What are the requirements for an electronic balance sheet?
November 17, 2022 | 40,00 EUR | answered by Alice Heck
Dear tax advisor,
My name is Sofia Schneider and I have a question regarding the requirements for an E-balance. I run a medium-sized company and am close to completing my fiscal year. So far, I have prepared my balance sheet in paper form, but I have been advised to switch to an E-balance.
My current situation is that I have no experience with creating an E-balance and I am unsure of the requirements that need to be met. I am worried that I may not know all the necessary steps and could make mistakes in creating the E-balance.
Therefore, my question to you is: What specific requirements does my company need to meet in order to create an E-balance? Is there specific software that I need? What data needs to be transmitted in what form? And how can I ensure that my E-balance complies with legal requirements?
I would be very grateful if you could help me with this and provide possible solutions to successfully implement the creation of my E-balance.
Thank you in advance for your support.
Sincerely,
Sofia Schneider
Dear Mrs. Schneider,
Thank you for your inquiry regarding the requirements for an E-balance. It is understandable that you may feel uncertain if you have no previous experience with creating an E-balance. I will now explain in detail what requirements your company must meet in order to create an E-balance.
An E-balance is an electronic transmission of the annual financial statements to the tax office. In order to create an E-balance, you first need appropriate software that supports the creation and transmission of the E-balance. There are various software solutions on the market that are specifically designed for creating E-balances. It is important that the software meets the requirements of the tax authorities and can transmit the data in the format required by the tax authorities.
Furthermore, the data contained in the E-balance must be complete and correct. This includes, among other things, the balance sheet, the income statement, attachments, and other information that is legally required. It is important that all information meets the legal requirements and does not contain any errors, as this could lead to problems with the tax office.
To ensure that your E-balance meets the legal requirements, I recommend seeking support from an experienced tax advisor. A tax advisor can help you not only with selecting the right software but also with the correct creation and transmission of the E-balance. In addition, a tax advisor can ensure that all legal regulations are complied with and potential errors are avoided.
In conclusion, I would like to emphasize that transitioning to an E-balance can be a wise decision, as it is not only more efficient but also facilitates data exchange with the tax office. If you have any further questions or need assistance with creating your E-balance, I am at your disposal.
I hope that this information has been helpful to you and wish you success in creating your E-balance.
Sincerely,
Alice Heck
Tax advisor
