- The process of keeping books and tax records starts with handing the documents over in the client’s or elaborator’s place of business, based on the hand-over certificate
- Dividing of accounting documents into individual accounting components and administrations based on material and state of facts of each document
- Bringing each accounting document/case into books through the elaborator’s economic software, following accounting principles and rules, which are in compliance with Czech legislation in force
- Consulting unclear issues with a client, leading to a proper fulfilment of the service provided
- Day book
- General ledger
- Preliminary balance sheet
- Sales ledger
- Other sales ledger
- Purchase ledger
- Other purchase ledger
- Book of the banks
- Cash vouchers ledger
- Internal vouchers ledger
- Long-term tangible and intangible property ledger
- Small long-term tangible and intangible property ledger
- Human resources and payroll
- Other auxiliary books kept according to the client’s specific needs
- Monthly service
- Quarterly service
- Annual service
The tasks connected with the preparation and elaboration of final accounts and consequent balancing of the books include:
- Inventory of all balance sheet accounts
- Check of the nominal accounts
- Elaboration of a balance sheet and profit and loss report and a supplement to final accounts (in a simplified or a full extent), possibly cash and flow report
- Finding out the client‘s income from operations
- Printing the account books from economic software
- Archiving
Tax base assessment and the calculation of tax liability is carried out in the income tax return form or to other particular tax on the basis of income from operations found in final accounts or background papers and information received from the client:
- Elaboration of the tax return proposal
- Determining the client’s tax liability
- Calculation of the client’s possible tax prepayment liability
- Compiling a payments overview for the needs of the tax authority and the social security administration and of health insurance (how much, when, where to)
- Submission of the tax return proposal
- Submission of the overview proposal for the social security administration and the health insurance company
- Corporation Tax Return
- Income Tax Return
- Value Added Tax Return
- Road Tax Return
- Property Tax Return
- Acquisition Property Tax Return
- Overview of Receipts and Expenditure of a Self-employed Person for the Social Security Administration
- Overview of Receipts and Expenditure from Self-employment Activity and the Sum of Prepayments to the Health Insurance Company
- and others
This considers expert consulting and answering questions from the area of accounting and tax laws and other rules of law related to a particular tax, economic and business situation of a client.
Last but not least the service covers elaboration of methodical instructions, methods, procedures and internal regulations, which are required for fulfilling the principles of true and honest representation of facts, objectivity of accounting information and consistency of accounting methods.
The service is provided to all regular clients and is also offered as one-time consulting.
For our client’s needs the personal presence of our experts and the communication with financial and tax institutions‘ officers, the centres of social security and health insurance and other state and business institutions is provided, while individual tasks are carried out consisting mainly of submitting:
- Registrations
- Deregistrations
- Personal file of pension insurance (ELDP)
- Filings
- Reports
- Proposals
- Letters of explanation
- Confirmations
- Overviews
- Tax returns
- Remedies
- Participation at checking
- and other proceedings
- Each employee’s pay calculation, based on attendance and
other documents provided by the client in accordance with valid legislation
- Sickness refund calculation
- Pays and related governmental payments calculation, according
to the legal regulations valid in the European Union citizens’ home countries
- Payroll slips printing for each employee
- Monthly overview elaboration for the Social Security Authority
and all General Health Insurance Institutions
- Bank payment order preparation, mainly for each employee’s
net pay, all governmental payments of Social Security Insurance, General
Health Insurance, Income from Dependent Activity and Office-Holders Emoluments,
income tax, income tax collecting by special tax rates (so-called withholding
tax), the employer’s liability insurance for harm caused to the employees
by occupational accidents and job-relates illnesses
- Final payroll documents elaboration, needed for the monthly
payroll agenda and for financial accounting
- Payroll summarization of the company and each department/cost
centre
- Summarization of the employer’s liability insurance for harm
caused to the employees by occupational accidents and job-relates illnesses
- Statistical statements for ÈSÚ (Czech Statistical Office)
- Other summarizations according to the client’s request
- Calculation and administration of agency employees’ income
tax in accordance with the requests in Section 6, Article 2 of the Act No.
