Following a training with the SME portfolio? Here’s how to book it in PIA Go!

The SME portfolio: how it works

The SME portfolio is a subsidy scheme from the Flemish government that allows entrepreneurs to purchase training and advice at a lower cost.

Here’s how it works:

• You pay 60% of your training to a provider that manages SME portfolio subsidies, such as Sodexo
• The provider adds 40% as a subsidy and transfers the full amount to the training provider

It sounds simple, but from an accounting perspective there are a few things to keep in mind. Below, we walk you through them.

Booking your SME portfolio correctly in 4 steps

STEP 1

Create a virtual SME portfolio account

To keep things clear, start by creating a separate “account” for your SME portfolio in PIA Go!:

1

1. Go to ‘Settings > Account settings’

2

2. Click ‘Add account’

3

3. Enter the name ‘SME portfolio’

4

4. Save

You’ll use this virtual account to track the SME portfolio cash flows, even though you don’t have a separate bank account.

STEP 2

Book the full invoice as a purchase

Next, book the invoice from your service provider (e.g. the training institute) as a regular purchase:

1

1. Go to ‘Purchases > New purchase’

2

2. Enter all invoice details, including the full invoice amount

3

3. Choose the correct VAT category (usually 0% or 21%, depending on the service)

4

4. Save the purchase

At this point, leave the payment open.
You’ll process it in step 4.

STEP 3

Register the subsidy as a ‘sale’

Now comes the special part: you record the subsidy as a “sale”, even though it’s technically not one.

1

1. Go to ‘Sales > New sale’

2

2. Select ‘Private individual or entity without VAT number’ as customer type

3

3. Enter ‘SME portfolio’ as the name

4

4. Enter the subsidy amount

5

5. Select 0% VAT

6

6. Tick that this sale should NOT be included in the VAT return

7

7. Choose the ‘SME portfolio’ account under ‘Paid on’

This ensures the subsidy is correctly recorded as income, without affecting your VAT return.

STEP 4

Process the payments

Book your own contribution as a transfer:

• Go to ‘Payments > Transfer between accounts’
• Select your business account as ‘From account’
• Select the ‘SME portfolio’ account as ‘To account’
• Enter your contribution amount

Process the payment of the full invoice:

• Go to your purchase overview
• Find the invoice and click on its status
• Select ‘Paid from’ → SME portfolio account
• Enter the full invoice amount

Voilà! Both the subsidy and your own contribution are now correctly recorded, and your bookkeeping is fully in order.

PIA Go! makes subsidies simple

At PIA Go!, we know that subsidies are extremely valuable for entrepreneurs, but their administrative processing can be complex.

That’s why our digital accounting solution is designed to handle these situations smoothly and correctly. And if you still have questions? Our experts are happy to help.