What does GoBD stand for?
The GoBD (Principles for the Proper Management and Storage of Books, Records, and Documents in Electronic Form as well as for Data Access) are administrative guidelines issued by the Federal Ministry of Finance of Germany. As an administrative regulation, the GoBD is binding only on subordinate administrative authorities and employees of the Ministry of Finance.
The abbreviation GoBD stands for these principles, which have been in effect since 2015, replacing the previous GDPdU (Principles for Data Access and Auditing of Digital Documents) and GoBS (Principles of Proper IT-Based Accounting Systems). The GoBD combines the content of both GDPdU and GoBS into a single set of guidelines.
Odoo GoBD Module
The GoBD module for Odoo and its certification were carried out in cooperation with Syscoon GmbH, the exhibiting company. The expansion module for the Odoo accounting made it possible to permanently block bookings that have already been made. During the process, these are provided with an independent blocking date, receive a unique consecutive number and a unique SHA256 hash value.
For European companies that need to demonstrate their compliance with the GoBD standard, our GoBD module facilitates the audit process with customized user access rights. The GoBD module and certificate can be acquired by partners or customers alike. The installation is very easy, there is no need to make any configurations. In addition, the licensing of the modules is open source.
What get's tested?
A GoBD audit typically involves a thorough examination of the company's IT systems, processes, and controls to ensure they meet these criteria. The goal is to verify that the electronic bookkeeping and record-keeping practices are reliable, transparent, and compliant with German tax regulations. These points are subject to special inspection:
Orderliness and Accuracy: Ensuring that electronic bookkeeping and documentation are accurate, complete, and orderly.
Integrity and Immutability: Confirming that once data is recorded, it cannot be altered or deleted without proper documentation. Any changes must be traceable and logged.
Data Access: Ensuring that the tax authorities can access the electronic data. This includes direct access to the Odoo system and the ability to export data in a readable and analyzable format.
Data Storage: Verifying that electronic records and documents are stored securely and are protected from unauthorized access or tampering. This also includes ensuring the data is stored for the legally required retention period.
Documentation and Procedures: Reviewing the documentation of processes and systems related to data management. This includes user manuals, system descriptions, and audit logs that document how data is captured, processed and stored.
Reproducibility: Ensuring that the electronic records can be reproduced accurately and completely for the duration of the retention period.
Compliance with Tax and Legal Requirements: Ensuring that the electronic accounting systems comply with all relevant tax laws and regulations.
System Security: Evaluating the security measures in place to protect electronic data, including access controls, encryption, and backup procedures.
Result and Benefits
The Odoo GoBD Module (Version 17.0) got the latest certification in June 2024. It helps to reduce the risk of fines or other penalties during tax audits by ensuring preparedness and compliance. Additionally, a GoBD certification enhances the company's credibility with stakeholders, including customers, partners, and investors, by demonstrating a commitment to proper data management and regulatory adherence. The certification process often leads to improved efficiency and accuracy in financial reporting and record-keeping, and ensures the secure storage and proper management of electronic data.
Are you interested in the Odoo GoBD module?
Feel free to contact us to carry out your electronic bookkeeping in compliance with GoBD and to strengthen the audit flow of operational data with our certified GoBD module.
