Every year - not only does the Christ child come, as in the Christmas carol of the same name. At the end of the year, it will also be decided how high the taxes to be paid in arrears and in advance are and whether the contributions paid to statutory health and nursing care insurance by voluntarily insured self-employed people and freelancers match the estimated income or whether additional payments and higher advance payments have to be made. Since these amounts can be crucial to success, it is important to always keep an eye on income and expenses. GetMyInvoices supports this.
Always informed about income and expenses
Our invoice management solution automatically and permanently compiles receipts for income and expenses. The relevant access data only needs to be entered once. Then GetMyInvoices retrieves the invoices from various email inboxes, thousands of customer portals and third-party systems at the specified intervals. Receipts and digitized receipts can be easily added using the scanning app. There is also a central mailbox to which documents can be sent. All receipts can be tagged and researched using the front end, which can be accessed via a web browser. This means that income and expenses can be displayed and consolidated in different views and time periods with just a few clicks. The user immediately has a current overview without any further effort.
Annoying end-of-year activities such as collecting receipts and manually adding amounts are no longer necessary. Now it is easy to determine, without waiting, whether the company can afford to pay its employees a bonus, donate money and whether it makes sense to bring forward expenses - and not just because of the deadline this year until March 31st. Lower sales tax applicable in December. Allowances, for example, play a major role. If these are exceeded, even without Christmas bonus payments, donations and additional expenses, it can be more expensive than if the profit were reduced through expenses at the right time. For a realistic assessment, not only the additional payment of taxes and contributions must be calculated. The advance payment for any outstanding year and the following year must also be taken into account. If the amount is sufficient, these can significantly reduce the liquid assets available in the future and even lead to insolvency. An aspect that founders in particular always underestimate!
Help with tax returns
But GetMyInvoices doesn’t just help you make income and expenses at the optimal time. Our invoice management solution is also helpful when creating advance sales tax returns based on the same principle - whether they are annual, quarterly or monthly reports. Likewise, preparing tax returns with GetMyInvoices no longer requires any effort. In addition to the intuitive options for evaluation, our invoice management solution also transfers the necessary documents, including the automatically read information, to the accounting software or to the tax advisor, so that they are available there almost in real time. This can also mean that the tax return is completed more quickly, can be submitted earlier and any excess money paid is refunded sooner.
