Managing Primary Documentation
The basis for every accounting entry
Go to the Accounting Services pageChecked against the official source:
A primary document is the basis for recording a transaction. No document means no basis: an accounting entry not supported by a document is treated as unjustified in an inspection, however real the underlying business event may be.
Retention periods
- primary documents, ledgers and financial statements — at least five years after the reporting year (Art. 29 of the Law on Accounting); the procedure is set by the Regulation on Documents and Document Flow (reg. No. 3538);
- tax returns with attachments — at least three years after the year of filing (Art. 84 of the Tax Code).
Main primary documents
- electronic invoices (ESF) (Art. 47 of the Tax Code);
- certificates of work completed and delivery notes;
- cash documents and cash register receipts;
- expense reports and business travel documents;
- contracts and powers of attorney.
Formal requirements
- All mandatory document details are present
- Signatures of authorised persons
- The content of the document matches the actual transaction
- Prepared on time — at the moment of the transaction or immediately afterwards
- No improperly documented corrections
The costliest mistake
Documents for services from which it is impossible to understand what exactly was done. A certificate stating "consulting services rendered" with no description of the scope and result is a typical ground for disallowing the expense. In such a situation, the reality of the service has to be proven by other means.
Storage
Documents must remain available for the entire period that may be covered by tax control. Article 88 of the Tax Code provides the reference point for these periods — keeping documents for less than that period means being left without evidence exactly when it is needed.
Put your documents in order
We will check how your primary documents are prepared and point out what will not withstand an inspection.
Go to the Accounting Services pageFrequently asked questions
Can we keep only electronic copies?
The rules for electronic documents are determined by law and by the terms of contracts with counterparties. Destroying paper originals and keeping only scans is risky — they do not have the same evidential weight.
How long must primary documents be kept?
At least five years after the reporting year (Art. 29 of the Law on Accounting).
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