Throughout this year, we have written blog posts about various topics such as expense management, the new Danish Bookkeeping Act, digitalization, financial processes, data security, and much more. Granted. It’s a little geeky, but it’s all the fun stuff we love to talk about.
We dug into the statistics to find out which blog posts you read most. The three most popular blog posts in 2022 are;
- The new Danish Bookkeeping Act is here. How does that affect you?
- Five good reasons to embrace digitalization in your company
- How general expenses and travel expenses should be managed today
Below, we have made a short summary of the blog posts, which you can read or re-read.
1. The new Danish Bookkeeping Act is here. How does that affect you?
At the end of May, the Danish Parliament adopted the new Bookkeeping Act. It will enter into force on 1st July 2022. Therefore, the new requirements and rules in the Bookkeeping Act are just around the corner. Before you start stressing, we can reassure you that the transition will be smooth as the requirements come into effect gradually. We will walk you through the most important key points in this article.
The most significant changes in the new act are, without a doubt, the requirements revolving around the digitization of bookkeeping. The introduction of this requirement of digital bookkeeping of transactions, storing vouchers, and using a registered and approved digital accounting system.
Timetable for the new Bookkeeping Act:
- July 2022 – the act is effective
- July 2023 – registration and approval of digital accounting systems
- January 2024 – requirements for digital bookkeeping in digital bookkeeping system for companies in reporting classes B, C, and D
- January 2026 – requirements for digital bookkeeping in digital bookkeeping system for companies in reporting class A
This was a summary of the blog post. Read the whole post here.
2. Five good reasons to embrace digitalization in your company
Denmark’s digital competitiveness is top-notch. We occupy first place in The European Commission’s Digital Economy and Society Index (DESI) for 2021. It is mainly due to Danish companies launching digital strategies and initiatives. The degree of integration of digital tools has increased significantly in the last couple of years. Danish companies generally embrace digital strategies and utilize the opportunities that digitization brings.
Usually, there is always room for improvement. Business models can get challenged, and new ones can replace traditional ways of thinking. There are still companies that need to catch up in digital transformation. Overall, it is Danish SMEs lag behind larger companies.
While digitization holds great potential, it often requires resources, knowledge, and skills to invest in and implement digital solutions. In this article, we have gathered five reasons why digitization is a critical element on the path to growth.
- Digitalize or risk being left behind
- Streamline workflows with digital services
- Focus on competencies and core services
- Data, data, data
- Digital documentation does not fade
This was a summary of the blog post. Read the whole post here.
3. How general expenses and travel expenses should be managed today
Most businesses have – wholly or partly – digitized and automated the process related to the expenses created by employees when they’re doing their jobs.
Even though several businesses have already jumped aboard digital solutions to help them optimize within this area, there’re still those who are lagging and working manually. This doesn’t work in the year 2022. In addition, it’s a fact that a number of the businesses that already are digital within this area, in reality, only operate with a partly digital and automated process. This also doesn’t work in 2022.
To obtain a 360-degree digitization of this area, companies must know that all feasible purchase, payment, and transaction channels can be managed in a digital workflow that runs from purchase to bookkeeping and accounting.
At the same time, expenses, outlays, and travel settlements must be handled from anywhere – digitally and automatically. In other words, the handling must be able to take place on the mobile on the go. A bonus of automated expense management is that data will always be up-to-date and available. This way, companies obtain an entirely different basis for managing their business.
This was a summary of the blog post. Read the whole post here.
These were the three most-read and most popular blog posts from 2022. The year is ending, and we look forward to filling up our blog with a lot of exciting content in 2023.
