Accounting

Budget management for SMEs: Is self-build the better solution?

Budget management for SMEs: Is self-build the better solution?

When it comes to budget management for SMEs, many entrepreneurs are faced with a crucial question: is DIY ("do it yourself") the better solution? In times when every euro counts, it can be tempting to rely on home-made solutions. But is this really the right way to go? Let's take a look together. Firstly, it's important to understand that when it comes to budgeting for [...]

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E-bill for landlords: Some tips 2025

E-bill for landlords: Some tips 2025

As a landlord, creating e-invoices can be a real challenge - especially if you want to ensure that everything is done correctly and on time. In a world where paper invoices are almost a relic of the past, we need to look at digital solutions that not only save us time and hassle, but also fulfil legal requirements. Did you know that the right e-invoice not only makes your bookkeeping easier, but also

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Headline: Office chaos in data management.

The 10 most common mistakes in accounts payable and how to avoid them

In the world of accounts payable, errors are not only annoying, they can also have significant financial consequences. Many companies face the challenge of organising their accounting processes efficiently while keeping costs under control. Common stumbling blocks in accounts payable management can easily lead to delays, unnecessary expenses and dissatisfied suppliers. It is therefore crucial to recognise the most common mistakes and take appropriate measures to avoid them.

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Financial accountant vs. tax consultant: who needs what?

In the world of financial accounting, there is often confusion about what services a financial accountant and a tax accountant each provide and who actually needs what. Whilst both professions play a central role in finance, their roles and responsibilities differ significantly. This differentiation is particularly important for companies that want to manage their financial obligations efficiently. So let's take a closer look at the differences between a financial accountant and a tax advisor

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10 accounting mistakes that could ruin your business

10 accounting mistakes that could ruin your business

Accounting is the backbone of every company, but it also harbours a number of pitfalls that can cause even the most experienced entrepreneur to falter. A surprising number of companies are confronted with serious accounting errors that not only result in financial losses, but can even jeopardise the existence of the company. In this article, we take a look at the ten most common accounting mistakes to avoid - and how you can ensure

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The secrets of financial accounting: What no accountant will tell you

The secrets of financial accounting: What no accountant will tell you

Financial accounting is a crucial aspect of any business that is often fraught with misunderstanding and uncertainty. It's often the little secrets that accountants don't reveal - secrets that can have a significant impact on a company's financial well-being. If you want to find your way in the world of accounting, you should bear the following important points in mind: The role of financial accounting Financial accounting is the backbone of accounting. It ensures the

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Error-free service charge settlement [how does it work and why is it important?]

Error-free service charge settlement [how does it work and why is it important?]

Property accounting is a central part of property management, and error-free service charge accounting is one of the biggest challenges for property managers. To fulfil the responsibilities of a property manager, it is crucial to implement the right methods and tools to ensure transparency and efficiency in accounting. According to a survey conducted by Statista in 2023, over 60 % of property managers stated that accurate utility bills are crucial for satisfaction.

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System for financial control and asset protection, depicted with coins, money bags and a safe.

Prepaid expenses compared to deferred income: the most important differences

Accruals and deferrals play a crucial role in accounting, especially when it comes to accurately reflecting the economic reality of a company. Accruals and deferrals are fundamentally different from accruals and deferred income. But what exactly does this mean for your company? And why is it so important to understand these differences? Prepaid expenses represent future expenses that have already been paid but will only be recognised as an expense in future periods. These are

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Explanation: Fundamentals of accounting for beginners in financial management.

Bookkeeping for beginners: A comprehensive guide for newcomers

Bookkeeping can seem like a huge maze, especially when you're just starting out. But don't worry. Because every one of us has taken that first step and asked ourselves, "Where do I start?" The world of financial accounting, payroll and bookkeeping can be overwhelming, but with the right guide, it quickly becomes comprehensible. According to numerous studies, companies that manage their accounting efficiently are more likely to be financially successful. But how

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Detailed illustration of financial and management tools, including accounts, calculators and money, symbolising collaboration in the office.

Debit positions in accounting: A comprehensive guide for beginners

The debit position in accounting is a fundamental concept that is of great importance to both managers and experienced financial accountants. It refers to the planned or expected status of accounts at a particular point in time. This information is crucial not only for financial accounting, but also for preparing accurate financial statements and monitoring company finances. A well-structured understanding of the debit position can help you to avoid accounting errors.

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Innovative IT solutions for facility management.

IFRS 16: New rules for leases

IFRS 16, which came into force in January 2019, represents a significant change in the accounting of leases. The standard was developed by the International Accounting Standards Board (IASB) to increase the transparency and comparability of financial reporting. Prior to the introduction of IFRS 16, companies had to distinguish between operating leases and finance leases, which often led to an incomplete presentation of financial obligations. With the new regulation, a

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The best investment properties: how to invest cleverly

Investment properties are investment properties that are acquired primarily for the purpose of generating rental income and capital appreciation. They offer investors several potential advantages: Regular income: By letting, investment properties generate continuous cash flows, typically in the form of monthly or quarterly rental payments. Appreciation potential: Properties can increase in value over the long term, which can lead to capital gains when sold. Tax benefits: Property owners can claim various tax write-offs and deductions, which can reduce the overall tax burden. Inflation protection: Rental prices and

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Property and tenant management for efficient property management.

The most important tasks of a property manager

Letting properties is a central component of professional property management. An efficient letting strategy ensures a continuous cash flow and minimises vacancy periods. The core tasks include the creation of market-oriented exposés, target group-oriented marketing via various media channels and the organisation and implementation of viewing appointments. Careful credit checks on potential tenants and the drafting of legally compliant tenancy agreements are further essential steps in the letting process. Rental pricing is based on a sound market analysis, taking into account factors such as

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The future of municipal operations: Digitalisation and AI in finance

The future of municipal operations: Digitalisation and AI in finance

Digitalisation has played an increasingly important role in the financial management of municipal companies in recent years. Processes can be optimised, costs reduced and transparency increased through the use of digital technologies. The automation of financial processes enables municipal companies to use their resources more efficiently while minimising the error rate. In addition, digitalisation opens up opportunities for innovative business models and services that benefit residents and local businesses. Another important aspect

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VAT obligation for electronic services: What does §2b UStG mean

VAT obligation for electronic services: What does §2b UStG mean

The VAT liability for electronic services in accordance with Section 2b UStG is a central regulation in German tax law. It defines the tax obligations for companies that provide electronic services. Electronic services are digital products and services that are provided via electronic networks. This provision has far-reaching effects on the tax treatment of companies in the digital sector. § Section 2b UStG specifically regulates the VAT liability for legal entities under public law that

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Housing management: tasks and cooperation

Housing management: tasks and cooperation

Flat management is an essential part of property management. It comprises various areas of responsibility that ensure the smooth running of the tenancy between tenants and landlords. The main tasks include the letting of residential units, the billing of operating costs, the maintenance and servicing of the property and communication between all parties involved. Effective property management is characterised by expertise, reliability and transparency. It has in-depth knowledge of tenancy law and ensures the correct management of the property.

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What is GASB 87 Leasing?

What is GASB 87 Leasing?

The new GASB 87 lease accounting standard is a significant change in accounting for government agencies and government organisations. The Governmental Accounting Standards Board (GASB) developed this standard to improve the recognition and presentation of leases in the financial statements of governmental entities. GASB 87 became effective on 15 December 2019 and has a significant impact on the accounting and financial reporting of government entities. The new standard replaces GASB 13 and introduces significant

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