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Accounting Ledgers

Our offer is targeted at business operators obliged to keep their accounting books in accordance with the accounting principles stipulated by the Accounting Act of 29 September 1994 (Journal of Laws No. 121, item 591) and with international standards, particularly at commercial partnerships and companies, including entities in organization, and civil law partnerships (notwithstanding Article 2(1.2) of the Accounting Act), as well as natural persons, civil law partnerships of natural persons, registered partnerships of natural persons, professional partnerships and cooperatives, provided that their net revenues from sales of goods, products and financial transactions for the preceding financial year amounted to at least a PLN equivalent of EUR 1,200,000.

 

The complete scope of bookkeeping and auxiliary services includes the following modules:

 

Bookkeeping

  • keeping the accounting records in the form of accounting ledgers in a computer system, in accordance with the provisions of the Accounting Act and with international standards (IAS/IFRS), including Group standards;
  • preparation and implementation of an accounting policy and a company chart of accounts;
  • opening the books as at the date of accepting the books or commencement of business activities (database building);
  • determination of cost centers (CC) as per the client's requirements, preparation of customized reports;
  • assessment of accounting documents (records) in the perspective of accounting and tax laws, deciding on the method of their recognition and posting;
  • posting specific transactions to the accounting books;
  • keeping collections of accounting records, turnovers and balances establishing the journal, the general ledger, auxiliary ledgers, statements of turnovers and balances of the general ledgers and balances of auxiliary ledger accounts;
  • keeping sales and purchase registers for VAT purposes in accordance with the provisions of the Tax on Goods and Services (VAT) Act;
  • clearing of international transactions, including intra-Community purchases and supplies of goods, import and export of services;
  • keeping PP&E and intangible asset registers, preparation of a depreciation schedule, depreciation write-downs, possible revaluation of PP&E;
  • preparing statements of turnovers and balances, reconciliations of balances with contract parties;
  • providing explanations concerning accounting documents, records;
  • preparation of lists of settlements.

 

Declarations, tax advances, annual returns

  • preparation and submission of monthly/quarterly VAT declarations to the Tax Office;
  • preparation and distribution of monthly and annual declarations to competent (tax, customs) authorities - CIT, PIT, ZUS (social security), INTRASTAT;
  • monthly/quarterly calculation of taxable base and advance for corporate/personal income tax;
  • preparation of annual corporate income tax returns (CIT-8) and personal income tax returns (PIT 36, PIT 36L), etc.;
  • preparing documentation for VAT return purposes;
  • preparing monthly/quarterly summary (VAT-UE).

 

Reporting

  • preparation of monthly/quarterly income statement and balance sheet;
  • submission of reports to State government statistics authorities: Central Statistical Office - F-01, KZ, SP, DG-1, Z-05; National Bank of Poland, and other financial authorities and institutions;
  • preparing periodical financial reports for management purposes, as per the client's individual information requirements;
  • preparing financial analysis statements to describe the efficiency of the given income and cost classification criteria (branches, establishments, representatives);
  • budgeting incomes, costs and balance sheet items;
  • reporting on budget implementation;
  • producing printouts/reports of the accounting ledgers, as per the client's requirements;
  • analysis of cost centers and sales revenues;
  • evaluation of net profit/loss;
  • reviewing liquidity of the business;
  • drawing up financial analyses, business plans.

 

Financial statements

  • preparation of annual financial statements (balance sheet, income statement, statement of changes in equity, cash flow statements, notes) according to the requirements of the Accounting Act of 29 September 1994 or IAS/IFRS;
  • preparation of consolidated financial statements, consolidation packages in accordance with the Accounting Act and international legal standards;
  • handling audits/reviews of financial statements by certified auditors;
  • participation in tax audits.

 

Associated services

  • handling tax proceedings, fiscal or tax inspections;
  • communications with tax authorities;
  • updating the company data;
  • preparation of credit applications;
  • clearing of outstanding accounting and tax debt;
  • accounting advice and consultancy;
  • accounting and tax supervision;
  • reviews of accounting books,
  • assistance in selection and implementation of an accounting system;
  • consulting on preparation and updating of document flow instructions, stocktaking instructions, stock management guidelines;
  • preparation of accounting policies and company charts of accounts, in collaboration with the client, meeting the requirements of the Accounting Act of 29 September 1994;
  • consulting on the accounting organization;
  • accounting consultancy in the range of proper documentation of transactions;
  • accounting audits;
  • consulting on development and verification of internal controlling procedures;
  • preparation of applications for EU grants;
  • representing the client before the Tax Office on the basis of relevant power of attorney;
  • consulting and advice on running the client's business.