Record keeping designates the regular, complete, essentially arranged made in numerical values recording of all business operations in an enterprise due to of vouchers. In addition it is the numerical mirror image of an enterprise and important source of information for the entrepreneur and serves for it to follow the legally fixed information requirements of authorities.

A differentiation of the generic term is appropriate "record keeping "into those

• Financial accounting, from the one end-of-year procedure (balance, profit and loss calculation) is developed and
• the operator's logkeeping, which serves in-plant cost registration as well as the prime costs calculation (calculation).

Record keeping is a component of the operational account system. This contains the economical statistics and comparative calculation as well as the cost budget (estimates for future incomes and expenditures) except the financial and the operator's logkeeping.

As synonym for "record keeping "often also bookkeeping is used. That is not always appropriately, there

• in laws mostly the term is used "record keeping ",
• in practice frequently by "bookkeeping "only the organizational unit of an enterprise is understood, in which record keeping is accomplished.

The available article describes the financial accounting and particularly the methodology of double record keeping. This is the generally usual, partially also legally prescribed method to lead duly books. Certain occupational groups like smallmanufacturing can account for however their business also according to the simpler income surplus calculation.

Goal and fields of the financial accounting

• Each-early overview of the financial position and the debt conditions of the enterprise. At least once in the year is to be documented in the balance and proven with an inventory.
• Statement and systematically arranged recording of all procedures, which change net assets and debts.
• Success determination by confrontation of yield and expenditure. Takes place at least once in the year in the profit and loss calculation.
• Supply of the legally prescribed data, in order to supply to the fiscal authorities with the bases for the taxation of the enterprise as well as other at authorities, courts, for being able to make banks or other outside addressees necessary statements in the prescribed form.

Addressee of results from the financial accounting

Enterprise-internal addressees:

• The entrepreneur: It can keep not all transactions in the head. For its commercial decisions it needs constant overview and overview.
• In the enterprise financial source took part: Many enterprises are organized in form of a society. Partners involved demand - constantly or at least periodically - expressive, examinable information about the situation of the enterprise.

External addressees:

• External financial sources - in particular banks
• Creditor
• Tax office
• Employee and their agencies
• Public

By different addressees if different standards for the reporting from the financial accounting (balance, profit and loss calculation, capital river calculation among other things) are required, this requires possibly a parallel record keeping.

Obligation for record keeping

Apart from the self-interest of the entrepreneur there are laws, in which the obligation is fixed for record keeping. To enterprises, which are registered in the trade register, the accounting regulations of the commercial code apply:

Record keeping obligation after commercial law: "§ 238 HGB

Each buyer is obligated to lead and make in these its commercial transactions and the situation of its fortune after the principles of regular record keeping books evident. 

Beyond that manufacturing ones must consider the fiscal regulations of the tax code also without trade register entry:

Record keeping obligation after tax law: "§ 140 and 141 AO

Condition of record keeping

"§ the 238 HGB specifies:

Record keeping must be so constituted that it can arrange within appropriate time an overview of the business transactions and of the situation of the enterprise for an expert third. The business transactions must be able to be pursued in its emergence and completion. 

"An expert third "can be Finanzbeamter, for who in the context of an external examination record keeping controls. In addition, expert third can be a relative or a backer, who wants to convince themselves on the basis the ledgers of the fact that its money is well put on.

In the tax code also these regulations from fiscal view are supplemented. If record keeping does not correspond to the requirements, because documents are e.g. missing, can after "§ 162 the fiscal authority the tax bases estimate.

Principles of regular record keeping

These principles are contained in different laws, result however altogether from proven commercial practice. They can be summarized in the two basic principles truth and clarity.

• Truth in record keeping means that everything must be booked in such a way, as it is really before-pleased. Illusory reservations over procedures, which not actually took place, are forbidden falsifications.
• Clarity means that everything must be clearly, clearly, readably, comprehensible and protected against falsifications.

Voucher obligation

A rule deriving compellingly from the demand for truth and clarity reads that no reservation may take place, without a voucher is present. If the voucher does not develop directly from the business transaction (for example purchase invoice, receipt), is a self-voucher to make (copy of the sales calculation, pay slip, material requisition slip, writing-off voucher,"Â…). During the preparation by self-vouchers it is to be considered from the beginning that they must withstand each revision, particularly also before the tax office. For record keeping documents storage obligations exist.

Organization principles

• Each business transaction is to be seized in a voucher.
• The vouchers are to be seized time near.
• The business transactions are to be systematized.

Reservation principles

The reservations and recordings must

• completely
• correctly
• time-fairly
• arranged and
• understandably its.

Electronic documents must be treated and archived according to the principles of regular data processing-supported record keeping systems. The GOB has special meaning with the balance. The commercial code contains a set of special regulations, which are to be considered here.

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