January the Month of Balance Sheets
January is generally a busy time for companies with a december 31 tax balance sheet. To achieve a closing in the best conditions, you have to know how to prepare and organize yourself and above all to have transmitted all the elements to your accountant. How to proceed if we do not understand the issues of the tax return? What there is to know each company has its own chart of accounts adapted to the activity. The general accounting, traces all the elements of the exercise and allows to establish the balance sheet and the income statement . the difficulty of editing the tax package lies, even if accounting is only one element of the financial processes which freezes the accounts for the year.
In the Quality of The Content
Which must respect rules of excellence, because the support will be used in the event of a tax audit . doing it yourself is generally a perilous exercise, especially when you know that an inspection can go back up to 3 years from the date of its notification, which in some cases leads to a slippage over an additional year. So how to proceed? This period involves working closely with your accountant to register the Hotmail Email List last invoices and last payments before initiating inventory operations. To help you understand how your partner will operate, here are the items requiring justification of balances: 1. capital accounts they are generally affected by the minutes of the general meeting on the allocation of the result of the previous financial year. They may also contain loans and debts.
Fixed Asset Accounts They Are Fed from Time
To time by investments and generally by annual allocations. Inventory and work-in-progress accounts depending on the activity, they are fed by goods that have been. The subject of a physical inventory or studies and services. That have been the subject of a work in progress report. 4. third Asia Email List party accounts these accounts are mainly: suppliers, customers. Payroll taxes, state taxes & duties and other accounts receivable or miscellaneous creditors. 5. financial accounts they represent any investments and cash and cash equivalents. It is also necessary to check the consistency of the income statements. To do this, we invite you to analyze each class account (6 expenses) & (7 income). With regard to the previous year to check the relevance of the variations.