From January 1, 2024, digital cash registers will be mandatory according to the new legal requirement in specific industries.
As of January 1, 2024, a new law will be enacted, mandating certain businesses to adopt digital cash registers for recording sales. If you have a business in one of the mentioned industries in the next section, you will be obligated to provide sales information in a digital format to the tax authorities either during an inspection visit or immediately afterward. If you are unsure about what a digital cash register is, it will be described later in this blog post.
Which industries will be subject to new rules on digital cash registers?
What is a digital cash register?
In the modern digital era, the internet has revolutionized the way people conduct business. Digitization has made the world more accessible, and as a consumer, you are no longer limited by physical boundaries.
A digital cash register is an electronic device or software that assists in digitally recording and processing sales transactions in businesses through what is called a POS (Point of Sale) system. It replaces the traditional physical cash register and offers more features and capabilities. A digital cash register is usually connected to a platform and can integrate with other business processes such as inventory management, accounting, and reporting. Ka-ching is one such POS-system.
The smart thing about Ka-ching's digital cash register is that it can be connected to an iPad, iPhone, and newer Macbooks. This means that you don't have to go out and invest a lot of money in a new physical cash register when the new legislation comes into effect. Ka-ching's digital cash register records sales, calculates the total amount, and generates electronic receipts. Ka-ching's digital cash register helps businesses automate the sales process, increase accuracy, and, most importantly, comply with the new legislation for digital cash registers.
Ka-ching's digital cash register integrates with your accounting software
With Ka-ching's digital cash register, you can integrate your accounting system with your future digital cash register. This means that in addition to complying with the new legislation from 2024, you also have the ability to automatically import daily sales and payments directly into your accounting program. So not only are you complying with the law, but your everyday life also becomes a lot easier.
In addition, by investing in a new digital cash register (POS system) in collaboration with your accountant, you can achieve efficiency and savings in the accounting work itself. By planning the process correctly, you can obtain significant benefits in handling your accounting tasks. Moreover, you can extract a lot of data to digitally monitor the performance of your business.
Do you need guidance in transitioning to a digital cash register?
If you need advice or guidance regarding the selection of your digital cash register, please feel free to contact us. We want to make your transition to a digital cash register as smooth as possible!
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