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Ask a tax advisor on the topic of Annual financial statement

EÜ invoice; Approach operating income and expenses

Dear Sir or Madam,

At the beginning, for your understanding, I would like to provide some information about the business that I will start on 01.02.10. The business will be registered as a sales driver for rotisserie chickens (subcontractor).

Activity process:

I will drive 5km daily with my private car to the company location to pick up the sales truck (ST). The ST will be rented from the main contractor (MC). Then I will drive to my sales location, which will vary weekly. Before starting the journey, I will daily purchase baked goods (pretzels, etc.) at my own expense from a bakery. The rotisserie chickens will be provided by the MC. The bakery purchases will be partially reimbursed by the MC with the monthly commission statement (50-60%). I will generally cover the travel expenses (fuel receipts) for the sales truck out of my own pocket.

Now to my questions:
1. Operating income:

Recently, I received a commission statement. It includes an amount for the sold chickens plus baked goods with 19% VAT. Therefore, I have an account for revenue with 19% VAT in the accounting. Is this correct?

2. Operating expenses:

Cost of goods sold:
I set the difference between the costs for the baked goods and the reimbursement as cost of goods sold at 7%. The provided rotisserie chickens are not considered a cost of goods sold. Is this correct?

Travel expenses:
I claim the trips from my residence to pick up the ST with the distance allowance. The business/work mainly takes place on the ST. Does a travel activity come into consideration here? I claim the trips (with ST) for purchasing baked goods and trips to the sales locations with the collected fuel receipts. I book these on the account for ongoing vehicle expenses with input tax deduction of 19%. I book the rent for the ST under external vehicles. Or should I alternatively book the fuel receipts under external vehicles as well? Additionally, I book meal expenses on the account for travel expenses and meals. Are these bookings correct? Or do I need to make changes?

Thank you in advance.

Erol Aydin

Michael Herrmann

Dear inquirer,

First of all, thank you very much for your inquiry, which I would like to answer based on the information provided and in the context of your initial consultation. The response is based on the facts presented. Missing or incorrect information about the actual circumstances can affect the legal outcome.

Operating income: The booking of commission credits is generally done to a revenue account with 19% VAT. The account "Commission revenues 19% VAT" is available in the chart of accounts 3 and 4 for this purpose. If you also generate revenues in addition to this, it is done through the account "Revenues 19% VAT or 7%". Sales made off-site generally have a tax rate of 7%.

Goods received: Goods received are accounted for under the account "Goods received 7% (or 19%) input tax". Roast chickens do not represent goods received. The commission for the sale of baked goods is taken into account when booking the commission income. Therefore, it should be booked separately, with no difference to be determined.

Travel expenses: The distance covered by the private car is calculated at 0.30 euros per kilometer actually driven, not the flat-rate distance allowance, as the pickup location is not a place of work. Therefore, the flat-rate distance allowance does not apply. Account: "Vehicle costs for company-owned motor vehicles belonging to private assets."
The costs of the private car are correctly accounted for under "current vehicle costs" and "external vehicles".
The indicated booking of meal expenses is correct.

I hope that these details have given you an initial overview of the situation and remain

Yours sincerely

Michael Herrmann
Dipl.-Finanzwirt (FH)
Tax consultant

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Experte für Annual financial statement

Michael Herrmann

Michael Herrmann

Köln

Anbieterkennzeichnung gem. § 6 TDG



Diplom-Finanzwirt

MICHAEL HERRMANN

Steuerberater



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