Financial and Accounting Services

Sterling Accounting offer comprehensive financial and accounting services conducted in the English language.

Your accounting records will be run in the Polish language in accordance with Polish standards, as required by the local laws.  However, contact with clients will be conducted in English, either in person or via telephone or email.

We can also arrange for the translation of your documents into English – or any other language – through the services of a sworn translator.

Our standard company accounting package consists of:
  • Keeping accounting books in accordance with the Accounting Act and tax regulation based on documentation supplied by the client.
  • Keeping VAT registers and submitting VAT returns to the Tax Office
  • Calculation of advance payments of Income Tax
  • Keeping asset records and calculating depreciation
  • Representation at the Tax Office and ZUS during audits
  • Preparation of financial statements
  • Preparing intra-community supplies reports
It is also possible to include additional services as required, such as:
  • Limited company registration
  • Bank account handling and payment processing
  • Collection of documentation from clients’ offices
  • Redirection of correspondence to Sterling Accounting office
  • Organisation of accommodation and use of Conference Rooms for the Board or company employees
  • Introduction to banks and insurance companies
  • Reporting to the Central Statistical Office and The National Fund for the Rehabilitation of the Disabled
  • Translation of accounting records and documentation
  • Drawing up documents resulting from meetings of the Board of Directors or Shareholders in accordance with the regulations of the Code of Commercial Companies
  • Drafting civil-law contracts, eg: lease agreements, loans, lending, etc
  • Writing company’s charter of accounts and accounting policies
  • Making an INTRASTAT declaration
  • Business and tax optimisation consulting

Polish regulations can be complex and ambiguous and the formal requirements can be rather restrictive.  Our specialists are able to provide clients with detailed instructions on how to conduct their businesses in Poland from an accounting point of view in order to fully comply with these requirements.

At Sterling Accounting we can guide you through the most important tax laws in order to avoid common mistakes in areas such as the issuing of VAT invoices or posting costs to minimise tax burdens.

Our Charges

Because each of our foreign clients has a unique set of needs and expectations, the cost of providing an accounting service in the English language is negotiated individually during our first meeting, where detailed terms of engagement can be negotiated.

The price of bookkeeping services is mainly influenced by the number of accounting documents in a given month – mainly purchase and sales invoices – but also including other factors, such as the character of the business, complexity of the book entries, number of fixed assets, number of bank accounts, import/export, number of branches and any additional services required.

 

HR and payroll services

Companies hiring employees in Poland should be aware of the numerous obligations imposed on them by Polish law.  Without expert guidance in the provisions of the local tax laws, social insurance, the regulations of the Labour Code and the numerous rules set out by the Council of Ministers, foreign companies can easily become lost in the complexity of these laws.

HR and payroll services offered by Sterling Accounting include:

  • Preparation of complete documentation required for personnel
  • Keeping of personal records of employees
  • Registration of employees with the Social Insurance Institution
  • Calculation of wages, salaries and payroll
  • Making monthly declarations to the Social Insurance Institution
  • Preparation of annual tax forms for employees and tax offices
  • Monitoring holidays
  • Sending pay slips
  • Monitoring of periodic medical examinations
  • Calculating staff travel expenses

In addition, Sterling Accounting offers to keep full documentation – including travel expenses – for domestic and international business trips undertaken on behalf of companies by the Board of Directors, as well as creating an internal company policy setting out the guidelines for the settlement of such expenses.

The cost of our Personnel and Payroll services depends on the scope of duties entrusted to our company. These costs are set individually with each client during our initial meeting where the formal terms of engagement are agreed.

 

Limited Company Registration

Sterling Accounting offers a comprehensive registration service for limited liability companies.  As part of this service, we are able to arrange all the formalities related to the filing of an application with the National Court Register and the filling in of the appropriate forms with the Tax Office and the Social Insurance Institution (ZUS).

We also provide assistance in obtaining the Company’s corporate address and can also facilitate introductions to appropriate banks and insurance companies.

In Poland, there are two ways of setting up a limited liability company and the choice of method will determine the cost and duration of the registration process and how it is conducted.

 

  • Registering a company in the S24 mode (via internet)

This process involves using a template of Contract of Association provided by the Ministry of Finance, however, contributions to the company can only be made in monetary form.

The process of completing the application for registration of a company in the National Court Register takes about 1.5 hours and can be completed in the offices of Sterling Accounting in the presence of the Company’s shareholders.

The cost of this process is 500PLN plus court fees of 350PLN.  Once the company is registered, a PCC (civil law transaction) tax of 0.5% of the company’s share capital must be transferred to the Tax Office.

Applications for registration in the National Court Register are considered by the Court on working days during the Court’s working hours and the new company may appear on the Court Register the next day after the application has been submitted.

This is by far the easiest way to start a business in the form of a limited liability company.

Following completion of the registration process, Sterling Accounting will prepare the full documentation required by the Tax Office and attend to the registration of the company for Social Insurance purposes.

  • Registration of a limited liability company with a contract in the form of a Notarial Deed

This procedure is generally used when the provisions of a company’s deed go beyond the template used for electronic registration or when contributions to the share capital are to be provided in a non-cash form by contributions in kind.

In this mode, the cost of registration of the company starts from 1,500PLN and depends on the complexity of the agreement.  Other costs include Court Fees of 600PLN for Notarial Services and the PCC (civil law transaction) tax.

Registering a company in this way can take two to three months to complete.  Once complete, as with the S24 mode, Sterling Accounting will arrange all formalities and procedures in relation to the Tax office and Social Insurance Institution (ZUS).

 

  • Purchase Ready Company

Sterling Accounting can also assist with the purchase of a ‘purchase ready’ limited company.  To find out more about this option, please send an inquiry by email or contact our office directly by telephone.

 

Our Experience

At Sterling Accounting we combine our extensive industry knowledge with deep accounting expertise to work with companies shaping the business fabric of Poland in the future.The experienced team of professionals at Sterling Accounting offer a comprehensive range of accounting and payroll services to business enterprises, both large and small, with services designed to meet our clients’ specific needs.

We are particularly well placed to assist international enterprises seeking to set up a business in Poland.  Our proficiency in the English language, combined with our high levels of industry expertise, enable us to offer clients a unique service which is both personal and professional.

Our English speaking professionals will expertly guide you through the complexities of working in an unfamiliar business environment, ensuring that taxation and other legal and  administrative obligations are met, and that your business is fully compliant at all times.

Our Expertise

Sterling Accounting offers a range of services, including:

  • Tax and accounting services
  • Payroll and HR services
  • Business consulting
  • Assistance with setting up new businesses

We represent our clients in dealings with the Tax Office, the Social Insurance Institution (ZUS) and other public administrative bodies, including Tax Audits.

 

 For more details please contact us on +48 503 501 450 or send us an enquiry to biuro@kpsterling.pl. Click here to contact us.

 

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