Choose the closing date of an accounting year
Verified 01 September 2022 - Directorate for Legal and Administrative Information (Prime Minister)
You are a Head of company and you want to know when you need to close your fiscal year. The date is chosen when you register your company. We'll outline the rules for you.
General case
The choice of the end date of the accounting year is free. You can decide to close your company's fiscal year at any time.
On the other hand, the exercise must last 12 months. In the first year, it may exceptionally be of a duration of less than or greater than 12 months up to 24 months.
The date of 31 December may be used as the closing date of the accounting year because it coincides with the end of thecalendar year. A date ending a calendar quarter (March 31, June 30, September 30) is also often chosen for reasons of simplicity.
When choosing the closing date of your accounting year, you should keep in mind that this entails many other accounting and tax obligations: annual inventory, preparation of social accounts within 6 months of closing and tax books, etc.
Warning
You cannot choose a variable date (for example, the first Monday of a month).
Liberal profession in BNC
You are subject to the Non-Commercial Profit Scheme (NTB). You are required to close your fiscal year at the December 31.