Setting up accounting and tax records means creating the rules a Ukrainian company uses to record transactions, calculate taxes and report. Key Solutions prepares the accounting policy, document flow, templates and tax registers for LLCs and sole proprietors.
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In short
- When: a new LLC or sole proprietorship (FOP), a change of tax regime, VAT registration, a new accountant or system.
- What you get: an accounting policy order, a chart of accounts, document templates, a document flow schedule and a tax regime recommendation.
- Timing: in our experience, 2–4 weeks for a small company after we receive the documents.
- Fee: agreed individually, depending on business lines, tax regime, VAT, foreign trade and headcount.
- Start: tell us what the company does and which tax regime you plan.
What accounting set-up is and when you need it
Accounting set-up is the first step of any bookkeeping engagement: the owner approves the rules and the accountant keeps the books under them. The director or owner is responsible for organising accounting and keeping documents for at least three years (Art. 8(3) of Law No. 996-XIV), and the company sets its own accounting policy and document flow rules (Art. 8(5)).
- a new LLC keeps accounts from its registration date (Art. 8(1) of Law No. 996-XIV);
- the company changes its tax regime or registers for VAT;
- the accountant, outsourcing provider or accounting system changes;
- a warehouse, foreign trade or first employees appear.
What we set up in accounting and tax records
| Area | What we set up | Legal basis |
|---|---|---|
| Accounting policy | Inventory valuation, depreciation, provisions, materiality | Art. 1, 8(5) of Law No. 996-XIV |
| Primary documents | Templates, mandatory details, signing rights | Art. 9(2) of Law No. 996-XIV |
| Document flow | Who passes each document to whom, and when | Art. 8(5) of Law No. 996-XIV |
| Tax records | Income and expense registers, VAT, tax differences | Clause 44.1 of the Tax Code |
Choosing a tax regime during set-up
We choose the regime on the numbers: expected revenue, cost structure and whether customers and suppliers pay VAT.
- General regime: corporate income tax at 18% (clause 136.1 of the Tax Code) and full financial statements.
- Single tax group 3 for an LLC: 3% of revenue for VAT payers or 5% with VAT included in the single tax (clause 293.3), revenue up to 1,167 minimum wages a year (clause 291.4), which is UAH 10,091,049 in 2026.
- VAT registration is mandatory above UAH 1 million of taxable supplies in 12 months, except for single tax payers of groups 1–3 (clause 181.1).
Sole proprietors choose a group together with the social contribution and military levy calculation, see accounting for sole proprietors. A detailed tax burden analysis is part of our tax optimisation service.
What the service includes
- review of business lines, contracts and cash flows;
- tax regime choice with a tax burden calculation;
- accounting policy order and chart of accounts;
- primary document templates and document flow schedule;
- accounting system and tax register configuration;
- briefings for the director and accountants.
How we work
- Business review. We study your business lines, contracts and cash flows.
- Tax regime. We compare the options on the numbers and agree the choice with the owner.
- Accounting policy. We draft the policy order and the chart of accounts.
- Documents and workflow. We approve templates, the flow schedule and responsible staff.
- Set-up and briefing. We configure the system and brief your team.
Timing
In our experience, setting up the books of a small company takes 2–4 weeks after we receive the documents. Timing depends on the number of business lines, VAT, foreign trade and how quickly decisions are approved.
What affects the fee
- number of business lines and divisions;
- tax regime, VAT and foreign trade;
- headcount and stock items;
- state of the accounting system.
What we need from you
- charter, state register extract and tax regime details;
- standard contracts with customers and suppliers;
- who signs documents and approves payments;
- access to the accounting system;
- a contact person who approves the rules.
What you receive
- accounting policy order and chart of accounts;
- document templates and flow schedule;
- tax regime recommendation with calculations;
- configured accounting system and tax registers.
Legal basis
Legal basis for the work
- Art. 8 of Law No. 996-XIV — organisation of accounting and accounting policy;
- Art. 9(2) of Law No. 996-XIV — mandatory details of primary documents;
- Clause 44.1 of the Tax Code — tax records based on primary documents;
- Clauses 181.1, 291.4, 293.3 of the Tax Code — VAT registration, single tax group 3 and its rates.
Risks and why set-up belongs with a contracted team
A mistake in the accounting policy or document flow repeats every month until an auditor or inspector finds it. Officials who keep accounts in breach of the established procedure are fined 8–15 non-taxable minimum incomes of citizens (NMDG) (Art. 164-2(1) of the Code of Administrative Offences), and incomplete paperwork turns into additional tax assessments. We work under a contract with agreed scope and liability; corporate documents are drafted by the lawyers at legal.ua.
Why Key Solutions
- Company
- ТОВ «АУДИТОРСЬКА ФІРМА «КЕЙ СОЛЮШНЗ», a Ukrainian limited liability company, EDRPOU code 39610085, registered on 30.01.2015. The company's details are public in the Unified State Register (ЄДР).
- Contract
- We work under a contract: scope, timing, liability and confidentiality are agreed before work starts.
- Group
- Key Solutions is part of Innova Consulting Group: legal matters are handled by legal.ua, crypto-asset taxation by crystal.tax.
- Office
- Our office is at 77 Velyka Vasylkivska St., Kyiv. We serve clients across Ukraine remotely. The specialists who run engagements are listed on the Our employees page.
Frequently asked questions
What does setting up accounting records involve?
It means creating the rules a company uses to record transactions and prepare reports: the accounting policy, a chart of accounts, primary document templates, a document flow schedule and the accounting system configuration. After set-up, the accountant keeps the books under these rules.
What is included in setting up tax records?
We choose the tax regime and configure the registers used to calculate taxes. VAT payers also get rules for issuing and registering tax invoices. Tax records must be based on primary documents, accounting registers and financial statements (clause 44.1 of the Tax Code).
Does a sole proprietor (FOP) need an accounting policy?
Law No. 996-XIV applies to legal entities, so the accounting policy order is an LLC document. A FOP keeps an income ledger, or an income and expense ledger on single tax group 3 with VAT (clause 296.1 of the Tax Code). We set up that ledger and income limit monitoring.
From what date must a new LLC keep accounts?
Accounts are kept continuously from the registration date until liquidation (Art. 8(1) of Law No. 996-XIV). The accounting policy, chart of accounts and document templates are best approved in the first month, before the first payments and deliveries.
How much does accounting set-up cost?
The fee is agreed individually. It depends on the number of business lines, the tax regime, VAT and foreign trade, headcount and the state of the accounting system. We quote after reviewing the business and fix the price in the contract.
Who keeps the books after set-up?
Your in-house accountant can keep the books under the rules we prepare. Without an in-house accountant, Key Solutions keeps the books under an accounting services contract with the same scope and deadlines.
Related services
Let's discuss your accounting set-up
Tell us what the company does, which tax regime you plan and who will keep the books. We will reply with the scope, timing and fee.
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