Section 2: Merchant accounting

As an exception to the provisions of the first and third paragraphs of Article L. 123-12, individuals placed by option or by right under the simplified actual tax regime may only record receivables and payables at the end of the financial year and not draw up any notes. Corporate entities that are merchants and are placed under the simplified tax regime either as an option or by operation of law…

Notwithstanding the provisions of the second paragraph of Article L. 123-13, natural persons who have opted for or are automatically subject to the simplified real income tax regime may enter in the income statement, according to the date of payment, expenses that do not recur more than once a year, with the exception of purchases.

As an exception to the provisions of the third paragraph of Article L. 123-18, natural persons placed by option or by operation of law under the simplified real tax regime may use a simplified valuation method for inventories and work in progress, in accordance with a method laid down by regulation of the Autorité des normes comptables.

As an exception to the provisions of articles L. 123-12 to L. 123-23, natural persons benefiting from the regime defined in article 50-0 of the General Tax Code may not prepare annual accounts. They keep a book showing the amount and origin of the revenue they receive from their professional activity. When their main business is to sell goods, objects, supplies and foodstuffs to be taken away or consumed on…

By way of derogation from Articles L. 123-12 to L. 123-23, the natural persons mentioned in the second paragraph of article L. 123-16-1 may not draw up a balance sheet and profit and loss account if they do not employ any employees and have registered their total and temporary cessation of activity with the Trade and Companies Register. The exemption no longer applies if the business is resumed, at the…