Everything on display – including finances

Quick and easy accounting, even out of the office – that’s what Lexoffice promises. Mr. Uwe Karo, equine business master and management consultant, has tested the accounting software.

Automatically send recurring invoices for riding lessons on a certain day of the month, bill the hay supplier with a few clicks and simultaneously send it to the tax advisor – there are different programs to facilitate bookkeeping and to communicate with tax advisors and banks. As a start-up, Lexoffice is well suited for posting business transactions, the software is relatively easy to use and offers tools for entering customers, preparing offers and invoices, and posting financial transactions to an Income Excess Account (EÜR) or Profit and Loss Account (income statement).

Create invoice, record expenses

The procedure for writing invoices is explained in the online assistant. For example, if the rent for the first box is owed to a new horse in the stable and other services such as coverage and screening have been booked by the horse’s owner. Then the list systematically guides you through the necessary processes that would have ended up on different scraps of paper in different trays if the invoice had been created ‘manually’. This includes the creation of the customer with the basic data as well as the services provided by the user with the necessary information such as sales tax, with which an appropriate business document (invoice) is created. Recurring information such as service description, price, customer data, payment terms and other information requested by the tax office for the next invoice are then stored.

The manufacturer states that everything is legally safe and compliant with GobD (the principles of proper management and storage of books, records and documents in electronic form). In addition to income such as giving riding lessons or renting boxes, expenses must of course also be recorded – from paper petrol bills to feed costs and Lexoffice introduces the user to automatic recording of receipts – Photography of receipts using the Lexoffice app is recommended.

A keyword can be entered for each receipt, such as gasoline, and the expenses are categorized accordingly and automatically posted to the appropriate accounting account. The intelligent text recognition function is interesting here: from scanned receipts, for example b. A new resource with its address data, bank details are read and at the same time proposed to the system. This gives you the option to automatically transfer all payment receipts and invoices to Accounting. At the same time, the posting is calculated correctly, so that the self-employed person’s obligation to register is fulfilled if it is properly processed. Simple payment vouchers can also be generated. If this area becomes more complex, unity sets limits, especially since bug demons can creep in quickly.

Many interfaces

The bank account can be integrated into Lexoffice. All assigned and unassigned items are clearly displayed as suggestions for documents that appear in the accounts. Each fund movement can be allocated to a document that is uploaded accordingly. According to Lexoffice, the software is under the control of BAFIN and is regularly checked for safety. This ensures security at the bank level.

Lexoffice offers to find a regionally active tax advisor who has been trained in the use of Lexoffice. Because: There are always questions that only a trained professional office can answer. The user has two options for working with the tax advisor: it processes incoming and outgoing invoices via the Lexoffice platform and transfers the accounting to the tax advisor on a monthly basis. Or it handles all business transactions via Lexoffice, including sales tax returns, and the tax advisor takes over the accounting at the end of the year.

A special feature of Lexoffice is the wide range of services, for example b – a systematic introduction to accounting forms, explanatory videos or online assistance with financial issues. Questions via online chat are answered professionally and solutions are indicated at appropriate intervals. On the website, you can learn about the legal reservation of business transactions, and current legal changes are taken into account.

Conclusion: Good for Self-Employed and Small Business

The program is pretty straightforward. The dashboard provides an overview of individual technical units and your own funds. Due to the orderly and systematic preparation of all forms and processes, obligations to the tax office are also fulfilled as much as possible. Self-employed individual employers, freelancers, micro-entrepreneurs and small businesses are in good hands.

Convenient DATEV interface. This makes it easy to pass the data on to the tax advisor. The limits are set by the strict chart of accounts, and accounts cannot be added or changed.

Payroll accounting can be accepted as a starting point, however, payroll accounting in particular raises very individual questions that push this unit to its limits. As a result, the company will have to expand at some point. But Lexware also offers professional software here.

Laboratory:

Ui Karo

Management Consultant, Equine Breeding Expert, Equine Management Master, Operations Manager


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