Accounting
Accounting Set-Up for New Companies
Start your new business with the right accounting foundations in place from the very first day.
What is it?
Setting up accounting correctly at the start of a business avoids costly corrections later. When a new company is incorporated in Spain it must immediately adopt the Plan General Contable, open its official accounting books (libros contables), register with the Tax Agency, and establish procedures for issuing legally compliant invoices. Getting these foundations right from day one saves time, money, and stress during every subsequent tax filing.
At GCT1 we handle the full accounting set-up for new companies incorporated in Elche and throughout Alicante province. This includes configuring a chart of accounts tailored to your sector, setting up your accounting software or connecting you to our cloud-based system, registering your official books with the Agencia Tributaria, and briefing you on the documents and processes you need to maintain going forward.
We work hand-in-hand with our tax and legal colleagues at GCT1, so by the time your first accounting period begins you will already have your tax registrations in place, your invoicing templates compliant with Royal Decree 1619/2012, and a clear calendar of the obligations you will face in your first year of trading.
Who is it for?
- Entrepreneurs incorporating a new Sociedad Limitada (SL) or other legal entity in Spain
- Foreign investors setting up a Spanish subsidiary or branch office
- Freelancers (autónomos) transitioning to a corporate structure who need to start fresh accounting records
- Startups and tech companies that want cloud-based accounting integrated with their payment and invoicing tools from launch
- Existing businesses opening a new legal entity — a holding company, a new subsidiary, or a joint-venture vehicle
What's included in our service
- Configuration of a sector-specific chart of accounts under the Plan General Contable
- Opening entries recording paid-up share capital and any assets or liabilities brought in at incorporation
- Legalisation of mandatory accounting books (libro diario, libro de inventarios y cuentas anuales) before the Registro Mercantil or via telematic submission
- Set-up of your accounting software or connection to GCT1's cloud platform with defined access permissions
- Design of compliant invoice templates meeting Spanish regulatory requirements
- Briefing on document-retention obligations (minimum 6 years under Spanish commercial law)
- First-year compliance calendar covering all VAT, corporate-tax, and statistical filing dates
Documentation you will need to provide
- Public deed of incorporation (escritura de constitución) and CIF certificate
- Tax registration certificates (Modelo 036 or 037 filed on incorporation)
- Details of initial share capital, shareholders, and any assets contributed in kind
- Bank confirmation of paid-up capital deposit
- Details of any initial loans, leases, or financing arrangements
Key deadlines
- Accounting books must be legalised within 4 months of the year-end (by 30 April for December year-ends) — or before the first entry for newly incorporated companies choosing telematic legalisation
- First quarterly VAT return due by the 20th of the month following the first complete quarter of trading
- Annual accounts must be filed at the Mercantile Registry within 7 months of year-end (by 31 July for December year-ends)
Why GCT1
- One-stop advisory firm: our accounting, tax, and legal teams coordinate the full incorporation and set-up process so nothing falls through the cracks between disciplines
- 30 years of experience in Elche and Alicante means we know the practical requirements of local registries, the Tax Agency delegation, and the Social Security office — and we know the fastest ways to get things done
- Scalable service: we can manage your ongoing bookkeeping from month one, or simply hand over a fully configured system if you prefer to handle records in-house
- Free first consultation to assess your business model, recommend the right legal structure, and scope the accounting set-up work with no obligation
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