Bookkeeping for sole proprietorships: rules and deadlines
Updated June 4, 2026
Everyone running a sole proprietorship has a bookkeeping obligation and must document income and costs. Below NOK 50,000 in turnover you don’t need full accounts, but above the threshold you must keep accounts under the Bookkeeping Act and file a business specification with your tax return.
Do sole proprietorships have to keep accounts?
Yes — all business activity is subject to bookkeeping. In practice the requirement depends on turnover: below NOK 50,000 a year you don’t need full accounts, but you must still document income and costs and keep all vouchers.
Once you pass NOK 50,000 you must keep accounts under the Bookkeeping Act and file a business specification (næringsspesifikasjon) with your tax return.
What must you keep?
You must keep vouchers, invoices, bank statements and other accounting documentation for five years after the end of the financial year, accessible in Norway. Outgoing invoices must be numbered sequentially without gaps.
Deadlines
Self-employed individuals file the tax return with the business specification by 31 May. If you’re VAT-registered, the VAT return is filed separately on its own terms.
A sole proprietorship does not submit an A-melding unless it has employees, and the owner does not pay themselves a salary.
Do I need accounting software?
With fewer than 600 vouchers a year you may use a spreadsheet template, but since 2023 sole proprietorships must also use accounting software to file the tax return. Software reduces errors, keeps VAT rates current and automates much of the work.
Kantax is built so you can do the books yourself without an accounting background — invoicing, AI receipt extraction, VAT and reports in one place.