G-Accounts
pateikė Bluace BV
Automatic splitting of amounts to the G-account and bank account for purchase and sales invoices.
Do you hire employees through an employment agency? Do you run an employment agency? Or are you an entrepreneur yourself, and do you hire a subcontractor? Then, you will likely use a G-account.
What is a G-Account?
A G-Account is a particular bank account used in the Netherlands for tax purposes, particularly for paying payroll and sales tax (VAT). The letter 'G' stands for blocked in Dutch because the money in this account is blocked for other business expenses. It is, therefore, an account that only can be used to pay payroll taxes, premiums, and VAT to the tax authorities or subcontractors. Such an account serves as a suspense account into which employers and clients can deposit money for taxes and social security contributions due in connection with the work of employees or service providers.
The G-Account applies to the following documents, among others:
- Purchase and sales invoice
- Sales draft invoice
- Sales proforma invoice
Features of the G-Accounts app
Automatic splitting of amounts to the G-Account and bank account for purchase and sales invoices.
Benefits of G-Accounts app
- Payment of taxes: employers and clients can deposit money into the G-Account to ensure the correct amount of wage tax and VAT;
- Liability protection: the use of a G-Account helps employers and clients protect themselves against liability for tax debts of their employees or service providers;
- Transfer to the Tax and Customs Administration: the money deposited in the G-Account is automatically transferred to the Tax and Customs Administration at specific times (for example, monthly) to pay the taxes due.
Availability
This app is available in the Netherlands only.
Pricing
For the pricing of the G-Accounts app, contact us.