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Is Your SAP System Ready for the New Bookkeeping Act?

The new Bookkeeping Act is designed to support more digital bookkeeping by promoting the use of electronic tools and processes. This includes increased use of electronic invoices, making it easier for companies to store and manage their accounting data. In addition, all companies will eventually be required to use a digital bookkeeping system.

By Patrick Berthelsen, February 2023

SAP system compliance with Denmark's new bookkeeping act – digital accounting tools

What Does This Mean for Your Business?

  1. Electronic Invoices: The new Bookkeeping Act requires that all invoices exchanged between businesses be sent electronically in a standardised format. This will help your company reduce the risk of errors while making invoice management more efficient.
  2. Digital Communication with Authorities: The new Bookkeeping Act requires companies to communicate digitally with public authorities, including the electronic submission of VAT and tax information.
  3.  Accessibility: The new Bookkeeping Act requires all accounting records to be easily accessible to external auditors, ensuring transparency and control throughout the accounting process.
  4. Retention Requirements and Backup: The new Bookkeeping Act requires all accounting records to be stored and securely backed up for a period of five years. As a result, companies will face increased requirements regarding the volume of data that must be stored digitally.
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Patrick-Berthelsen-1.jpgPatrick Berthelsen – Consultant, ERP Finance at SOA People
Patrick Berthelsen

Senior Consultant & Graduate Lead, ERP - Finance

Katrine Meier - Director of ServiceCenter & Payroll Services at SOA People Nordic, SAP partner in Denmark
Katrine Meier

Director of ServiceCenter & Payroll Services

Contact our SAP Service to get started with digital bookkeeping in SAP

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