Do my annual accounts get cheaper if I prepare?
They can, if your preparation is usable and the price agreement reflects it. Discuss in advance which checks and documents you supply yourself.
The short answer
They can, if your preparation is usable and the price agreement reflects it. Discuss in advance which checks and documents you supply yourself.
Basis: art. 2:10 DCC; engagement and price agreements
Which documents can you prepare yourself?
Preparing yourself can limit the work of a bookkeeper or accountant, but does not automatically earn a discount. It depends on the quality of the file and the agreed price. Ask which preparation actually helps the firm. Extensive own reporting without support may even raise extra questions.
Start with clear reconciliations. Check bank and cash, make a list of open receivables and payables, and explain suspense accounts. Collect loan agreements, depreciation data and information on special events. Supply files with recognisable names and one agreed closing position. If you book more afterwards, report exactly what changed. Otherwise an adviser has to establish again which figures are final. For a simple BV this preparation can stay manageable. With complex inventory, projects or participations, discuss in advance which breakdowns are needed and what you had better leave to an expert.
How do you prevent extra repair work?
Make a list of questions for items you do not understand. It is more efficient to have an uncertain amount investigated openly than to make an arbitrary balancing entry yourself. Art. 2:10 DCC requires records from which rights and obligations can be known. Traceability is therefore more important than a trial balance without open questions. Keep supporting documents with corrections and use clear descriptions. Do not let a bank difference disappear through other costs because you think a balanced overview is cheaper. Unexplained entries can later produce more investigative work and less reliable annual accounts.
Ask how the preparation is reflected in the price. With an hours budget, less investigative work may affect the final invoice. With a fixed package amount, the same preparation may already be the starting point. Have it confirmed which work falls outside the rate and when you will be told about extra work. Compare quotes on the same delivery quality. A provider that includes cleaning up is not directly comparable with one that expects fully reconciled records. Use amounts on the same VAT basis and also look at included meetings, tax return and support after delivery.
When does the agreed price go down?
Agree a concrete delivery moment and have the firm check early that the basis is complete. Then you can still collect missing documents before the file is worked up in substance. After completion, ask which recurring errors you can prevent during the next year. Small improvements in expense claims, contract retention or current account reconciliation can be more useful than spending many hours preparing reports yourself just before the deadline. Do not count on a general percentage saving without your own experience or a quote. The real saving only arises when your preparation is demonstrably usable and the commercial agreement also passes that benefit on to you.
Sources
Frequently asked questions
Does your own preparation always give a discount?
No. That depends on the price agreement and the usability of your file.
Which reconciliation matters most?
Start with the bank, open items, loans and the previous closing equity.
Must you guess doubtful items yourself?
No. Mark them with your question and supporting document for the adviser.
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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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