Accounting for small businesses
Accounting for small businesses - tax scale, flat tax, flat rate
Accounting for small businesses is simplified accounting, commonly known as small accounting. It is primarily based on driving:
- books of revenues and expenditures (when taxed according to the tax scale or with a flat tax) or
- revenue records (with lump-sum taxation on recorded revenues).
The above records constitute the basis for tax settlements made with the tax office.
In the case of some individual entrepreneurs, the provisions impose the obligation to keep additional records, for example:
- records of fixed assets,
- equipment records,
- vehicle mileage records (for PIT or VAT purposes), etc.
Accounting for small businesses - VAT
If the entrepreneur is an active VAT payer, then keeping small bookkeeping obliges him to have a VAT purchase and sale register.
On their basis, the taxpayer completes settlement declarations - VAT-7 (in the case of monthly settlement) or VAT-7K (in the case of quarterly settlement), which must be completed and submitted by the 25th day of the month following the settlement period.
Send VAT declarations electronically directly from the online accounting system: E-declarations.
Accounting for small businesses - ZUS contributions
ZUS contributions are another element of small business accounting. An entrepreneur who does not employ any employees is obliged to pay ZUS contributions by the 10th day of the month for the previous month. In turn, when the company hires employees, this period is extended to the 15th day of the month.
Send VAT declarations electronically directly from the online accounting system: E-ZUS - ZUS declarations in electronic version.
Independent bookkeeping of a small company
The main factor motivating entrepreneurs to run small business accounts is the willingness to reduce costs. A number of online programs, which, apart from issuing sales invoices, also allow for the calculation of tax liabilities and the preparation of declarations, is a facilitation in this matter. They make accounting for small businesses much simpler. Entrepreneurs need only a computer and Internet access to use them.
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