High-quality business information is no longer the exclusive right of big companies. These tips will help you ensure high-quality business information for your SME, which will increase the transparency of your financial information, your overall understanding of your business, and your business predictability. The Management Consultant comes up with the best solution for the entire process and that makes the whole thing quite easy. The deals are perfect for the same now.
Under the Accounting Act, a company’s accounting records must be kept for at least 6 to 10 years after the end of the financial year. This must also be taken care of after the closure of the business.
An entrepreneur may, in principle, receive a daily subsistence allowance if his business has ceased completely or his employment with the company has ceased. This may be a question of interpretation if the company still exists, for example, in a drawer.
Tax benefit after 10 years
After owning the property for at least ten years, the entrepreneur may, after selling it, use the acquisition cost assumption of 40% of the transfer price instead of the actual acquisition cost. This applies to the sale of shares, real estate and equipment, and brings direct tax benefits.
Termination is not a failure
The mood towards termination has changed. “Young people who see entrepreneurship as an increasingly realistic option also realize that stopping something does not make you a failure. Such a stamp is gone. ”
Invest in the ERP system
When it comes to getting a better understanding of one’s own business in an SME, the first important task is to make sure that the ERP system is widely used by the company. In other words it ensures that the ERP system is actually used in the daily life of the company. In addition to widespread and active use, it is also necessary to ensure that the ERP system settings are truly relevant to the business and its structure. In addition, it is important that all customer and supplier information is stored in the ERP system and not, for example, in employee emails or their own folders.
Ensure that the information is reliable
In addition, once the ERP system has become an enterprise-wide routine, it must also be ensured that the data entered into the system is reliable – the quality of the data entered into the system naturally also determines the quality of the information that is extracted from the system. Therefore, the company should ensure that the information entered into the ERP system is correct and accurate, that the information is updated according to commonly agreed procedures, and that the information is always current and up to date.