What is a cash book?
A Cash book Do you lead in the form of a digital Cash book as an Excel spreadsheet or using a Cash book software. In it, you lead everyone cash payments to your cash register to submit it to the tax office. These can be cash deposits from customers, but also cash deposits at the bank as well as private deposits and withdrawals.
It is therefore part of balance sheetthat cash income and expenditure is included in the Profit and loss statement flow in. It is transmitted to tax office at the end of the year, as it is Basis of taxation serves.
The books contain the consecutive document number of income and expenditure with the appropriate date or the period of time. In addition to modulus Must the tax rate and the Sales tax amount or input tax amount and the designation the cash movement. In addition, the Actual cash balance registered with the debits-Inventory matches. Cash balance cannot be negative.
What requirements does a cash book have to meet?
A Cash book must GoBD compliant being. That means you must seamless, therefore entirely, document all cash payments in such a way that they cannot be changed retrospectively. The supporting documents must therefore properly be. In addition, supporting documents must Stored for 10 years become and for third parties verifiable and comprehensible, therefore uncluttered, be.
Bookings must promptly, means at the end of the day, to be done. At the end of the day, a cash report is therefore prepared. Cash accounting is continuous, which means that the Initial cash balance is determined as well as the Final cash balance, which represents the initial inventory on the following day.
Digitally or on paper?
Since cash books must comply with the GoBD, they comply in the form of Excel spreadsheets not the requirement of immutability and verifiability, because you could change the entries afterwards. In that case, you must Print out cash books on an additional daily basis. A better alternative is a digital cash book. If you keep a cash book without being required to do so, you can of course also do that with Excel.
It is still allowed to cash books handwritten to manage and work with open cash registers. However, this makes tax audit more difficult. An electronic cash registers Are there certain requirements such as technical safety device. This TSE module automatically creates digital signatures for each individual transaction so that the documents cannot be changed afterwards.
The reason for this rule is the frequent scams with cash registers and cash books. If the tax office notices discrepancies, there is also a risk estimations and Tax back payments. With digital POS solutions Should you make sure that the GoBD compliant software is.
Who needs to keep a cash book?
Die duty for the management of Cash books exists for all companies that also double bookkeeping are committed. That determines that Commercial Code for the respective legal form. Excluded from this are therefore freelancers and sole traders, which the Profit and turnover limits do not exceed. These amount to 80,000 euros and 800,000 euros per year. Auch partnerships Like the GbR And the Partner company Just need one income surplus statement create if they're not in commercial register are registered. Only when they exceed the profit and turnover limits are they required to keep cash books.
A basic requirement is that your company deals with cash payments. If you are not required to keep cash books, the receipts for cash income and withdrawals are subject to a storage requirement of at least 10 years. Even if the obligation does not apply to your company, it is useful to have a cash book to keep track of all finances.
