Established rights in general bookkeeping and budgetary bookkeeping
In general bookkeeping a right is established when "the amount is established in an accurate manner, the debtor's or creditor's identity can be determined, the duty to pay exists and there is documentation of the justification in the hands of the service concerned" in accordance with article 8 of the law of 22 May 2003.
In budgetary bookkeeping a right is created given the temporary commitment with regard to expenditure and establishment of the right with regard to income. Article 7 of the law of 22 May 2003 also specifies that the rights established during a financial year or budget year are to be associated with that year, to the extent that these are booked before 1 February of the following year. Any right established after this date belongs to a subsequent year.
The general bookkeeping applies the structure used in the annual accounts, in order to facilitate classification. It is carried out in accordance with the usual rules of double-entry bookkeeping. It covers all possessions and rights, as well as all kinds of debts, duties and commitments from each bookkeeping entity.
The financial year begins on 1 January and runs through to 31 December, so as to allow the budget and the bookkeeping to run parallel.