Double-entry accounting

Double-entry accounting is mandatory for businesses with a turnover from the previous year exceeding CZK 25 million and businesses entered in the commercial register. The obligation to keep double-entry accounting is also imposed by a special legal regulation. A company may also opt to use double-entry accounting standards.

What do we offer with respect to double-entry accounting?

• Setting and complete administration of double-entry accounting for legal entities and private individuals according to the selected accounting method
• Smooth transition to double-entry accounting
• Recording and settling all accounting transactions (incoming invoices, outgoing invoices, bank, cash flow, payment card transactions, leasing, assets, wages, etc.)
• Importing data of certain agendas from your internal system (e.g. incoming invoices, outgoing invoices, retail sales, etc.) to our system and processing the data using standard methods
• Processing input or regular reports:
  • Ledgers for incoming and outgoing invoices
  • System of due and overdue invoices, including automatic reminders
  • Analysis of accounts for the defined periods
  • Balance sheets
  • Income statements, including categorisation by groups or orders
  • Cash flow
  • Regular comparison (evaluation) of the planned budget with the company’s results
  • Special reports upon request of the client or parent company
  • Presentation of the company’s results
  • Processing VAT returns on a regular basis
• Annual processing of tax returns (road taxes, income taxes, etc.)
• Processing the annual financial accounts, including cooperation with auditors and/or tax consultants
• Processing statistics for the Czech Statistical Office
• Processing statements for the Czech National Bank
• Communication with authorities

We will regularly communicate with you during the entire process, arrange the delivery of all accounting documents, and process the documents in the agreed manner.