What are the accounting obligations of a merchant?
The company management is an exercise that requires strategy. Especially when it comes to accounting, the requirements are still enormous as it affects a sensitive sector. When you are a trader, there are accounting obligations that you must comply with. How to ensure the accounting of a store? What are the annual documents to mobilize?
What should the accountant bond trader understand?
When you are in charge of a business, there are accounting obligations that you must comply with. These obligations come under a real, normal and simplified tax regime, under penalty of criminal sanction if the documents are inaccurate or fictitious (€ 500,000 fine and 5 years' imprisonment.
Here are some accounting obligations of a trader?
We have cited here some accounting obligations to which the company must submit. The first condition is that the company must be registered with the Trade and Companies Register. Then the merchant has the obligation to register all the movements of the company's assets (purchases, sales, loan repayments, etc.) chronologically (Book-Journal). He must also establish an invoice for each sale of goods or services in particular. This has legal, commercial, accounting and tax effect.
The company must also make a physical inventory in order to verify the assets and liabilities of the assets of the company at the year-end date, at least once a year and draw up the annual accounts of the company at the end of the year. of each financial year thanks to the accounting documents (balance sheet, income statement, appendix, etc.) and to the inventory carried out previously. Having a professional bank account in a financial establishment or a check office is also the other requirement that the entrepreneur must comply with. It is also necessary to proceed every year to the filing of the company's annual accounts with the Commercial Court.