Most accounting transactions are made on the basis of automatically entered transactions (invoices, payments, proceeds, payroll operations, depreciation of fixed assets). In this guide, you will find examples of how to create transactions that cannot be entered through other documents and will therefore be created by yourself.

To create an entry, go to: Accounting -> Transactions -> New Transaction

1. Recognition of share capital
a) the share capital has been transferred to a bank account
Debit: 102x Bank account
Credit: 3100 Share capital in nominal value

b) a private limited company founded without a contribution to the share capital
Debit: 3101 Unpaid share capital
Credit: 3100 Share capital in nominal value

The following transaction shall be added with the payment date of the share capital:
Debit: 102x Bank account
Credit: 3101 Unpaid share capital

c) a private limited company founded without a contribution to the share capital, the payment deadline is fixed
Debit: 1330 Receivables from owners
Credit: 3100 Share capital in nominal value

The following transaction shall be added with the payment date of the share capital:
Debit: 102x Bank account
Credit: 1330 Receivables from owners

2. Bank service fees
Debit: 5350 Banking services
Credit: 102x Bank account

3. The money is transferred from the bank account to the cashier’s account
Debit: 1010 Cashier’s account
Credit: 102x Bank account

4. The money is transferred from the cashier’s account to a bank account
Debit: 102x Bank account
Credit: 1010 Cashier’s account

5. Settlements with the reporting person (As of April 2021, there are expenditure reports in the program, and we recommend that you prefer them when entering checks from the reporting person)

An advance payment will be made to the reporting person

a) Money from a bank account or cashier’s account
Debit: 1340 Other short-term receivables
Credit: 10xx Bank account or cashier’s account

NB! Expenditures (checks) made by the reporting person are entered as purchase invoices and recorded as paid with the „Reporting Person“ account.

b) A separate entry shall be made to offset the advance payment on expenditure received and the transaction on expenditure incurred:
Debit: 2690 Other accruals
Credit: 1340 Other short-term debts

c) In case the amount received as an advance exceeded the actual amount of the expenditures and the reporting person reimburses the amount, an entry shall be made:
Debit: 102x Bank account or cashier’s account
Credit: 1340 Other short-term debts

Post compensation of expenses
a) checks/invoices are entered under purchase invoices as usual and recorded as paid with the „Reporting Person“ account. As a result of the payment, the debt to the reporting person is recorded in the general ledger.

b) the debt is paid to the reporting person
Debit: Bank account or cashier’s account
Credit: 2690 Other accruals

If desired, separate accounts can be created for the reporting person or existing ones can be renamed. When creating new ones, it must be made sure that they are reflected in the correct lines of the balance sheet.

6. Value-added tax (VAT)
Whether VAT is due or prepaid can be seen in the VAT report (in Accounting menu). Under this report, you can save the closing entry of the VAT account period, which transfers the amount due or overpaid sum to account 2510 pooled account of VAT. If VAT is due, the amount is in credit. If there is an advance payment, the amount is in debit.

a) VAT is due:

Entry when transferring VAT from the bank to the EMTA prepayment account:
Debit: 1520 Tax prepayment account
Credit: 102x Bank account

Settlement of VAT liability with a prepayment account (follow the date of the transaction from the statement of EMTA operations, usually on the 20th):
Debit: 2510 Pooled account of VAT
Credit: 1520 Tax prepayment account

b) There was a prepayment with regard to VAT

Transferring the amount of VAT prepayment to the tax prepayment account (follow the date of the transaction from the statement of EMTA operations):
Debit: 1520 Tax prepayment account
Credit: 2510 Pooled account of VAT

In case a refund request has been made regarding the amount in the prepayment account, EMTA will transfer this money to the company’s bank account. Make an entry in the company’s account when the money is received:
Debit: 10xx Bank account
Credit: 1520 Prepayment tax account

7. Dividends
The basis for the payment of dividends is a decision on the basis of which an accounting entry is made and the payable income tax must be calculated.

