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An easy introduction to double-entry bookkeeping – thanks to expert support
Many local governments in Baden-Württemberg are facing new challenges today: They are required to convert to double-entry bookkeeping by 2020 at the latest. Previously divided into administrative and capital budgets, in the future city treasurers will have to prepare a Statement of Financial Position with double-entry bookkeeping, and prepare an opening balance sheet for the first time.
To make it easier for local governments to get started with double-entry bookkeeping, Axians Infoma offers a support program for converting to double-entry bookkeeping.
Dr. Gerald Peters, Head of local government consulting at Axians Infoma, visited the city of Dürrheim in early March to give the municipal council there an initial presentation on the new budget and accountancy requirements. With Infoma newsystem, governments can automate many processes and keep hours and personnel expenses in check. This allows them to reduce concerns about increased work in the future for city treasurers and new personnel challenges.
The municipal council decided to follow the legal guidelines and voted to introduce double-entry bookkeeping – and with Axians Infoma, the city knows it’s in good hands.
Read the article from the regional press, the Schwarzwälder Bote.
Dr. Gerald Peters,
Leiter Kommunale Beratung