586/1992 Coll., on Income Tax
- Annual Account of Income Tax from Dependent Activity and
Office-Holders Emoluments for those employees who have signed the income-tax
payer statement on Income from Dependent Activity and Office-Holders Emoluments,
have required this kind of calculation, and are not requested to file the
income tax return themselves
- Taxable income confirmation from Dependent Activity and Office-Holders
Emoluments for the last calendar year, or part of the calendar year of the
employment contract duration, for those employees who have not required
the Annual Account of Income Tax from Dependent Activity and Office-Holders
Emoluments, and who file the income tax return themselves
- Employers´ Annual Account of Tax Advances on income from
Dependent Activity and Office-Holders Emoluments
- Employers´ Annual Account of income tax collecting by special
tax rates collected by withholding tax
- Annual statement elaboration for the Revenue Office – Headcount
on 1 December of the last calendar year
- Personal retirement insurance folder (ELDP) elaboration for each employee in three copies – for the employee,
for the Social Security Authority, and for the company agenda
- Annual payment calculation of a compulsory part of handicapped
persons employment, for the Labour Office, concerning employers with more
than 25 employees – so-called Announcement to the Labour Office
- Annual earning records completion for all employees employed
in the last calendar year
- Further related agenda
- Employer registration at the Social Security Authority
- Electronic connection provision with the Social Security
Authority
- Employer registration at General Health Insurance Institutions
- Employer registration for the employer’s liability insurance
for harm caused to the employees by occupational accidents and job-relates
illnesses
- Rate setting for the employer’s liability insurance for harm
caused to the employees by occupational accidents and job-relates illnesses
- Client registration in the SW database
- Possible changes performance in the registration data of
the employer
- Client representation in negotiations with governmental administration
authorities
- Personal Data Profile
- General Health Insurance Card Copy
- Employee’s agreement with keeping his/her personal information
in accordance with the Act No. 101/2002 Coll. , on Personal Data Protection,
as amended by following regulations
- Employment contract
- Employment contract amendments
- Income-tax payer statement on the Income from Dependent Activity
and Office-Holders Emoluments (so-called: pink declaration)
- Documents related to his/her working/non-working/educational
and other activities within 365 days before concluding the employment contract
with the client
- Social Security Insurance registration copy
- General Health Insurance registration copy
- Copy for the Labour Office of the record on accession of
an European Union citizen to work
- Documents administration related to the employment of the
European Union and third countries citizens
- Employees registration in the SW database
- Social Security Insurance deregistration copy
- General Health Insurance deregistration copy
- Copy for the Labour Office of the record on employment termination
of an European Union citizen
- Employment contract confirmation
- Personal retirement insurance folder (ELDP) for the whole year of the employment contract duration
- Elaboration of the employment contract of the employee
- Related documents collection, needed for the human resources
agenda administration with regard to a particular situation of each employee
– see Employee Personal Folder Administration
- Social Security Insurance registration of the employee
- General Health Insurance registration of the employee
- Record for the Labour Office on accession of an European
Union citizen to work
- Elaboration of amendments to the employment contract
- Announcement of potential changes in personal data of the
employee to governmental institutions (change of marital status, name, address,
etc. )
- Compulsory announcement for General Health Insurance Institutions
- Record for the Labour Office on the employment registration
of an European Union citizen – extension after each year of the employment
duration
- Personal folders archiving in accordance with the Social
Security Code
- other related services
- Elaboration of a proposal and the final version of the employment
termination notice
- Social Security Insurance deregistration of the employee
- General Health Insurance deregistration of the employee
- Record for the Labour Office on employment termination of
an European Union citizen
- Elaboration of the Personal retirement insurance folder of
the employee for the last part of the calendar year of the employment contract
duration
- Taxable Income Confirmation from Dependent Activity and Office-Holders
Emoluments for the last part of the calendar year of the employment contract
duration
- Employment contract confirmation elaboration
The economic life of each subject is closely related to many decisions about further processes leading to a constant economic growth. This requires implementation of partial steps which have to correspond to the Czech legislation in force. In cooperation with external legal, tax and auditorial consultants the clients are offered expert service leading to fulfilling the client’s business plan.
