Accountancy

Accountancy

Accounting is the duty of every entrepreneur to record his business transactions. In many countries, for example, Germany two methods are used. On the one hand, an entrepreneur, if he is classified as a small business or freelancer, can choose the simple accounting, which is also called the revenue surplus calculation (EÜR). All other companies are required to double-book. This is usually applied as soon as the entrepreneur crosses the borders for the EUA or is not a freelancer.

The accounting must be conducted in a company so that it complies with the principles of proper accounting (GoB) equivalent. Due to the technical advances in the field of electronic data processing, the principles of proper computer-aided accounting systems (GoBS) have been specially developed for this purpose.
In medium and large companies, the organization of accounting can also be divided into several departments such as

Financial Accounting
investment management
customer management
supplier management
Dunning and invoicing etc.

With modern accounting software, the areas can be optimally synchronized with each other and workflows can be automated. This can go to the booking of electronic invoices(https://www.tet.no/regnskap/inkasso).

Accounting Duties

Besides the obligation to record all business transactions, other laws often require entrepreneurs to keep other books. These include, for example, special records in tobacco processing companies or in recycling companies.

The main task of accounting(www.tet.no), however, remains the chronological and systematic recording of all changes in value in the company in a billing period. As a result, accounting provides the basis for calculating the profit of a period. In addition, it provides data that is used for calculations of balance sheet key figures, cost of sales or other operational statistics.

In addition to the main task to record all postings, the bookkeeping department also includes the document organization of the company as well as the inventory.(https://www.tet.no/xledger)