Keeping accounts for companies – commercial companies, shops, both retail and wholesale – requires consideration of many aspects specific to this branch of business.

Commercial activities can be conducted in various organizational and legal forms, ranging from individual business activity (sole proprietorships), through partnerships (usually civil partnerships and general partnerships), to commercial law companies (most often limited liability companies and limited partnerships).

Regardless of the legal form of commercial activity, the correct determination of PKWiU (Polish Classification of Goods and Services) codes for each commercial activity is crucial from an accounting perspective, which translates into tax matters. While the basic VAT rate in Poland is 23%, in many cases VAT rates for specific goods and services are lower. Correctly defining PKWiU codes for such activities is therefore important, as it determines the applicability of different VAT rates (VAT exemption or reduced VAT rate) for each specific activity, in accordance with this classification. As you can see, the issue of correct PKWiU codes is crucial from the very beginning of commercial activity, as it has a significant impact on the correct accounting of economic events related to this activity from a tax perspective.

Commercial activity, depending on the organizational and legal form in which it is conducted and the scope of its activity, can be conducted in the form of a tax revenue and expense ledger, a commercial book (full accounting), or a flat-rate accounting system.

Proper inventory management, which can be maintained manually or electronically in a structured manner, plays an extremely important role in commercial activity from an accountant’s perspective. When managing a warehouse, particular attention should be paid to accurate inventory balances, monthly balances, and year-end balances (after conducting a physical inventory). The sales value for tax purposes is determined by inventory levels, which influences the taxable income and the tax amount.

In every commercial activity, we encounter so-called goods returns – in such cases, this issue must be monitored very carefully and inventory levels must be reconciled.

In the case of retail sales, it is necessary to maintain a cash register, fiscalize documents, and receipts with a Tax Identification Number (NIP) can be issued up to PLN 450 (simplified invoice).

When trading with foreign entities, EU VAT registration is essential.

In the accounting and bookkeeping of trading entities, special attention should be paid to cash transactions. For such payments, cash reports should be maintained to document these transactions – not everyone remembers this in practice.

In the accounting of commercial entities, it is also important to remember to register for VAT if the threshold of PLN 200,000 is exceeded, which can be easily forgotten. VAT registration – to obtain the status of an active VAT payer – is completed using the VAT R form.

Our company, PRWT Księgowość i Obsługa Biznesu sp. z o.o., has been providing accounting services to commercial companies for many years, so we are well-versed in the specifics of such businesses and the accounting required. We work for both Polish entities conducting commercial activities in Poland and for many foreign entities and companies that have established a commercial presence in Poland.

If you are interested in our accounting services, please contact us.