Danish Bookkeeping Requirements for ERP systems are changing - are you ready?

Digital bookkeeping will be done in Shipnet accounting module to record financial transactions. Shipnet accounting module will provide Danish SAF-T Report on top of Shipnet version 2024 SR2

Data Protection: Financial records must be stored securely to prevent unauthorized access, loss, or alteration.

Data Location: Data must be stored within the European Union (EU) or European Economic Area (EEA), unless an exemption is granted.

Verify Data Storage Location:

• Ensure that your data storage solutions, including cloud services, are located within the EU/EEA.
• If using third-party services, obtain confirmation of their data storage locations.

Implement Security Measures:

• Use encryption, firewalls, and secure servers to protect data.
• Establish strong access controls with unique user IDs and passwords for employees.

Regular Backups:

• Schedule automatic and regular backups of all financial data.
• Store backups securely, following the same location and security requirements.

If you are hosted by Shipnet all listed requirements is taken care of satisfactory by Shipnet.

Uniform Data Format: Bookkeeping data must be exportable in a standardized format, specifically the SAF-T format.

Facilitate Oversight: This standardization allows for easier sharing of data with authorities for audits or inspections.

Ensure System Compatibility:

• Confirm that your bookkeeping system can export data in the SAF-T format.
• Update or configure your system if necessary.
  

• Regularly perform test exports to ensure data integrity and compliance with the SAF-T standard.

Staff Training:

• Train relevant staff on how to export data and understand the importance of the SAF-T format.

Detailed Logging: The system must maintain logs of all bookkeeping entries and modifications.

Traceability: Each entry should be traceable to the individual who made it, ensuring accountability.

User Account Management:

• Assign individual user accounts with appropriate access levels.
• Avoid shared accounts to maintain traceability.

Activate Audit Logging:

• Enable audit trail features in your bookkeeping system to record all actions.

Regular Monitoring:

• Periodically review audit logs to detect any unauthorized or suspicious activities.

Establish Policies:

• Develop clear procedures for making and approving changes to financial records.

Electronic Invoicing (E-Invoicing)

Use of E-Invoices: Businesses are encouraged to use electronic invoicing to streamline processes and reduce errors.

Adopt E-Invoicing Solutions:

• Implement invoicing software that complies with Danish and EU standards, such as OIOUBL or PEPPOL BIS formats.

System Integration:

• Integrate e-invoicing with your bookkeeping system for automatic recording of transactions.

Outgoing E-Invoices:

Shipnet has e-invoices in PEPPOL BIS format implemented in our invoicing module SNAIR for Norway. This is handled via 3^rd party Selby.  We are now in a process to implement e-invoices for Denmark via Selby, both in invoice module SNAIR and AR Module.

Incoming E-Invoices:

Shipnet has e-invoices in PEPPOL BIS format implemented in our invoicing module Invoice Capture for Norway. This is handled via 3^rd party Selby.  We are now in a process to implement e-invoices for Denmark via Selby in Invoice Capture.

Data Accessibility: The bookkeeping system must be capable of providing real-time data to authorities upon request.

Ensure System Readiness:

• Verify that your system can generate up-to-date financial reports quickly.

Maintain Current Records:

• Keep bookkeeping entries updated regularly to reflect real-time financial status.

Secure Data Transmission:

• Ensure your system can securely transmit data to authorities when required.

Shipnet accounting system can generate up-to date financial data quickly on real time data.

Competent Staff: Employees involved in bookkeeping must be knowledgeable about digital systems and compliance requirements.

Provide Training:

• Organize training sessions on the new digital systems and regulatory obligations.
• Include topics on data security, audit trails, and standardized reporting.

Develop Resources:

• Create user manuals, guides, and FAQs for staff reference.

Continuous Education:

• Keep staff updated on any changes to the bookkeeping regulations or system updates.

Record Retention: Financial records must be retained in a readable format for at least five years after the end of the financial year they pertain to.

Implement Archiving Procedures:

• Establish a process for archiving records securely for the required period.

Ensure Accessibility:

• Make sure that archived data remains accessible and can be reproduced in a readable format upon request.

Secure Disposal:

• After the retention period, dispose of records securely, following data protection regulations.