VAT Treatment
- financial services exemptions
- taxable commissions
- cross-border transactions
- electronic services
Fintech & financial services in Poland
Accounting begins with understanding your business model
Traditional accounting firms usually ask for invoices. We start with a different question: How does your business make money? Understanding the business model is the foundation of compliant accounting.
For fintech companies, every transaction may have different accounting and tax consequences depending on:
customer money flows
commission structure
settlement model
agency relationships
principal vs. intermediary role
foreign exchange operations
lending activities
investment services
digital assets
cryptocurrency transactions
Financial controls
Transaction Reconciliation and Financial Controls
Fintech businesses may process thousands of transactions through payment providers, banks, settlement accounts, trading platforms and internal systems. Reliable accounting requires the reconciliation of these Polish accounting records and a clear understanding of outstanding balances transforming to IFRS.
Depending on the business model, data available and agreed scope, Progress Holding can support:
- Reconciliation of bank accounts, payment-provider statements and accounting records.
- Reconciliation of payment transactions, commissions, refunds, chargebacks and settlement balances.
- Accounting for amounts payable to merchants, customers or other counterparties, where applicable to the client's business model.
- Reconciliation of intercompany balances and transactions with group entities.
- Month-end closing procedures, including the investigation of material differences and outstanding items.
- Documentation of accounting policies and agreed reconciliation procedures.
Regulated financial activities
Regulatory Environment in Poland
Many financial activities in Poland are regulated by the Polish Financial Supervision Authority (KNF). Depending on the nature of your business, operating legally may require authorization, registration or notification under the applicable financial services regulations. Progress Holding supports clients throughout the regulatory process and works closely with specialist legal and compliance advisers where regulatory licenses or notifications are required.
Examples include:
Payment Institutions
Small Payment Institutions
Electronic Money Institutions
Investment Firms
Brokerage Activities
Consumer Lending
Certain Crypto-Asset Service Providers (subject to evolving EU and Polish regulations)
Other regulated financial activities
Tax first
Tax analysis before implementation
One accounting decision made incorrectly at the beginning may create years of tax risk. Each project begins with a written accounting and tax assessment tailored to your business model. Before implementing accounting procedures we analyze:
Corporate Income Tax
- revenue recognition
- deferred income
- provisions
- financial instruments
Withholding Tax
- international payments
- foreign investors
- cross-border structures
Transfer Pricing
- related party settlements
- group service agreements
Digital assets
Accounting for Crypto-Assets and Digital-Asset Businesses
Digital-asset businesses may have complex transaction records involving exchanges, wallets, trading platforms, tokens, customer transactions and crypto-related service fees.
Progress Holding supports the accounting and tax aspects of crypto-related business models, subject to the nature of the activities and available transaction documentation.
We coordinate with specialist legal, tax and regulatory advisers where the business model requires expertise outside the agreed accounting engagement.
High transaction volumes
Accounting for complex financial transactions
We support companies processing high volumes of financial transactions. We understand that transaction accuracy is just as important as financial reporting.
Our accounting services include:
bookkeeping
reconciliations
VAT compliance
CIT compliance
month-end closing
statutory reporting
annual financial statements
audit support
One provider, one finance function
Outsourced finance department for Fintech Companies
Growing fintech businesses often need a finance team before they build one internally. One partner supporting finance, compliance and business operations. Progress Holding acts as your outsourced finance department by providing:
accounting
payroll
HR administration
management reporting
budgeting support
B2B contractor settlements
financial controls
reporting for investors and headquarters
Teams and contractors
Payroll & B2B Services for Fintech Teams
Many work under B2B contracts.
Fintech companies frequently engage:
- software developers
- compliance specialists
- risk managers
- consultants
- sales teams
- outsourced technology providers
Progress Holding supports communication with:
Communication with Polish Authorities
Polish Financial Supervision Authority (KNF)Tax OfficeZUSStatistics Office (GUS)BanksAuditors
Our clients benefit from having one local partner coordinating accounting and regulatory reporting.
