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Proof of payment | Recurring expenses without an invoice or receipt

How do I enter recurring expenses such as subscription, insurance and bank charges?

In general, you must have a receipt or invoice for all business expenses as proof to the tax authorities. Nevertheless, there are a number of exceptions. Recurring costs are expenses that are exactly the same every period (week/month/quarter/year) and for which you (often) do not receive an invoice. Think of cloud costs or bank costs. Which we describe below.

How you process recurring costs in the system depends on your subscription:

  • Plus Subscription | enter once: enter recurring issue in system once and tick as recurring
    • As soon as we have added an expense for you, you can mark it as recurring yourself by clicing Advanced.
  • Basic Subscription | process as individual expense: process each debit as an expense again

Risk management


After you mark the expense as recurring, each month the expense is automatically booked in your expenses. There is then no supporting document with this each month. To avoid having to search for a lot of receipts/bank statements in case of a possible audit, we like to limit the risk. For this reason, we use a target amount of around €10 maximum per recurring expense. We would also like to have at least one invoice (or bank statement) for these expenses in your records each year. So never make recurring expenses recurring for longer than a maximum of 1 year.

Subscriptions

You can simply enter costs that are deducted as a subscription at Expenses. Read here how to enter a business expense. For this you can, for example, upload the copy as proof. If these are recurring charges of the same contract with the same costs, you do not have to upload a proof every time.

Bank charges

At the end of the year, you provide us with an annual overview of your business bank account. To ensure that your bank costs are also included, you can choose to also enter your bank costs at the end of the financial year for your Q4 administration.

Insurance

You do not always receive an invoice for professional liability insurance, business liability insurance or contents insurance either but  often you do receive a insurance policy showing the annual amount. Add this insurance policy to your expenses and we will include these costs in your annual expenses. Note that this often does not include VAT.

 

by Mari Last update: 08 Feb, 2024