Preparing the Annual Accounts Meeting: Agenda, Documents and Follow-Up

From January into spring, German tax firms work through one annual accounts meeting (Jahresabschlussgespräch) after another. This article describes the process for a GmbH, a German limited liability company, whose financial year matches the calendar year. Other legal forms are partly subject to other rules. The logic stays the same: the client makes the decisions in the meeting, and the firm records them.

When should the annual accounts meeting take place?

The meeting should take place as soon as there is a reliable draft and changes still fit within the deadline for drawing up the accounts (Aufstellung). For financial year 2026, the legal representatives must draw up the accounts by 31 March 2027. Small corporations may do so later if that is consistent with proper business practice, but at the latest by 30 June 2027 (§ 264(1) HGB, German Commercial Code).

The shareholders resolve on adoption of the accounts (Feststellung) and the use of profits by 31 August 2027, or by 30 November 2027 for small companies. The articles of association cannot extend this period (§ 42a(2) GmbHG, Limited Liability Companies Act). Publication (Offenlegung) must follow at the latest one year after the balance sheet date, here by 31 December 2027 (§ 325(1a) HGB).

Check the size class beforehand, because it determines the deadline, the management report and publication. The legal consequences generally apply only once the criteria are exceeded or undercut on two consecutive balance sheet dates (§ 267(4) HGB). For sole traders and commercial partnerships outside § 264a HGB, § 243(3) HGB requires the accounts to be drawn up within the time consistent with proper business practice.

What has to be decided in the meeting?

In the meeting, the client decides everything that is not part of compiling the accounts. The statement by the German Federal Chamber of Tax Advisors (BStBK) separates drawing up the accounts (Aufstellung) from compiling them (Erstellung). The duty to draw them up lies with the merchant or the legal representatives, and only the work involved can be delegated (para. 1). The representatives therefore decide on recognition, measurement and presentation options and on matters of judgement, and the tax advisor carries out their instructions (para. 22). The same applies to the relief available to small and medium-sized companies when drawing up and publishing accounts (para. 23). BStBK statements must be observed when carrying out an engagement (§ 13(1) BOStB, the BStBK's professional code).

For the meeting, this means presenting every open decision with your proposal and letting the client decide. Watch your wording too. Compiling accounts rules out an audit or review, and the tax advisor must not give the impression that either took place (para. 20).

Which documents belong on the checklist?

The checklist covers everything the client needs to see before the meeting or bring to it:

• Draft balance sheet and income statement, plus notes and management report where required
• Prior-year accounts with an explanation of material variances
• Size class and available relief
• List of accounting options and matters of judgement, with the firm's proposal
• List of open questions for the client
• Inventory and inventory evidence (§ 240 HGB)
• Open items whose recoverability is doubtful
• New or amended contracts, for example on loans, rent or management
• Matters for possible provisions, for example legal disputes or warranties
• Proposal for the use of profits and draft shareholder resolution
• Draft letter of completeness (Vollständigkeitserklärung)

Send the draft and your questions a few days before the meeting. That leaves time in the meeting for the decisions.

How does the meeting run?

The meeting works best in the order result, variances, decisions, outlook. Start with the result in a few sentences, then explain the variances the client needs to understand. Next, work through the list of decisions. The outlook covers expected tax payments and the dates for the current year.

The people at the table should be those who are allowed to decide. If someone from outside the engagement attends, such as a bank adviser, clarify the release from secrecy beforehand (§ 57(1) StBerG, § 5(2) BOStB).

The letter of completeness comes last, and the BStBK statement recommends it (para. 53). It covers all information provided, meaning vouchers, books, inventory evidence and explanations (para. 54). It generally requires that the responsible body has received the draft and the supporting documents (para. 56). The legal responsibility for complete and correct bookkeeping stays with the company (para. 55).

What belongs in the follow-up?

The follow-up covers everything that evidences the decisions and gives each deadline an owner. On the same day, record in a file memo which instructions the client gave on accounting options. The statement requires the compilation to be documented appropriately (para. 51). The guide Documenting client meetings explains which document fits when.

The client letter sums up what is now with the client. The annual accounts must be signed and dated (§ 245 HGB). The managing directors submit them to the shareholders for adoption without undue delay after drawing them up (§ 42a(1) GmbHG). The adopted accounts must then be published. Small corporations submit only the balance sheet and notes, micro corporations only the balance sheet (§ 326 HGB).

The duty to publish lies with the members of the representative body (§ 325(1) HGB). If the firm takes on the submission, record this expressly. If it is missed, the Federal Office of Justice opens administrative fine proceedings (§ 335 HGB).

May the meeting be recorded?

Yes, if everyone involved consents beforehand. This follows from § 201 StGB of the German Criminal Code, and the BStBK FAQ on AI makes clear that consent given afterwards is not sufficient. The details are in the article May an AI tool transcribe client meetings?

One example of AI-assisted follow-up is TaxMeet (Next Intelligence GmbH, Berlin). No meeting bot joins the call, capture happens per participant on the device, and the conversation yields minutes, a file memo, a client letter and an email draft. Nothing is executed without human approval, and the professional checks every draft personally. More is on the product page.