The obvious answer would be “right after the financial year has been closed in the accounting”, however there’s little bit more to it. It’s not just the accounts and even then, the Annual Report doesn’t prepare itself. You need to put in your time! And make sure you’ve got all information that’s to be presented within one.

Fact of the matter is that often times you might think what’s there to be done and it cannot take up this much time. It can and it most probably will! The right answer to this question would be “when you’ve got the accounts ready, information gathered and time made available for the process”. Only then is it best to start with preparing an Annual Report.

Having the financial year accounts ready is one thing that’s a prerequisite for the report obviously, but it’s also the extra information and bits you need. An Annual Report isn’t just made out of figures, but also additional text with content behind the numbers etc. And most importantly, you must have the time for it. Why? Firstly you wouldn’t want your other duties to suffer too much and secondly doing the Annual Report at the expense of your sleeping hours and weekends isn’t the best solution – mistakes are bound to happen that way, you don’t get your rest etc.

All in all, the best time is when you have the time. Make yourself some time available purely for the preparation of the Annual Report to have it done quickly, thoroughly and without mistakes.

If you want to learn more about Annual Report, please check out our Office ToDo UNI.