Accounting for online stores is governed by rules specific to entities (individuals, civil partnerships, and commercial companies) conducting commercial activities. We discussed accounting for commercial companies in our previous article (https://prwt.pl/ksiegowosc-firm-handlowych/). Now, however, a few words about the specifics of accounting for economic events in this area of ​​commerce, which applies to online stores.

Unlike brick-and-mortar stores, the operations of online stores, by their very nature, have a much broader territorial scope than those of brick-and-mortar stores. They can cover the entire territory of Poland, but also, in fact, the entire EU and even the world. However, in the case of extraterritorial sales, such activities involve foreign transactions, both within the EU and outside the EU, the need for EU VAT registration, export and import documentation, and customs and tax documentation. All of these documents are crucial for proper accounting and the correct recording of economic events, and they impact the correct calculation of tax liabilities. This documentation and its proper maintenance are also crucial in the event of potential tax audits.

In Poland, online sales to individuals are regulated by law, allowing individuals to withdraw from a contract within 14 days, generally without providing any reason. Experience shows that this option is often used by online store customers. However, in such cases, after issuing a sales document (invoice, receipt), it is necessary to subsequently correct the accounting document to avoid unjustified VAT and income tax charges on such a sale, which ultimately failed. In large online businesses, these transactions must be monitored and their accounting reconciliation must be performed on an ongoing basis. In some cases, where payment is not made at the time of sale and is deferred, we may also encounter situations where, despite the goods being delivered by a courier company, payment is not made. In this case, such transactions should also be carefully monitored and not forgotten, as they unjustifiably burden the economic result.

In online sales, accounting documents include payment statements from electronic systems and bank payment statements. It’s also important to remember about electronic payment commissions paid, as they constitute costs of these operations and reduce taxable income. Monthly statements for such payments should be prepared and properly recorded.

In online stores, as with sales in brick-and-mortar stores, it’s also important to remember the need for fiscalization via a cash register and VAT registration after exceeding the PLN 200,000 limit (VAT registration using the VAT R form).

PRWT Księgowość i Obsługa Biznesu Sp. z o.o. provides accounting services for online stores; we are intimately familiar with the specifics of accounting in this area of ​​commerce.

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