New Bookkeeping Act package

Get ready for the new Bookkeeping Act

Digital bookkeeping of the future – with the new Danish Bookkeeping Act, it has been decided that bookkeeping will be digital in the future. For you, this means that physical receipts, invoices or bookkeeping in Excel are coming to an end. Instead, the future for everyone will be a digital accounting programme that supports digital storage of all documents. Currently, the requirements for digital accounting start from July 2024 and will unfold over a period of several years.

Requirements for describing bookkeeping procedures
One requirement that has already come into force that companies must comply with is a description of your company’s bookkeeping procedures. According to the Danish Business Authority 2022, section 6 of the Bookkeeping Act is described as follows: ‘Companies that are required to submit an annual report under § 3, subsection 1, of the Danish Financial Statements Act, or where the net turnover in two consecutive income years exceeds DKK 300,000, must, taking into account § 5, subsection 2, prepare a description of:

The company's procedures to ensure that all company transactions are continuously recorded;
The company's procedures to ensure that the company's accounting documents, according to § 4, subsections 2 and 4-7, are stored in a satisfactory manner; and
Which employees are responsible for the procedures under no. 1 and 2."

Therefore – if you’re an established business and you haven’t already prepared a description of your company’s bookkeeping procedures, it’s a good idea to do so as soon as possible to avoid
a possible fine.

If you can’t manage the task or don’t have the time to familiarise yourself with the transactions, procedures and how to prepare the bookkeeping description, Advitime can help you. We know exactly what it takes and can get the description in place for you as soon as possible.

The price is only DKK 4,950 excluding VAT for accounting classes A and B.
Contact us to hear more.