Annual accounts? These are the terms related to the accounting closing that you should know
Posted: Wed Dec 18, 2024 4:24 am
To close the accounts of a company for the annual accounts, it is necessary to know which documents must be submitted to the Commercial Registry.
We explain the key terms you need to understand in order to legalize your accounting books and file your annual accounts.
In the Sage business dictionary you can find and expand on these and other business terms.
Understanding some accounting terms is very important for entrepreneurs, self-employed or small business owners. Among the terms they should know are those related to:
The company's administrator must sign the company's annual accounts and should not do so without knowing what he is signing. Therefore, any self-employed person, entrepreneur croatian email list or small business owner must strive to improve their accounting and financial culture.
In addition, knowing the key terms for closing your accounts will allow you to improve your communication with your accountants and advisors. It will also facilitate your planning, control and decision-making tasks.
Knowing the following terms related to accounting closing will make it easier for you to fulfill your business obligations and control the progress of your business.
Download your FREE copy of the “Basic Kit for Keeping Your Accounting Up to Date”
Commercial Register
This is the place where the documents relating to the accounting closure of your company must be submitted. In the Commercial Registry corresponding to your company, you must electronically submit the accounting books for legalisation and deposit the annual accounts.
Legalization of accounting books
Within the accounting closing calendar, the first commercial obligation that companies have in relation to accounting closing is the legalization of the accounting books . This is a formal obligation included in the regulations of the Commercial Registry and in the General Tax Law.
Companies must submit the following accounting books electronically on the website www.registradores.org for legalization:
Diary book.
Inventory book and annual accounts.
The deadline for legalizing accounting books is 4 months from the closing date of the fiscal year.
Sage 50 makes it easy for you to create the file necessary to legalize your accounting books.
Filing of annual accounts
To do so, you must complete a submission request form, which identifies the entity that is filing the annual accounts. This form also lists the accompanying documents, along with the identification of the person who files the annual accounts.
Among the documentation to be submitted are the general identification data and complementary information , which includes the following:
Number of salaried people, distinguishing between permanent and non-permanent and between men and women.
Start and closing date of the annual accounts.
Application of the result.
Information on the average payment period to suppliers.
The deadline for filing your company's annual accounts is within one month of the date of approval of these accounts . Remember that the accounts must be drawn up within a maximum period of three months from the end of the financial year and approved by the General Meeting within the first six months from the end of the financial year.
Sage 50 allows you to easily create the file that you must send to the Commercial Registry to file your company's annual accounts.
Declaration of identification of the beneficial owner
Natural persons with a participation percentage in the company of more than 25% are identified. In the event that there is no natural person who owns or controls more than 25% of the capital or voting rights, the directors or persons responsible for the management of the company will be indicated. The companies involved in the chain of control will also be indicated.
Certification of approval of accounts
This document certifies the date on which the General Meeting is held, the names and signatures of those attending and the agreements adopted. It should include the approval of the annual accounts and the distribution of the profit.
Start of marked textTweet it! Discover the key terms for closing your company's accounts: legalization of books, filing of annual accounts and more.End of marked text
Balance sheet
The balance sheet is a kind of “snapshot” of how the company’s assets are made up at a given time and how they have been financed. The balance sheet that the company must present in its annual accounts is prepared at the end of the financial year . It includes the company’s assets, liabilities and net worth. The balance sheet distinguishes between current assets and liabilities (short-term), non-current assets and liabilities (long-term) and net worth.
We explain the key terms you need to understand in order to legalize your accounting books and file your annual accounts.
In the Sage business dictionary you can find and expand on these and other business terms.
Understanding some accounting terms is very important for entrepreneurs, self-employed or small business owners. Among the terms they should know are those related to:
The company's administrator must sign the company's annual accounts and should not do so without knowing what he is signing. Therefore, any self-employed person, entrepreneur croatian email list or small business owner must strive to improve their accounting and financial culture.
In addition, knowing the key terms for closing your accounts will allow you to improve your communication with your accountants and advisors. It will also facilitate your planning, control and decision-making tasks.
Knowing the following terms related to accounting closing will make it easier for you to fulfill your business obligations and control the progress of your business.
Download your FREE copy of the “Basic Kit for Keeping Your Accounting Up to Date”
Commercial Register
This is the place where the documents relating to the accounting closure of your company must be submitted. In the Commercial Registry corresponding to your company, you must electronically submit the accounting books for legalisation and deposit the annual accounts.
Legalization of accounting books
Within the accounting closing calendar, the first commercial obligation that companies have in relation to accounting closing is the legalization of the accounting books . This is a formal obligation included in the regulations of the Commercial Registry and in the General Tax Law.
Companies must submit the following accounting books electronically on the website www.registradores.org for legalization:
Diary book.
Inventory book and annual accounts.
The deadline for legalizing accounting books is 4 months from the closing date of the fiscal year.
Sage 50 makes it easy for you to create the file necessary to legalize your accounting books.
Filing of annual accounts
To do so, you must complete a submission request form, which identifies the entity that is filing the annual accounts. This form also lists the accompanying documents, along with the identification of the person who files the annual accounts.
Among the documentation to be submitted are the general identification data and complementary information , which includes the following:
Number of salaried people, distinguishing between permanent and non-permanent and between men and women.
Start and closing date of the annual accounts.
Application of the result.
Information on the average payment period to suppliers.
The deadline for filing your company's annual accounts is within one month of the date of approval of these accounts . Remember that the accounts must be drawn up within a maximum period of three months from the end of the financial year and approved by the General Meeting within the first six months from the end of the financial year.
Sage 50 allows you to easily create the file that you must send to the Commercial Registry to file your company's annual accounts.
Declaration of identification of the beneficial owner
Natural persons with a participation percentage in the company of more than 25% are identified. In the event that there is no natural person who owns or controls more than 25% of the capital or voting rights, the directors or persons responsible for the management of the company will be indicated. The companies involved in the chain of control will also be indicated.
Certification of approval of accounts
This document certifies the date on which the General Meeting is held, the names and signatures of those attending and the agreements adopted. It should include the approval of the annual accounts and the distribution of the profit.
Start of marked textTweet it! Discover the key terms for closing your company's accounts: legalization of books, filing of annual accounts and more.End of marked text
Balance sheet
The balance sheet is a kind of “snapshot” of how the company’s assets are made up at a given time and how they have been financed. The balance sheet that the company must present in its annual accounts is prepared at the end of the financial year . It includes the company’s assets, liabilities and net worth. The balance sheet distinguishes between current assets and liabilities (short-term), non-current assets and liabilities (long-term) and net worth.