Finance

Bookkeeping, financial reports, fixed assets, budgets and foreign currencies in BizCortex. These pages explain every screen of the Finance app, from the chart of accounts to the year end closing.

In this section · 89 pages

• Finance at a glance

  What the Finance app contains, how it is organised and who can use which part.

• Chart of accounts

  View, search, add, edit and archive the general ledger accounts of your company.

• Account ledger

  All postings of one account in a period, with opening balance, running balance and closing balance.

• Journal entries

  The journal of all posted entries, and the detail view of a single entry.

• Draft entries and the journal entry editor

  Prepare entries as drafts, check them, and post them to the ledger one by one or in bulk.

• Posting rules and immutability

  The checks every posting must pass and why posted entries can never be changed.

• Reversing a journal entry

  Correct a posted entry by posting a reversal (Storno) with swapped debit and credit.

• Booking templates

  Save frequent entries as templates and book them again in a few clicks.

• Recurring entries

  Let bookings that repeat regularly, such as rent, be created automatically on their due date.

• Accruals and deferrals

  Spread an expense or income evenly over several months with an automatic monthly release.

• Cost centers and cost objects

  Set up dimensions to analyse bookings by department, project or product.

• Fiscal years

  Create fiscal years with their monthly periods and see their status.

• Locking periods

  Lock finished months so that nobody can post into them anymore.

• Year end closing

  Close the profit and loss accounts, carry the balances forward and lock the year with a guided wizard.

• Opening balances

  Enter the opening balances of your balance sheet accounts when you start with BizCortex.

• Intercompany postings

  Record a booking between two of your companies; it is mirrored automatically in both sets of books.

• Reports: overview, filters and exports

  Open financial reports, filter them, compare periods, drill down and export them as PDF, Excel or CSV.

• Report export formats

  What you get when you export a report as PDF, Excel or CSV.

• Balance sheet

  Assets, equity and liabilities at a reporting date, in the structure of § 266 HGB.

• Profit and loss

  Income, expenses and the result of a period, using the nature of expense method.

• BWA (business analysis)

  A short term income statement in the style of DATEV form 01, month and year to date.

• Trial balance (SuSa)

  Opening values, period and cumulative turnover and the balance of every account, with class subtotals.

• Trial balance

  Opening balance, debit, credit and closing balance per account for a period.

• Cash flow statement

  Cash flow from operating, investing and financing activities, plus the movements of cash and bank accounts.

• Cash basis income statement (EÜR)

  Income minus expenses on a cash basis, mapped to the lines of the German Anlage EÜR.

• General ledger

  Account statements with running balance for one, several or a range of accounts.

• Journal (Primanota)

  All postings of a period in entry number order, with every line.

• Receivables aging

  Open customer invoices by days overdue, per customer and document.

• Payables aging

  Open supplier bills by days overdue, per supplier and document.

• Cost center analysis

  The P&L accounts per cost center or per cost object, as a matrix.

• E Bilanz preview

  Check the electronic balance sheet and P&L for the German tax office before you submit it.

• Banking at a glance

  What the Banking area contains: bank accounts, statement import, reconciliation, rules, SEPA, cash book and bank connections.

• Bank accounts

  Create and manage the bank accounts of your company and see the total balance.

• The bank account page

  See the open lines of one bank account, edit it, fetch transactions, apply rules and open the reconciliation.

• Importing a bank statement

  Upload or paste a statement file; the format is detected, duplicates are skipped and rules run automatically.

• Supported statement formats

  Details for each import format: CSV with automatic columns, CSV with a profile, MT940, CAMT.052, CAMT.053, CAMT.054 and OFX.

• CSV import profiles

  Save the column layout of your bank CSV files so every CSV import is read correctly.

• Reconciling bank transactions

  Match each bank line with an invoice, a bill, a journal entry or an account, using scored suggestions.

• Splitting a bank line and booking to an account

  Spread one bank line over several invoices, bills or accounts, or post it straight to a counter account with VAT.

• Undoing a reconciliation

  Reverse direct postings and remove links of a reconciled bank line.

• Matching rules

  Rules categorise recurring bank lines and can post them to a counter account automatically.

• SEPA direct debit mandates

  Record the mandates your customers signed so you can collect payments by direct debit.

• Creating SEPA credit transfers (pain.001)

  Pay supplier bills and other payees in one bank file.

• Creating SEPA direct debits (pain.008)

  Collect customer invoices by direct debit using your mandates.

• Payment files: download or send to the bank

  Download the SEPA XML or send it to the bank directly with a FinTS TAN.

