New and stricter requirements for electronic sales registration

As of 1 January 2024, a new law will come into force, affecting around 12,500 companies in Denmark. In this article, you can find out if your business is affected by it.

In 2017, a political agreement was reached to strengthen the fight against undeclared work. As part of this agreement, a new law on cash registers will become effective on 01/01-2024. This means several companies in four industries must use an electronic sales registration system, where sales data is stored automatically online.

The new requirement for electronic sales registration means that your company must either update its current sales registration system or acquire a completely new one.

The purpose of the legal requirement is that the digital cash registers will make it significantly more accessible for the Tax Administration to control companies where it is suspected that illegal work or cheating with VAT and tax is being done.

Who needs to meet the new requirements?

Suppose you run a business within one of the four sectors below and simultaneously have an annual turnover of less than DKK 10 million. In that case, you must have implemented an electronic sales registration system by 1 January 2024.

• Cafes, pubs, nightclubs, etc.

• Pizzerias, fast food bars, ice cream parlors etc.

• Grocery stores and 24-hour convenience stores

• Restaurants

Based on many studies conducted by the Danish Tax Administration, these four industries have been identified, as they tend to make incorrect declarations of tax and VAT more often.

What is an electronic sales registration system?

An electronic sales registration system is a digital POS system where all sales data is recorded and stored electronically. This can involve anything from details about prices, products, and transactions to information on customers and staff. By registering all sales electronically, your company can achieve greater accuracy and efficiency in your sales processes.

Digital sales registration can also contribute to better reporting and bookkeeping, which can mean that you can quickly retrieve the necessary information when, for example, you receive an inspection visit from the Tax Agency. This means that it will be significantly more accessible for you as a business owner to gain insight into your sales and reports and thus give you better business control.

New requirements for your electronic sales registration system

As a business owner in one of the four sectors, you must ensure that by 1 January 2024, you have an electronic sales registration system that meets the new requirements. If you have not done so, you may risk receiving significant fines from SKAT in the event of inspection visits from the Danish Tax Agency. Each time they perform a compliance check of your company, where the requirements for your electronic sales registration system are still not met, the fine will increase by DKK 10,000.

If you can answer yes to all of the following 15 questions about your electronic sales registration system, and it also meets the requirements for which types of sales must be registered. In that case, you can ensure that your system meets the new statutory provisions.

1. Can the sales registration system log all actions in an electronic journal?

2. Does the electronic journal contain the same information as stated on the till receipt?

3. Does the sales registration system have SAF-T as the default file format?

4. Can the file be transferred digitally or read out on commonly available electronic media?

5. Can the sales registration system make a Z-report?

6. Can the sales registration system make an X-report?

7. Can the sales registration system automatically register payment using an electronic means of payment?

8. Can the sales registration system record sales broken down by payment methods used?

9. Does the sales registration system have a built-in date and clock?

10. Does the sales registration system have an associated printer function?

11. Can the sales registration system print a till receipt that distinguishes between positive and negative amounts?

12. Can the sales registration system record sales separately for each seller?

13. Is it clear from the receipt if it is a "test receipt"?

14. Does the sales registration system have a cash till for storing cash?

15. Is it impossible to add, edit or delete information in the electronic journal of the sales registration system?

Read more about the 15 requirements.

Get help from an experienced supplier of digital sales registration systems

Suppose you, as a business operator, wonder whether your current electronic sales registration system meets the new requirements or if you already know you need to get a new one. In that case, you should get help from an experienced supplier of electronic POS systems.

To help you with this, you should contact our partner at kompasbank navigator, Amero. At Amero, you can get an electronic sales registration system that meets the upcoming statutory requirements. In addition, their POS system is simple and user-friendly, and it can help make your everyday life more accessible and increase efficiency and turnover in your business.

Read more about how Amero can help you get properly prepared for the stricter requirements here.