The annual accounts intend to summarize all the financial information of the company in accessible documents that allow taking the appropriate actions.
Among the most common documents in the annual accounts we highlight:
- Profit and loss account
- Statement of changes in equity
- Accounting memory.
In some exceptional cases, the cash flow document should also be included. All these documents must be drawn up in accordance with the General accounting plan, which is the document that governs the previous accounts.
If our company has less than 50 employees, has a turnover of less than 5 million euros and an asset of less than 7 million, we can benefit from the Accounting Plan for SMEs. If this happens, the cash flow document will not need to be presented.
Within the Accounting Plan and depending on the size of our company, we will have to use one format or another to present the necessary annual accounts (normal or abbreviated accounts).
The annual accounts must be submitted every 12 months (except if there is constitution, modification of the closing date of the fiscal year or dissolution of the company). All data must be duly justified by the company that justifies any payment. In addition, the accounts must be presented by the entrepreneur or corresponding administrators, and duly signed by ALL the shareholders of the company. In the case of missing a signature, the reason must be justified.
Those responsible must respond to the veracity of the accounts within a maximum period of 3 months from the close of the financial year. To shorten the following dates, if we close the year on December 31 we will have to take into account:
- As of March 31st, the Annual Accounts must be prepared by the administrators of the company.
- As of April 30, the mandatory accounting documents will be legalized: Diary book, Book of Inventories and Annual Accounts.
- As of June 30, the annual accounts are approved by the General Meeting of the Entity.
- Until July 30, the annual accounts will be deposited in the Companies register.