BILLY simplifies managing your cash register, specifically cash payments. This ensures you comply with tax legislation and integrate your data directly into your accounting ✅
💡 A bank deposit is not sufficient to file your cash income. It is mandatory to keep a daily record of cash transactions in a cash register.
As soon as you receive cash income
You can add an entry to your cash register simply by clicking the "+" button and then selecting "Cash Entry".
You will then access the entry screen:
1️⃣ Date
In this first field, you must indicate the date of the service. For daily entries, we default to the current date 🗓️
Two entry methods are possible:
You enter each service separately. This is the preferred method for full transparency.
You group services from the same day on a single line. This method is allowed if you have another reliable way to prove your schedule. This could be a business software linked to your calendar or an Inami attestation book.
In any case, you must make at least one entry per day. It is not possible to group multiple days into a single cash entry.
📖The legal requirement is to record at least one entry per day. It is not possible to group multiple days into a single entry.
2️⃣ Amount
Indicate the amount received. When grouping several consultations, indicate the total amount. If you perform services subject to VAT, include the VAT in the amount.
⚠️As soon as you receive a service over €250, you must isolate it. If you group several services per day, you will need to make a specific entry for this transaction.
3️⃣ Type of transaction
With BILLY, you manage not only your income but also the total amount you have in cash 📊 The cash balance must be monitored as it is linked to your professional activity, similar to the balance of your business bank account.
It is therefore necessary to keep a record of all your cash inflows as well as how you use it Whether depositing it in the bank or for private use
Direct cash payment to a supplier is currently not managed on BILLY.
If you encounter this situation, contact us in the app chat 💬
It is possible to record three types of transactions:
Cash Entry - Service: Choose this option to indicate a service received in cash (that has not been invoiced). This transaction will create an entry in your income book and a movement in your cash register. (For more information on the difference between an income book and a cash register click here )
Withdrawal to bank: The cash deposit to the bank must be recorded in your cash register. There must be an exact match with the amount that will arrive in your bank account. (In your bank journal, this transaction will not be considered as income but as a cash deposit.)
Private withdrawal: When you keep the cash for private purposes, indicate it with this option. It is best to operate with two well-separated "purses". Avoid using your business cash directly for private purposes.
Cash Entry - Income with invoice: Choose this option if you have issued an invoice and your client has paid it in cash.
Example:
I receive a service of €50 in cash, then deposit this amount directly at the bank. I must record two transactions in my cash register:
First, I record a cash entry of €50 to indicate a cash inflow. In my cash journal, a positive movement of €50 is recorded. My cash balance increases by €50. At the same time, an income of €50 is recorded in my income book.
Then I record a bank deposit of €50. This deposit reduces my cash balance by €50. This transaction is not considered as income.
4️⃣ VAT
If you are partially subject to VAT (exempt for most of your services and franchised for a small part, for example), you will need to select the VAT regime applicable to the service.
If you have only one type of VAT liability, the choice will be applied automatically.
5️⃣ Comment
To annotate your transactions ✍️ you can add a free comment. This will be associated with the transaction and visible from your income management.
You can include the name of your patient/client, the number of services if you group them, or even the related Inami certificate number.
💡 You can modify or delete a transaction until the end of the week in which you entered it. This gives you time to correct any mistakes. After this date, the transaction will be locked 🔒
Finding the Right Category
Example Cash Movement | Category |
I receive a cash payment from a patient | Cash Entry |
I pay a personal expense with cash (from the cash register) | Private Withdrawal |
I take cash from the register to deposit it at the bank | Bank Deposit |
I withdraw cash from the business bank account to fund my cash register | Currently unavailable, avoid this type of transaction, use a cash fund with private cash |
I pay a supplier with cash from the register | Currently unavailable, avoid this type of transaction |
Have a question? Write to us in the chat at the bottom right of your app 🙂
See you soon 😄