Adaptation of the general assembly to the presentation values
January 29, 2013 | 25,00 EUR | answered by Wirtschaftsprüfer André Hintz
Dear Sir or Madam,
We have a problem with the profit booking. The situation is as follows: We are a GmbH, and it concerns the business year 2011.
In the balance sheet as of 31.12.2011, the balance on account 0868 = Loss carryforward as of 31.12.2010 according to the 2012 notice is 29,010.00€ debit, and on account 1997 = Balance profit as of 31.12.2010 according to the 2012 trade tax notice is 10,181.00€ credit. So practically, in the year 2011, the values from the previous year 2010 are shown because the notices were issued so late. Now the tax office notices for 2011 have arrived in 2013. The carryforward from 2011 to 2012 was done based on how the accounts were closed in 2011. The 2011 notices correspond exactly to the 2011 accounting. According to the notice, the determined loss carryforward as of 31.12.2011 for 2011 is 18,666.00€. (P&L according to BWA 10,310.60€ + 34.00€ not deductible BA)
How should the adjustment to the loss carryforward in 2011 be made, and where should the difference from the not deductible BA be booked? The profit from business operations in 2011 is 10,344.00€. How should the profit be adjusted to match the 10,181.00€ from the previous year? Should it be booked on 01.01.2012, or should the year 2011 be reopened? Please provide the journal entries and exact dates for each transaction. Thank you.
Dear inquirer,
I would like to answer your question within the framework of an initial consultation and your fee commitment, in accordance with the rules of the online portal. My response refers to the facts presented by you.
Firstly, the commercial accounting system of the loss carryforward.
1st fiscal year:
In the profit and loss statement, a loss of 100 euros is shown.
This is automatically displayed without the need for a booking.
2nd fiscal year:
All accounts of the balance sheet are booked with their closing balance of the previous year as opening balance sheet value (booking date 1.1.).
Assets to 9000 (balance carryforwards - general ledger accounts)
9000 (balance carryforwards - general ledger accounts) to liabilities
Debtors to 9008
9009 to creditors
The loss from the previous year is also booked against 9000:
868 to 9000 as of 1.1.
In the second fiscal year, a profit of 200 euros is generated.
The balance sheet shows: Loss carryforward - 100 and annual surplus + 200
3rd fiscal year:
Assets to 9000 (balance carryforwards - general ledger accounts)
9000 (balance carryforwards - general ledger accounts) to liabilities
Debtors to 9008
9009 to creditors
Loss carryforward from 1st fiscal year
868 to 9000 amounting to 100 as of 1.1.
Profit from 2nd fiscal year
9000 to 868 amounting to 100 as of 1.1.
9000 to 860 amounting to 100 as of 1.1.
In total, accounts 9000 + 9008 + 9009 must always equal zero.
The booking of profit or loss carryforwards has nothing to do with your corporation tax or trade tax assessments.
Non-deductible operating expenses only exist for tax purposes and must be reported outside of the accounting in the tax return. From a commercial accounting perspective, these expenses remain operationally incurred, and no bookings are made in this regard.
I am available for further questions and assistance via email.
I hope I have been able to assist you with my explanations and remain
Yours sincerely,
André Hintz
Tax advisor
Steuerberatung@andrehintz.de
