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Vorozhbitova Krystyna

Chief Accountant

Leading specialist with practical experience in economics and accounting

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Micro and small financial reporting. Accountant advice.

This year has been rich in changes in the filing of financial statements by micro and small enterprises. The period for interim financial reporting ends – 9 months. From the list of forms of state statistical observations and financial reporting that can be submitted in electronic form, it follows that the “updated” forms No. 1, No. 2 (S0110012), as well as No. 1-ms, No. 2-ms (S0111004 ) are filed starting with statements for 9 months of 2019.

Recall that these forms were updated by order of the Ministry of Finance dated May 31, 2019 No. 226 (entered into force on July 15, 2019).

Accordingly, income tax payers – quartermakers (who are small or micro) need not oversleep this moment.
For enterprises – single-tax group 3, non-profit organizations, micro-enterprises, as before, an annual reporting period has been established.

Let us remind you that small businesses were excluded from the number of those “lucky ones” who are allowed not to draw up or submit interim (quarterly) financial statements. The corresponding changes were made to Order No. 419 (Resolution of the Cabinet of Ministers of July 17, 2019 No. 625) and entered into force on July 24, 2019.

Once according to the “updated” forms, reporting is submitted already for 9 months, then it can be assumed that the norm regarding the submission of quarterly reports by small enterprises has also worked “in a regular mode” – that is, small enterprises must submit financial statements already from the report for 9 months of 2019.

But again, this is only an assumption. There is no clear explanation yet. Accordingly, there is still a small hope that the Ministry of Finance will publish a “good” explanation on this score. At the same time, in oral consultations, the statistics service says exactly that it is already necessary to submit for 9 months.

Let us remind you that interim (quarterly) financial statements (from those who are obliged to submit it to the statistics authorities) should be included in statistics no later than the 25th day of the month following the reporting quarter. In the case we are interested in (for 9 months of 2019) – no later than October 25.

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