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.