Management reporting
Management Reporting for Investors
Investors and management require more than statutory financial statements. We prepare reports including:
Revenue Analysis
Income by product, customer segment and market. Operational activity and business growth indicators.
Cost Analysis
Technology, personnel, compliance and operating expenses.
Cash Flow Reporting
Monitoring liquidity and funding requirements.
KPI Dashboard
Examples include:
KPI Dashboard
KPI examples
Monthly recurring revenue (MRR), where applicable
Gross margin
Customer acquisition cost
Operating expenses
Cash position
EBITDA
Accounts receivable ageing
Industry: Investment services · International group
Cyprus Brokerage House Establishing a Polish Subsidiary
Challenge
A Cyprus-based investment firm established a Polish subsidiary to support its European operations. The company required a local accounting and tax partner who understood its brokerage business model, the accounting treatment of financial transactions and the reporting requirements of its international headquarters.
Our solution
Progress Holding reviewed the Polish subsidiary's operating model and relevant revenue streams, developed accounting procedures and supported the implementation of accounting and reporting processes.
The engagement included accounting and tax support, payroll, coordination with the Polish tax authorities and preparation of financial information for the parent company's reporting requirements. A specialized accounting policy was applied to reflect the client's business model and agreed reporting needs.
Results
- Accounting procedures aligned with the Polish subsidiary's brokerage activities.
- Periodic financial reporting for international headquarters.
- Coordinated accounting, payroll and tax administration.
- A local finance function supporting the subsidiary's ongoing operations.
Why us
Why Fintech companies choose Progress Holding
We understand financial business models
Accounting starts with understanding how your platform operates.
Regulatory Awareness
Experience supporting businesses operating within regulated financial sectors.
Tax Before Accounting
Every engagement begins with analyzing the tax consequences of your operating model.
Cryptocurrency Knowledge
Experience supporting businesses involved with digital assets and crypto-related accounting matters.
International Experience
Supporting foreign investors establishing operations in Poland.
One Integrated Team
Accounting, payroll, reporting and regulatory coordination.
Dedicated Account Manager
One experienced contact coordinating all services.
Not sure which of these you need?
Send us your plan. We'll contact you within 24 business hours with a proposed scope of services.
Answers before you call
Frequently Asked Questions
Can you support companies applying for a KNF license?
Yes. We support the accounting, tax and financial-information aspects of projects involving regulated financial activities. Where a licensing project requires legal advice, regulatory analysis or preparation of specialist application documents, we coordinate with qualified legal and compliance advisers. The exact scope of our work is agreed separately for each project.
Do you provide tax opinions before accounting implementation?
Yes. We analyze each business model individually and prepare recommendations on the accounting and tax treatment of transactions before implementation.
Can you support cryptocurrency-related businesses?
Yes. We have experience with accounting and tax considerations for crypto-related business models and coordinate with specialist advisers when additional expertise is required.
Can you prepare management reports for investors or group companies?
Yes. We deliver monthly management reports tailored to the reporting requirements of shareholders, headquarters and management teams.
Can you support B2B contractors and payroll?
Yes. We provide payroll, HR administration and accounting services for employees, consultants and outsourced service providers.
Tell us how money moves through your platform. We will tell you what it costs to account for it.
A written accounting and tax assessment tailored to your business model — the deliverable at the start of every fintech engagement. Written answer within 24 business hours.
Our approach
Why Progress Holding Is Different
Most accounting firms ask for your accounting records. We begin by understanding your business model.
Only after analyzing how money flows through your platform do we design accounting policies, tax treatment and reporting processes. This approach helps reduce tax risk, supports regulatory compliance and provides management with meaningful financial information.
For fintech businesses, good accounting is not just about compliance—it is a strategic asset that supports growth, investor confidence and regulatory readiness.
Book a consultation with our fintech specialists.