Examples of bookkeeping
Below are some examples of how to record various business transactions. The accounts are selected from the BAS chart of accounts.
Bookkeeping example 1 – Purchase of office supplies with debit card
You purchase various office supplies for 500 SEK including VAT for the company. The VAT amount is 100 SEK. You pay directly at the time of purchase using the company’s debit card.
| BAS account | Debit | Credit |
|---|---|---|
| 1930 Business account | 500 SEK | |
| 2640 Input VAT | 100 SEK | |
| 6110 Office supplies | 400 SEK | |
| Same total | 500 SEK | 500 SEK |
Bookkeeping example 2 – Purchase by invoice using the invoicing method
You have purchased goods for 500 SEK including VAT for resale in your shop. The VAT amount is 100 SEK.
You have received an invoice that is due for payment in 30 days.
| BAS account | Debit | Credit |
|---|---|---|
| 2440 Accounts payable | 500 SEK | |
| 2640 Input VAT | 100 SEK | |
| 4010 Purchase of goods | 400 SEK | |
| Same total | 500 SEK | 500 SEK |
30 days later payment:
| BAS account | Debit | Credit |
|---|---|---|
| 1930 Business account | 500 SEK | |
| 2440 Accounts payable | 500 SEK | |
| Same total | 500 SEK | 500 SEK |
Bookkeeping example 3 – Purchase by invoice using cash method
You have purchased goods for 500 SEK including VAT for resale in your shop. The VAT amount is 100 SEK.
You have received an invoice that is now due for payment. You pay it from your bank account.
| BAS account | Debit | Credit |
|---|---|---|
| 1930 Business account | 500 SEK | |
| 2640 Input VAT | 100 SEK | |
| 4010 Purchase of goods | 400 SEK | |
| Same total | 500 SEK | 500 SEK |
Bookkeeping example 4 – Sold service paid via Swish
You have sold a service for 5,000 SEK including VAT, and the customer pays directly via Swish. You receive 5,000 SEK into the company’s bank account. Your revenue is 4,000 SEK and the VAT amount is 1,000 SEK (25%).
| BAS account | Debit | Credit |
|---|---|---|
| 1930 Business account | 5000 SEK | |
| 3010 Service sales | 4000 SEK | |
| 2610 Output VAT | 1000 SEK | |
| Same total | 5000 SEK | 5000 SEK |
Bookkeeping example 5 – Sold service by invoice using invoicing method
The invoicing method means that the invoice is recorded as an account receivable when it is issued, and the VAT is reported at the same time.
Service sales in Sweden are normally recorded in account 3010, and VAT in account 2610. Check your chart of accounts for confirmation.
| BAS account | Debit | Credit |
|---|---|---|
| 1510 Accounts receivable | 7500 SEK | |
| 3010 Service sales | 6000 SEK | |
| 2610 Output VAT | 1500 SEK | |
| Same total | 7500 SEK | 7500 SEK |
When the customer pays
The customer pays into the company’s bank account. When the payment is received, it is recorded to the bank account and the account receivable is cleared.
| BAS account | Debit | Credit |
|---|---|---|
| 1910 Business account | 7500 SEK | |
| 1510 Accounts receivable | 7500 SEK | |
| Same total | 7500 SEK | 7500 SEK |
Bookkeeping example 6 – Sold service by invoice using cash method
You have sold a service to a customer and issued an invoice for 7,500 SEK including VAT.
Your revenue is 6,000 SEK and the VAT amount is 1,500 SEK (25%).
When the customer pays the invoice
30 days later, the customer pays the invoice to the company’s bank account. When the payment is received, the revenue and VAT are recorded. Service sales in Sweden are normally recorded in account 3010, and VAT in account 2610. Check your chart of accounts for confirmation.
The cash method means that the sale is recorded when the customer pays the invoice, and the VAT is reported at the same time.
| BAS account | Debit | Credit |
|---|---|---|
| 1910 Business account | 7500 SEK | |
| 3010 Service sales | 6000 SEK | |
| 2610 Output VAT | 1500 SEK | |
| Same total | 7 500 SEK | 7 500 SEK |