GoBD for self-employed people: the essentials

What are the GoBD?

GoBD stands for "principles for the proper keeping and retention of books, records and documents in electronic form and for data access". It is a circular from the Federal Ministry of Finance. It applies to everyone who keeps tax records, including with an EÜR.

The main principles

• Traceable: a third party must be able to see within a reasonable time how a transaction came about
• Complete and correct: all transactions are recorded, nothing is missing, nothing is made up
• Timely: non-cash transactions should be recorded within ten days, cash daily
• Orderly: documents can be found again
• Protected against change: a later change must not hide the original entry; changes are visible and logged

Retention

• Accounting records such as invoices and bank statements: 8 years
• Books, annual accounts and records: 10 years
• Commercial and business letters: 6 years

The period starts at the end of the calendar year in which the document was created. During that time the data has to stay readable and the tax office has to be able to access it.

Process documentation

You should be able to describe how you capture, store and protect documents. For small businesses a short description is enough. A note on the software you use and its properties helps.

What this means for invoices

You do not change an invoice once it has been issued. You correct it with a cancellation invoice or credit note and issue a new one if needed. The original is kept.

How Saldiqo helps

Saldiqo locks finalized invoices, logs changes with time and person, stores original PDFs and e-invoices locked against changes and creates a data export for audits. That is not an attestation by third parties. Whether your processes as a whole fit is something to clarify with your tax adviser. You remain responsible for the correctness of your bookkeeping and for your company’s procedural documentation.

Frequently asked questions

Do the GoBD apply to me as a small business?

Yes, they apply to all tax bookkeeping and records, including an EÜR.

May I keep invoices as PDF?

Yes, if they stay unchanged and readable. You keep e-invoices in their original format.

How long do I have to keep records?

Invoices and bank statements eight years, books ten years, business letters six years.

Do I have to write process documentation?

It is expected. A short description is enough for small businesses.

Is there an official approval for accounting software?

There is no official approval. Software can help you meet the GoBD requirements, the responsibility stays with you.

More guides

• E-invoicing in Germany: obligation, formats and deadlines
• The EÜR (cash-basis profit calculation) explained simply
• Invoicing as a small business: how to do it right
• Writing a payment reminder: deadlines, interest and fees
• Writing an invoice: the mandatory details under section 14 UStG
• Assigning invoice numbers correctly
• XRechnung or ZUGFeRD: what is the difference?