LTC Corporate Services
Your English-Speaking Accountant and HR and Payroll Service Provider in Poland
Accounting and bookkeeping services are important aspects of running a business. Without the assistance of top accounting firms and financial control, no business can run well for long.
As business leaders, entrepreneurs, and investors it is crucial to understand the significant role of financial accounting services for your business as without it, you will have no clue about the health of your business.
In today’s world, accounting is not just restricted to the months of tax season. Nor is it limited to just bookkeeping and systematic recording. Now data has come into the picture and it has revolutionized the field of finance and accounting.
Today’s accounting and bookkeeping services have gone way beyond simple balance sheets, income statements, revenue projections, and cash flows. As successful business owners, it's time for you to break the shell of traditional accounting which only deals with the purpose of tax settlements, and imbibe modern accounting structures that take into account all the performance KPIs as well as other data points to paint a clear picture of your business, primarily based on numbers. And the numbers don’t lie!
Without the right data and accurate numbers on your side, it can be very difficult for you to predict the future of your business or even evaluate the present financial health, especially when the market demands are quite challenging.
So, What Actually is Good Accounting?
In simple terms, accounting is an invaluable source of knowledge for your business which can tell you in clear numbers where your business stands and where exactly it is heading to in the near future when it comes to basic finance.
Therefore, it is paramount for your success.
Traditional methods of financial accounting services are quickly becoming obsolete today as ‘data’ which is also known as the ‘fuel of the new world’ is replacing manual bookkeeping with cutting-edge scientific methods. These methods along with logical analysis from numbers are much well-versed in both evaluation and prediction of present and future times.
When a business has in-depth knowledge of its finances, it can stay away from making bad decisions and can easily eliminate any business risks that might arise in the long term.
Why Good Accounting is Crucial for the Success of Your Business?
Data and analysis from the data can paint a clear picture of financial stability for your business. It enables you to streamline, follow, and control all avenues of finances, revenues, operational costs, overhead costs, business expenses, liquidities, and liabilities.
Good accounting that is taken care of by top accounting firms also empowers you to have a detailed overview of receivables and payables to always know who owes you money or which invoice you need to pay what and when.
Be it your vendors, customers, or inter-departments – good accounting will always point directly at the areas you are bleeding from financially and at the same time highlight the regions which are performing well in terms of generating revenue.
If your business gets equipped with this all-powerful knowledge and in fact, has every piece of information to supplement that knowledge, imagine how easy it will be to mitigate risks, how well-planned your expansion strategies will be, and how precisely you can work on making your business more cost-effective!
You can cut all your financial losses while your profit margins continue to soar. When you have accurate data and analysis about your finances through modernized good accounting tools, techniques, and methods, you can map out the progress of your business, tweak any stage of development by looking at the numbers, and figure out the next big venture for your business in the most cost-effective manners as possible.
This will directly result in your business staying incessantly in the pink of financial health!
All these magnificent results can only be achieved when you have a strong team of experts and professionals who have extensive experience in comprehensive accounting, bookkeeping, human resources, and payroll services.
Talking about experts and the highest quality of accounting services in Poland, LTC Corporate Services has serviced thousands of foreign clients in achieving the best accounting and financial results.
Who Must Keep ‘Full Accounting’ Books in Poland?
Full Accounting books are primarily the record keepers of an organization, company, or business that give government institutions, legal authorities, and business partners a crystal clear quantitative picture of the business.
According to the Accounting Act in Poland, the obligation of maintaining a Full Accounting ledger depends entirely on the type of business. The Book of Full Accounting is mandatory for –
- Commercial Business Entities
In accordance with the “Entrepreneurs’ Law and the Law on Succession Management of a Natural Person’s Enterprise and other facilitations related to business succession,” entrepreneurs who are operating in the field of commercial companies and are generating net revenues that exceed EUR 2,000,000 annually, need the Accounting Book.
- Inherited Enterprises
Enterprises that have been gained or received through inheritance need Accounting Book, only if there were functional accounting books before the period of inheritance commenced.
- Organizations and Business Entities that operate and function under the stated Banking Laws
- Municipalities, districts, provinces, and their unions, along with their units and budgetary establishments
- Organizations and Business Entities that do not possess any legal identity (there are certain exceptions in this particular case)
- Branches and Representative Offices that belong to Foreign Enterprises
In accordance with the “Act on the Principles of Participation of Foreign Enterprises and Other Foreign Persons in Business Operations in the Republic of Poland,” foreign enterprises' branches and offices are not obliged to keep an accounting book.
- Organizations and Business Entities which receive subsidies or grants from public funds. This includes local government administration budgets, state budgets, and funds that are kept for special purposes.
Full Accounting Books are Not Mandatory for the following businesses –
- Sole Proprietorship
- Civil Partnership
- General Partnership
- Inherited Enterprise
All these business types are exempted from keeping a Full Accounting Book provided the businesses do not exceed a net revenue share of EUR 2,000,000 in the previous fiscal year..
Why Choose LTCCS.EU?
LTC Corporate Services is your one-stop solution for all your Accounting, Bookkeeping, Human Resources, and Payroll Services in Poland. Undoubtedly it is the top accounting firm in Poland!
We have a team of experts who uses state-of-the-art technology and tools to take care of your accounting and bookkeeping needs. You can simply send us your accounting documents digitally and we will perform all the required monthly fillings on your behalf.
The biggest advantage that you get from partnering with the top accounting firm in Poland is that unlike all other accounting offices in Poland we are the only professional ones who speak the language of our clients. We are among the very few exceptional accounting and bookkeeping firms in Poland that can provide services and solutions all in the native languages of English and Germany.
So, for English-speaking accounting and finance professionals in Poland, you need not look further than LTC Corporate Services.
We will provide you with monthly reports so that you always stay in the loop of what we are doing for you. With LTC Corporate Services on your team, you can get a detailed financial overview of your business at any time you want.
As we are associated with numerous international businesses, Small and Medium Enterprises, we are more than familiar with all the requirements of foreign businesses operating in Poland. We always strive hard to meet the special needs of foreign investors and take their businesses to unprecedented heights of success.
The two forms of Accounting that we provide (Basic Accounting Services and Premium Accounting Services with Detailed Reporting) are in line with the accounting tools and technology that are digitized and automated with the latest updates in the industry. This absolutely eliminates the negligible chance of human errors which are always a big thing in the field of financial accounting services.
Our highly experienced and interdisciplinary team of English-speaking accountants, lawyers, tax advisors, and HR and IT specialists, will simplify your finances and give you complete control of your business economy. We will always keep you updated regarding any changes in the market and the economy so that your business always stays ahead of the challenges.
Contact LTC Corporate Services today and join the club of thousands of German-speaking and English-speaking accountants in Poland and business leaders who trust us with their Accounting and Bookkeeping Services in Poland.
Fill in the details of the Contact Form to Avail an Attractive Individual Offer or an in-depth Consultation on your business’s Accounting requirements and necessities.