Doing business without a proper accounting is not possible neither in Slovakia, nor in other Countries. There is a strong obligation for companies and sole traders registered in Slovakia to have a bookkeeping in accordance with Slovakian legislation.
There are 2 types of bookkeeping dedicated to the selected form of business: Single-entry bookkeeping and Double-entry bookkeeping. First is designed for entrepreneurs who are not incorporated in the Companies Register of Slovakia. Most frequently these are sole traders.
Important! For sole traders only! Non-EU citizens are obliged to be registered in the Companies Register of Slovakia and run the second type of bookkeeping - double-entry bookkeeping. For Public Limited companies and Joint Stock Companies is also dedicated double-entry bookkeeping.