If you run a sole proprietorship, you’re personally responsible for bookkeeping, sales tax, and annual financial statements. It may seem overwhelming, but it doesn’t have to be. At Accountview, we help self-employed individuals get their sole proprietorship accounting in order, so you can avoid paperwork chaos and stress as deadlines approach. You’ll have one dedicated point of contact who knows your business and keeps you updated on the most important deadlines throughout the year.
What We Offer to Sole Proprietorships
We handle the entire process, from day-to-day bookkeeping to the final annual financial statements for sole proprietorships. You decide how much you want to handle yourself and how much you want us to take care of. Many of our clients start by submitting their receipts digitally each month, and then we take care of the rest. Others only want help with their annual financial statements or tax returns at the end of the year.
Our services include, among other things:
- Day-to-day bookkeeping in Billy, Dinero, or e-conomic
- VAT Reporting and Account Reconciliation
- Tax Accounting for Sole Proprietorships, Including Reporting to the Tax Authority
- Preparation of annual financial statements with notes and key financial ratios
- Discussion on Deductions, Fiscal Years, and Taxation
We work digitally, so you don’t have to stop by with folders and papers. Documents are sent via app or email, and you can log in and keep track of the numbers whenever it’s convenient for you.
That's why self-employed professionals choose Accountview
Our greatest strength is that we bring everything together in one place. You don’t have to deal with a bookkeeper, an accountant, and a tax advisor separately. We handle the task together and ensure that the numbers add up consistently throughout the process. This saves you time and reduces the risk of errors. We specialize in small businesses, and we know exactly where the challenges lie. You’ll receive personalized guidance, and we always communicate in a way you can understand. No complicated jargon, no beating around the bush. Just concrete answers and decisive action.
Accounting Requirements for Sole Proprietorships
As the owner of a sole proprietorship, you are not required to file annual financial statements with the Danish Business Authority. However, you must prepare tax accounts, which form the basis for your annual tax return to the Danish Tax Agency. The accounts must be supported by receipts and comply with the general requirements of the Bookkeeping Act.
Among other things, this means that you must:
- Keep all receipts for five years
- Keep track of your income and expenses on an ongoing basis
- Report VAT Correctly and on Time
- Prepare financial statements that can be used for your personal tax return
We make sure that everything meets the requirements and that you’re well prepared in case the tax authorities ever ask to review your records.
A Quick Guide to Getting Started
When you’re ready to start a new accounting partnership for your sole proprietorship, we take a three-step approach. First, we hold a brief kickoff meeting to get to know your business and align our expectations. Next, we’ll set up your accounting software so that document management runs digitally from day one. Finally, we’ll agree on a regular schedule for bookkeeping, VAT, and reporting so you know what’s happening and when. If you already have accounting software, we can usually take over the task without any hassle. If you haven’t chosen one yet, we’ll advise you on what best suits your business and your budget.
Frequently Asked Questions
Am I required to hire an accountant to handle the books for my sole proprietorship?
No, sole proprietorships are not required to have an auditor. However, you can benefit greatly from getting help with bookkeeping and tax accounting, especially if you want to ensure that your VAT, deductions, and tax return are correct. We handle this for a fixed monthly fee.
When is the fiscal year for a sole proprietorship?
As a general rule, the fiscal year follows the calendar year, that is, January 1 through December 31. You can apply for a staggered fiscal year, but this is rarely relevant for small sole proprietorships. We’re happy to advise you if you have any questions.
How much does it cost to have financial statements prepared for a sole proprietorship?
The price depends on the number of documents and whether we also handle your day-to-day bookkeeping. We always provide a fixed price before we begin, so you’ll never be surprised. Contact us for a no-obligation quote.
Can you take over my accounting mid-year?
Yes, we’re happy to take over your accounting mid-year. We’ll review the previous months, correct any errors, and ensure a smooth transition. You’ll barely notice the change—other than that things will start running more smoothly.
Do you want peace of mind when it comes to your accounting? Then let’s talk and figure out how we can best help your sole proprietorship move forward.
