Commit up in the accounts and especially in the principles for the proper maintenance and preservation of books, records and documents in electronic form, short and just GoBD called an important role. In the following article you will find out everything you need to know as an entrepreneur on the subject of consolidation or consolidation in accounting . The fixing is simply very important in many areas, also with regard to the problem of fixing invoices.
What is a commitment?
According to WHICHEVERHEALTH, the term commitment can have several meanings and a commitment by definition can cover several subject areas. First and foremost, the commitment has a meaning that is related to the commitment. About as much as stipulating something in a binding contract or order .
For example, a paragraph in a code of law is stipulated or you, as an entrepreneur, give your employees goals that you have set for the new financial year as a stipulation . For each of these types of commitment there is a definition for a specific area. Words such as determination, definition or stipulation can be used as a definition of synonym .
Establishment in the bookkeeping
In the event of a possible tax audit in your company, a tax auditor will take a particularly close look at and check your accounting. He will take a close look if you put your accounting records laid down have and when that is done accurately.
For proper bookkeeping, it is essential to keep records, especially for electronic bookkeeping . In earlier times, without any IT, numbers had to be entered in the journal with a ballpoint pen. Entries made in pencil were not permitted.
Pencil and pen have been forgotten today, but not the fact that you have to write down your booking records. It is not permitted that you can change these booking records over a longer period of time without the reason being apparent. Incidentally, this is also the reason why bookkeeping in Excel is prohibited. Here you would have the opportunity to change entries there at any time and would not leave any “traces”.
Therefore, it is very important for you as an entrepreneur that you write down your booking rates and each position every month. If you do not do this and this is noticed during a possible tax audit, the auditor will classify your bookkeeping as improper.
Important: If your bookkeeping is done for you by a tax advisor, you have to consider a few points with regard to a DATEV interface, for example.
- You have to clarify with your tax advisor whether you are making your so-called booking batch before the data is exchanged.
- If a booking batch is imported, it is automatically released by DATEV, provided that no free write indicator is transferred. Specifically, this means for you that in this case you can no longer make any changes. If you do not want this, you have to cancel the DATEV free entry . To do this, a change in the fixed entry indicator is necessary. Specifically, this means that you can cancel the activation of any DATEV booking batch. You can undo a DATEV activation.
Establishment according to GoBD
The stipulation in financial accounting is very closely related to GoBD, the principles for the proper management and storage of books, records and documents in electronic form as well as data access. When it comes to the GoBD regulation, you as an entrepreneur are required to record all tax-relevant data in a timely manner.
The timely information refers to a period of time up to the end of the following month for these data. For you, this clearly means in the normal case and correct compliance with the GoBD stipulations that you have to write something down in your accounting at the latest when the monthly advance VAT return is sent to the tax office. Under codification in the financial accounting , the legislature understands that for him all changes completely understand and are not deleted was.
Experts such as tax consultants and auditors advise every company that a declaration should be made as early as possible.
If you use an accounting tool, you can also automatically create invoices there . As a rule, these are created as drafts, depending on the program. But this also means that your invoices do not have a consecutive number. To get this you need to put the bills in writing. Depending on the setting, this is usually done with software during the automatic creation directly during the process.
Once you have recorded your invoices, they are safe and secure from being processed again. Specifically, this means that you can no longer delete the invoice. This is also expected from proper bookkeeping . You also have the option of subsequently correcting your fixed invoices in other ways . For example, you can create a cancellation for an invoice and generate a new invoice after a cancellation.
The subject of codification is an important issue in many areas. Below are a few examples on this topic.
- Fixed annuity: For each year of pension, the part that is considered to be the tax-free part of the pension is permanently fixed . This allowance is determined before the pension is drawn for the first time and it does not change from the first year of full pension drawing. However, it is only fixed in the year following the first drawing of the pension.
- Tax deposit account: According to § 27 KStG , a corporation must keep a tax deposit account. This is intended to ensure that shareholders’ contributions made by the shareholders of a corporation can be separated from the profits they have generated themselves. The holdings of a tax deposit account are subject to lock-in.
- Age relief amount Fixed: The age relief amount is an exemption that is deducted when calculating income tax . This retirement benefit is granted to anyone who has reached the age of 64 before the start of a calendar year.
- Fixed prices: Fixed prices are also generally referred to as fixed prices . This is always the case when a seller is bound to a certain price by a contract or a legal regulation. Very often this method is used to prevent price competition.
In summary, it can be said that codification is an important topic in many areas. A definition goes hand in hand with synonyms such as determination, definition or stipulation, to name just a few examples. However, the subject of consolidation also plays an important role in bookkeeping. It is an indispensable element of the GoBD and must be observed.