The obligation to maintain open-ended secrecy also applies to this type of a service.
The service covers consultancy mainly in the following areas:
- Act No. 563/1991 Coll., on accounting
- Act No. 586/1992 Coll., on income tax
- Act No. 235/2004 Coll., on value added tax
- Act No. 16/1993 Coll., on road tax
- Act No. 338/1992 Coll., on property tax
- Act No. 337/1992 Coll., on the administration of taxes and fees
- Act No. 280/2009 Coll., on tax rules
- Act No. 455/1991 Coll., on the small business
- Act No. 90/2012 Coll., on commercial corporations
- Act No. 89/2012 Coll., civil code
- Act No. 340/2013 Coll., on acquisition property
- Act No. 99/1963 Coll., civil procedure code
- Act No. 500/2004 Coll., administrative procedure code
- Decree 500/2002 Coll., by means of which some provisions of Act No. 563/1991 Coll., on accounting, are administered, as subsequently amended, for accounting entities, who are entrepreneurs keeping accounts in the system of double-entry bookkeeping
- Decree 504/2002 Coll., by means of which some provisions of Act No. 563/1991Coll., on accounting, are administered, as subsequently amended, for accounting entities, whose main activity is not entrepreneurial activity, if they keep accounts in the system of double-entry bookkeeping
- and other following decrees and regulations
- Advisory in labour and payroll law for the client and their
employees:
- Act No. 262/2006 Coll., on labour code
- No. 435/2004 Coll., on employment act
- Government Regulation No. 590/2006 Coll., on range and scope
of other important personal obstacles at work
- Government Regulation No. 595/2006 Coll., on the principles
of the unseizable amounts calculation
- Act No. 586/1992 Coll., on income tax
- Act No. 337/1992 Coll., on tax and charge administration
- Act No. 280/2009 Coll., on tax rules
- Act No. 582/1991 Coll., on social security organisation and
provision
- Act No. 589/1992 Coll., on social security insurance and
government employment policy contribution
- Act No. 54/1956 Coll., on health insurance of employees
- Act No. 592/1992 Coll., on general health insurance
- Internal directives and procedures elaboration for the
client, in accordance with the Czech Labour law and internal corporate
policy
- Guidelines elaboration for payrolls and related payments
calculation, for employees from the European Union countries, provided in
accordance with the legislation of the home country
- Optimal working hours organization
- Overtime working and costs-related problems solution
- Sickness and unexcused absence problems solution
- Staff turnover problems solution
- Motivation programs – bonuses, compensations, benefit programs
- Necessary agenda administration, linked to employment of
the European Union and third countries citizens
- Other related legal matters
Reporting of account data is carried out according to the client’s instructions and constitutes an objective analysis and presentation of information about the client’s company financial management or a detailed analysis of determined parts of the accounting agenda.
Final report or analysis are elaborated according to the individual requirements of a client, based on the resulting use:
- In-house use
- Public offices
- Banks
- Financial institutions
- and others
- Monthly payroll costs estimation, prepared with reference
to individual cost centres and to further specific requests of the client
- Actual monthly/annual costs analysis at 100% attendance (so-called
Perfect Pay Costs)
- Monthly overtime administration of each employee
- Monthly attendance indexes analysis, provided on behalf of
both the whole company and individual departments/cost centres
- Further economic analyses, provided on the client’s requests
All services are offered to small, medium-sized, and large corporations,
operating in all business branches and providing both service and manufacturing.
The whole export output from the software, and advisory and economic
analyses is available in English.
All the client’s matters are handled with respect to confidentiality
of the information conveyed, and time-unlimited discretion.
