The most difficult issue in managing a limited liability company is how to maintain an LLC accounting. The company must decide on the taxation system: a simplified system, the main one or bookkeeping under a different regime - a single tax on imputed income. You need to know which of these systems which documentation should be submitted to the tax office. The balance sheet is one of these documents - this is one of the three main forms of financial statements. The remaining two are a book of income and expenses (with UTII - a declaration) and a profit and loss statement.
The balance sheet is “summed up” every year and every quarter. The company must approve the LLC balance sheet at the general meeting of participants. It surrenders under all systems and taxation regimes, except for simplified one. If the company is a small business, it can keep accounts under the simplified tax system. With the simplified tax system, a balance is not necessary. However, this “rule” will change when the new accounting law comes into force with the beginning of 2013, and the current one ceases to exist.
LLC balance sheet is compiled in a special form, form No. 1. Form No. 2 is already an income statement. Forms can be taken from the tax office or downloaded from the official website of the local tax authority. It is more convenient to draw up the balance immediately in electronic form, you can remove the lines on which the company does not appear to have anything (neither assets, liabilities, nor liabilities).
Quite often in the form of a balance sheet it is difficult to reflect all the nuances, for this a new column was introduced in each of the existing forms - “explanation”. In this column, you can specify a document explaining the expenses and income for the past year. For example, the same income statement or explanatory note. In the latter, one can reflect the situation in the market in which the enterprise finds itself.
The main indicators of balance include:
- assets (intangible in the form of developments and tangible in the form of property),
- liabilities (loans, debts, liabilities to customers; partners);
- liabilities (authorized capital, reserve fund). It is possible to create separate funds, for example, a payroll fund. Such funds are formed either in accordance with the law, or in accordance with the constituent documents. It is good if the internal documents of the LLC reflect the creation of such funds. Otherwise, a fine ...
Thus, the balance sheet of the LLC is reduced to the transfer of funds at the disposal of the company, all debts of the company. This list is indicated in numbers (in rubles) at the beginning of the year (or quarter) and at the end of the year (quarter). By the last day of the month (which is 30 or 31), the quarterly balance should already be delivered.
Before compiling and checking the annual balance sheet, the company is required to conduct an inventory. According to the law, a company is obliged to carry out an audit of property in the event of a reorganization, or similar changes.
The balance sheet allows us to conclude about the viability of the organization in material terms. The conclusion suggests itself, you just have to look at the assets and liabilities section. According to them, it is clear whether the company is able to cover its debts, fulfill obligations (liquidity). The “liabilities” section looks more clearly, for example, if the organization has significantly increased its authorized capital, and not at its own expense, but at the expense of profit. It can be seen by the formed reserve funds, by their number. But in fact, all the data in the form are thoroughly analyzed, and the solvency of the enterprise and liquidity are determined by special formulas. Therefore, you should carefully consider its completion, reflect the real numbers. The balance sheet of LLC is an important document of the organization.