The ‘digital financial reporting’ follows the E-Bilanz

The project ELBA (Elektronische Bilanzabgabe) is a part of ‘digital agenda’ of the federal government and is intended to contribute to the digitalisation of credit processes. The ‘digital financial report’ replaces paper-based annual accounts, which are things of the past. The initiative of the credit economy is aimed at automation of credit standing check. The manual process of lending can be considerably simplified.

Based on the German Commercial Code taxonomy 6.0, financial statements can be submitted electronically not only to the German Federal Gazette (Bundesanzeiger) and fiscal authorities (E-Bilanz), but also to banks. The German Commercial Code taxonomy has been expanded by several positions for the ELBA. However, this does not result in any new mandatory fields in the submitted E-Bilanz.

The first submission will be possible in 2017.

AMANA offers solutions for both parties: we support the preparer of the financial statements with our XBRL solution SmartTaxBalance.

The perfect solution for the banks to validate and analyse returns using the IFP protocoll is the AMANA XBRL Portal.

For more information on the SmartTaxBalance and XBRL Portal.
For more information on the Digitaler Finanzbericht.

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