Reliable accounting service for startups, ventures and corporations in Spain.
Accounting as the most important service to ensure a business' financial stability.
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What is Accounting?
A system of control and registration of expenses and income and other economic operations carried out by an entity.
Read our frequently asked questions, we could have answered your question already?
How can Accounting Services help your business?
Accounting is a source of information that can bring great advantages to the company:
- It allows us to know the cost of production of a service or product.
- We can know the current financial situation of the company
- To maintain control of the expenses and incomes and to know which ones we can reduce, suppress or promote.
- Calculate correctly the taxes to be paid.
Keeping a good accounting will make these data fit the reality of the company, which will allow us to have a better basis for making, before it is too late, decisions about the future of the company.
On the other hand, if the accounting is not correct it can result in a bad calculation of the taxes with its respective sanctions.
HOW CAN OUR LAWYER HELP YOU?
As mentioned, proper bookkeeping is very important for decision making and for the correct payment of taxes. That is why it is advisable to put yourself in the hands of a professional, who will advise you in the decision-making process as well as help you to interpret the accounting data. In addition, it will also help you to avoid problems with the tax authorities by paying taxes correctly.
What is included in our service?
- Prepare the client’s accounting according to Spanish and European accounting standards.
- Prioritize the client’s needs and we will be at your disposal to solve any kind of issues that may arise.
- Preparation of the Consolidated Balance, the Trial Balance and the Income Statements. Review and consultation services of the corresponding accounting.
- Providing on a monthly or quarterly basis General Ledger, Balance Sheet and the Profits and Loss for the accumulated year or the corresponding to the period.
Meet your Accounting experts
Tax and accounting specialist
Tax and accounting specialist
Clients assisted in 2020
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Lexidy Law Boutique is a modern, dynamic, and innovative law firm. We always put customers at the center of our work and do our best to give an exceptional experience. Our expertise in Spain and Portugal allows us to solve complex problems thoroughly and cut all the risks before they may happen.
Frequently Asked Questions
1. Does every company need financial accounting?
Yes, according to article 14 of the commercial code, every businessman must keep orderly accounting records appropriate to the activity of his company, allowing a chronological follow-up of all his operations, as well as the periodic preparation of balance sheets and inventories.
2. How does the income statement get built?
The income statement is formed by the difference between all the company’s expenses and income during a determined period of time, generally 1 year.
3. When do accountants prepare the financial statement in Spain?
Within three months following the end of each fiscal year, the Directors are obliged to formulate:
-the Annual Accounts,
-the management report, and
-the proposal for the application of the result.
The consequences of failing to comply with these obligations are very serious for the Directors.
How to do accounting for my small business?
Small companies will be subject to small business accounting if they meet two of the following requirements: they do not exceed an annual turnover of 8 million euros, do not have more than ten employees on average and do not have assets of more than 4 million euros.
It differs from the accounting of large companies in the simplification of registration criteria and a more simplified structure of the annual accounts.
5. What do Financial Statements tell about a company?
Correctly calculated financial statements provide us with a lot of information about how the company is developing, if they are facing liquidity problems, if there are debt matters or, on the contrary, if we can get into debt to boost the business, etc…
It is as important to obtain good data as it is to know how to interpret them correctly.
6. How do we keep the accounting up to date?
The only concern of the client will be to send us all the documentation (invoices received, invoices issued, bank statements and any other documentation that may be important for the client) related to the company on a monthly basis and we will take care of the rest.
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Rua Joaquim António de Aguiar n.º 43, RC Esq, 1070-150