Who is obliged to keep an accounting control

When starting an activity or business, sometimes we are left with the question of whether or not it is compulsory to keep a regulated control of all the income and expenses of the organization. This fact varies according to each country and Administration, therefore it is necessary to know the legislation and obligations that exist; in the case of Spain, it is Article 25 of the Commercial Code that regulates this control of the accounts. In this article, we explain in more detail who is required to keep track of accounting.

one

As we pointed out in the introduction, each State will have its own regulation as far as this question is concerned. So you must refer to the legislation of the country where you are to check who is required to keep track of the accounting.

two

In the case of Spain, according to Art. 25 of the Commercial Code (modified by Law 19/1989), " Every entrepreneur must keep an orderly accounting, appropriate to the activity of his company that allows a chronological tracking of all its operations, as well as the periodic elaboration of balance sheets and inventories. It will necessarily carry, without prejudice to what is established in the laws or special provisions, a book of Inventories and Annual Accounts and another Diary . "

3

In this way, both limited, anonymous, labor and cooperative societies must register all the operations they carry out in order to know their assets and calculate the results.

4

Even so, it should be noted that, in general, those companies that do not operate through commercial companies are not obliged to keep an official accounting, it is therefore the self-employed.

5

The objective of this accounting register is internal and external, that is, it will help those in charge of this economic activity to know the status of their accounts at all times; and, at the same time, it is a control mechanism of the Tax Administration, to guarantee that the corresponding is being declared and the correct taxes are paid.

6

That is why keeping the accounts of your organization is so important and we must do it in a comprehensive manner. In case you do not have enough knowledge, we recommend that you opt for an online accounting manager, such as the one offered on the Tugestionline website, a simple tool to take the accounting management of your business personally, together with the labor, tax and accounting advice you need.