Accounting for micro-enterprises - new facilities!


In July 2014, changes to the Accounting Act were introduced at the Senate meeting. The main purpose of the changes was to simplify the accounting of micro-enterprises, and thus reduce the costs of its keeping. The modification was made on the basis of Directive 2013/34 / EU of the European Parliament and of the Council. See what will change!

What simplifications for the accounting of micro-enterprises?

First of all, the annual financial statements will be shortened. Only basic information on the balance sheet and profit and loss account will be required.There will be no obligation to prepare the notes and the management report, but some details will be required in the notes accompanying the balance sheet. Simplified reporting will save time and costs.


Definition of microenterprises

According to the new definition, microenterprises include, inter alia, joint-stock companies, limited liability companies, limited joint-stock partnerships that meet at least two of the three conditions:

  • balance sheet total does not exceed PLN 1.5 million,
  • net revenues from the sale of goods and products do not exceed PLN 3 million,
  • the average employment does not exceed 10 people.

Who else will benefit from the changes in accounting?

The introduced changes in accounting will also benefit partnerships, natural persons, general partnerships of natural persons, civil partnerships of natural persons, provided that net revenues from the sale of goods, products and financial operations for the previous financial year were in the range between 1.2 and 2 million euro (the equivalent in PLN).

Accounting facilities not only for micro-enterprises

The Senate introduced an amendment aimed at simplifying reporting also for entities not conducting economic activity. This possibility will be available to entities such as associations, trade unions, employers' organizations, chambers of commerce and other such entities already in the preparation of financial statements for 2014.