• Income Statement: Recording Income and Expenses
• Accountant: Preparing financial records and compiling the annual financial statements
• Set up open item accounting by performing initial setup, making changes, and maintaining master data for open items
• Posting to Accounts Receivable/Accounts Payable
• Monthly accrual of imputed costs such as imputed interest, rent, depreciation, etc.
• Monthly depreciation of fixed assets
• Monthly accrual of annual expenses such as annual insurance premiums and 13th-month salaries
• Monthly accrual entries for loans (discount, loan interest, etc.)
• additional monthly accruals, such as provisions
• Sending the data to the DATEV data center for archiving

Depending on the agreed frequency, we will provide you with the desired financial statements on a monthly, weekly, quarterly, or annual basis:

• Business analyses (BWAs), optionally including year-over-year comparisons and/or supporting documentation
• Industry comparison for your customized business analysis
• Overview of static liquidity
• Printout of a debt service limit analysis
• Chart showing the short-term income statement and/or year-over-year comparison
• Summary and balance list of all accounts in financial accounting
• Printout of individual accounts from financial accounting
• Supporting documentation for your advance sales tax return
• Value Statement for the Summary Report
• Prinout of open items list
• Printout of a liquidity forecast
• For interim financial reporting, a financial report, a list of fixed asset transactions, and an overview of changes in fixed assets can be provided.
• In the event of a tax audit, the required accounting archive DVD will be created.

Companies can exchange all documents and information, including reports, online via the Internet:

• 24/7 online access to company reports (online document management or online reports)
• Retrieving account transaction history via online banking
• Digitizing documents via online document management
• Setting up electronic invoicing with DATEV eRechnung
• Pre-recording cash journal entries via Kassenbuch online
• Pre-entry of invoices via the Incoming/Outgoing Invoice Register

Delivery of pre-sorted documents (including those generated only once a year) in ring binders, along with all other necessary information (such as internal consumption, shareholder agreements, etc.), and provision of reports, for example:

• via email with encrypted reports in PDF format
• in a face-to-face meeting (on paper)

This requires the use of open-item accounting

• Consulting, setup, and accounts receivable management, including performance monitoring
• Ongoing maintenance of customer master data and accounts receivable
• Generating payment reminder proposals and reminders
• we may send reminders upon the client’s approval
• Balance confirmations (optional at the end of the year)
• Credit check (e.g., customer, business partner)
• Provision of data to DATEV Factoring or collection agencies
• Provision of data to a lawyer, for example, to initiate a court-ordered debt collection proceeding

This requires the use of open-item accounting

• Consulting and setup of payment processing; ongoing maintenance of supplier master data and payment processing
• Generation of payment proposal lists and payment instruments (bank transfers, checks) for supplier invoices
• Generation of direct debit forms for customer invoices (direct debit authorization, debit order)
• Execution of payment orders after approval by the client

• Generating target-actual comparisons based on the client’s budget figures
• Creation of simple annual plans, including target-actual comparisons (planning radar)
• Preparation of detailed rolling annual plans, including mid-year adjustments to the plans and comparisons of actual results against targets (corporate planning)
• Management Report (Profit Planning, Budget Achievement)
• Cash Flow Forecast
• Planning Radar, Planning Report

• Setup, maintenance, and preparation of cost center/cost object accounting
• Allocation to cost centers/cost units
• Consolidation of cost centers/cost units
• Preparation of budget vs. actual comparisons
• Operating statement including prior-year comparison and/or budget vs. actual comparison
• Executive summary for the entire company, including prior-year comparison and/or budget vs. actual comparison, also as a time series

• Preparation of all necessary documents for the bank meeting
• Preliminary consultation to prepare for the bank meeting
• Strengths-and-weaknesses analysis and/or evaluation based on bank criteria
• Support during the bank meeting (if desired)
• Review of alternative financing options (for example, when applying for a loan)

Reports for bank meetings as needed:

• Debt Service Coverage Ratio – Business Analysis
• Liquidity Forecast
• Projected Balance Sheet / Projected Income Statement
• Projections (e.g., for investment projects)
• Expert opinion on prepayment penalty
• Annual: Balance sheet, income statement, maturity schedule
• During the year: Business analysis with supporting documentation, controlling report, trial balance

• Development of company-specific monitoring criteria
• one-time setup
• ongoing evaluation of the test criteria

Even if you handle your own financial accounting, we can offer you valuable assistance:

• Up-to-date information on legal changes
• Support with setting up financial accounting
• Organization of legally compliant electronic invoicing
• Support with questions regarding program handling
• Support with technical questions
• Review of financial accounting for accuracy and plausibility based on random samples
• Making adjustment entries and, if necessary, preparing corrected reports
• Conducting audits following data transfer and preparing a monitoring report
• Support through intra-year controlling with the preparation of a controlling report