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10 tips for ending the year on a high note

(and start the next one with a bang!)

An end of year without obligation would not really be an end of year: finding gifts for your brother-in-law, supporting your mother-in-law, filing your tax return with the registry, declaring your VAT, paying the leave of the employees of the agency… It is not clear for you? OOTI reminds you of lifesaving gestures as the New Year looms.

If you are the head of a architecture agency, or in charge of accounting issues, and you don't see very clearly among all the legal obligations, rest assured: it's normal.

ADVICE FROM OUR ACCOUNTANT 👇

To enlighten us, we contacted Mariam Sbibih from Fox Audit. She has the double advantage of being sympathetic and accountable.

1. What are the legal obligations of the period in terms of accounting?

They are fiscal and accounting. Accounting, you must draw up annual accounts, in the form of a balance sheet and profit and loss accounts. In some cases, depending on the thresholds applicable to your articles of association, the accounting annexes may be mandatory.

 These documents must then be approved at a General Meeting organized within 6 months of the closing of the accounts. The whole, accounts and Minutes of the General Assembly, is then filed with the registry.

From a tax perspective, the end of the year marks the deadline for:

  • VAT, if the company is subject to it and if it has not monthly paid its payments
  • Statements of corporate tax installments
  • Declaration of Exchange of Goods (DEB)
  • European Declaration of Services (ESD)
  • The tax return
  • Corporate income tax return

2. What are the associated risks if these deadlines are not met?

Failure to file mandatory declarations exposes the company to penalties or even increases (VAT, bundles, filing with the registry, etc.).

3. Are there good practices to adopt?

Yes ! For example, it is necessary to ensure that the accounts are kept properly throughout the year, month by month, in order to avoid work that can prove to be painful when drawing up the accounts and the bundle. in the first quarter of the following year.

4. What are the other highlights of the year?

The first half of the year is particularly important since companies have until May to file the tax return, close the balance sheets, hold their General Meeting and file the documents with the registry.

5. How to put together the action plan for the coming year?

Too often considered as a time-consuming exercise, a well-laid action plan should enable the strategic objectives set to be achieved.

To do this, a few steps must be followed:

  1. Involve teams from the start: it is the assurance of sharing with everyone the strategic vision and the steps to be taken to achieve it.
  2. Do not hesitate to detail each measure: this makes it possible to clearly state things in order to better follow them and refine the workload plan with precision. Recruit a new person, improve the agency's website, develop your prospecting? Beautiful ideas that translate operationally into numerous actions. To note them is to anticipate them.
  3. Define a timeline: the year is 12 months, sometimes loaded, sometimes less. Mark it with cross-functional projects and impose follow-up points. Where do you want to be at the end of the first trimester? Only you have the answer to this question.
  4. Assign resources: Many action plans fail because adequate human and financial resources are not devoted to carrying out the initiatives. Be sure to allocate sufficient time, support, training and budgetary resources.

6. Wish a Happy New Year!

Between the tax obligations and the development of the agency's action plan, the recommendation may seem surprising. And yet, wishing a happy new year is an excellent way to remember the good memories of a former project owner or a partner with whom you have not exchanged for a while.

No need to worry too much: a photo of a great achievement by the agency will do the trick. Platforms like www.canva.com allow you to produce a clean visual in a few clicks!

OOTI TIPS 💙👇

Here are 4 tips from Paul Rattanavong, Customer Success Manager, to take advantage of OOTI:

7. Be current 

Through a glance at your OOTI dashboard, take a tour of the projects 

Are the schedules and progress updated? Is your CA up to date?

8. Pay bills

OOTI also facilitates all the payment part of the invoices 

Have any of your bills been paid since? Add it payment!

9. Prepare your budgets

Before the end of the year, prepare your budgets, your general expenses and anticipate your expenses for 2022. 

Manage your forecast turnover on good dynamics!

10. Update times and holidays

Don't forget to manage teams, holidays and time... 

Make a final reminder to your teams in their time entry in order to close the year with serenity on your project monitoring! 

IN SUMMARY

1 – Know your obligations

2 – Know the accounting deadlines

3 – Adopt good practices

4 – Prepare important dates

5 – Draw up the action plan for the coming year

6 – Wish a happy new year!

7 – Be up to date

8 – Pay your bills

9 – Prepare your budgets

10 – Update times and holidays

Discover OOTI, the 100% software dedicated to the administrative and financial management of architectural agencies.