• Cash book: cash registers

  Set up cash registers for cash income and expenses, kept in line with the German GoBD rules.

• Cash entries, reversals and the daily close

  Record cash income and expenses, correct them by reversal and close each day.

• Bank connections overview

  Connect your bank through FinTS or PSD2 so transactions are fetched automatically.

• Connecting a bank with FinTS

  Set up FinTS with bank code, server, login and PIN, then fetch accounts and transactions.

• TAN and PIN dialogs

  How BizCortex asks for a TAN, a photoTAN, a chipTAN flicker code, an app confirmation or a payee check.

• Connecting a bank with PSD2

  Give read access to accounts, balances and transactions through GoCardless Bank Account Data.

• Linking accounts and daily fetching

  Link bank accounts reported by the bank to BizCortex accounts and fetch new transactions every day.

• Taxes at a glance

  The Taxes area: tax codes, VAT returns, EC sales list, OSS, filing extension, periods, VAT ID checks and settings.

• Tax codes

  View and maintain the VAT codes with their rate, category, return boxes, DATEV key and OSS country.

• German VAT return (UStVA)

  Compute the monthly or quarterly UStVA from your bookings, download it and send it to ELSTER.

• How the UStVA is calculated

  Which postings count, how accrual and cash basis differ, and how box 83 is formed.

• VAT return in other countries

  The national VAT return for companies outside Germany, with boxes, review hints and export files.

• EC sales list (ZM)

  Quarterly list of tax free supplies and services to business customers in other EU countries.

• OSS return

  One Stop Shop report of sales to consumers in other EU countries, per country and rate.

• Filing extension and special prepayment

  Calculate the special prepayment for the German permanent filing extension and post it.

• Tax settings

  Filing extension, special prepayment, VIES default and OSS registration.

• VAT periods

  Close a VAT period to lock the books and optionally post the VAT clearing.

• Checking a VAT ID

  Check the format and check digit of a VAT ID and optionally ask the EU VIES service.

• Qualified VAT ID confirmation (BZSt)

  Get a qualified confirmation of a foreign EU VAT ID from the German Federal Central Tax Office, archived as evidence.

• DATEV export, import and connection

  Hand bookings and receipts to your tax adviser as DATEV files or directly through the DATEV connection, and import DATEV booking batches.

• ELSTER: sending German tax returns

  Create German tax returns as drafts, check them with ERiC and send them to the tax office through ELSTER.

• Exports and imports for authorities and auditors

  Create the statutory audit and VAT files of your country and import accounting data from other software.

• Filings and connections

  One list of everything BizCortex sends to tax offices, networks, banks and your tax adviser, with status, receipt and history, plus the connection settings.

• VERI*FACTU (Spain)

  The tamper proof register of Spanish invoicing records, its hash chain and the submission to the AEAT.

• Asset register

  The list of all fixed assets with cost, accumulated depreciation and book value.

• Creating and editing an asset

  Enter a fixed asset with its cost, useful life, method and accounts.

• Capitalising an asset from a bill

  Turn a line of an approved purchase bill into a fixed asset, with automatic reclassification.

• Asset detail page

  Overview, depreciation schedule, disposals and history of one asset.

• Depreciation methods

  The five depreciation methods and the German rules behind them.

• Asset categories

  Default accounts, useful life and method per class of assets, also from the official AfA table.

• Depreciation run

  Post the monthly depreciation of all assets to the general ledger.

• Recording an asset disposal

  Record the sale or scrapping of all or part of an asset, with automatic postings.

• Asset schedule (Anlagenspiegel)

  The development of fixed assets in a year: cost, additions, disposals, depreciation and book values.

• Budgets

  Create yearly budgets with planned values per account, cost center and month.

• Planning in the budget grid

  Enter planned amounts per account and cost center for the year or for each month.

• Copying a budget from actuals

  Create a new budget from the actual figures of an earlier year plus an uplift.

• Budget vs. actual

  Compare planned values with the actual ledger figures per account, for any range of months.

• Envelope budget

  Give every available euro a job and see what is left in each envelope, month by month.

• Forecast

  A linear projection of the coming months, based on the last twelve months of actuals.

• Currencies and exchange rates

  Maintain foreign currencies and their exchange rates, manually or from the European Central Bank.

• Currency converter

  Convert an amount between two currencies with the stored rates.

• Realised exchange differences

  Post the gain or loss that arises when a foreign currency receivable or payable is paid at a different rate.

• FX revaluation at period end

  Revalue open foreign currency items and accounts at the closing rate, with automatic reversal.

• Leave liability

  Calculate the provision for untaken leave for the annual accounts.