Many foreigners who come to Poland for permanent residence decide to start their own business. This is not surprising, as Poland offers favorable conditions for doing business. Moreover, in some cases, starting a company entitles foreigners to obtain a residence card (you can read more about this in our article). However, doing business in Poland is not just about making a profit. Even if you have a great idea and an ambitious business plan, you will encounter various difficulties and pitfalls.
For example, choosing between sole proprietorship and a LTD, filing tax returns, opening a bank account, and much more. One of the most important and difficult aspects of entrepreneurship is accounting. When you open a company, you agree to comply with established rules and obligations to the state. If you fail to comply, you may face penalties and financial losses. To avoid them, you must keep track of your financial transactions correctly. Many entrepreneurs simply hire accountants for such tasks. In this article, we will tell you when and who is required to hire accounting services in Poland, what the nuances are, and much more!
Is there a legal requirement to hire an accountant?
* In this article, we won't talk about what an accountant is and what their advantages are. These are obvious things that everyone who plans to start their own business knows. Instead, we will focus on important questions that are difficult to find answers to on the internet.
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Legal requirements for businesses vary depending on the form of business activity you initially chose. For example, if you are a sole proprietor (JDG), you need to calculate your expenses and income (KPiR), VAT, insurance contributions to ZUS, and submit PIT tax returns.
What about a limited liability company (sp. z o.o.)? In this case, you need to keep full accounting records in accordance with the local standard UoR (Ustawa o rachunkowości). In addition, you also need to calculate insurance contributions to ZUS, VAT, and CIT tax returns.
As you can see, there are no clear requirements for hiring an accountant for your company under the law. However, one way or another, you must calculate your expenses, income, file tax returns, and much more. You can do this on your own (if you want). But most company owners still prefer to get help from professional accountants.
List of accounting responsibilities
In Poland, there is no direct legal requirement for entrepreneurs to hire an accountant. However, for some types of businesses (e.g., spółka z o.o. or joint-stock companies), maintaining a full accounting system is a must. Therefore, entrepreneurs most often outsource this task or hire a specialist to join their in-house team. Even individual entrepreneurs who are entitled to use simplified accounting often turn to an accountant to avoid mistakes. So, what does an accountant do in a company? Here are their main responsibilities:
Keeping accounting records in accordance with legal requirements.
Preparing and submitting tax returns (PIT, CIT, VAT, JPK).
Calculating and reporting insurance contributions to ZUS.
Monitoring deadlines for paying taxes and fees.
Preparing financial statements for companies.
Consulting on tax optimization and changes in legislation.
Simply speaking, an accountant controls virtually all financial aspects of a business. Expenses, income, net profit, deductions, salaries, and much more. The accounting department handles all of this, and one of its goals is to comply with Polish legislation.
Online accounting VS offline accounting
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Whether to hire an accountant for your team is entirely up to you. What's more, there are several options available on the market today. For example, you can turn to traditional accounting services by hiring a specialist for your team or by outsourcing. The second option is online accounting. Let's take a closer look at these two options below.
Comparison factor | Online | Offline |
|---|
Average cost | Cheaper (from PLN 100 to PLN 400 per month) | More expensive (from PLN 300 to PLN 1 |
Accessibility | Accessible from anywhere in the world via the Internet, 24/7 | Tied to the accountant's office |
Flexibility | Ability to quickly change rates, add services or users | Changes require personal arrangements and may take longer |
Security | Modern systems use encryption and backups | Documents are often stored physically |
Which of these two options is better? It all depends on your goals and budget. Online accounting may be suitable for small companies. What's more, some virtual offices provide accounting services by default.
Who should use accounting services in Poland?
The answer to this question depends directly on the form of your business. If we are talking about unregistered activity (działalność nierejestrowana), then the services of an accountant do not make sense. In this case, the entrepreneur is only required to monitor the income limit and submit an annual PIT return. This is easy to do on your own, and paying for accounting services would be an unnecessary expense.
For sole proprietors (jednoosobowa działalność gospodarcza), the situation depends on the scale of the business. If you have a few invoices per month and a simple (fixed) taxation system, it is quite possible to do the accounting yourself. But when the number of documents grows, VAT obligations arise, or you need to report to ZUS, you will have to find an accountant.
In the case of a spółka, we strongly recommend using the services of an accountant. Here, full accounting, preparation of financial statements for KRS, and CIT corporate tax calculations are required. Mistakes can be costly, so professional support is not only convenient but actually mandatory for the stable and safe operation of the company.
Start your journey in business with aksis
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As you may have already understood, running a business in Poland can involve many nuances, difficulties, and even pitfalls. Starting with the need to officially register a company, beginners may encounter a whole range of problems. However, there is no need to worry. You can always seek help from professional agents at aksis.
We have extensive expertise in doing business in Poland and are ready to help you with any questions you may have: company registration, choosing the right form of taxation, consulting, accounting, and much more. Contact us in any convenient way and get a free consultation within a few hours!
