Accounts Approval: Key step to validate financial results
Every year, all companies (whether SARL, SAS or SCI) have the obligation to proceed with the approval and presentation of their annual accounts. But what are we talking about exactly?
As we have said, the approval of the accounts is a mandatory step for any business. The approval of the annual accounts is the act by which the partners or shareholders of a company validate the financial results for the last financial year. This stage is carried out during an extraordinary general (age) meeting, within six months after the fiscal year. Specifically, during the GA, the company’s managers present the various financial documents: evaluation, results status and account annex. Then comes the vote of the shareholders or partners to approve or reject all these documents.
This step is essential, because it makes it possible to validate the regularity of the accounts and make important decisions, such as assigning part of the profits to the reserves, postponing them the following year, to distribute them to the shareholders through dividends or to administer the losses, if no benefit has emerged.
Keep in mind that if the accounts are rejected, corrective measures must be taken quickly to guarantee compliance before a new presentation.
The presentation of accounts: a legal formality after approval
Once the accounts have been approved, the company must deposit them with the Registry of the Commercial Court on which it depends. Therefore, it is the last step, purely formal, but mandatory for all companies, and must intervene within 30 days after the approval of the accounts. However, if you plan to make an electronic deposit, which is mainly the case today, it has two months after the approval of the accounts to do so. Therefore, the documents that will be submitted are those approved, namely the balance sheet, the results statement, the annex of the accounts, and if there is one, the report of the legal auditor.
The deposit of accounts allows all this information to be accessible to the public. This obligation meets a transparency objective against the creditors, investors and several interested parties of the company. If you do not deposit your accounts, it runs the risk of financial sanctions that can vary from € 1,500 to € 3,000 in case of recurrence.
How to simplify your procedures and meet the deadlines?
The approval and deposit procedure of accounts may seem complex, especially for small and medium enterprises that do not necessarily have internal resources to administer these formalities. However, there are several solutions to simplify these procedures and guarantee compliance with legal deadlines.
Certain platforms such as LegalSart offer services to support entrepreneurs in carrying out the approval and presentation of annual accounts.
With legalstart, their steps are no longer a brake on their ambition. The platform allows you to administer your legal and administrative obligations independently, with the guarantee of receiving the support of experts.
In addition to this, you have the possibility of using accounting software, which allows you to facilitate the preparation of your financial documents. On the other hand, if you want greater support, you can call a chartered counter. Thanks to LS Compta, a signature with a LegalSart account with partner, you access an intuitive platform to administer your reports of expenses, invoices and transactions in real time, and follow the evolution of your cash.
And you have already presented your annual accounts?
This content was carried out in association with legalstart. The BFM business writing did not participate in the realization of this content.
Source: BFM TV
