• Financial statements

    Why you need to do annual financial statements.

    You need to do annual financial statements for your company every year. This include private companies, close corporations, sole proprietors, non profit companies and partnerships. When to do financial statements. The financial statements have to be compiled after the financial year end of the company. The statements will include transactions for a period of 12 months. Except for the year in which the company was started, then it will only include for the number of months leading up to the first financial year end. The majority of companies have February as a financial year end, but any month can be chosen when the company is registered. This option is not…