Is my bookkeeping export enough for the annual accounts?
No. A bookkeeping export contains figures, but not always the agreements and estimates needed for complete Dutch annual accounts.
The short answer
No. A bookkeeping export contains figures, but not always the agreements and estimates needed for complete Dutch annual accounts.
Basis: art. 2:10 and 2:362 DCC
Which bookkeeping export do you need?
An export is the start of the year-end work. The figures show what has been booked, but do not by themselves say why an amount is right. A loan agreement, inventory valuation or dispute with a customer may sit outside the bookkeeping package. You must take that information into account before you regard the annual accounts as finished.
First check which export you have received. An overview of turnover and costs does not contain the balance sheet accounts. A trial balance usually shows the balances, but not all movements and supporting documents. Ask for the export for the full financial year, with account numbers, descriptions and a recognisable sign convention. Check that the latest corrections have been processed and that the opening balance sheet agrees with the prior year. A difference between an old export and a new bank balance need not be a calculation error; it may be a difference in reference date. So note the creation date and the selection used with the file.
Which supporting documents are often missing?
Add support for items that do not follow directly from an invoice. Think of the depreciation schedule, ageing of receivables, inventory count, loan agreements and tax calculation. Also go through obligations not yet booked as a liability, such as rental agreements, guarantees or a dispute. Which information is ultimately processed or explained depends on the reporting framework and the size class. Art. 2:362 DCC is the starting point for the required view. The export cannot assess whether a receivable is still collectible. That requires facts that the board or the entrepreneur must supply.
Make an overview of reconciliations between the records and external documents. Reconcile the bank at the balance sheet date, compare the payroll records with the ledger and explain the difference between VAT returns and the VAT accounts. Investigate journal entries without a clear description. For a holding, also request the annual figures of participations and the reconciliation of intercompany positions. Keep each correction with a reason and, where necessary, process it back into the bookkeeping. The result of this step is a traceable final position, not just a file that a reporting program can technically read in.
When is the file complete?
Finally, supply the articles of association, relevant board resolutions and the previous final annual accounts to whoever prepares the report. Those documents help with financial year, capital, appropriation of result and comparison. Agree who may still make changes after the export and how they are communicated. If a supplier asks only for a trial balance, that does not mean that no further questions can follow. For a simple BV the file may remain limited, but there too private payments or a tax correction can be decisive. A short delivery list per balance sheet item prevents you from discovering only at signing which information is still missing.
Sources
Frequently asked questions
Is a profit and loss overview enough?
No. You also need balance sheet data and support for the line items.
Why are bank statements still relevant?
You can use them to check that the booked bank balance agrees with the external balance.
Which documents do you supply besides figures?
Think of the previous final annual accounts, relevant contracts and resolutions.
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Preparing Dutch annual accounts?
Your first set of annual accounts is free, for every size class. Create an account and prepare the annual accounts of your Dutch company under Title 9 of Book 2 of the Dutch Civil Code.
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