LLC/S.r.o. and its accounting

Limited Liability Company (LLC) is one of the most popular forms of business in Slovakia. However, this type of company also has its obligations, especially in the field of accounting.

Basic obligations of LLC:

Registration in the Commercial Register: Every LLC must be registered in the Commercial Register. This registration includes information about the company, such as the company name, registered office, business purpose, amount of registered capital, and names of directors.

Keeping accounting records: LLCs are obliged to keep accounts and regularly submit financial statements. These statements must contain accurate information about the financial situation of the company.

Filing tax returns: Every LLC is required to file tax returns. These returns must be filed within the deadlines set by law.

Accounting of LLC:

Accounting is a key part of every LLC. Among the main accounting obligations of LLC are:

Keeping accounting books: LLCs must keep accounting books in which all financial transactions are recorded.

Preparation of financial statements: At the end of each accounting period (usually the calendar year), LLCs must prepare financial statements. These statements must contain accurate information about the financial situation of the company.

Archiving accounting documents: LLCs must archive all accounting documents and records for at least 10 years.

The obligations of LLC in the field of accounting are extensive and important. Proper accounting management is crucial for successful and lawful business operations. It is important for every LLC to be aware of its obligations and to comply with all relevant laws and regulations.