Accountancy

What exactly is double-entry bookkeeping? As the name suggests, doppelte Buchführung is the double-entry method of bookkeeping that involves entering each business transaction into two different accounts. Double-entry bookkeeping involves significantly more effort than single-entry bookkeeping, but it also provides more transparency, as discrepancies are much more noticeable. Each transaction is recorded in the debit …

Contents What is an annual financial statement? Why prepare one? Who has to publish one? How to file it? Why does the publishing obligation apply? How are companies classified by size? What are the components? What are the publishing deadlines? Who signs the Jahresabschluss? What are the costs? Want to know?   [BEGIN: Insert an …

Contents Financial peculiarities Double-entry accounting Accounting terms Stay on top of these things Want to learn more? What is a UG (haftungsbeschränkt)? – Definition and facts Registering a GmbH or UG: Here’s how! How to find the perfect company name for your UG or GmbH The gUG (haftungsbeschränkt) – the German non-profit legal form Tax …

Contents What is an advance VAT return? Purpose Who has to submit one?  Exemptions Actual or debit taxation? Small businesses Deadlines Quarterly advance return Monthly advance return Annual VAT return Submitting the VAT return ELSTER certificate Permanent extension Missing deadlines Conclusion   Umsatzsteuervoranmeldung: What exactly is an advance VAT return? The Umsatzsteuervoranmeldung, or UStVA for …

Contents Understanding the basics Mandatory information VAT Creating your first invoice Sending invoices Record keeping Conclusion PDF template   Understanding the basics Before diving into the specifics, let’s cover the basics of an invoice and why it’s crucial for your business. A Rechnung (invoice) in German, is a document that details a transaction between a …

Contents What is Gewerbesteuer (trade tax)? Who has to pay trade tax? Trade tax exemptions Is there a trade tax allowance?  How to pay trade tax How to account for trade tax  The highest trade tax districts The lowest trade tax districts Reducing trade tax Trade tax calculators TLDR: The key facts   What is …