Everything to do with SAP Business One, ERP projects and business software
In a lengthy statement, the German Association of Tax Consultants has commented on the temporary reduction in VAT rates. The content of the text makes it clear that, according to the tax consultants, the change in VAT is (literally) a "bureaucratic super-GAU".
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The reduction in value added tax (VAT) is a measure to mitigate the economic consequences of the coronavirus crisis, which has taken many by surprise. Many companies were probably caught on the wrong foot.
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The GoBD, especially the archiving of documents, has already undergone some changes since January 2020. The principles for the orderly keeping and storage of books, records and documents in electronic form and for data access have been simplified in some areas for companies. We try to provide an overview.
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If a company finds itself in difficult economic waters, the first and foremost task of management is to keep an eye on the cash flow.
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From two-man businesses to large corporations - all companies have one thing in common: the statutory accounting requirements. If you don't carefully comply with the relevant regulations and deadlines, the tax office will be at your door. And that can be an expensive visit. So expensive, in fact, that most companies employ one or more accountants and call in external tax consultants. But an ERP system can also be a good help.
Read MoreThe annual financial statements of a company provide an overall view of all profits and losses of the past financial year. The instrument of company accounting thus provides information about the financial status of a company.
Read MoreIn addition to the balance sheet, the profit and loss account (P&L) is an important report within the annual financial statement of a company.
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A totals and balances list provides a list of all accounts posted within a selected period. It thus includes all accounts with opening and closing balances and account movements.
Read MoreThere are small but significant differences between an invoice on account and a partial invoice. Companies must therefore be careful when handling these invoice types. This affects industries such as plant engineering and construction in particular. It's good to have software to help with this.
Read More Rules and regulations such as the GoBD sometimes make even invoicing a challenge. Accounting software can help
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