The Sociedad de Responsabilidad Limitada (SL), as a commercial company in Spain, is subject to a series of accounting and registration obligations. These are based on the Commercial Code, the Capital Companies Act and the General Accounting Plan (PGC). The correct keeping, legalisation and preservation of accounting and company books not only guarantees regulatory compliance, but also transparency, legal certainty and the trust of third parties such as investors, banks, the tax authorities and auditors.
Mandatory accounting books
Journal
This records all the company’s financial transactions in chronological order. Entries may be grouped by quarter, provided that equivalent details are included in other auxiliary records.
Inventory and Annual Accounts Book
This must include:
- Opening balance sheet for the financial year.
- Trial balance (sums and balances), at least quarterly.
- Final inventory for the financial year.
- Annual accounts: balance sheet, profit and loss account, statement of changes in net equity, cash flow statement (where applicable) and notes to the accounts.
Mandatory company books
Minutes book
This records the resolutions of the General Meeting, administrative bodies or sole administrator: notice of meeting, attendees, votes, decisions and signatures of those responsible.
Shareholders’ register
In a limited liability company, this book reflects the ownership of shares, transfers, encumbrances, capital increases or reductions. In the case of single-member or public limited companies, equivalent books are used (contracts with sole shareholders, registered shares, etc.).
Additional tax books (not always mandatory)
Although they do not require legalisation, they can be very useful for more detailed tax control:
- General ledger.
- VAT books: invoices issued, received, investment goods, intra-Community transactions.
Legalisation and filing of books
Legalisation in the Commercial Register
- This is done electronically (paper only in exceptional cases of technical failure).
- Deadline: within four months of the end of the financial year. For SLs with a 31 December closing date, the deadline is 30 April (if this is a public holiday, it is moved to the next working day).
- Before use, the first page and each sheet must be stamped and certified by the Registry.
Filing of annual accounts
- After approval by the General Meeting, they are filed with the Commercial Registry. The deadline for financial years ending on 31 December 2024 is 30 July 2025.
Retention of books
- Mandatory retention is six years from the final entry, according to Article 30 of the Commercial Code.
- Accounting documentation, supporting documents, invoices and tax records must also be kept for this period, or for up to four years for tax purposes.
Risks and penalties for non-compliance
- Failure to legalise or file
- Failure to legalise does not result in automatic registration, but it may expose the directors to liability.
- Tax penalties for inaccuracy or omission may be 1% of the omitted charge or credit, with a minimum of £150 and a maximum of £6,000.
- Errors, alterations or poor accounting
- The use of unclear abbreviations, deletions, false entries or manipulations may result in fines, surcharges and loss of probative value.
- Liability of administrators
- Administrators may be penalised if their actions or omissions harm the company. Non-compliance may give rise to civil liability for damages.
- Operational problems
- Loss of credibility with banks, investors, suppliers or the tax authorities.
- Obstacles in audits, inspections and processes for applying for financing.
- In the event of insolvency proceedings, the insolvency is considered culpable if the accounts have not been kept properly.
Applicable accounting principles
Accounting must comply with the principles of the PGC, including the following:
- Going concern: assumes continuity.
- Accrual: records income and expenses when they occur.
- Consistency: consistent criteria over time.
- Prudence: only realised income is recognised, while risks are anticipated.
- True and fair view: the financial statements must give a true and fair view of the company’s performance.
Clarity, order, no blank spaces, no crossings out and the corresponding date and signature are also required.
Advantages of professional management with Gutiérrez Pujadas & Partners
Hiring a professional accounting service offers multiple advantages:
- Rigorous bookkeeping: journal, inventory, annual accounts, register of members, minutes book and tax records.
- Online legalisation and filing within the legal deadlines.
- Compliance with PGC criteria, guaranteeing reliable and audited accounting.
- Risk reduction: penalties, liabilities, loss of probative value, etc.
- Ongoing tax advice: adapted to new tax and commercial developments.
- Peace of mind and focus on your business: freedom from administrative burdens, dedication to growth.
With more than 30 years of experience, Gutiérrez Pujadas & Partners has an expert team specialising in limited companies and small businesses, offering a comprehensive monthly service to ensure the accounting, legal and tax health of your project.
For a limited company, keeping orderly accounts and complying with commercial registries is not an option, but a legal obligation with a real impact on daily activity and the viability of the business.
Poor accounting, failure to legalise books or delays in filing accounts can lead to tax complications, penalties and lost growth opportunities.
A professional service such as that offered by Gutiérrez Pujadas & Partners ensures:
- Accounting records in accordance with regulations.
- Legalisation and timely filing of books.
- Proper long-term document storage.
- Protection against penalties, liabilities and loss of image.
- Proactive legal and tax advice.
Trust us
Do you want to ensure impeccable accounting and comply with all legal requirements?
At Gutiérrez Pujadas & Partners we offer you:
- Complete and professional bookkeeping.
- Legalisation and filing in a timely manner.
- Adaptation to the General Accounting Plan.
- Presentation of accounts and taxes within the deadlines.
- Constant advice to minimise accounting and tax risks.
Contact our team now and protect your limited company with solid and personalised accounting management. Direct and friendly service so you can focus on what really matters: growing your business.