Every business that keeps its accounts on a computerised system must be able to hand the tax authorities, in the event of an audit, a file of accounting entries (fichier des écritures comptables, FEC) in a standard format.
What the FEC contains
All the entries of the financial year, each with standardised information: journal, date, account number, description, amount, document reference, validation date, matching. Entries must be final and chronological.
Why it matters
In the event of an audit
The FEC is submitted at the start of the audit. Failure to submit it or a non-compliant file exposes the business to a fine and can complicate the audit.
For the quality of the accounts
A clean FEC reflects well-kept accounts: referenced documents, validated entries, matched accounts.
Good practice
- Use software able to produce a compliant FEC.
- Validate entries regularly.
- Reference every supporting document.
- Check the file every year, before year end.
The most common anomalies
- Entries not validated, or editable after year end.
- Missing or non-chronological document numbers.
- Empty or unclear descriptions, making transactions incomprehensible.
- Unmatched third-party accounts: paid invoices appear to be still due, and vice versa.
- A change of software during the year without consistent transfer of entries.
The right habit
Have the FEC generated and checked every year before year end: it is a simple test of the quality of your accounts, which avoids unpleasant surprises on the day of an audit.
Frequently asked questions
Can my accountant produce the FEC?
Yes, when the accounts are kept in their software. If you keep them yourself, your tool must be able to generate it.
Does the FEC apply to small businesses?
Yes, as soon as the accounts are computerised, whatever the size of the business.
How long must the FEC be kept?
For the period during which the authorities can audit, and more broadly according to the rules on keeping accounting documents.
What happens if the FEC is incomplete?
A non-compliant file exposes the business to a fine and can lead the authorities to reject the accounts. Hence the value of an annual check.
Does the FEC contain the supporting documents?
No, only the entries, with the document references. Supporting documents must be kept separately.