Bookkeeping Services in Cyprus, Limassol

Bookkeeping is the systematic recording of financial transactions (income, expenses, assets, liabilities). It helps ensure compliance, supports VAT reporting, and provides reliable data for decision-making.

Typically: transaction posting, general ledger maintenance, bank and card reconciliations, AP/AR tracking, expense classification, and periodic reporting. Scope can be adjusted to your business needs.

Yes. Monthly bookkeeping is recommended for active businesses and VAT-registered companies. Quarterly may suit low-transaction companies but reduces reporting visibility.

Yes. Proper bookkeeping supports VAT compliance (correct coding, VAT control accounts, reconciliation of VAT positions). VAT filings can be handled as part of the wider accounting/compliance scope.

Sales invoices, purchase invoices/receipts, bank statements, payment confirmations, payroll summaries (if any), and supporting documents for unusual or one-off transactions.

Yes. We focus on clean ledgers, reconciliations, and consistent documentation so annual financial statements and audits are smoother and faster.

Yes. We onboard by reviewing opening balances, ledgers, VAT position, and outstanding items, then align records with a consistent bookkeeping framework.

Yes. We support companies of different sizes, including SMEs, startups, and groups needing structured reporting and clear bookkeeping processes.

Pricing depends on transaction volume, VAT status, number of bank accounts, payroll complexity, and reporting needs.

Bookkeeping is the systematic recording, organizing, and maintenance of financial transactions of a business. It involves keeping track of income, expenses, assets, liabilities, and equity. Accurate bookkeeping is essential for several reasons:

1. Financial Management: Clear and up-to-date financial records provide valuable insights into the financial health of your business. They enable you to monitor cash flow, make informed decisions, and plan for the future.
2. Compliance: Proper bookkeeping ensures compliance with accounting standards, tax regulations, and other legal requirements. It simplifies the process of preparing financial statements and facilitates smooth audits.
3. Business Analysis: Well-maintained books provide the foundation for meaningful financial analysis. They help identify trends, assess profitability, and measure the performance of different business activities.

Our bookkeeping services adhere to relevant accounting standards, including International Financial Reporting Standards (IFRS) and the International Accounting Standards (IAS). Compliance with these standards ensures consistency, comparability, and transparency in your financial reporting.

At IBCCS TAX, we offer a range of bookkeeping services tailored to the specific needs of your business. Our services include:

1. Recording Transactions: We accurately record and classify your business transactions, ensuring that income, expenses, assets, liabilities, and equity are properly documented.
2. Accounts Payable and Receivable: We manage your accounts payable, ensuring timely payment to suppliers, and handle accounts receivable, monitoring customer payments and ensuring proper credit control.
3. Bank Reconciliation: We reconcile your bank statements with your financial records, identifying and resolving any discrepancies. This ensures accuracy and helps detect potential errors or fraudulent activities.
4. General Ledger Maintenance: We maintain your general ledger, organizing financial data into accounts and providing a clear overview of your financial position.
5. Financial Reporting: We prepare regular financial reports, including income statements, balance sheets, and cash flow statements. These reports offer a snapshot of your business’s financial performance and help you make informed decisions.

At IBCCS TAX, we understand the significance of accurate bookkeeping for your business. Our team of skilled professionals combines expertise in accounting and knowledge of Cyprus regulatory requirements to provide reliable and comprehensive bookkeeping services.

By entrusting your bookkeeping to IBCCS TAX, you can focus on running your business while having confidence in the accuracy and compliance of your financial records. Contact us today to discuss how we can tailor our bookkeeping services to meet your specific needs in Cyprus.