Finance settings holds the settings of the band’s bookkeeping: the identity printed on invoices, the accounting rules, how booking fees appear on an invoice, the default accounts and the chart of accounts.
Open Finance settings
- Open Settings.
- Under Finance settings, select Financial profile, Accounting profile, Invoice mode, Accounting Settings or Chart of accounts.
The group is shown to a Financial admin or Admin, on a plan that includes Finance & accounting (Band Gold, Artist Gold). It applies to the band or artist profile you are working in. Most fields save as soon as you change them.
Finance setup wizard
At the top of Settings, a card Finance setup wizard (“Walk through your opening balance, financial profile and default accounts.”) opens the page Finance setup with the button Start. The steps are Accounting profile, Opening balance, Financial profile, Integrations, Default accounts and Done.
| Step | What it asks |
|---|---|
| Opening balance | Choose Enter it now (Bank balance and As of date; enter 0 for an empty account and a negative amount for an overdrawn one) or Set it later from a bank statement: when you import a bank statement, gigBuddy offers to set the opening balance from it. |
| Integrations | Optional: connect Mollie for online payment of invoices and Shopify for merchandise orders. See Band settings. |
| Other steps | The same fields as Accounting profile, Financial profile and Default accounts below. Back, Next, Skip for now and Finish move through the steps. |
Financial profile
The band’s legal and financial identity: the name, address and identifiers that appear on the invoices you send. They are meant to be the registered details. The accounting rules behind the documents are set under Accounting profile.
| Field | What to enter | Notes |
|---|---|---|
| Formal name (KvK) | The name as registered at the Chamber of Commerce. | |
| Legal form | The legal form, or Not specified. | A company must list its directors on invoices. Saves at once. |
| Legal form note | Optional: a form that is not in the list or an extra detail. | At most 120 characters. |
| Company registration number | The registration number of your country, for example the KVK number in the Netherlands. | The label, format example and extra fields (such as a registration office) follow the accounting country. Where the VAT number serves as registration number, the VAT number is used and the field is disabled. |
| Managing director(s) | The directors, shown on invoices. | Appears only for a legal form that must disclose them. |
| Street + number, Postal code, City, Country | The address. | The country is the country of your address. The country your books are kept in is set under Accounting profile. |
| Business email, Business phone | Printed on invoices as your public contact details. | |
| IBAN | The bank account for payments. | |
| Tax ID (Btw) | Your VAT number. |
Accounting profile
The accounting rules this band’s bookkeeping follows. Later reports, VAT workpapers and retention periods are derived from these answers, so they describe facts about the band, not preferences. A profile that was filled in automatically is checked and confirmed with Confirm.
| Setting | Options | What it does |
|---|---|---|
| Accounting country | A country | Decides the VAT rules and rates, the legal forms, the account names and which documents exist. See below to change it. |
| Base currency | Set with the country | Used for all bookkeeping, invoices and reports. A currency other than euro is recorded but not applied yet: invoices, the UBL export and reports are still produced in euro. |
| Financial year starts (month), Day | A month and a day | The start of the financial year. |
| Registered for VAT | Yes, No, Not yet confirmed | A legal fact, not inferred from turnover. Leave it on Not yet confirmed until you know. |
| VAT filing frequency | Monthly, Quarterly, Yearly, As assigned by the tax authority | Copy the period the tax authority assigned you. Available only when you are registered for VAT. A band on a VAT scheme files no periodic returns until the scheme ends. |
| Default VAT rate | One of the band’s VAT rates | Prefilled on new invoice lines. You can change the rate per line. |
Change accounting country
Change accounting country opens a dialog with the new country. It is only possible before any invoice, purchase, journal entry, reimbursement, VAT return, merchandise sale or bank import exists. It resets VAT registration, filing settings, legal form, reporting framework, scheme enrolments and product VAT defaults, and the stored identifiers must be valid for the new country. Confirm with Change and reset.
VAT rates
The VAT rates that can be chosen on invoices, purchases and merchandise follow the accounting country. A table lists each rate (Rate), what it is (Standard rate, Reduced rate or Zero-rated or exempt) and what it is used by default for (New invoice lines, New purchase lines). When the country has fixed rates they cannot be edited; a transaction abroad can still get a foreign rate on the line itself. When a country has no national rate table, the band keeps its own list: enter New rate (%) (0 to 100, at most two decimals) and choose Add rate, remove a rate with its remove button and choose Save rates. 0% is always available, a band can keep a limited number of rates, and removing the default rate makes the highest remaining rate the default. Changes apply to new lines only; issued documents keep their rates.
