Read this article to learn the bookkeeping requirements for Spanish companies, and how and when the books must be submitted to the relevant authorities.

What types of books must Spanish companies keep?

By law, Spanish companies must maintain two types of books: accounting books and corporate books.

Accounting books

Spanish companies are required by law to “keep an orderly accounting.” They must keep track of all their financial transactions as well as prepare regular financial statements.

Specifically, the law requires businesses to keep the following books:

  1. Book of inventories and balance sheets: Bookkeeping requirements for Spanish companies require firms to prepare detailed accounts of their inventories and balance sheets. These must be updated quarterly and follow the guidelines established in Spain’s General Accounting Plan. Spain’s General Accounting plan adheres to EU standards.
  2. Daily book: You must record all the daily financial operations of the company in this book.


Corporate books

Spanish companies are also obliged to keep corporate books, which record decisive aspects of corporate life. These are:

  1. The book of minutes. This must record all the resolutions adopted by the shareholders at the Annual General or Special General Meetings and by the company’s other collective bodies.
  2. The libro de socios (shareholder book). This must be kept by all Limited Companies (S.L). Bookkeeping requirements for Spanish companies stipulate that it must contain all initial, and subsequent, contributions of each and every shareholder. All Sociedad Anónima Companies (S.A.) must keep a book of registered shares. This basically has the same functionality as the shareholder book. The difference is that the shareholder of the Public Limited Company is detailed in it.
  3.  Sole proprietorships must keep a book recording the contracts concluded between the sole partner and the sole proprietorship, and a book recording the decisions of the sole partner.


Where should these books be submitted?

These books must all be submitted digitally, to the Spain’s Mercantile Registry. This is a database for both  companies and people who participate in commercial activities. Anyone who falls under these categories and is involved in commercial trade in Spain must be registered at the Spanish Mercantile Registry.

After you are registered with the Spanish Mercantile Registry, you submit your books on a regular basis. When you submit your books, the website generates a digital format of each book.

When should the books be submitted?

Bookkeeping requirements for Spanish companies stipulate that alll books must be uploaded within a maximum period of four months after the end of the fiscal year. For example, if the fiscal year of the company coincides with the calendar year, the deadline for submission would be April 30.

On the other hand, entrepreneurs are obliged to keep the books for a period of six years from the last entry made in the books.

Do you need help setting up your books for your Spanish company? Or do you want to learn more about the bookkeeping requirements for Spanish companies? If so, please CONTACT US TODAY to get answers to all your questions.