October is coming to an end, and companies are beginning to prepare for the end of the annual cycle, a period that varies depending on the industry. The Federal Accounting Council (CFC) emphasizes the importance of careful planning to avoid setbacks and additional costs.
According to accountant Angela Dantas, CFC counselor, in addition to routine accounting activities – such as closing the companies' payroll – it is necessary to correctly calculate benefits and deadlines.
"Among the main obligations are the payment of the 13th salary, the execution of the Profit Sharing and Results Program (PPLR), and the preparation of employees' Income Reports, which need to be ready in advance of the scheduled date for use," he warns.
The counselor also reminds that one of the fundamental obligations is the payment of Corporate Income Tax (IRPJ) and the Social Contribution on Net Profit (CSLL), which can be calculated monthly, quarterly, or annually. In the case of companies that choose the actual profit regime, the calculation must be completed by the last day of the calendar year, December 31.
“Failure to pay these taxes can result in fines of between 2% and 20%, depending on the reported profit, in addition to decisions due to errors in the provision of information,” he says.
Another relevant point is the analysis of the financial statements to ensure that the closing of the balance sheet, scheduled for December 31, 2024, is carried out accurately, with the reconciliation of the equity accounts and the correct distribution of profits, if any.
The CFC lists three essential commitments for the last quarter, which must be fulfilled within the deadline:
collective holidays
- Term:communication must be made up to 15 days before the start of the collective vacation.
- Obligations:notify the Regional Labor Office (DRT), inform the union and employees, and organize payments.
- Punishment:errors in the process may result in fines for each employee in an irregular situation and compensation corresponding to the vacation salary, according to the Federal Constitution.
13th salary
- Term:the first installment must be paid by November 30th and the second by December 20th.
- Punishment:Failure to comply may result in fines applied by the Ministry of Labor and Employment (MTE) and labor lawsuits filed by employees.
Profit Sharing Program (PPLR)
- Term:PPLR payment is determined by collective agreement and must be made in up to two annual installments, with a maximum of three months between them.
- Punishment:Failure to pay the PPLR as agreed may result in individual or collective legal action.
Responsibilities for fulfilling these obligations are divided between the Accounting and Human Resources departments, which must strategically manage these processes and maintain employee motivation and involvement.
“The end of the year is a busy time for accountants, especially with the organization of collective vacations and the payment of the 13th salary. A mistake can have significant implications, affecting the relationship between the company and the employee”, concludes the advisor.
