Avoid Bookkeeping Orders and Coercive Fines During Inspection

Bookkeeping of securities transactions is an area that often creates challenges for both investors and accountants. Despite clear regulations, many resort to simplified methods to save time and money, often without realising the long-term consequences.

Shortcuts can become costly

The bookkeeping rules for trading securities are very clear. For accountants, correctly recording securities transactions is time-consuming and, for most, complicated, and consequently costly for the accountant, the client and the investor alike.

This is why many make the mistake of taking shortcuts in the form of balance-based posting when recording securities transactions. This significantly simplifies the work and produces substantial savings at first, but it can become costly in the long run. Balance-based posting is contrary to the bookkeeping rules and, in the event of an inspection or audit, can result in a bookkeeping order and a coercive fine.

Automated bookkeeping at a lower cost

By using StockAccounter, all securities transactions are recorded in accordance with current regulations, at a cost that for most will be lower than using unlawful shortcuts such as balance-based posting.

The future brings stricter requirements

It is clear that bookkeeping regulations will not become less strict or less demanding. Significant resources have been allocated to public bodies such as the Norwegian Tax Administration, the Brønnøysund Register Centre and the Financial Supervisory Authority to establish robust digital solutions for better oversight and compliance. It would be naive to expect the requirements for correct securities bookkeeping to not become stricter.