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Accounting, Auditing and Payroll in Cyprus

Cyprus

Accounting, Auditing and Payroll in Cyprus

Cyprus related forum posts

 

  1. starting a business

    hi can anyone tell me who are the best people to approach for information on starting a business up in cyprus. e.g. solicitor, estate agent. ect. i run a business here but want to start one from scratch in cyprus, in the leisure side of things. thanks charlie

    Total Posts: 6 Last post by aladjihassan

  2. Wholesale/Distribution to Private retailers, a question on "culture" of how business is conducted between them

    I am looking to distribute my own brand of Womenswear from Spain where I reside to carefully selected Boutiques & Clothing Shops in Cyprus. How is business conducted at a distributor/wholesale level to privately owned retail shops as far as finance & agreements are concerned? I will be visiting Cyprus early next year after making key appointments before my visit and would like information on t

    Total Posts: 1 Last post by mistry

Accountants in Cyprus

It is recommended, and probably in your best interest, to employ an accountant in Cyprus. They'll nearly always save money, and more importantly, will make your business in Cyprus the most financially efficient it can be. Used wisely, accountants in Cyprus can make you more profitable than ever.

Accountants in Cyprus provide a range of services. They can look after everything financial, from fundamental book-keeping to more expert advice. You could hire accountants in Cyprus simply to prepare financial statements for your tax return, or you may require them for other added-value services such as auditing. Accounts must be audited each year, unless the company or region you are based in is exempt.

It is essential to choose an appropriate accountant for your circumstances. If you just want an accountant to take care of your book-keeping, then a small firm will probably suffice. However, if you require astute financial and planning advice, a larger, more reputable company might be needed. Check they're chartered / registered with a recognised accounting body. It is important to lay out exactly what you want them to do for you and what the charges will be.

Keeping a sound financial record is essential. Apply yourself. Have a good system in place and then the time that you do spend on accounts won't be so burdensome. Ensure you retain receipts for everything you buy. It is recommended that you keep a ledger or book with the details of what the receipt is for. Keep a record of all sent and received invoices too. These will keep you informed that you've been paid or have money owing, etc.

Ultimately, applied and diligent record-keeping will keep your accountancy costs low when doing business in Cyprus.

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