We can get used to it. Telematics is here to stay. If the health crisis has brought something positive, it is how workers and companies have worked hard to adapt to a new world that works remotely. In this case, companies have been able to present annual accounts electronically for many years and in 2020 it has become an obligation.
At the EIP International Business School, where you can study the Master in Financial Management and learn how to keep company accounting at a professional level, we explain how to present the annual accounts of a company.
What should we present
Legalization of Accounting Books: The accounting books are divided into 2, the Daily Book and the Book of Inventories and Annual Accounts, which we will explain below. You should know that the accounting books must be submitted with a deadline within 4 months of the closing of the company's accounting year, which if it coincides with the calendar year, will be April 30.
- Diary book: Also known as the Account Book, where all the transactions in which the company has taken part are recorded. Each of these transactions are called "items." In it we show the day-to-day life of our company.
- Inventory and Annual Accounts Book: In it we have to present the accounting and inventory situation of the company. At a minimum, we must present the company's situation for each quarter, as well as that for the closing of the accounting year.
Other accounting reports
When delivering the annual accounts we must include additional reports to those already mentioned. Each of them has the purpose of providing information on a different aspect of the economic health of your business project.
Memory: It sets out the objective facts of the company at an accounting level. It presents the activities in which the company has taken part throughout the fiscal year.
Statement of Changes in Net Worth: We will also have to present the differences in the company's own financing and all changes that occur in the net worth.
Statement of cash flows: It reflects the cash movements that have been carried out and recorded through invoices. This document has been included in the account balances for just over 10 years, so we could say that it is still new.
Balance Sheet: This accounting report measures the state of the company at a specific time. If you want to learn the keys to interpreting a Balance Sheet, visit the previous article on our blog.
Profit and loss account: In it we relate our sales or profits with the company's purchases or expenses to know why the company loses or gains money. You can too learn to analyze it in detail with the article from the EIP International Business School.
How to present annual financial statements
For the electronic presentation of the company's accounting documents, we must visit the page made available by the government, registrars.org. From there you will have to select the “Telematic Submission of Documents” option. From there we have to register as qualified by the company to deliver the reports.
Once we are registered and have accessed the platform, we select "Submit accounts" and a protocol message will appear notifying us of the following:
- We can prepare the documents with any accounting software. However, the file must be importable to the latest version of D2 program, the program that registrars use. To make sure there is no problem, we recommend downloading the latest version of D2.
- A fingerprint must have been generated with D2 or legalia.
After this notice, the window will open with the option to search our computer for the files that we want to upload to the platform. We will have already finished the process of presenting annual books of accounts.
In it Master of Financial Management you can acquire professional competence in the use of these programs, completely necessary when it comes to presentation of documents in the Commercial Registry.
