Where almost all documents had to be entered by hand 20 years ago, digital financial accounting has now found its way. It enables entrepreneurs and tax consultants a time-saving and thus more economical handling of the accounting work usually perceived as “annoying”. At the same time, you as an entrepreneur can react better to upcoming changes because you have all the current figures available in a timely manner.
As a fully digital law firm, we now rely on purely digital and paperless financial accounting for well over 90% of our clients.
What is rare exception today used to be the rule: As an entrepreneur or entrepreneur hand over All documents created and received by your tax office in the current month, finely sorted in the “good old” pendulum or guide binder. All documents collected in this way were then incorporated into the preparation of tax returns, tax declarations and annual accounts. The essential disadvantage of this procedure is obvious. Because it is especially time-consuming, but also prone to error.
Accordingly, digital financial accounting – mainly via DATEV “company online” – is an extremely useful consequence of digitalization. The practical implementation can be divided into four core areas:
This article does not replace tax or legal advice in an individual case. Facts, current law, jurisdiction, documentation and implementation remain decisive.