Standard and Simplified Bookkeeping
We provide complete bookkeeping services for companies under standard and simplified regimes: record keeping, financial transaction control, and management of statutory books.
Service details
The choice between standard and simplified bookkeeping depends on the legal structure of the business and its revenue volume. Studio CITI snc manages both regimes with the same expertise and attention, ensuring compliance with all deadlines and obligations required by law.
Standard bookkeeping is mandatory for corporations (Srl, SpA, Sapa) and for sole traders and partnerships that exceed certain revenue thresholds (400,000 euros for services, 700,000 euros for goods). It requires keeping a journal, an inventory book, VAT registers, a fixed assets register, and where applicable, a shareholders' book and minutes book. Standard bookkeeping provides a complete and analytical picture of the company's financial position and serves as the basis for preparing the annual financial statements.
Simplified bookkeeping is optional for sole traders and partnerships that do not exceed the above revenue thresholds. It involves keeping only VAT registers, supplemented with some additional information, and is fiscally relevant for calculating business income. Although less burdensome in terms of obligations, it still requires precision and constant updating.
The firm also offers interim accounting reports upon request, useful for monitoring economic performance throughout the year and making informed management decisions.
Frequently asked questions
How do I know whether I need standard or simplified bookkeeping? +
The choice mainly depends on the legal structure and revenue. Corporations are always required to use standard bookkeeping. Sole traders and partnerships can opt for simplified bookkeeping if their previous year's revenue did not exceed 400,000 euros (services) or 700,000 euros (goods). The firm will assess your situation and advise you on the most appropriate regime.
Can I switch from simplified to standard bookkeeping during the year? +
Switching from simplified to standard bookkeeping is possible but involves certain specific requirements. It generally occurs at the beginning of the year, unless legal obligations arise during the financial year. The firm manages the transition in an orderly manner, ensuring continuity of accounting data and compliance with required formalities.
Which accounting books are mandatory for my business? +
It depends on the regime adopted. Under standard bookkeeping, a journal, inventory book and VAT registers are mandatory. Corporations must also keep a shareholders' register and a minutes book. Under simplified bookkeeping, only VAT registers, appropriately supplemented, are required. The firm will review your situation and tell you exactly which books to maintain.
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