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You are reading a preview. Create your free account to continue reading. Sign Up. Upcoming SlideShare. Embed Size px. Start on. Show related SlideShares at end. WordPress Shortcode. The answers here! The fight against tax fraud and accounting errors has led to the creation of a tool to better control the accounting year of companies: the FEC. The accounting records file is a computerised document that is standardised nationally and which gives an account of all the accounting information of a company for a specific financial year.
This document must be handed over to the tax authorities when they carry out an audit. The automation and digitalisation of accounting information provides better visibility and saves time : errors and possible fraud are detected more quickly and the administration no longer has to visit companies to check their accounts.
The FEC presents a chronological list of operations carried out by the company. It is published on a non-rewritable medium. It must comply with the administration's standards and be accompanied by an explanatory note. The accounting entries file is a document in Excel format that meets the criteria set out in the Article A47 A-1 of the book of tax procedures and to the standard ISO as regards its recording medium.
An explanatory note may be attached to the accounting records file to make it easier to read and to provide more information on its content. It is not compulsory, but it is very useful for clarifying specific points and demonstrating the good faith of professionals to the DGFiP Directorate General of Public Finances. A company must establish a bookkeeping file when it is subject to corporate or income tax in the following categories:. Good to know: associations that have a commercial or profit-making activity, even if it is incidental, have two possibilities:.
To put it simply, if a professional is likely to be subject to a tax audit and uses IT to enter its data, it must be able to submit a FEC in the event of an audit by the tax authorities.
Introduced in by a rectifying finance law, the accounting records file is the only way for companies to present their accounts. It must therefore be handed over to the DGFiP auditor by the company within 15 days of being informed of the audit. In order for DGFIP agents to check the tax returns of professionals, the submission of a proper accounting file is essential.
Indeed, the control is carried out with the help of an auditor software to analyse precisely the exercise of the companies and thus their conformity with the established tax return. This auditor makes it possible to accurately identify the slightest inconsistency or anomaly, both in terms of the content and the form of the file provided.
If irregularities are found, corrections can be made and the amount of taxation is then reassessed. They may also be subject to a financial penalty if they prove to be too large.
The publication of the accounting year of companies in digital form is a very good tool for reporting on their carbon footprint and therefore the level of their environmental commitment. The GHG analysis tool developed by Greenly works in particular by integrating this file into its database. If one of these breaches is found, the company concerned is liable to a fine of EUR 5 To establish a perfectly compliant FEC, the company can enter it directly from its accounting software.
Indeed, the majority of software packages have a function that enables them to edit a file of accounting entries that meets the standards of the tax authorities.
It is also important to ensure that the fields in the table are correctly filled in according to the coding that applies to them:. In order to assist professionals in the edition of the FEC, the DGFiP has made available to them a free software which allows them to check compliance with the standards in force: " Test compta Dermat ". Thus, this checker analyses the file and informs of the anomalies that must be corrected for it to be valid.
Now that you know everything about accounting records, you are safe from unpleasant surprises that can arise when auditing your company's financial statements. In addition, you can integrate your document with the Greenly analysis tool Greenly analysis tool to draw up your company's carbon footprint. So, let's make a commitment together?
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