The Société par Actions Simplifiée Unipersonnelle, or SASU, was created in 1999 and consists of a single shareholder. This legal form is famous for its flexibility.
Very similar to the SAS or Société par Actions Simplifiée, the transition from one legal status to the other is very simple.
SASU accounting also reveals a number of specific features that need to be deciphered.
Focus today on SASU accounting obligations!
Contents :
1. SASU: accounting obligations
2. The tax and accounting advantages of an SASU
3. Possible sanctions
First, it's important to look at the accounting requirements for a SASU.
As such, it must first keep up-to-date accounts.
This involves a number of actions, including :
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Chronological recording of all movements that may have an impact on the company's assets
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At least once every 12 months, we check the value of the assets and liabilities making up these assets. This control is carried out by means of an inventory.
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Drawing up the annual accounts based on the inventory and accounting records previously carried out.
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Retention of all accounting documents for a period of 10 years.
It should be noted that if the SASU in question falls under the "régime réel simplifié d'imposition" (simplified tax regime), cash accounting can be carried out. This is simpler to manage than conventional bookkeeping, and a definite time-saver for the entrepreneur.
In addition to the need to keep its accounts up to date, a SASU must have a number of accounting-related tools at its disposal:
Accounting books
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A diary book, which describes all the movements impacting the company's assets.
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A large book, built on the writings already present in the diary-book.
Annual financial statements
The Chairman of the SASU is responsible for drawing up the company's annual accounts for each financial year. A copy must then be filed with the Greffe du Tribunal de Commerce.
They consist of three separate documents:
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Balance sheet: this shows the company's assets and liabilities, including shareholders' equity, debts, inventories and other fixed assets.
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Income statement: the income statement shows all income and expenses for the financial year. It is the difference between these two figures that gives the profit or loss for the year. The income statement includes sales, external expenses, taxes, personnel expenses, financial expenses and purchases.
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Legal appendix : the legal appendix is a document designed to provide information and facilitate understanding of the two preceding documents. Note that the legal appendix is not mandatory for auto-entrepreneurs if they fall below at least two of the following three thresholds:
- Balance sheet: €350,000
- SALES: €700,000
- Employees: 10
Secondly, it's important to emphasize the advantages, whether fiscal or accounting.
In this respect, a number of accounting advantages can be cited
Firstly, a SASU with sales of less than €789,000 and whose main activity is commercial sales, or €238,000 if its activity is other, can benefit from accounting simplifications as well as "super-simplified" accounting.
It is then possible for a SASU to use "cash" accounting. With this mechanism, only the bank statements appear.
SASUs also benefit from a number of tax advantages
The profits of a SASU, normally taxed under the corporate income tax (Impôt sur les Sociétés or IS) regime, can be temporarily opted to be taxed under the income tax (Impôts sur le Revenu or IR) regime.
Since the law of August 4, 2008, SASU companies can opt to be taxed as partnerships, enabling the sole shareholder to be personally taxed on the company's profits.
This option is only valid for a maximum of 5 years.
Finally, failure to comply with these accounting obligations may result in the application of penalties.
Any missing, fictitious or inaccurate entry can result in a fine of up to €500,000, as well as a prison sentence of up to 5 years.
That's why you need to take great care when drawing up your accounts: they must be regular, accurate and precise.
In conclusion, a SASU has a number of accounting obligations that must be respected
Written by our expert Quentin Moyon
August 6, 2018