a) Dividends at the standard rate (income tax 20/80):
Debit: 3600 Retained profit (loss) 1000.00
Debit: 6900 Dividend income tax 250.00
(or 53xx Corporate income tax expense on dividends)
Credit: 2xxx Corporate income tax debt on dividends 250.00
Credit: 2xxx Dividend debt 1000.00

b) Dividends with preferential rate (income tax 14/86 and 7%):
Debit: 3600 Retained profit (loss) 2000.00
Debit: 6900 Dividend income tax 325.58
(or 53xx Corporate income tax expense on dividends)
Credit: 2xxx Income tax withheld from dividends 7% 140.00
Credit: 2xxx Corporate income tax debt on dividends 325.58
Credit: 2xxx Dividend debt 1860.00

c) Dividend payment entry:
Credit: 102x Bank account 1000.00
Debit: 2xxx Dividend debt 1000.00

Dividends are declared on the form TSD of the month following the payment in annex 7 and on the INF1 form (submitted by the 10th).

d) Upon transfer of income tax from the bank account to the prepayment account of the EMTA, the following entry shall be made:
Debit: 1520 Prepayment tax account
Credit: 102x Bank account

e) An entry is made (date according to the statement of EMTA operations) to set off the tax liability and the prepayment account:
Debit: 2xxx Income tax withheld from dividends 7% (in case there are dividends with preferential rate)
Debit: 2xxx Corporate income tax debt on dividends
Credit: 1520 Prepayment tax account

8. Loan entries (NB! Account numbers may vary depending on the nature of the loan!)

a) obtaining a loan, a short-term loan
Debit: 102x Bank account
Credit: 2110 Short-term loans and notes

b) loan repayment, short term loan
Debit: 2110 Short-term loans and notes
Debit: 6410 Interest expenses
Credit: 102x Bank account

c) obtaining a loan, long-term loan
Debit: 102x Bank account
Credit: 2810 Long-term loans

d) transfer of the short-term part of a long-term loan
Debit: 2810 Long-term loans
Credit: 2120 Short-term part of the long-term debt

e) loan repayment
Debit: 2120 Short-term part of the long-term debt
Debit: 6410 Interest expenses
Credit: 102x Bank account

Examples of entries that are created automatically when documents are saved:

1. Sales invoices
The company is not subject to VAT
Debit: 1210 Accounts receivables 100.00
Credit: 4xxx Sales revenue 100.00

The company is subject to VAT
Debit: 1210 Accounts receivables 120.00
Credit: 2511 VAT on sale 20.00
Credit: 4xxx Sales revenue 100.00

2. Proceeds
Debit: 10xx Bank account or cashier’s account
Credit: 1210 Accounts receivables

3. Prepayment receipt (Without sales invoice) (Operations -> Incomings -> New receivable)
Debit: 10xx Bank account or cashier’s account
Credit: 2210 Purchasers’ prepayments

4. When linking the advance payment to the sales invoice, a second entry shall be made on receipt. The date of entry is the date of the sales invoice.
Debit: 2210 Purchasers’ prepayments
Credit: 1210 Accounts receivables

5. Purchase invoices
The company is not subject to VAT
Debit: 5xxx/6xxx Expense account (or 18xx Fixed assets)
Credit: 2310 Trade creditors

The company is subject to VAT
Debit: 5xxx/6xxx Expense account
Debit: 1510 Debit input VAT
Credit: 2310 Trade creditors

When entering car costs, use the appropriate type of VAT, either 20% Car costs (100% for business use) or 20% Car costs (partly for business use)

100% of the purchase invoice for the cost of a business car
Debit: 5xxx Car costs 100.00
Debit: 1513 VAT on car expenses (100%) 20.00
Credit: 2310 Trade creditors 120.00

Entry for the cost of purchase invoice of a car used partly for business purposes. When entering the purchase invoice, it is not necessary to write down the amount of car costs on several lines, it is enough to select the correct type of VAT and the entry will be made correctly.
Debit: 5xxx Car costs 110.00
Debit: 1514 VAT on car expenses (partial) 10.00
Credit: 2310 Trade creditors 120.00

Fixed assets’ purchase invoice entry. The type of VAT 20% Acquisition of fixed assets must be selected for the purchase invoice.
Debit: 18xx Fixed assets
Debit: 1512 VAT paid on the acquisition of fixed assets
Credit: 2310 Trade creditors

6. Payments
Debit: 2310 Trade creditors
Credit: 10xx Bank account or cashier’s account

7. Prepayments made to creditors (Operations -> Payments -> New payment)
Debit: 1xxx Prepayments
Credit: 10xx Bank account or cashier’s account

8. When linking the prepayment to the purchase invoice, a second entry is made with the payment with the date of the purchase invoice
Debit: 2310 Trade creditors
Credit: 1xxx Prepayments