With immediate effect, companies must submit their balance sheets to the tax office electronically. For many taxpayers, the additional costs involved are a „black box“: exactly how much will the extra work charged by the tax adviser for this project cost? What other uncertainties might companies face?

An app that takes the work off your hands

To provide decision-makers with guidance and support in their decision-making, hsp GmbH has now launched an app on the App Store℠ and Google Play Store™ that carries out a comparative analysis: How much does it cost to have the e-balance sheet completed in full by a tax adviser, and how much does it cost if the groundwork is done using your own tool?

The E-Bilanz app uses a formula based on experts’ experience to calculate how much time the Electronic balance sheet is expected to consume. This figure is compared with the estimated number of hours worked by a tax adviser. The respective time figures are then combined with a cost factor for man-hours. This makes it clear at a glance what potential savings an in-house software solution offers.

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Specifically, the most labour-intensive part of preparing the e-balance sheet is the mapping process. This involves matching the relevant internal company accounts used for bookkeeping with the tax office’s prescribed taxonomy items.

Long-term savings potential

Mapping accounts therefore offers significant long-term savings potential – something some companies fail to recognise – as many of these mappings are relatively straightforward to carry out. It is also likely that this mapping will be required for the preparation of every e-balance sheet due to changes in taxonomies.
With a certain level of tax expertise, a significant proportion of the mapping can be carried out in-house. This means the tax adviser needs to spend fewer hours on the task – and companies consequently save money.