What accounting requirements do your bylaws impose?

By Pierre Belhache

July 02, 2021 - 8 mins reading

Every company has its own accounting obligations, depending on its legal status. Let's take a look at the different accounting requirements for your company statut🕵️

SARL, EURL, SAS and SASU 📃

These companies must :

Record chronologically all flows/transactions that have an impact on the company's assets (sales, purchases, banking transactions, cash, etc.).
Set up a billing system that complies with certain criteria (e.g. compulsory information)
Carry out an inventory at least once a year, in order to physically check the existence and value of the assets and liabilities of its assets.
Keep accounting records and supporting documents for 10 years

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However, SARLs and EURLs with a simplified tax regime benefit from lighter accounting requirements. They need only :

Set up a cash accounting system for their fiscal year
Recognize receivables and payables only at the end of the accounting period.

Sole proprietorship 🧑‍💻

The accounting obligations of a sole proprietorship will depend on the nature of its business and its tax regime.

Sole proprietorships with a normal real income tax regime (BIC ) must keep full accounts:

Record chronologically all flows/transactions that have an impact on the company's assets (sales, purchases, banking transactions, cash, etc.).
Set up a billing system that complies with certain criteria (e.g. compulsory information)
Carry out an inventory at least once a year, in order to physically check the existence and value of the assets and liabilities of its assets.

Sole proprietorships with a simplified tax regime (RSI ) benefit from lighter accounting requirements. They must :

Set up a cash accounting system for their fiscal year
Recognize receivables and payables only at the end of their accounting period
Perform a simplified valuation of inventories and work-in-progress
Centralize accounting entries on a quarterly basis
Deduct fuel costs on a flat-rate basis

Sole traders with a micro-BIC or micro-BNC regime simply need to keep track of their income and expenses in separate registers.

Sole proprietorship with limited liability 👤

Micro-EIRLs have very light accounting obligations: they only need to draw up a receipts book and a purchases register.

EIRLs with a simplified actual system must :

Set up a cash accounting system for their fiscal year
Draw up a simplified inventory valuation
Centralize accounting entries on a quarterly basis
Deduct fuel costs on a flat-rate basis

EIRLs operating under a normal real-estate regime are required to keep regular and accurate accounts. They must :

Record chronologically all flows/transactions that have an impact on the company's assets (sales, purchases, banking transactions, cash, etc.).
Set up a billing system that complies with certain criteria (e.g. compulsory information)
Carry out an inventory at least once a year, in order to physically check the existence and value of the assets and liabilities of its assets.
Keep accounting records and supporting documents for 10 years.

Associations 👫

An association's accounting obligations depend on its size, activity, financing and whether or not it is profit-making.

An associative chart of accounts (which is an adaptation of the general chart of accounts) is required for :

associations receiving more than €23,000 in public funding;
associations funded by local authorities for more than 50% of their budget or for more than €75,000;
associations receiving public subsidies from the State or local authorities in an annual amount exceeding €153,000;
associations with an economic activity and meeting at least two of the following three criteria: balance sheet in excess of 3.1 million euros, balance sheet in excess of 1.55 million euros, workforce in excess of 50 employees;
associations engaged in commercial activities and subject to taxation;
associations of public utility ;
associations that seekapproval from a public authority and are therefore subject to an agreement setting out the conditions of approval (unless a law specifies these conditions);
associations whose exclusive purpose is assistance, charity, scientific or medical research, and which are recognized as such by decree;
associations managing establishments in the health and social sector;
associations ofassociations receiving payments through intermediary associations;
associations appealing to public generosity;
associations issuing securities;
certain sports associations and groups ;
political groups and election financing associations ;
associations in recovery or liquidation.

This concerns less than 5% of associations, but for all that, it is strongly recommended that all associations keep a chart of accounts for the smooth running of the organization. 💯

Summary

Companies operating under a normal real-estate regime

Bonds	SARL, EURL, SAS and SASU	EI (BIC)	EIRL
Record chronologically all flows having an impact on the company's assets	✅	✅	✅
Set up a billing system that meets certain criteria	✅	✅	✅
Carry out an inventory once a year/minimum	✅	✅	✅
Keep accounting records and supporting documents for 10 years	✅	❌	✅

Companies with a simplified tax regime

obligations	SARL, EURL, SAS and SASU	EI (BIC)	EIRL
Set up a cash accounting system for their fiscal year	✅	✅	✅
Recognize receivables and payables only at the end of their accounting period	✅	✅	❌
Perform a simplified valuation of inventories and work-in-progress	❌	✅	✅
Centralize accounting entries on a quarterly basis	❌	✅	✅
Deduct fuel costs on a flat-rate basis	❌	✅	✅