Accountancy advice for companies in Spain.
At Welex, we offer professional, personalised service. All our professionals have years of experience in their activity, which they put at your service in order to respond quickly and effectively to your matters.In your business, you must have your accounts up to date, and this task requires qualified people if maximum net benefits are to be reported of the economic activity..It is extremely important to have the knowledge of an expert accountant when your company is a trading company.The formal obligations of companies can basically be classified into three categories:Formal accountancy obligations.The obligatory books that a company in Spain must have are:
- Balance sheet.
- Profit and loss account.
- Annual report.
The three aforementioned documents must be drawn up clearly so that the information is useful and comprehensible. Information that arises from the annual accounts must show the true image of the company’s equity and results.
A) The annual accounts, which are made up of the following:
B) Journal, in which all operations related to the company’s activity are daily registered.
C) Minutes book.
D) Registry of shareholders of a limited company.
Property Company versus company with economic activity in Spain
Welex, your office of economists and Tax Advisors in Marbella is pleased to write a few lines abo
We also remind the tax rates and exemptions from corporation tax in Spain.
When does a company in Spain have an economic activity?
A Spanish company will have an economic activity when there is self-organisation of the means of production and human resources or one of both with the aim of producing or distributing goods or services.
The closure of the accountancy books of a company in Spain
By WeLex, your efficient accountant in Marbella.
After the start of a new year, it is normal to wipe the sheets clean, but in accounting, this is not possible. Although the accounting year ends – as a general rule, on December 31 – in Spain it is not until July, with the filing of the company tax, when we can finally erase the finished year.
The closure of the accountancy books in Spain
Therefore, the accountant of your company in Spain should work hard at the end of each finantial year in order to start the procedure to close the accountancy books. In general, it is appropriate to point out the existence of three stages of great complexity and precision that constitute the phases of accounting closing and fiscal closure. These are:
1º Accounting closing.
2º Presentation of accountancy books and annual accounts in the Mercantile Register.
3º Presentation of Spanish company tax form.
To better understand its performance today, we are going to focus on accounting closing, and, in subsequent blogs, we will be looking more closely at the presentation of accountancy books and annual accounts in the Mercantile Register and the presentation of company tax.