Blog

Management reporting and management accounting: the cornerstones of informed decision making
ADVICES, TIPS, EXPERIENCES / 16. 2. 2024
In today’s rapidly changing business environment, it is crucial to not only understand market dynamics, customer behaviour and internal processes, but also to closely monitor the financial health of the company and its long-term development. Management reporting and management accounting are invaluable tools that lead to a deeper understanding of these aspects and enable business...
Respond to requests from the Tax Office
CASE STUDIES / 11. 1. 2024
We were contacted by an entrepreneur who had submitted three VAT control reports, which had only sections A, i.e. the supplies made, filled in. He is a quarterly VAT payer. Unfortunately, the former accountant did not enter the documents at the input and the submitted control reports did not correspond to reality. He subsequently submitted...
The beginning of the year from an accounting and inventory perspective
ADVICES, TIPS, EXPERIENCES / 6. 1. 2024
Here we are in the new year 2024. We wish you all good health, good luck and of course professional success and may it carry us through this year. At the beginning of the new year, we will be closing the previous one in the accounts. Don’t leave the delivery of last year’s and December’s...
Voluntary registration for VAT
TAX ADVICE / 14. 12. 2023
Voluntary registration for VAT can be considered whenever the conditions for compulsory registration are not met and the person is a so-called taxable person. This means that he/she carries out an economic activity defined in the VAT Act and wants to be a VAT payer. For example, consider the situation of a newly established limited...
Consolidation package – big news and changes in the area of taxes and levies
TAX ADVICE / 22. 11. 2023
In October 2023, the Chamber of Deputies approved and on 22 November the President of the Republic approved the consolidation package, which will increase levies on the self-employed and all taxpayers. The changes will affect property tax, VAT, income taxes. We now offer you an overview of some of the most significant changes.   From...
An amendment to the Labour Code was approved on 1 October 2023. Attention, it brings significant changes!
HUMAN RESOURCES / 9. 11. 2023
1st area of change: performance agreements A number of changes relate to work performance agreements. As from 1 October 2023, employees working under a work performance agreement are entitled to additional payments for working on rest days and public holidays. The threshold of CZK 10,000 from which social security and health insurance is deducted from...
Why (not) keep accounting data at an accountant’s home or at a firm that doesn’t know how to treat it
ADVICES, TIPS, EXPERIENCES / 13. 10. 2023
Accounting data: what a company should keep and what should be left to the accountant Accounting data is an important source of information for managing, planning and directing a company. Every company should systematically and regularly work with the data it holds in its accounts and use it to have a comprehensive view of its...
Case study: when a server with accounting and its backup burns down
CASE STUDIES / 12. 10. 2023
Today we bring you new sad stories of our clients. Fortunately, they always have a good ending. With their input, we want to make you think about whether you are handling your accounting data in their best interests and yours. They are the kind of situations that most ordinary business people would probably not consider...
Accounting and tax changes that could be coming in 2024
NEWS / 14. 9. 2023
We’ve put together a taster of the new things we’ll have to deal with in 2024. The government is preparing a raft of accounting and tax changes in a bid to fill the Treasury coffers. It’s even taking a swipe at employee benefits, which until now have seemed untouchable. It is debating what to tax...
Case study: poor accounting and the “gift” of high corporate income tax
CASE STUDIES / 14. 9. 2023
We have decided to post stories from time to time about our accounting practice and the problems we help solve to our clients. We are doing this (apart from a bit of self-promotion, of course) with one main goal in mind. Namely, to show that even in the area of accounting and taxes, which is...