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Full accounting for companies - take care of your company's finances!

Full accounting is a solution that only certain entrepreneurs can take advantage of. People running their businesses as sole proprietors usually settle accounts on a simplified accounting basis, keeping only an income and expense ledger. However, simplified accounting is not always possible. In a situation where an entrepreneur decides to set up a company, accounting procedures turn out to be much more complicated. It is then necessary to account for the company’s finances under full accounting. This usually also means hiring a professional accountant, who will not be intimidated by the increased amount of paperwork.

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Full accounting

Effective from 1 January 2022, the provisions of the New Deal still raise many questions and doubts, and mistakes in the documentation of your business finances can cost you dearly. In order to avoid unpleasantness, it is advisable to use the services of a qualified adviser to help you account for your business under full accounting. When you turn to FA Partners experts for help, you gain a guarantee of professionalism. We will make sure that all formalities are completed for you with due diligence. Thanks to us, keeping full accounts will not be so terrible!

Have you set up a company and are looking for qualified accountants to do your full accounting? Use the help of FA Partners!

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What is full accounting?

Full accounting is the most extensive form of keeping and accounting for the finances of a business. When accounting in this way, you are required to keep accurate records of all processes taking place within the company. The greater control is due to the fact that large companies, which have considerably more capital than small, one-person businesses, are usually required to keep full accounts. Large companies also transact larger amounts. Therefore, in order to avoid dishonesty on the part of entrepreneurs, the state obliges large company owners to be more transparent.

Full accounting is compulsory for, among others, commercial companies and companies operating under banking law.

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Why is it worth entrusting full accounting to a professional company?

Not every bookkeeper has the knowledge and authority to account for a business in the right way. For this reason, finding a professional accountant in your area can prove problematic. We also do not recommend using an unproven office, as even the smallest mistake can cost your business dearly. Instead, it is advisable to use the services of a qualified accountancy firm from whom full accounting has no secrets.

FA Partners has been servicing the accounting and financial needs of companies for years. Our accountants will advise you on when to switch to full accounting and how to account for your company's finances. Our knowledge is backed up by years of experience, and FA Partners' goal is to provide our clients with the highest quality service, allowing them to succeed in their business.

By using our services in the area of full accounting, you can be sure that all formalities will be completed in accordance with the applicable regulations and you will not face any unpleasant consequences from the authorities, e.g. due to late filing of returns.

What elements does a full accounting service consist of?

Full bookkeeping involves recording all economic operations in books of account. In this case, it is not enough to keep a revenue and expense ledger. Full accounting consists of several documents. These include:
journal,
general ledger accounts,
subsidiary ledger accounts,
trial balance of general ledger accounts and subsidiary ledgers,
list of assets and liabilities.

In addition to the above, an entrepreneur settling in full accounting is also obliged to prepare financial statements, which include balance sheets, profit and loss accounts and additional information and explanations. FA Partners provides entrepreneurs with full support in settling the company's finances on a full accounting basis.