering.
2. Separating The Private Cash Register And Saving For Taxes Is Half The Battle
I have already written about this principle of managing corporate expenses, but let me remind you: from each income invoice, put aside the amount of VAT and the amount of income tax that you will have to pay on this invoice. I always had a separate sub-account for it and I immediately transferred the entire amount there. Only the rest is yours, you can have this money. Otherwise, when it comes to paying taxes, you will be unpleasantly surprised, because the money has already been spent and there is nothing to make a transfer to the tax office.
3. Keep An Eye On Papers, Contracts, Invoices, Preferably Systematically. Check If The Data On The Invoice Is Correct Before Leaving The Store
I’ve always had problems with being systematic, but the truth is that if you don’t keep your documentation in order right away, then it’s hard to organize everything. For example, I have a few hopeless habits – when a completed order form comes from a client, I never save it immediately to the appropriate folder, and then if I need it – I have to search the entire inbox. Or: I have a terrible mess in the folders on the disk and I do not remember where I currently saved the contract template and I have to look for a long while before I find it. I pay invoices on time, of course, but I don’t always remember to save them immediately on the disk in a folder, the contents of which I then send to the accountant.
And one more piece of advice related to invoices: always check the NIP number and correctness of all data immediately after receiving the invoice in the store. If they do not match, and you only discover it at home, you may not want to come back for an invoice.
4. Plan All Your Expenses And Spend Your Money Wisely, Especially In The Beginning
This is a typical beginner’s mistake, who would like to have everything at once – company logo, business cards, paper with a logo, pens, T-shirts. Okay, but why the logo of a one-man renovation company that only advertises direct mouth to mouth? Why does a t-shirt need someone who works exclusively via the Internet? For example, so far I have no business cards. I need them so rarely that I don’t want to design and print them.
5. Zus And Taxes Are A Sacred Thing – Always Pay Them On Time
Late transfers to ZUS can cause a lot of trouble. First, you will lose your health insurance. Even if by some miracle you have additional insurance in a private clinic, remember that thanks to insurance in ZUS you also have cheaper drugs, and if you need to have an operation, a private clinic will not give you such an opportunity (read more in the text You also believe in this nonsense about health insurance? ).
Secondly – ZUS may seize the debtor’s property if he is in arrears. Remember that if you have a sole proprietorship, you are responsible for your obligations with all your property, i.e. a flat, a car, even if you have them together with your spouse. ZUS may also use your account balance to recover the debt. Nothing nice, so it’s better to stick to point 2 and save for taxes right away.