Accounting records form the basis for all tax calculations, filings, and business decisions. The new year is an ideal moment for companies to review whether their accounting procedures are consistent, accurate, and compliant with current legislation.
In practice, documentation is often submitted late or incomplete, resulting in additional administrative work and increased risk of errors.
🔍 Key highlights:
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timely submission of documentation to accounting,
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clear separation of business and private expenses,
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accurate recording of cash and non-cash transactions,
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reconciliation of bank statements with accounting records,
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consistent archiving of documentation.
Well-maintained records provide better insight into business performance and significantly reduce risks in the event of a tax audit.
💡 Why this matters
Tax authorities primarily review the completeness and traceability of accounting records during audits. Companies with properly maintained records throughout the year usually experience faster and smoother audit procedures.
👉 If you want clear, reliable accounting records and full insight into your business performance, contact K2A Accounting Ljubljana for expert support and professional tax advice.