The Tax Bureaucracy Reduction Act (SteuBAG) adopted on 19th December 2008 requires all reporting entities to submit e-balance sheets electronically in XBRL format. This obligation shall commence in financial years beginning on or after 31/12/2012 (sec. 52 para. 15a of the Income Tax Act and failure to object acc. letter of application BMF 09/2011).
Therefore, the international trend of production and transmission of electronic balances in the XBRL standard will continue in Germany. Further applications in Germany are the disclosure in the Federal Gazette (Bundesanzeiger) and the reporting system for banks and insurers with the Bundesbank.

Preparation and submission

The ReportFactory specialises in electronic balance sheets. It complements existing financial accounting or tax software for the purpose of the standards-compliant preparation of balance sheets. The submission rules provided by the recipient (plausibility check) are considered.
The creation process of the data collection is supported with user-friendly reporting tools from the preparation to transmission. The individual requirements of the reporting entity can be implemented in the project report through flexible customisation options.



From financial accounting to the submission of an e-balance sheet

kundenThe process of creating e-balance sheets with ReportFactory is outlined in the overview.
An e-balance sheet can either be created as a commercial balance sheet with reconciliation or a tax balance sheet. The tax differences are either captured in the MS Excel documents by being transferred from accounting systems, supplemented by the transfer tool or by using the Excel add-in. A combination of these approaches is also possible!
The creation process begins with the transfer of data from the existing systems; in CSV format or via a web interface.
The balance sheet classification structure can be easily filtered, e.g. by the legal form, by the profit calculation method and by other company characteristics. This reduces the work to be done in the account mapping and other operations to the essentials.

Before transmission, there is a validation of the submission and the visualisation of the
preview of the e-balance sheet data. Then the data can be transmitted to the tax authorities by simply pressing a button.

All submitted e-balance sheets, including the imported data, are archived and in subsequent years the project roll forward assistant ensures the report projects are updated, therefore creating a significantly reduced cost.

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