Accounting Books

Accounting books are a more advanced form of accounting records used to detail business transactions. An entrepreneur using this form of tax settlement must account for all revenues from sales and other income. At the same time, they record purchases of goods and materials and all expenses related to running the business, such as wages, office and administrative costs, and other expenses specified in the regulations. Accounting books also require detailed records of receivables and payables, depreciation of fixed assets, and the preparation of regular financial statements, such as the balance sheet and the profit and loss statement.

Who maintains accounting books?

  • State institutions,
  • Joint-stock companies,
  • Simple joint-stock companies,
  • Limited liability companies,
  • Limited partnerships,
  • Limited joint-stock partnerships,
  • Civil partnerships, professional partnerships, and general partnerships that exceed 2 million euros in net revenue,
  • Sole proprietors who exceed 2 million euros in net revenue,
  • Foundations and associations.

What do we do as part of managing accounting books?

  • Opening accounting books on the commencement date of the business,
  • Preparing the accounting policy document,
  • Creating a company chart of accounts,
  • Ongoing recording of business transactions in accordance with accounting principles,
  • Checking documents for formal and accounting accuracy,
  • Preparing monthly settlements and tax declarations,
  • Maintaining VAT purchase and sales records,
  • Managing the register of fixed assets and equipment,
  • Periodic preparation of statistical reports required by the Central Statistical Office (GUS) and the National Bank of Poland (NBP),
  • Preparing documents for the National Court Register (KRS),
  • Preparing annual financial statements,
  • Reconciling balances of liabilities and receivables,
  • Preparing the annual corporate income tax return (CIT-8),
  • Handling personnel matters.