The basics of the GoBD
The GoBD includes a large number of requirements designed to ensure that bookkeeping is proper and unalterable. This applies to both the actual bookkeeping and the storage of the corresponding data. An essential component is the Process documentation, which describes in detail how the accounting processes work and how the data is managed.
Every taxable company in Germany, regardless of its size, must fulfil these requirements. This applies to both sole proprietorships and large groups such as DAX-listed companies.
Challenges for companies
The GoBD represents a major challenge for many companies, particularly with regard to data access rights. The tax authorities have the right to access and check the stored data. This requires the data to remain available and readable for the entire legally prescribed retention period.
However, many IT systems are not designed to provide the data in the required manner. For example, there is often a lack of appropriate Export interfacesthat can export the data in accordance with the requirements of the GoBD. It can also happen that the data is not available for the entire retention period, which can lead to problems during tax audits.
The importance of procedural documentation
Another key element of the GoBD is procedural documentation. Many companies find it difficult to create and maintain this properly. However, procedural documentation is essential in order to ensure that the accounting and the handling of the data in a comprehensible manner. It serves to make the process of data collection, processing and storage transparent and to demonstrate compliance with the GoBD.
15 criteria for GoBD-compliant software
The following checklist explains the key requirements that software should fulfil in order to comply with the GoBD guidelines.
1. safe storage
The data is stored on specially assigned servers in Germany, which are subject to German data protection regulations. Digital receipts and documents remain unchanged for the entire retention period.
2. immutability
Once a document has been uploaded, it remains in its original state and is saved with a complete version history. This makes it possible to track which changes have been made at any time.
3. captivity
Authorisation settings ensure that uploaded documents and electronic information can no longer be deleted. This measure protects against data loss and unwanted manipulation.
4. completeness
Documents are linked directly to the respective business transaction. E-mails and documents of a commercial letter nature are automatically linked to the transaction via Office integration or e-mail agencies.
5. traceability
All processing steps are fully documented in the software - from the creation of a transaction to the final posting. This means that every action remains transparent and traceable.
6. findability
A quick full-text search and Drill-down functions make it possible to find any information quickly. These functions significantly increase efficiency in day-to-day work.
7th order
Documents are clearly identifiable and organised in the system. This organisation makes it easier to access and manage the data.
8 Timely recording
As soon as receipts have been uploaded from the scanner or smartphone camera to the software, they are deemed to have been recorded. Mobile apps also support processing on the move.
9 Timely booking
Account assignment assistants and the posting-relevant information documented in the process allow postings to be completed more quickly. If a specialist is unavailable, a deputy with the appropriate access rights can quickly step in.
10. daily cash management
The document justifying the posting is immediately assigned to each cash movement. This ensures that cash management is always up-to-date and correct.
11. ability to cash in at any timet
The target stock of Checkout can be called up from the software at the click of a mouse. This makes it easier to control and check cash balances.
12. machine analysability
Comprehensive reporting functions provide all the relevant information that auditors need in real time. These analyses make it easier to prepare for inspections and audits.
13. data access by the tax authorities
In the event of a tax audit, the tax authorities receive the required data access. Different types of access or an IDEAGDPdU-export are quickly set up.
14 Internal control system
Authorisation settings are used to define and document the separation of functions in the system. These settings support any checks and secure internal processes.
15. procedural documentation
The procedural documentation required by the GoBD is provided by WorkflowsThe system also supports the definition of responsibilities and the digital logging of all processing steps.
Five myths about GoBD and the digital storage of documents
When it comes to the digital archiving of documents, there are many misconceptions circulating. These myths can prevent companies from fully realising the benefits of digital transformation. Let us clear up the five most common myths surrounding GoBD and digital document storage.
Myth 1: Documents are stored digitally
It is a common misconception that documents that are stored digitally in a document management system (DMS) are automatically considered originals. This is wrong. In fact, tax authorities accept copies as sufficient proof that an original existed. Whether you store a document in paper form or digitally is irrelevant. However, there are certain documents that should still be kept in paper form in order to preserve their originality. These include financial statements, contracts and notarised deeds. However, documents received electronically, such as invoices in PDF format, can be archived directly in the DMS as originals.
Myth 2: Paper documents no longer need to be stored
Although you no longer have to keep most paper documents, there are exceptions. Notarised deeds, financial statements, contracts and customs documents must be available in the original in case an auditor requests them. It is important that companies know which documents must still be physically stored in order to be prepared for audits.
Myth 3: Original documents required
This myth is partially correct. Auditors may require you to submit original documents if the digital copies are incomplete or illegible. It is therefore crucial to carefully check all tax-relevant information during the digitisation process. It is important to ensure that they are fully legible later if required.
Myth 4: Emails must be retained
E-mails are initially a transport medium and do not necessarily have to be archived. If an email only transports an electronic invoice in PDF format, the email itself does not have to be archived. However, if the content of the email is relevant for tax purposes, it must be retained. Furthermore, emails containing business-relevant information such as condition agreements may also be subject to retention.
Myth 5: Digital signatures are required
A digital signature is not necessary for the legality of the filing. It is sufficient to use internal verification and control procedures to ensure the legality of the documents. One example is the factual and mathematical verification of an incoming invoice. As long as all relevant documents, such as purchase orders, Order confirmationsdelivery notes and invoices, document the business transaction without gaps, no digital signature is required
GoBD compliance with SAP Business One: The advantages of module linking
The linking of ERP, CRM and archiving modules in SAP Business One offers several decisive advantages for compliance with GoBD guidelines. SAP Business One enables GoBD-compliant, almost autonomous archiving of all relevant documents, including invoices and tax-relevant emails. A centralised data source reduces sources of error and inconsistencies that can occur in separate systems and significantly improves data quality.
In addition, documents are automatically assigned to the corresponding customers or suppliers, which ensures simple traceability and fulfilment of GoBD requirements. Fast access times and convenient search functions facilitate the provision of information during tax audits. SAP Business One also guarantees the unalterable storage of documents in accordance with GoBD requirements, especially for electronic communication.
Linking the modules optimises processes such as invoice processing and supports GoBD-compliant processing of business transactions. Central data storage and regular backups increase the security of the document inventory and fulfil the GoBD requirements for data security.
Conclusion: GOBD compliance with SAP Business One
Compliance with the GoBD is a significant challenge for many companies. SAP Business One offers a comprehensive solution that enables companies to easily fulfil all GoBD requirements.
E-bill master data and settings in SAP Business One
Moving average price in SAP Business One
SAP Business One - Open items
GOBD and GOBD myths
IFRS & HGB with SAP Business One
