Proper Cash Management


Due to constantly growing requirements, proper cash management has become an increasingly difficult task.
This is particularly important when cash transactions represent a significant proportion of business. For this reason, it is important to be familiar with the principles for proper bookkeeping and storage of books, records, and documents in electronic form as well as for data access (as required by the regulations to the GoBD) and to apply these in a legally compliant manner.

Furthermore, new requirements for cash register systems will come into effect on January 1, 2017. The relief previously granted in a letter from the BMF dated January 9, 1996, will expire on December 31, 2016, meaning that all “cash register data (individual records)” must be recorded in an uncompressed and unchangeable electronic format and archived for the entire storage period so that they can be read digitally at any time, with effect from January 1, 2017.

Furthermore, draft legislation in place since July 2016 calls for additional stricter measures with effect from January 1, 2020. For example, electronic record systems will have to include certified security technology from January 1, 2020. The technical requirements for this security system still need to be defined: at present there are no POS systems that meet the requirements of the planned certification process.
The more stringent requirements coming into effect on January 1, 2017, apply regardless of the draft legislation. If an entrepreneur procures a new cash register due to the more stringent requirements coming into effect on January 1, 2017, and for design reasons this equipment cannot be upgraded to include the required certified security technology as of January 1, 2020, the cash register may not be used after December 31, 2022.
Taxpayers should definitely discuss the organization of their cash management system and the nature of their records with their tax consultants. This includes in particular the storage of cash register data when using electronic POS systems.

For the free pdf-brochure „Proper Cash Management“ send an email to


Über Sibille Decker

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