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Annual Accounts Checklist

Checklist for Annual Accounts – Netherlands

This checklist sets out the minimum documentation required for the preparation of annual accounts under Dutch accounting and tax standards.

Complete and structured documentation materially improves efficiency and reduces follow-up queries. The responsibility for maintaining a complete and reliable administration remains with the entrepreneur or managing director.

The administration must comply with Dutch statutory bookkeeping requirements and be suitable for corporate income tax, personal income tax and VAT reporting purposes.

1. Incoming Invoices (Purchase Ledger)

Provide all incoming invoices relating to the financial year.

This includes trade creditors, professional services, rent, utilities, insurance, software subscriptions and other business expenses.

Please ensure the following:

  • Invoices meet Dutch VAT requirements (supplier details, VAT number, invoice date, description of services, VAT amount).

  • Costs are clearly business-related.

  • Private expenses are excluded or clearly marked as private withdrawals.

  • For mixed-use expenses, a clear allocation between business and private use is included.

  • Any non-deductible costs are identifiable (e.g. certain fines or limited-deductible expenses).

If costs are incurred near year-end, ensure the invoice date and service period are clear to allow correct accrual treatment.

2. Outgoing Invoices (Sales Ledger)

Provide a complete and sequential overview of all outgoing invoices.

The following conditions must be met:

  • Invoice numbering is strictly sequential without gaps.

  • Any missing invoice numbers are explained in writing.

  • Cancelled or corrected invoices are properly credited.

  • Invoices comply with Dutch VAT invoicing requirements.

  • The date of supply is clearly indicated where different from the invoice date.

For cross-border supplies, indicate:

  • Whether VAT was charged or reverse-charged.

  • The customer’s VAT number (if applicable).

  • The place of supply and applicable VAT treatment.

Incomplete or inconsistent invoicing may lead to VAT exposure.

3. Cash Book

If cash transactions occur, a properly maintained cash book is required.

Please ensure:

  • Cash receipts are numbered sequentially.

  • Entries are recorded chronologically.

  • Each entry clearly states the nature of the transaction.

  • Private cash transactions are excluded.

  • Catering expenses include a clear business purpose description.

  • Cash received is recorded in the cash book or in a separate reconciliation document.

A negative cash balance is not acceptable under Dutch bookkeeping standards.

4. Bank Administration

Provide complete bank records for all business bank and savings accounts.

Requirements:

  • All bank statements are present and ordered sequentially.

  • MT940 files are supplied where available.

  • Each transaction is identifiable and traceable to supporting documentation.

  • Private transactions are clearly marked as such.

  • All outgoing payments are supported by invoices or contracts.

  • Payments to insurers and the Dutch Tax Authorities are specified (e.g. VAT, wage tax, corporate income tax).

  • Partial payments are clearly reflected on the relevant invoice.

For foreign currency accounts, exchange differences must be identifiable.

5. Year-End Information (31 December Position)

The following year-end information is required for proper accrual accounting and tax determination.

Accruals and Payables

  • All purchase invoices received but unpaid at 31 December.

  • Invoices received after year-end that relate to the financial year.

  • Overview of outstanding trade creditors.

Receivables and Revenue

  • List of outstanding sales invoices at 31 December.

  • Sales invoices issued after year-end that relate to the financial year.

Financing and Banking

  • Annual bank statements (business and savings accounts).

  • Annual statements for business loans and other financing, including interest charged.

  • Credit card statements with supporting invoices or descriptions.

Tax and Compliance

  • Copies of all VAT returns filed during the year.

  • Wage tax returns (if applicable).

  • Corporate income tax assessments or provisional assessments received.

Employees (if applicable)

  • Complete payroll file.

  • Annual wage summaries.

  • Employment contracts and amendments.

Assets and Investments

  • Fixed asset register.

  • Specification of investments with copies of purchase invoices.

  • Depreciation overview (if available).

  • Stock list as at 31 December at purchase value, including inventory count documentation.

Insurance and Contracts

  • Copies of all business insurance policies.

  • All ongoing contracts with recurring payments (rent, lease, subscriptions, financing agreements).

Entrepreneurs (Sole Proprietorship or Partnership)

  • Overview of hours worked during the year.

  • Overview of partner hours for co-working deduction purposes (if applicable).

  • Kilometre registration for business vehicles (if relevant).

6. Additional Information

Provide any additional information that may affect the annual accounts or Dutch tax position.

Examples include:

  • New group structures or changes in shareholding.

  • Cross-border transactions.

  • Loans granted to or received from shareholders.

  • Significant legal disputes or contingent liabilities.

  • Changes in business activities.

Contact

If documentation is incomplete or unclear, preparation of the annual accounts may be delayed.

For technical questions regarding Dutch corporate tax, VAT or bookkeeping requirements, please contact us before submission.