Why Annual Reports Matter
In China, small companies and micro-enterprises are required to prepare annual financial reports for tax filing, annual industrial and commercial inspection (工商年检), and bank loan applications. Missing or incomplete reports can result in fines or operational restrictions.
What Goes Into an Annual Report?
- Balance Sheet (资产负债表) — A snapshot of your assets, liabilities, and equity at year-end.
- Income Statement (利润表) — A summary of revenue, costs, and profit for the year.
- Cash Flow Statement (现金流量表) — For larger small enterprises; shows cash inflows and outflows.
- Notes to Financial Statements — Explanatory notes required for compliance.
The Traditional Process
Traditionally, preparing these reports requires a bookkeeper or accountant to compile a full year of transaction data, reconcile bank statements, and apply the correct accounting standards. This typically costs thousands of yuan per year.
The AI Way
With FlyWrite AI Bookkeeping, your annual report is generated automatically from the transaction data you've uploaded throughout the year. The AI applies the correct accounting standards, generates all required schedules, and produces a ready-to-submit report in minutes.
Get Started
Ready to automate your annual reporting? Contact us to learn more.