How to do the accounting of a SASU?

Like all companies (except micro-enterprises), the accounts must be kept with rigor and transparency to meet the tax requirements of French territory. The Société par Actions Simplifiée Unipersonnelle, or more commonly called SASU, is no exception to this custom and must respect certain accounting obligations to be in good standing, as recommended by article L123-12 of the Commercial Code. What are the accounting obligations of SASUs in France? What should they respect? Overview.

SASU bank account

The SASU must imperatively havea professional bank account in the name of the company. Article L123-24 of the Commercial Code covers this accounting obligation.
First, this bank account will be able to accommodate, during the creation of the company, the social capital necessary for its constitution. Without this, the registration of the company will not be successful. This professional account then allows the SASU to respect three major accounting principles :

  • Recording of the company’s accounting movements in chronological order;
  • The annual inventory;
  • Filing of the company’s annual accounts at the end of the activity’s accounting year.

This bank account dedicated to professional activity allows the company to better manage your accounts. Moreover, in the event that the SASU uses an accountant or accountant to keep their accounts, the professional will most certainly request access to the bank account.

Accounting update

The tax authorities expect SASUs to have so-called accounting “regular, sincere and faithful”. This means that the accounts of the Société par Actions Simplifiée Unipersonnelle must be kept daily to guarantee its reliability.

This regular update also allowsavoid many mistakes and distribute the workload throughout the week. The chronological keeping of the accounts complies with the recommendations of French law. Thus, the leader of the SASU must have visibility on entries and exits, receipts and debts.

Article R123-174 of the Commercial Code requires SASUs:

  • To record each movement “operation by operation and day by day”;
  • To attach supporting documents to the recorded operations (the latter can be grouped together on the same supporting document if several of them were recorded on the same day).

It should be noted that this accounting is inherent to the simplified regime granted to this type of company.

The SASU inventory

Since January 1, 2016, the SASUs are no longer required to keep an inventory book to manage their accounts. On the other hand, each year, these companies must carry out an inventory of their assets and liabilities, and above all estimate their value.

This approach is essential because it allows the administration, when filing the annual accounts, to ensure that the company’s assets do indeed exist.

Filing of annual accounts

In France, each commercial enterprise must imperatively file its annual accounts at the end of the financial year. Once a year, the SASU files its annual accounts with the Trade and Companies Register.

These annual accounts include several very important documents:

  • The balance sheet of the SASU;
  • The income statement;
  • The appendices, allowing to explain and comment on the two previous documents.

In terms of deadlines, companies have six months following the end of the financial year to file the accounts with the Registry of the Commercial Court. The sole shareholder of the SASU, if he is also the president, does not have to approve the accounts and therefore convene a General Assembly.

A check must be attached, the amount of which varies according to the registry of the commercial court on which the SASU depends. Unless you are a small business, the annual accounts are advertising information. They can therefore be put online and consulted by interested third parties.

Is the chartered accountant compulsory?

Calling on an accountant is not an obligation for the SASU. Indeed, the sole shareholder of the company can take charge of his company’s accounting if he has the appropriate knowledge and skills. He can also call on an in-house accountant, who will intervene in the management of the accounts on a daily or at least regular basis. The SASU can equip itself with online accounting software, adapted to its core business, so the options allow simplified account management and long-term visibility.

The chartered accountant, meanwhile, allows the SASU save time and focus on high value-added tasks. The expert can also support the company in its administrative procedures, but also its development prospects, its financial plans, etc. The risk of error is limited since this professional figures is an expert in this field! However, hiring an accountant requires a sometimes substantial budget depending on the company, its activity, its size.

The SASU is a company that must respect certain accounting obligations in order to comply with French taxation. Simplified regime, the procedures are simpler for the company but are nonetheless important and essential to its proper development.

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