The settlement accounts start with the inventory of assets and the liabilities identified at the beginning of the liquidation. All changes during the settlement process must be recorded up to the specified closing date. These include completed residual transactions, collected receivables, assets sold and payments to creditors. Liquidation costs and other expenses must be itemised separately, together with the reason for each. Unrealised assets or outstanding liabilities must be clarified before the final accounts can be considered complete. The final statement of assets shows what funds remain after the settlement. Bank balances, cash, bookkeeping records and supporting documents must agree with this statement. The liquidator’s report should explain the key settlement measures and any variances from the opening figures in a clear and verifiable way. A reconciliation links the opening assets, income, expenses and closing balance. The completed final accounts form the basis for a separate decision on the remaining assets and for further closing evidence.
Final Accounts for the Liquidation of a Company in Georgia
The final liquidation accounts of a company in Georgia summarise the entire financial settlement, from the opening balance to the remaining assets. They must reconcile proceeds from asset realisations, amounts collected on receivables, payments to creditors, liquidation costs and outstanding items with the bookkeeping records and supporting documents.
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