Accounting
Full accounting: what is it?
Accounting books kept under the Accounting Act
Full accounting means accounting books: a chart of accounts, entries on accounts, a balance sheet and a profit and loss account. Commercial companies and large businesses must keep them.
Key answers
- What it is
- Keeping accounting books under the Accounting Act: accounting policy, a chart of accounts, entries on accounts and, after the year, a balance sheet, a profit and loss account and notes. Taxable income results from the accounting result adjusted for tax differences.
- Who it affects
- Mandatory for commercial companies (partnerships and capital companies, e.g. limited liability companies, joint-stock companies, limited partnerships) and for individuals, civil and general partnerships of individuals and professional partnerships whose net revenue from the sale of goods and products in the previous financial year was at least the equivalent of EUR 2,500,000 (art. 2(1)(1) and (2) of the Accounting Act). Others may choose it voluntarily.
- When
- The obligation depends on revenue for the previous financial year. A voluntary choice requires notifying the tax office before the financial year starts (art. 2(2)).
- Where
- The rules are set by the Accounting Act, and the books are kept in accounting software or at an accounting office. Income for PIT and CIT is calculated from the books, and the fixed-asset register includes the data for tax depreciation (art. 22n(1) of the PIT Act).
How it works in Zaksio
Zaksio keeps full accounting: a chart of accounts, a general ledger with append-only entries, a balance sheet and a profit and loss account.
This is information, not legal advice. As of 2026-10. Deadlines and rules may change, so check them in the official source.
Source: Accounting Act, art. 2
