Digitalization of financial accounting: a necessity, not a luxury

The digital processing of information has long shaped our business life. This also applies to internal and external communication. And yet: In financial accounting, paper still plays the main role for many companies.

Does that make sense? Hardly! In fact, the switch to digital incoming invoices offers a whole range of economic advantages.

Particularly in handling, efficiency reserves can be tapped. The subsequent digitalization of paper documents is labor-intensive and costs a correspondingly large amount of money. In some companies, invoices received in electronic form are printed out and filed away in folders.

The responsible businesspeople or managing directors are often not even aware that this is insufficient. At least for the tax office. This is because companies must store digital incoming invoices in an unchanged state. If they do not, their tax office can reject the financial accounting! In other words, you need the technology to store digital incoming invoices one way or the other.

Digital incoming invoices also prove their worth during tax audits. Unlike with paper-based financial accounting, you or your employees do not have to rummage around in the archives for the right folders or sift through them to find the invoice the auditor wants to see. All of this is not only inconvenient, but also time-consuming and expensive. With consistently digitized financial accounting, you simply request the data you need digitally on the computer without any major effort.

You can add further value by arranging with your tax office to scan without substitution. With this process, you can safely destroy the documents after digitalization. You save costs on filing and archiving.

Conclusion: Today, companies need consistently digitized financial accounting if they want to be competitive. The TAXON team also provides comprehensive advice to small and medium-sized companies on which opportunities they have and how they can switch to digital financial accounting. This includes careful planning of organizational changes, structuring of workflows and sound advice on technical requirements. With the help of software solutions such as Simba or DATEV, documents are integrated into the financial accounting program.