What is the threshold for full accounting in 2024?

What is the limit determining the obligation to keep accounting books in 2024?

This limit has been calculated based on the euro exchange rate announced by the NBP on the first working day of October preceding the financial year. According to NBP table No. 190/A/NBP/2023, the average euro rate was 4.6091 PLN, setting the limit at 9,218,200 PLN for 2024.

How has the limit changed in 2024 compared to the previous year?

Comparing it with the previous year, the NBP average exchange rate on the first working day of October of the previous year (table No. 191/A/NBP/2022 – i.e., October 3, 2022) was 4.8272 PLN. A lower rate by 0.2181 euro resulted in the limit for 2024 being lower by 436,200 PLN.

What is full accounting?

Full accounting is a precise model for recording economic events, particularly popular in larger companies. It encompasses two main types of accounting: simplified accounting (e.g., KPiR, lump sum, tax card) and more advanced – accounting books.

In business practice, the use of full accounting, also known as accounting books, is often necessary. Though it may seem complex, understanding its principles is crucial for effective business management. In some cases, keeping accounting books is mandatory.

Mastering these aspects will facilitate not only effective business management but also finding the right accounting software or accounting office for support in settlements. BTLA Law Firm specializes in accounting services and can be a valuable partner in matters related to full accounting. The experienced professionals at BTLA can help understand accounting procedures, provide effective solutions, and ensure support in maintaining accounting books, contributing to the peaceful and compliant functioning of your company.