Do you run a real estate development company in Warsaw and are looking for an accounting firm that understands the complexity and specifics of this industry? FinaLab offers specialized accounting services for developers, helping you record project costs, correctly account for revenues, and ensure full compliance with regulations.
A developer builds. We account for it – in detail.
I recommend the FinaLab accounting office, thanks to which I was able to solve my tax problem very quickly. I was offered very reliable and professional help, and on top of all that, great contact with a specialist who answered all my questions and helped me find the best solution. Support at the highest level! I highly recommend them!
Robert Furmanek
Opening hours: Monday-Friday: 09:00 - 17:00 | hello@finalab.pl | +48 725 352 674
The real estate development industry involves long-term projects, high financial outlays, and complicated regulations. Correctly recording the costs of a development project, settling contracts with clients, VAT, and escrow accounts are challenges that require not only diligence but also specialized accounting knowledge.
We know the realities of development companies and the rules of KSR No. 8 (Polish National Accounting Standard). We account for investments step by step — land, construction, services, taxes, and transfer to the balance sheet and profit and loss account. We take it off your hands.
Every client receives support from a dedicated accountant. This is your personal advisor who will not only meticulously manage your books but also answer your questions and proactively inform you about important matters. We build relationships based on trust and understanding of your needs. In case of questions or doubts, we are in constant contact with our clients. The relationships and substantive support are always overseen by Justyna and/or Norbert – the company owners.
If you feel that accounting is taking up too much of your time, you are afraid of errors in your settlements, or you are lost in the maze of regulations – a free call to FinaLab is the first step to solving these problems.
We reply within 24 hours
If you are starting a business, contact us to take advantage of our accounting office’s attractive „starter” offer. We
offer comprehensive assistance in setting up a business.
Within a development project, direct costs such as the cost of land acquisition, site preparation, building materials, and labor are recorded, as well as indirect costs that are common to several projects or the entire developer’s activity (e.g., management costs, office service costs) and require appropriate allocation to specific investments.
The chart of accounts should be adapted to allow for a detailed recording of costs broken down by individual development projects and their stages (e.g., land purchase, design, construction, marketing, sales). It is recommended to use analytical accounts for the „Operating costs” account or accounts from team 5 „Costs by type of activity and their settlement” with further division into specific projects.
Costs common to several development projects (indirect costs) should be recorded in a separate account and then, at the end of the reporting period, allocated to individual projects using appropriate allocation keys that reflect how they were used (e.g., in proportion to area, revenues, or direct costs).
The costs of creating residential units or development services, which have been accrued but not sold by the end of the tax year, are not recognized as tax-deductible costs in that year. They become a tax-deductible cost only at the moment of selling the units with which they are associated.
Land purchased for a future development project is recorded in the „Goods” account (if it is intended for resale in an unprocessed state) or „Work in progress” (if it is to be built on). The initial value of the land is its purchase price plus costs related to the purchase, e.g., notary fees and tax on civil law transactions.
FinaLab is a professional accounting office that combines traditional accounting with modern solutions.
Warsaw, Domaniewska Street 37
Monday – Friday: 9:00 AM – 5:00 PM
hello@finalab.pl
+48 725 352 674
