How to create a complete e-balance sheet

The e-balance sheet is an electronic version of the traditional balance sheet drawn up by companies. It contains the same information as a conventional balance sheet, but in digital form and in a standardised format.

The aim of the e-balance sheet is to simplify and speed up the preparation and submission of balance sheet data. By using electronic media, companies can submit their balance sheet data to the relevant authorities more quickly and easily, which significantly speeds up financial administration and audit processes.

An e-balance sheet consists of several data blocks containing the key balance sheet items, such as assets, liabilities, income and expenses. These data blocks are stored in a standardised format that can be easily read and processed by the tax authorities and other relevant bodies.

An e-balance sheet must be prepared by companies that meet certain criteria. These include, for example, a company generating a certain level of turnover or employing a certain number of staff. In Germany, companies have been required to prepare an e-balance sheet and submit it to the tax authorities since 2020.

The introduction of the e-balance sheet offers many advantages for businesses and the tax authorities. By using electronic media, companies can submit their balance sheet data to the relevant authorities more quickly and easily, which significantly speeds up the processes of tax administration and audit. Furthermore, the standardised format of the e-balance sheet enables a faster and more accurate analysis of the balance sheet data, which supports the work of the tax authorities.

Overall, the e-balance sheet is an important step towards modern and efficient financial administration. It enables businesses and tax authorities to simplify and speed up their processes, thereby saving time and resources.

The electronic submission of tax profit calculations via the e-balance sheet applies to all financial years from 2012 onwards. This applies to companies that meet certain criteria, such as a specified turnover or a specified number of employees.

The obligation to prepare an e-balance sheet applies to companies that are entered in the commercial register and which, in the previous financial year, had a turnover of more than 250 million euros or total assets of more than 43 million euros. Companies that employed more than 500 staff in the previous financial year are also required to prepare an e-balance sheet and submit it to the tax authorities.

Another group of companies affected by the requirement to prepare an e-balance sheet are those organised as part of a group. In this case, all companies within the group that exceed the above-mentioned turnover and balance sheet total thresholds must prepare an e-balance sheet and submit it to the tax authorities.

However, there are also exceptions to the obligation to prepare an e-balance sheet. These include, for example, companies classified by the tax authorities as „small businesses“ which employ fewer than 250 staff and have a turnover of less than 50 million euros or total assets of less than 43 million euros.

The e-balance sheet does not, for the time being, alter the data and figures required for the annual accounts. However, companies must adapt their profit and loss accounts to the e-balance sheet taxonomy. The XBRL format is mandatory, which is why suitable taxonomy software is essential.

Watch the video to see how to prepare your annual accounts in the correct format using Opti.Tax.

This allows you to prepare your e-balance sheet and your DiFin for your principal bank, and to submit your data to the Federal Gazette – entirely digitally and without any media breaks.

Opti.Tax is a logically structured, user-friendly software programme. You create the e-balance sheet step by step. This means that the programme guides you through the process and ensures that all the necessary information is entered. Opti.Tax’s validation function automatically checks your entries to ensure that there are no logical errors or missing details when the data is submitted.

In addition, Opti.Tax offers various functions to simplify the e-balance sheet process. These include, for example, the automatic import of data from other programmes such as accounting software or Excel spreadsheets. The programme also handles the submission of the e-balance sheet to the tax office seamlessly, saving you time and effort.