SAS, SASU, are you looking for information about your accounting obligations? Here they are!

Are you the head of a simplified joint stock company (SAS) or a single-member simplified joint stock company (SASU), and would you like to know all the SAS accounting obligations, or SASU accounting obligations, that apply to you?

Whether you are the director of a simplified joint-stock company or a single-member simplified joint-stock company, this article summarises your various obligations.

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The obligation to keep regular accounts

An SAS or SASU, like any other company, is legally obliged to keep regular and accurate accounts.

This includes the following requirements

• the chronological recording of all transactions affecting the company's assets and liabilities:
  • purchases and sales
  • banking transactions
  • expenses, etc. ;
• drawing up an inventory, at least once a year, detailing each asset and liability that makes up the company's assets and liabilities, and their value;
• drawing up the annual accounts at the end of the financial year;
• drawing up invoices in accordance with precise rules and formalities, such as the inclusion of compulsory information, for example;
• archiving and keeping accounting documents and other supporting evidence for a statutory period of 10 years.

☝ To facilitate the SASU's accounting, it is also necessary to open a bank account in its name when it is set up (under the French Commercial Code).

Mandatory books of account for SAS and SASU

To manage the accounts of an SAS, like an SASU, you need to keep up to date and be able to present various mandatory accounting books, which may be in electronic format:

• the journal book, also known as the accounting journal, which records each accounting operation chronologically and classifies current entries by type (purchase, sale, bank, etc.) ;
• the general ledger, which details all transactions (debit/credit) and breaks them down by account number, in accordance with the company's chart of accounts,
• the inventory book, which records all the assets and liabilities resulting from the inventory.

☝️ The obligation for a SAS or SASU to keep an inventory book has been lifted for accounting periods commencing after 1 January 2016.

Drawing up the annual accounts of a SAS/SASU

With regard to the preparation and keeping of the annual accounts, the SAS and SASU concerned must provide at the close of the accounts :

• a balance sheet, which provides an overview of the assets of the SAS or SASU, i.e. its assets (what it owns) and its liabilities (what it owes) ;
• a profit and loss account, which lists the company's income (revenue or sales) and expenses (expenditure) over an accounting period;
• a legal appendix, in the form of an explanatory note, which explains the balance sheet and profit and loss account.

☝️ There are certain simplifications concerning the annual accounts for SASs and small and medium-sized SASUs, which are detailed below.

Appointment of an auditor

Not all SASU and SAS companies are required to appoint a statutory auditor to carry out a legal audit of the accounts.

The obligation applies in the following cases:

• when the SAS or SASU exceeds two of the three thresholds below, at the close of a financial year:
  • 4 M€ balance sheet total,
  • 8 million in sales excluding VAT,
  • 50 employees.
    
• when the SAS or SASU belongs to a group and controls or is controlled by one or more companies.
  
• if the request is made by one or more partners:
  • to the company when they represent at least 1/3 of the share capital;
  • to a judge when they represent at least 1/10 of the share capital.

Simplified accounting for an SAS or SASU

Under what conditions?

Depending on their annual turnover, certain SAS and SASU companies can benefit from simplified accounting. These are companies whose turnover :

• do not exceed the threshold of €818,000 for activities involving :
  • sale of goods
  • sale of food to be taken away or consumed on the premises,
  • the provision of accommodation;
• 247,000 for all other services.

Super-simplified bookkeeping

If you fall into one of these categories, you can opt for cash accounting:

• only cash receipts and disbursements (bank statements) are recorded during the financial year,
• receivables and payables are recorded at the end of the financial year.

ℹ️ These simplifications apply to SAS and SASU ( simplified joint stock company) companies subject to the real simplified tax regime. The number of accounting entries is significantly reduced.

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SAS, SASU: how do you meet your accounting obligations?

Using a chartered accountant

Do SAS and SASU companies have to have a chartered accountant? The answer is no. The services of a chartered accountant are not compulsory, but they are strongly recommended, in particular to :

• help you set up your business,
• help you draw up your annual accounts,
• the advice they can give you, and the guarantee that your accounting statements are correct.

If the services of a chartered accountant seem out of reach to you, have you thought about an online chartered accountant for SAS or SASU? A hybrid solution combining a software platform and the personalised services of a chartered accountant, it is particularly suitable for small businesses.

Doing your own accounting for an SAS or SASU

Is it possible to do your own accounting for an SAS or SASU? The answer is yes, although the administrative formalities, such as drawing up the annual accounts and filing a copy with the commercial court registry, are often entrusted to a firm of chartered accountants.

Will you be doing your SAS accounting in Excel?

That's a possibility. However, to ensure automation and compliance, you should be aware that accounting software is a more attractive option. You can do your SAS accounting online, and manage the entry of your accounting entries yourself right up to your closing.

Which option do you choose to comply with your accounting obligations?