We specialise in the so called “comprehensive book-keeping”, i.e. keeping books and generating a balance sheet.1 We keep books of accounts, also their international versions, for company branches and foreign capital companies. We provide services also to Clients whose financial statements are subject to mandatory audits of chartered auditors.
We avoid patterns which could limit Clients’ development. There is a number of methods to present data in financial reports – and we can chose the most optimum one. Boards and owners of enterprises expect reliable information about costs and results of their companies. Our strength is that we provide updated reports and breakdowns.
Selection of the most appropriate presentation methods is important not only for managing purposes but also in case of enterprise assessment made by a bank, by insurers, or by companies organising public tenders, in reports of credit information agencies, and in many other situations. Such book-keeping activities have a real impact on taxes and overall standing of an enterprise.
1see i.a. Polish act on accountancy of 29-09-1994 (i.e. Journal of Laws of 2013, item 330 – as subsequently amended)
Tax revenue and expense ledger
Simplified accounting records kept only under fiscal provisions of law. 2 A book-keeping form admissible only under specific conditions for natural persons running business activity, partnerships, and general partnerships.
Tax revenue and expense ledger is not the best form of keeping documentation for an entrepreneur, yet combined with tax advisory services it does have some advantages. This is especially visible in smaller companies where the basis is a cash flow between business and private property of its owner.
Tax revenue and expense ledger can be supplemented with additional services depending on Clients’ needs. Thanks to IT and computers, we can introduce numerous facilitations in this relatively simple documentation.
2 see i.a. Resolution of the Polish Minister of Finance on keeping tax revenue and expense ledger of 26-08-2003 (Journal of Laws of 2003, no. 152, item 1475 – as subsequently amended).
Registered lump sum and tax card
The simplest form of tax settlements. In case of the registered lump sum and tax card,3 the primary task of an accountant or tax advisor is to point out a situation in which this form of taxation and keeping a register should be advised to a Client.
Despite numerous limitations, the simplest methods sometimes are the best for a specific person. However, it does happen that benefits coming from simplification are only apparent.
We suggest that if an entrepreneur having a lump sum or tax card is not a VAT payer, one does not in fact require services of a professional accountant. If a person does not settle VAT tax, a periodic tax audit, verification of settlements, and necessary counselling seem to be sufficient.
3 see i.a. Polish act on lump sum income tax on some revenues earned by natural persons of 20-11-1998
Business performed personally
Liberal professions, as well as some income earned, i.a. on participating in sports, revenues of artists, creators, teachers running schools, scientists, social and political activists, managers, as well as many other persons simply rendering some forms of services personally for someone in exchange for a fee, are similar to running a “one-man business”. However, this is something completely different.4
Activity performed personally does not always require to register a business activity – which means lack of contributions paid to the Polish Social Insurance Institution [ZUS]. Nevertheless, correct settlement of income from this source does require to render professional book-keeping services for such Clients, supported with tax advice services.
4 see i.a. art. 13 of the Polish act on personal income tax of 26-07-1991 (i.e. Journal of Laws of 2012, item 361 – as subsequently amended)