LFK Digital Law Firm

For decades, the pendulum file was at the center of the work process. It dictated the working method and involved a lot of work: receipts were sorted into shuttle folders, then photocopied and sorted again; folders were picked up again and again, re-arranged and so on, month after month. All those hours of labor - with no added value.

DATEV Enterprise online streamlines these processes: documents must only be scanned once. The LFK Partner group sets up a system that saves time and upgrades your efficiency. All you need to do is scan your receipts regularly and save them in the DATEV cloud (data center). Every receipt is digitized and archived appropriately – and retrieving it is just a matter of a single click! Make hunting through paper folders a thing of the past!

Paperwork is time-consuming not just in financial accounting: filing documents and copies in the process of payroll accounting also involves a great deal of effort. Whether you’re filing questionnaires submitted by new employees, sickness notifications or school or degree certificates - DATEV Enterprise online makes collaboration and data exchange much easier and more efficient: you just need to do one scan of each payroll-relevant document, followed by an upload to the Digital Personnel File - and we, at LFK PARTNER, can easily view them in the payroll program. All you need to file by hand are the originals.

Clear rules apply to electronic invoices: during a tax audit, it was usual for original invoices to be surrendered. In a digitized company, it is the electronic invoice (but not printout) that may be required. DATEV Enterprise online certainly keeps you on the safe side.

Archiving electronic invoices with DATEV is not only reliable and secure, it is also simple. You put each electronic invoice into the DATEV Enterprise online storage, archiving them there. By using a corresponding file name for each invoice, you thereby build up your own keyworded document archive. The original invoice can be found – even ten years later - in no time at all!.

Many entrepreneurs base their business activities on their account balance. Monitoring the company's liquidity at all times is an essential factor. With DATEV Enterprise online, you virtually have your own bank account dashboard. This means you always have full transparency with regard to current figures. This application can even be used without an electronic banking program.

Keep tabs on your account balance: you can straightaway view every transaction and the account balance for the current day as well as the previous day on the start page of Bank online. You only need to set up your bank account once. This is also possible if you have several bank accounts.

Processing a large number of invoices by any given monthly due date can be very time consuming for companies. It starts with filling out a pay slip for each transfer. Then, various entries have to be completed, even when you use a banking program, because the invoice or order number (reason for payment) and the invoice amount must be entered manually. With DATEV Enterprise online, the data is automatically inserted.

Bank transfers in just a few steps:

• The supplier invoice is scanned into the system
• OCR recognition identifies over 80% of the data in the paper document, such as date, invoice number and amount.
• The payment medium is filled in automatically.
• After one more click, the transfer is received by the bank.
• For an optimal overview and easy retrieval, the medium of payment is directly linked to the invoice.

Tip: DATEV Enterprise online also supports the distribution of tasks within a company: one employee enters the data on the medium of payment, while another can be assigned the task of releasing payment.

Direct debit is an excellent procedure for securing a company's liquidity, because direct debit ensures prompt payment of an invoice. However, direct debit could also involve manual effort on the part of your company. DATEV Enterprise online significantly lessens this workload.

Direct debit is quickly and easily submitted to the bank: you create the customer invoice and upload it to DATEV Enterprise online. Similar to bank transfers, the date, invoice number and sum mentioned in the document are identified via OCR recognition and this extracted data is used to automatically fill in the required information. After a couple of clicks, this is sent to the bank. Finally, payment and invoice are linked in order to present you with an optimal overview and easy retrieval.

Tip: DATEV Enterprise online supports the division of labor within the company. One employee writes the invoice, another adds missing information on the payment medium, and another releases the payment.

Preparing the payroll correctly is one thing. Transferring wages and salaries on time is another. If, besides this, you then have to go to the bank with the printed remittance slip or cover letter in order to authorize wage payments, additional time and effort is needed. It is not uncommon for banks to charge fees for this. With DATEV Enterprise online, you have a convenient tool at hand, because we can ensure that payments are done automatically from the digital payroll system.

This is how it works: LFK PARTNER sets up the payroll component in the DATEV payroll program and provides you with the payment proposals via DATEV Enterprise online. Your company can then approve the wage payment proposal and send it directly to the bank.

Are you on the safe side when it comes to cash registers? This is all the more important because the tax authorities are now allowed, for the first time, to carry out cash inspections among all taxpayers with income from profits. The aim is to expose manipulation and the tax authorities are apt to undertake a thorough investigation: cash movements must be recorded daily and archived for ten years in a form that can be analyzed by a machine. It is highly problematic when a cash register has not been properly managed and inconsistencies are discovered: This can lead to the dreaded additional assessment. The solution is quite simple - GoBD-compliant cash management with DATEV Enterprise online.

By implementing the DATEV solution, your cash audits are safe and sound: you record your cash movements, while DATEV Enterprise online continuously checks for cash deficits, chronological entries, and completeness - all this is fully automatic. Cash movements can also be recorded directly by automatic extraction from the digital document image. These digital documents are then archived in the DATEV data center in an audit-proof manner and are linked to the cash movement. The result is always reassuring: a GoBD-compliant cash book.

Once the payroll system has been set up by LFK PARTNER, you receive a whole package of evaluation reports from us: payroll journals, contribution statements recording health insurance funds or personnel cost overviews. In paper form, each evaluation must be filed in folders and placed on a shelf - over months and years. You are obliged to keep the evaluation reports for ten years. Sending the evaluation reports by email is also not ideal, because you need to save the files locally and ensure that they are accessible for up to ten years. It's much easier when you use DATEV Enterprise online.

You receive wage evaluation reports from LFK PARTNER in an environmentally-friendly, convenient and digital form. Time-consuming filing or storage in archives become a thing of the past. Plus, as a company, you benefit from secure archiving in the DATEV computer center for the ten-year period. Any time you need a specific document, it can quickly be found using the convenient search function.

In a company, a lot of valuable time and enormous effort is spent entering and documenting accounting records, especially if you still have to type in incoming invoices by hand.

Digital receipt posting simplifies the whole process: first, you scan your receipts. The posting line in DATEV Mittelstand Faktura mit Rechnungswesen is then automatically pre-filled with data extracted from the digital documents, because the document is automatically linked to the posting. The accounting clerk only checks the posting line and makes additions, if necessary.