New accounting law means requirements for digital accounting

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We help companies to transform their traditional accounting management into a statutory digital solution.

THE WAY YOU KEEP YOUR ACCOUNTING MATERIAL CHANGED FROM 2023

As of January 1, 2023, many companies will be digitizing their accounting. This is the consequence of the new forthcoming Accounting Act and amendments to the Annual Accounts Act. These are of great importance to many companies, which right now do not store the accounting material digitally. Some of the essential things that will be required by the coming law are:

  • Requirements for digital storage of the accounting material and a backup copy thereof. However, the requirement does not apply to companies with personal liability with net turnover, which in the last two recent income years has not exceeded DKK 300,000.

  • Simplified requirements for companies' description of their procedures for recording transactions and storing accounting material. Likewise, the registrations in the accounting must refer to the associated appendices. At the same time, there are requirements for control tracks that document the accuracy of the registrations.

  • The definition of accounting material is extended to include documentation of factual information in the management's report in the company's annual report.

  • Introduction of a significantly increased level of fines with the possibility of fines up to DKK 1.5 million, if the company can neither make the original, digital accounting material nor the digital backup available to authorities that have authority to inspect it.

Navidoc solutions can help you digitize your posting material:

  • Navidoc Workflow - for handling and storing supplier invoices and financial documents

  • Navidoc Expense – til håndtering af firmakort og privat udlægskvitteringer

  • MIleage - for handling mileage billing for employees

  • Time – til håndtering af alle medarbejderes timesedler

  • Banking - Makes electronic payments easier

  • Contract - Digitize all your contracts and agreements in the company

Every day, there are over 3500 companies using the benefits of Navidoc. Become a part of the optimization and free the labor to your core competencies.