The financial statements of a micro accounting unit in Slovakia are governed by the Slovak Accounting Act No. 431/2002 Coll. and the relevant measures issued by the Ministry of Finance of the Slovak Republic (MF SR). Micro accounting units have simplified obligations compared to small, medium, and large accounting units.
Definition of a Micro Accounting Unit
Under § 2a of Act No. 431/2002 Coll., a micro accounting unit is an entity that meets at least two of the three conditions as of the balance sheet date for both the current and the preceding accounting period:
Total assets do not exceed €350,000
Net turnover does not exceed €700,000
Average number of employees does not exceed 10
A micro accounting unit cannot be a public-interest entity (e.g., a bank or an insurance company).
Contents of the Financial Statements of a Micro Accounting Unit
A micro accounting unit prepares financial statements consisting of the following components:
Notes – may be simplified; in some cases they are not required
It is not required to attach supplementary notes to the financial statements unless mandated by specific regulations.
Company Settings in ABRA Flexi
First, you need to configure the correct company settings. On the Legislatíva tab, set the Typ účtovnej jednotky to Mikro účtovná jednotka.
Calculating Financial Statements
To calculate the individual statements, use the Zoznam zostáv (Report List) in the Účtovníctvo (Accounting) menu.
Here, calculate the Balance Sheet and Profit and Loss Statement for micro accounting units. Select the report marked as MUJ and click the Výpočet (Calculate) button.
Generating the .xml File for Import to the EDaně Portal
Select the calculated reports. By clicking the Účtovná závierka button, you will generate an XML file containing both the balance sheet and the profit and loss statement, ready for import to the EDaně portal.
FAQ
Is it possible to generate financial statements for a micro accounting unit via the web interface?
Not yet, but we are working on it.