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Compare balance sheet with income statement

November 1, 2021 | 40,00 EUR | answered by Steuerberater Knut Christiansen

Dear tax advisor,
I have a small limited liability company (UG) that had only one expense item (marketing expense) in 2019 and generated revenues for three months. These are noted in my income statement. Now I need to transfer the income statement and e-balance sheet to the tax office. However, I do not know how to enter these values in the balance sheet. Currently, my assets and liabilities are both 0 while my income statement shows a loss of €5,954.99. The e-balance program does not allow submitting with different values between the income statement and balance sheet. How do I get the same values in the balance sheet as in the income statement? What exactly do I need to enter where? I am using www.ebilanzonline.de. Thank you in advance for your help.

Marketing expense: €8,330.00
Revenue from the sale of a digital product: €2,375.01

Attached are the e-balance sheet and income statement.

Steuerberater Knut Christiansen

Good morning,

It cannot be that your assets and liabilities each show a value of 0 euros. Because the UG must show share capital (nominal capital) on the liabilities side and surely also has a bank balance, which then must be shown either positively (assets side) or negatively (liabilities side) depending on the case. Furthermore, the annual loss must be deducted from the equity on the liabilities side and reduces it accordingly (the paid-in share capital in terms of equity is thus reduced).

In order to really be able to help here, all of these values would need to be known. Please feel free to provide me with these values via the follow-up question. Then I will see if I can help you with this data.

Best regards,

Knut Christiansen
Tax advisor