Regardless of its legal form, every organisation is obliged to keep its accounting records correctly. Invoice description is a key element of financial documentation, enabling the expense to be recorded correctly and confirm its conformity with the accounting regulations. How…
The balance sheet is one of the key tools used to analyse the financial situation of the company. In the financial statements, the balance sheet reflects the state of assets, liabilities and equity at a given point in time. But…
Do you plan on settling your business transactions on a flat-rate basis applicable to recorded revenue and are you wondering how to correctly record all the revenue when using flat rates? You have found a solution! This guide will help…
Have you been thinking about changing your accountancy firm but not sure if it is a good idea? Before you make a decision, it is worth finding out how this might affect the operation of your business. Therefore, to avoid…
When running a business, every entrepreneur sooner or later has to face the issue of VAT – or Value Added Tax. Although the concept of tax itself may seem straightforward, the knowledge of rules governing VAT calculation and the application…
Full accounting is an accounting system which limited liability companies (sp. z o.o.) must use in Poland. Unlike simplified accounting, full accounting requires detailed and clearly defined recording of all financial operations of the company. If you are wondering what…
Every entrepreneur, regardless of the business type, has to submit their returns to the tax office, pay their taxes and Social Security contributions. Choosing the right accountancy firm or using modern online bookkeeping tools is crucial for the effective management…
The establishing of a limited liability company is a process which requires knowledge of commercial law, as well as certain costs associated with company registration. The choice of the appropriate form of registration, the amount of share capital and the…
The incorporation of a limited liability company (spółka z o.o. in Poland) is a process which is often seen as complicated by budding entrepreneurs. However, with the right preparation and knowledge of procedures, it can be managed smoothly and without…
You have certainly come across this term more than once in your bank statement or in some financial statements. The term sounds familiar, doesn’t it? According to the survey, as many as 60% of people admit that they have misinterpreted…