Artiestenregeling
Shown only for an accounting country that has a gage declaration (see Gage declaration).
| Setting | Options | What it does |
|---|---|---|
| Apply the artiestenregeling by default for new gigs | On/off | New gigs start with the artiestenregeling. Under it the band never charges VAT. |
| Cost scheme on the gageverklaring | None, Kleinevergoedingsregeling (with the amount per member per performance), Kostenvergoedingsbeschikking | Disabled while the artiestenregeling is off. Turning it off sets the cost scheme to None. |
VAT scheme
Which small-business or cross-border scheme the band is enrolled in, and between which dates. Changing a scheme never changes an invoice you already sent: those keep the VAT treatment they were issued with.
| Field or action | What it does |
|---|---|
| Start a scheme | Opens Start a VAT scheme. Requires Registered for VAT set to Yes. |
| Scheme | A scheme of the accounting country, for example the Dutch Kleineondernemersregeling (KOR). |
| First day, Last day | The first day the scheme applied, as stated by the tax authority, and the last day it applied (that day is still covered). Leave Last day empty while the scheme is ongoing (Ongoing). Enrolments cannot overlap. |
| Confirmation date | Optional: the date on the letter confirming the enrolment. |
| Destination country | For the cross-border EU scheme: the member state that granted the exemption. It applies to sales into that country only and does not change the returns you file at home. |
| Edit, Retract | Edit an enrolment, or retract a confirmed one (Retracted) so the history stays intact. An enrolment in a period with issued invoices or bills cannot be removed. |
A scheme marked Recorded only is stored, but suppressing VAT on invoices is currently only implemented for the Dutch KOR and the Belgian franchise scheme. Invoices keep charging VAT under other schemes. A band on a VAT scheme files no periodic returns.
Invoice mode
Preferred invoice mode chooses how booking fees are shown when a gig is turned into an invoice draft. The choice saves at once.
| Option | Effect |
|---|---|
| Combined (default) | Include the booking fee in the artist fee. |
| Specified | Show the booking fee as a separate line on the same invoice. |
Example: €1,000 including a €150 booking fee
| Mode | Invoice lines |
|---|---|
| Combined | €1,000 artist fee |
| Specified | €850 artist fee + €150 booking fee |
| Invoice total | €1,000 in both modes |
See Gig terms for the fees themselves.
Accounting Settings
Default accounts used when creating invoices and purchases. Each field lists the active accounts of the right type with their code and name; a choice saves at once.
| Field | Account type |
|---|---|
| Receivable account | Asset |
| Primary checking account | Asset |
| Cash account | Asset |
| Default revenue account | Revenue |
| Accounts payable | Liability |
| Default reimbursement account | Liability |
| Default expense account | Expense |
| Output VAT account (sales) | Liability |
| Input VAT account (purchases) | Asset |
| Merchandise revenue account | Revenue |
| PayPal clearing account | Asset |
| Shopify Payments clearing account, Shopify Payments fee account | Asset, expense. Shown when Shopify is configured. |
Also on this page: Currency (the base currency of the accounting profile) and Books closed through: nothing can be posted on or before this date; leave it empty to keep the books open. Changing an account that still carries an open balance (unpaid bills, unsettled member debt, unpaid invoices or an unsettled VAT balance) is refused until you settle it. An input or output VAT account cannot also be assigned to another role.
Chart of accounts
The accounts used to categorize financial transactions, grouped by type: Assets, Liabilities, Equity, Revenue, Cost of Goods Sold and Expenses. Account codes never change. Each row has the code, the name, the chip Inactive or Capitalizable where it applies, and a menu Account actions.
| Menu item | What it does |
|---|---|
| Rename account | Edits the name in place. |
| Reset to the default name for your country | Shown for a seeded account whose name was changed. |
| Add sub-account | Opens Add sub-account under … with Account code and Account name. The sub-account has the type of its parent. |
| Allow capitalizing purchases to this asset account / Stop offering this asset account on purchases | Only for asset accounts. A capitalizable account is offered on purchases. |
| Activate / Deactivate | Switches the account on or off for new bookings. |
| Delete | Deletes the account after a confirmation. |
An account that is in use cannot be changed.