Frequently asked questions and answers about the GoBD

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What does the abbreviation GoBD stand for?

The abbreviation GoBD stands for "Grundsätze zur ordnungsmäßigen Führung und Aufbewahrung von Büchern, Aufzeichnungen und Unterlagen in elektronischer Form".

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To whom does the GoBD apply?

In principle, the GoBD applies to all companies subject to accounting requirements that handle their accounting with software. However, self-employed persons and small business owners are also subject to GoBD if they use a revenue surplus account.

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What does GoBD-compliant mean?

The GoBD includes various requirements that the managing director must fulfill when storing tax-relevant documents. These are: Unchangeability, completeness, traceability and verifiability, timely posting, Job and accuracy. 

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What must be stored according to the GoBD?

The GoBD applies to all data that is relevant for tax purposes. This includes, among other things, inventories, books, annual financial statements, business and commercial letters, records and accounting vouchers.  

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GoBD stands for "Grundsätze zur ordnungsmäßigen Führung und Aufbewahrung von Büchern, Aufzeichnungen und Unterlagen in elektronischer Form sowie zum Datenzugriff". 

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The background: More and more companies are handling their processes digitally as far as possible and are relying, for example, on a paperless office and Digital Forms. The goal is to record business events clearly and comprehensibly - also digitally. The taxpayer alone is responsible for the correct execution of the GoBD. This also applies if work such as bookkeeping is outsourced to third parties. In any case, the managing director is responsible when it comes to complying with the GoBD. 

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Which documents are affected by the GoBD?

The GoBD concerns all documents that are relevant for tax purposes. These include according to § 147 para. 1 AO:

• Books
• Records
• Inventories
• Financial statements
• Business and commercial letters
• Accounting documents

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• Financial accounting
• Payroll
• Cost accounting
• Bank accounts
• Asset Accounting
• Accounting documents
• Data from cash register ^systems2

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GoBD-compliant work - the requirements

The GoBD sets six general requirements for companies. They set the framework for GoBD-compliant operations. 

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So that the person auditing your accounting can understand all the requirements, there is the so-called procedural documentation. This specifies how data and documents are to be recorded, posted, stored and "disposed of". The procedural documentation is intended to ensure that all requirements for recording, posting, processing, storing and disposing of data and documents are met. Your auditor must be able to comprehend all processes and procedures in a short time through your procedural documentation. 

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Components of the procedural documentation

Four components are part of GoBD-compliant procedural documentation. Each component comprises separate sub-areas that must be documented. Important: The procedural documentation must be up-to-date at all times^.4‍

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General description

Documented:

• Legal framework
• Data storage location
• Outsourcing
• Tasks of the employees‍

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‍User documentation

How are the EDP or IT systems used correctly?

• Process description
• Work instructions
• Training
• Administration

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Operating documentation

How is your IT security ensured?

• Operation monitoring
• Data backup
• Change Management

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Technical system documentation

Which digital systems are used?

• Software
• Hardware
• System configuration
• Integrations
• Privacy

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In accordance with the GoBD, invoices must be archived in an unchangeable form. Word or Excel do not offer this function. Sending invoices in this format is therefore not GoBD-compliant. Converting to PDF format does not solve this problem either. In addition, if invoices are saved on a PC that does not document changes in the file system, problems are inevitable. 

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The easiest way to solve this problem is to use suitable software that creates and stores your invoices in a GoBD-compliant manner. If you still want to create your invoices with Word, you can do that: However, the resulting files must be transferred to a DMS (document management system), which must be GoBD-compliant^.5

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The above-mentioned principles of the GoBD also apply to archiving. This results in the following requirements:

• All relevant records must be kept in a filing system with indexing.
• The documents must be unchangeable, legible and machine-readable. Changes must be logged. 
• Hardware and software must be protected against attacks.
• Documents generated in data processing systems as well as electronic commercial and business letters must be kept in the original^.6
• Paper documents can be destroyed if proper electronic archiving is ensured.
• Documents must be retained in accordance with the retention requirement in § 147

be retained for ten years.

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GoBD-compliant software must meet several requirements. Probably the most important: data storage on dedicated servers in Germany in compliance with data protection rules. In addition:

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GoBD-compliant work - sounds complicated? It doesn't have to be. With the Meisterwerk app, you can do it easily and in one place. Whether it's Jobs or information for your employees: The Meisterwerk App Organises your digital office with just one click. Manage processes, Jobs and deadlines without losing sight of what is most important to you: Your craft. 

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The information in this article does not constitute legal advice. Despite careful research, we cannot guarantee completeness, accuracy and timeliness, especially for legal information. If you need legal help, please contact a lawyer.

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