Rules and regulations such as the GoBD sometimes make even outgoing invoices a challenge. Accounting software can help.
That it can be a challenge to process incoming invoices GoBD compliant, we have developed a this contribution shown. But even those who write invoices must fulfil certain formal and content-related requirements. These are the same for digital and paper invoices. So the challenges remain the same. The difference: for digital invoices, there is software assistance that facilitates the management of outgoing invoices. Instead of laboriously developing their own processes for invoicing, proven processes are used in the systems. These not only fulfil the GoBD requirements in the broadest sense, but can even automate the processes to some extent.
GoBD requirements for outgoing invoices
Nevertheless, here are a few requirements that must be met manually and by the software in any case:
- Voucher system: Receipts and bookings must be identifiable and secured. A Accounting software usually provides a suitable integrated function here.
- Journal and account log: The timely and continuous booking of all business transactions is still mandatory for invoicing. This also includes split bookings or reversals.
- Internal control system: Data protection, access authorisations, separation of functions, as well as reconciliation controls must be guaranteed according to the GoBD. With exceptions, as the GoBD itself notes: 'the concrete design [...] depends on the complexity and diversification of the business activity' (GoBD point 6 RZ 100).Software is a great helper here, since regulations of the system can be easily introduced and transferred for all. However, particularly important for the software solution: the Data backup. Certified and German storage (systems as well as cloud) is more recommended. The ten-year retention period also applies digitally.
- Immutability and log of changes: Outgoing invoices must be stored in their original form and every change logged. A good example where a system works automatically and shows when, who, changed what.
- Traceability of the processes: Every settlement management must record its procedure in a comprehensible way. As a rule, this is especially important for the tax office. Data access must be set up in the software.
As already mentioned, many of the required functions can be integrated in a Accounting software automated. For example, invoice data is already created in the system. This avoids errors and makes the processes more transparent and efficient. Data such as orders, prices, invoice items, customer addresses, tax numbers, payment terms, performance data etc. are already stored. The user can send out an invoice with a few clicks and the system creates an open item until payment is received. This is then (through a integration from online banking) is registered and accepted independently.
All changes are documented by the system itself. Good ERP systems also ensure the continuous up-to-dateness of the requirements presupposed by the GoBD.
More information to the GoBD.