Bokföringsförordningen

Bokföringsförordningen, or the Accounting Ordinance, is a Swedish regulation that governs how businesses must keep their financial records. It complements the broader Bokföringslagen (the Accounting Act) by providing more specific rules and requirements for bookkeeping practices.

The ordinance details what information must be included in accounting records, such as revenue, expenses, assets, and liabilities. It also sets standards for the format and organization of these records, emphasizing clarity, orderliness, and traceability. Businesses are required to maintain their accounting records in a way that allows for easy verification and auditing.

Key aspects covered by Bokföringsförordningen include the retention period for accounting documents, which is typically seven years for financial records and two years for documents that are not considered part of the primary accounting records. The ordinance also addresses the use of electronic accounting systems and the requirements for storing digital records to ensure their integrity and accessibility.

Furthermore, Bokföringsförordningen specifies the responsibilities of those involved in bookkeeping, including business owners and their appointed accountants. It aims to ensure accurate and reliable financial reporting, which is crucial for tax purposes, business management, and transparency to stakeholders. Compliance with the ordinance is essential for all businesses operating in Sweden.