Revenue & Expense Ledger — For small businesses and freelancers
The revenue & expense ledger is a simplified accounting record for small businesses and self-employed who are not required to maintain double-entry bookkeeping. It records all inflows and outflows chronologically.
Definition
The revenue & expense ledger is a simplified accounting record for small businesses and self-employed who are not required to maintain double-entry bookkeeping. It records all inflows and outflows chronologically.
Details
Eligibility for simple bookkeeping: annual revenue up to 3,000,000 MKD. Contains: date, transaction description, revenue amount, expense amount, balance. Must be kept for 10 years. After exceeding the threshold — obligation to switch to double-entry.
Example
Freelance developer: 15.01 — revenue 30,000 MKD (invoice for client A), 18.01 — expense 5,000 MKD (internet), 20.01 — expense 2,000 MKD (software). Balance: +23,000 MKD.