Set up a Company Without Accounting Mistakes: Complete Guide for Entrepreneurs

Opening a company is an exciting step full of opportunities, but it’s not just about formalizing the public deed of incorporation and registering it with the Commercial Registry. A well-planned incorporation also requires a rigorous accounting strategy from day one, ensuring proper resource management, avoiding costly mistakes, and enabling sound financial decisions from the start.

At Adlanter, we know that many entrepreneurs focus solely on commercial procedures, leaving accounting in the background. However, early accounting planning can make the difference between sustainable growth and future financial and liability problems.

 

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Accounting Planning from Day One

From the moment the company is incorporated, it is crucial to properly organize accounting records, bank accounts, and cash flows. This not only prevents errors but also lays the foundation for transparent and efficient financial management.

• Avoid mistakes in recording shareholder contributions and share capital, ensuring that funds are correctly registered from day one. Errors can result in liability for the founders.
• Accurately record incorporation expenses and initial investments, including payments to suppliers, asset acquisitions, and operating costs. This is vital for tax deductibility and to reflect a true picture of initial assets.
• Comply with tax obligations from the start. Obtaining a provisional Tax Identification Number (TIN) and its subsequent conversion to a permanent one are critical steps. This ensures correct tax filings (corporate tax, VAT), avoiding penalties and surcharges from the Tax Agency.
• Ensure that every financial transaction is documented and traceable, facilitating future audits and strategic decision-making.

Accounting Structure Aligned with Your Activity

Each type of company and sector requires a tailored accounting structure. Incorrect account classification or improper recording can create issues in tax filings and, fundamentally, in the preparation and submission of annual accounts to the Commercial Registry.

It is essential to design a chart of accounts from the outset that complies with regulations and fits the particularities of your business. This will allow you to:

• Have clear and reliable financial information for strategic decision-making.
• Prepare and submit annual accounts without errors that could prevent filing or generate liability for the management body.
• Ensure all fiscal and commercial obligations are met correctly and on time.

Integration with Commercial and Labor Management

Opening a company is not an isolated process. Accounting must integrate with commercial management and labor management, ensuring that all internal processes are aligned. This includes shareholder and employee contracts, payroll, tax withholdings, and payments to suppliers and clients.

Early integration prevents inconsistencies, reduces fiscal risks, and facilitates efficient day-to-day management, ensuring the company meets all legal and accounting requirements without surprises. It also provides management with a complete view of the business to make strategic decisions based on accurate and updated data.

Continuous Monitoring and Control

Ongoing accounting monitoring is a key tool for success, but also a duty of the company administrator. Rigorous control over the company’s financial situation allows you to:

• Detect legal causes for dissolution in time.
• Improve decision-making with reliable and updated financial information.
• Maintain transparency and trust with investors, shareholders, and public authorities.
• Identify opportunities for fiscal and financial optimization that strengthen the business’s viability.

How We Can Help at Adlanter

At Adlanter, we support you from the creation of your company to its daily accounting management. Our integrated approach combines commercial advisory and accounting, ensuring your business starts with a solid foundation, complies with regulations, and grows sustainably.

📞 Contact us to learn how we can help you incorporate your company without accounting mistakes and keep it fully compliant and efficient.