Asset vs. expense: what’s the difference?

Written by KateKate, 28 August 2019 in Accounting

As a freelancer or entrepreneur, you’ll regularly spend money on your business, and if you manage your business’s bookkeeping and accounting, it’s important to know how to account for the purchases you make – which involves distinguishing between assets and expenses.

Debitoor invoicing software makes it easy to manage your assets and expense. Find out more or try it free for 7 days.

In this blog post, we explain how an asset differs from an expense, how to account for assets and expenses, and how to record both in your accounting and invoicing software.

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Accounting software or invoicing software?

Written by KateKate, 22 March 2019 in Accounting

For anyone running a small business, it’s important to have the right tools for creating invoices, sending quotes, and keeping track of your company finances. When looking for software to help you do this, you’ll come across many different options for invoicing and accounting, but, rather than having one program for your invoices and one program for your accounts, why not choose software that combines the two?

Debitoor invoicing software makes it easy for small businesses to manage their bookkeeping and accounting

Depsite the name, Debitoor invoicing software isn't only designed for creating and sending invoices; with a range of features for bookkeeping and accounting, Debitoor can help small business owners take control of their finances. So here’s 5 ways you can use your invoicing software to manage your company’s accounts.

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4 accounting habits small business owners should pick up

Written by KateKate, 13 February 2019 in Accounting

Everyone has habits. Some of us bite our nails, others drink too much coffee. But not all habits are bad, and getting into a routine of good accounting practices can make it easier to manage your company finances. Here’s four good accounting habits that can benefit every freelancer and small business owner.

A photo of an entrepreneur with a computer and phone, with text that says good habits for your finances

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Bookkeeping and accounting: what's the difference?

Written by KateKate, 20 November 2018 in Accounting

When most people talk about bookkeeping and accounting, they often treat them as one and the same. While they’re closely related, there are some important differences.

Understanding what's involved in bookkeeping and accounting is particularly important for small businesses - it helps you break down which tasks can be handled within the company and which require help from a professional, plus it makes it easier to identify what you should be doing on a regular basis.

Bookkeeping and accounting with Debitoor invoicing software

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6 ways to improve cash flow in your business

Written by LoukiaLoukia, 29 October 2018 in General Accounting

Effectively managing cash flow is vital to the runnings of your business. We all like to see what money is coming in, but if we dont keep track of what money is going out and what is on hand, then your business might be heading for a crash without you even knowing it.

6 ways to improve cash flow in your business Debitoor invoicing software

Cash flow is one of the most important metrics to follow - especially when it comes to forecasting the future growth of your business.

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Invoice template: Difference between issue date and delivery date

Written by LoukiaLoukia, 24 October 2018 in Accounting General

In an invoice template, is it essential to distinguish between the issue date and delivery date?

issue date versus delivery date in invoice template Debitoor

When creating invoices as a self-employed person or an entrepreneur, there are some requirements and demands you need to be clear about and meet in order for your invoice to be considered a legal document. These requirements entail including certain mandatory content on the invoice, as requested by the tax authorities.

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Accountant vs accounting software

Written by LoukiaLoukia, 1 June 2018 in Accounting

Whether you are a small business, freelancer, sole trader, or self-employed, it can be quite tough sometimes taking care of both your business and personal life.

Put the calculator away. An accounting software like Debitoor can help you track your business activity automatically and instantly

When it comes down to it, your finances lay the path ahead for your business activity and growth, which is why it’s not a bad idea to turn elsewhere for some help or advice.

As a small business, you have many options for how to manage your accounting system, and you don’t have to do it alone. A common topic of discussion is whether you should use an accountant, or accounting software. In order to help you make this decision, we are going to discuss some vital points you should first consider.

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Provisions for small businesses and freelancers

Written by KateKate, 30 January 2018 in Accounting

As a freelancer or small business owner, one of your main responsibilities will be planning (and sticking to!) a budget. But how do you budget for an upcoming expense if you aren’t entirely sure when it will occur, or how much it will cost? The answer: you would create a provision.

Create a provision with Debitoor invoicing software, designed for sole traders, freelancers and small businesses

A provision in accounting is a liability without a fixed timing or amount. When you create a provision, you are setting aside a certain amount to cover anticipated future expenses, before knowing exactly how much it will cost, or exactly when it would occur.

According to the matching principle, revenue generated in a specific accounting period must be matched against the expenses occurred within the same period. By creating a provision, you are ensuring that the cost will be expensed and recognised in the correct accounting period.

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What your accountant should do daily

Written by Steve BicknellSteve Bicknell, 6 July 2016 in Accounting

Your interaction with your customers and your suppliers has changed dramatically over the past decade or so. With the constant introduction of new technology, combined with new channels for communication and interaction, it’s no wonder these relationships have shifted to suit the times.

How you work with your accountant is no different. The myriad methods for recording, communicating, and assessing financial data, whether personal or for a business, have changed the way you interact with your accountant.

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Optimizing the relationship with your accountant

Written 3 June 2014 in Accounting

It's always been our aim to turn Debitoor into a simple and professional accounting application. And improving a relationship between you and your accountant is another step towards this vision.


Until recently you had to physically keep the copies of all your invoices and receipts in a box or an envelope so you could take it to your accountant at the end of the month and let them sort through this one-by-one to make sense of your accounts.

But thanks to the age of cloud software that we're living in it's really unnecessary to do this double work. Not to mention that the overuse of physical documents affects the environment.

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