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Accounting in EU
Those who manage business in europe. Who's doing your accounting? I mean where do you export your invoices to pass to government at the end of fiscal year?
Do you have to do any hacking with whmcs, hostbill or any other billing software to alter logic according to your gov guidelines?
@LTniger Modulesgarden module Quickbooks online works very well with WHMCS we use this for our accounting and returns. makes things seemless. syncs invoices , transactions ect all customer info every 24 hours "yes its GDPR Compliant"
Where does your business registered?
@LTniger we are registered in the UK , im sure the quickbooks module works for many regions
@LTniger you do realize that accounting requirements in the EU vary from "practically none" to "detailed and real-time reporting requirement of every tax invoice with penalties for non-compliance that could make you bankrupt and that require expensive accounting software specific to that country" depending on where you conduct your business. And that's not even touching transnational crap like VAT-MOSS.
If you have a company in a shithole like Hungary, then you're probably out of luck for any WHMCS integration and you'll likely end up with some interns at your accounting firm typing each invoice manually into their bookkeeping software.
Yes, exactly this. My country is Lithuania with one of the most ridiculous accounting reqs. Whmcs, hostbill and others are not suitable... I have to invent paralel acxounting to these systems in order to comply. Wondering if anyone has the same horror.
You can use an accounting software, and then have verification and validation from an official registered accountant. Depending on country reporting to state is done monthly or at 2 months.
Some companies do not have a hired accountant, but have all the accounting work outsourced to a specialised accounting company. This is done depending on how large is your business, whichever is the cheaper option.
I have a Python script that takes all invoices at the end of the month and adds them to Quickbooks. Been running for 3 years now with smaller adjustments. This is mainly for the quarterly VAT-MOSS return.
Since you are legally required to keep accounting data and also proof for VAT charges, you don't need to worry about GDPR. You're always allowed to keep data if you have to by a law or for security. Still good to tell people, but they can't opt out.