7 tips for a successful financial statement
Mit dem Jahresabschluss wird die Buchführung eines jeden Geschäftsjahres abgeschlossen. Der Jahresabschluss hat große Relevanz, unter anderem, weil er die gesamtwirtschaftliche Situation eines Unternehmens repräsentiert. Ein Jahresabschluss kann jedoch auch nichtig sein. Wir von der Steuerkanzlei Martin Bleckmann in Köln erklären Ihnen, ab wann das der Fall ist und welche rechtlichen Folgen ein nichtiger Jahresabschluss mit sich bringt.
If you the Double Accounting Requirement , you are required to prepare annual financial statements. These include partnerships (GbR, OHG & KG), corporations (AG, GmbH, UG) and Kapitalgesellschaft & Co. (AG & Co. KG, GmbH & Co. KG, UG & Co. KG). But even as a freelancer or small business owner or small business operator, you benefit from a meticulous Financial statements — It gives you a comprehensive overview of the current situation of your company. We at Martin Bleckmann Tax Consultant Auditor from Cologne give you seven valuable tips on this.
1. Observe the correct deadline
The deadline for your annual financial statements is always linked to the filing of the tax return. If you have not requested an extension of the deadline, the tax office expects you to submit your tax return and annual financial statements by 31 July of the following year at the latest. If you have your tax return prepared by a tax consultancy firm, is there a Automatic Deadline Extension By the end of February of the year after next.
2. Prepare financial statements efficiently
The more structured your approach, the faster and more cost-effectively you can execute the annual financial statements. It makes sense to start early — this will prevent stress and inconvenience when the deadline approaches. Set All required documents Together in time. These include articles of association, extracts from the commercial register, leasing contracts, rental and lease agreements, copies of invoices and receipts. In addition, there is important preparatory work that is required for the annual financial statements. These include:
- Entering and sorting accounting documents
- Determining and recording depreciation
- Recording inventories and contracts
- Invoice accruals
- Collection and review of receivables
- And much more
3. Optimize your annual result for tax purposes
The more profit your financial statements show, the higher the tax charges. So you save a lot of money when you use your Optimize results in good time, i.e. calculate your profit as small as possible. For example, you can bring forward investments, move income to next year (e.g. by contacting customers for a payment in the coming year), or pay all invoices in the current year.
4. Special care when accounting
If you are required to do accounting, you should all Accounting documents thus storeThat they can easily be assigned to individual bookings. These include, for example, incoming and outgoing invoices, contracts, receipts, etc.
5th Tip for Income Surplus Accounting
If you determine your profit using an EER, it is recommended to use a Accounting software. This is particularly useful, as you have to send the profit calculation digitally to the tax office anyway. So if you enter all documents electronically during the year, this makes the process much easier. If you don't use software, you should use a filing and recording system. Using the tax office's EUER form, you can see which categories are best to create in a folder. At the end of the year, add up the receipts and enter them into the corresponding form field.
6. Digital is the future
Tax returns as well as balance sheets must today — unless they are subject to the hardship regime — Digitally Transmitted Become. You should therefore also do your bookkeeping and, ideally, document entry digitally. Alternatively, submit your documents to your tax consulting firm — they will ensure compliance with the requirements in accordance with the legal guidelines.
7. Be careful with special leasing payments
If you calculate your profit using an EUR, there is a pitfall when it comes to special leasing payments: This may be deducted in full as a business expense when buying a company car. However, should your business use fall below 10 percent in subsequent years, the tax office can retroactively overturn parts of the special leasing payment as a tax deduction.
Conclusion: Let yourself be supported by a professional!
In the points mentioned above, we have listed just a few tips and aspects that you should consider when preparing annual financial statements. As you can see, the topic is extensive and offers many ways to save money, but also pitfalls that need to be avoided. This requires a lot of expertise that a tax advisor brings along by profession. In order to be able to concentrate fully on your tasks in day-to-day business, you should have annual financial statements prepared by professionals. In addition to saving you time, this also saves you a lot of money. We would be happy to advise you on this free of charge.
