BOOKKEEPING DOCUMENTS

We like to inform you how to care about accounting documents and what we need to make your bookkeeping correctly according of Slovak legislative:

1. BOOKKEEPING DOCUMENTS

Incoming invoices, Outgoing invoices, Cash in hand and all receipts, Bank statements, Others

New numbering shall be applied to accounting documents starting with number 1 at the beginning of every accounting period (calendar or financial year) – for example 3000001. (for incoming and outgoing invoices, Cash in hand).

This information is of general nature. We are open to agree on adjustments according to your needs.

For accounting purposes we need original documents for the appropriate period or relevant documents scanned or e-mailed as a copy.

INCOMING INVOICES

1. Every invoice received should be given a number in chronological order reflecting the date of receipt. In case of a large number of invoices, several sets of numbers may be used (for example invoices for purchase of goods, overhead costs, invoices on advance payment).
2. A book of incoming invoices should be held and delivered together with invoices. If you do not have it, we can provide it.
3. VAT payers might recover the input VAT given the particular invoice is issued by a VAT payer and comprises all data required by the Slovak VAT Act:
   
   1. Commercial name and address of supplier and customer, place of business or
 branch (we recommend to quote the data recorded in Commercial Register),
   2. VAT number of supplier and customer,
   3. IČO – Identification number of supplier and customer
   4. DIČ – Tax identification number of supplier and customer,
   5. Invoice number (according to supplier’s numbering),
   6. Date of issue,
   7. VAT date (date of delivery or provision of service),
   8. Description and amount of goods or extend of services,
   9. Total price without VAT or discount or allowance if they are not included in the unit price, Tax rate, amount of VAT.

OUTGOING INVOICES

Invoices have to be numbered in chronological order. If necessary more than one set of numbers may be used. On each invoice must be full name and address of the supplier including the information about registration on Business Register with the Nr.

VAT payers:

1. Have to observe that invoice (so called tax document) issued includes all required data:
   1. Commercial name and address of supplier and customer, place of business or branch (we recommend to quote the data recorded in Commercial Register),
   2. VAT number of supplier and customer,
   3. IČO – Identification number of supplier and customer,
   4. DIČ – Tax identification number of supplier and customer,
   5. Invoice number (according to supplier’s numbering),
   6. Date of issue,
   7. VAT date (date of delivery or date of provision of service, date of received payment),
   8. Description and amount of goods or extend of services,
   9. Total price without tax or discount or allowance if they are not included in the unit price,
   10. Tax rate,
   11. Amount of VAT
2. are responsible for correct calculation of tax on tax documents;
3. must issue tax documents/invoice within 15 days from the supply or received payment

CASH BOOK

1. Balance of cash on hand must be positive.
2. Company may keep more than one cash book according to different currencies,
places or personnel responsible.
3. Balance of cash in foreign currency is recorded in cash book in the given foreign currency.
4. Every income or expense must be documented with appropriate bill (record from
electronic cash-desk, slip, income or expense bill, invoice).
5. Expenses of the same kind with different dates of issue e.g. post costs, office material, may be recorded as one entry. It is possible to issue so called summary cash bill for certain period time /max. 1 month/. We will provide you with a specimen of such summary cash bill upon request.
6. Every cash bill must be numbered in chronological order according to the date of deposit or withdrawal. Numbered accounting documents should be organised according to their numbers and small size documents should be attached to an A4 size sheet of paper. The same principles are valid for all others cash books. A summary cash expense bill has to be issued subsequently.
7. Summary cash bills have to be numbered in chronological order.
8. VAT payers can deduct input VAT from purchased goods and services :
   
   1. On the basis of a bill from electronic cash-desk. Such bill must include the
      commercial name, address and VAT number of the seller, bill number, date of issue, and date of delivery, description and amount of goods (services), tax base, VAT rate and total sum of VAT expressed in EUR.
   2. On the basis of an invoice under the formal requirements described in A.4.
9. Cash receipts must be signed by person who issued the cash bill and approved the expenditure. Cash book must be signed by person who is responsible for cash on hand.

BANK STATEMENTS

For bookkeeping we need all bank statement for the appropriate period of all your company bank accounts including bank accounts established abroad.

Any other financial transactions as payments of loan, deposit, leasing, paid services according of the contact as rent contracts, we need copies of the contracts.

PAYROLLS

In case our company does not provide payroll services for your company, please arrange submitting of monthly and yearly conclusions of payrolls which must include:

• company total gross wages,
• total social security payments deducted from wages of employees,
• total social security payments executed by employer,
• total health insurance payments deducted from wages of employees,
• total health insurance payments executed by employer,
• total tax deposit on wage tax,
• total sickness benefit payments,
• total deductions from salaries and wages incl. description,
• contribution to social fund for the respective month.

INTERNAL DOCUMENTS

Travel reports of each employee should be submitted with final calculation and all receipts. In case you need – we provide such reports for inland and foreign travel trips.

2. STOCK RECORDS

Companies with recorded stock of material or goods should attach a summary of:

• receipt of material or goods in acquisition prices for the relevant month,
• despatch of material or goods in acquisition prices (optionally evaluated by weighted average or by FIFO method) for the relevant period (i.e. consumption),
• balance of stock in acquisition prices at the end of the relevant month.

3. COPIES OF CONTRACTS

Further it is necessary to submit copies of all contracts (rent, leasing, credit and loan contracts) or any other documents relevant to the company´s accounting. We recommend you to send us any draft of contract for checking by tax advisor before its signing.

4. DOCUMENTS OF THE COMPANY

For general file of each company in our office we ask you submit copies of following documents:

• the Memorandum of Association,
• founding agreement, if the join stock company is established by single founder then Article of association,
• excerpt from Business register,
• bank account agreement,
• certificates of tax registration for income tax, value added tax etc.,
• financial statements and income tax return of last accounting period,
• last VAT return (if registered),
• inventory of balance sheet accounts as per balance sheet day of the previous accounting period.

In case of any questions do not hesitate to contact us.