Accounting for a general partnership

Bookkeeping of general partnerships

A general partnership is an unincorporated partnership. Its attractiveness is due, among other things, to the fact that it can be established by both unincorporated individuals and legal entities (e.g., joint stock companies), the ease of incorporation and the low registration costs. One disadvantage is the unlimited liability of shareholders.

For your companies, we offer accounting solutions and services tailored to the regulations of the General Partnership Accounting Law. We offer both simplified accounting and full accounting, which requires, among other things, bookkeeping. With expert knowledge and experience, our specialists will provide you with a comprehensive service tailored to your needs.

What is the accounting of a general partnership?

The accounting of a general partnership depends on whether the company is just starting out or has been on the market for a long time, as well as the income it generates. The method of accounting for general partnerships is regulated by the Accounting Law according to which:

A general partnership that is just starting out or whose revenues for the previous fiscal year do not exceed €2 million may keep simplified accounting,
A general partnership that has been in business for some time, and whose revenues for the previous fiscal year exceed €2 million, is required to keep full accounting.

The extensive knowledge and many years of experience of specialists from the Warsaw and Katowice teams of the Aider Group (MDDP Outsourcing) allow us to provide professional and comprehensive simplified and full accounting for general partnerships. Thanks to the solutions and systems we use, we provide our clients with accounting and payroll services of the highest quality.

Preparation of financial statements

Keeping full accounting, owners of general partnerships are also required to prepare financial statements as of the balance sheet date on the basis of their books of accounts. Entrusting the accounting of your company in the hands of our specialists, you can count on the timely and professional preparation of the required financial statements. By entrusting the preparation of financial statements to our experts, you have the guarantee that they will be checked and prepared by experienced professionals who will make every effort to ensure that your reports are correctly and flawlessly prepared.

Access to online data

As part of the service of your general partnership, we enable you to take advantage of remote access to the benefits and solutions we offer. Based on electronic document circulation, remote accounting will give you the opportunity to view and accept invoices clearly and transparently at any time via computers, and mobile devices.

Online accounting, in addition to the ability to accept invoices and orders remotely, also allows you to have permanent and unlimited access to employee records, including e-holiday requests.