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Accounting and Payroll in Cyprus

Cyprus

Accounting and Payroll in Cyprus

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Accounting 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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Organisations that can assist with Accounting and Payroll

  • > TopSource Worldwide

    TopSource Worldwide offers a complete range of employer services that allows you to employ and pay people promptly, consistently and compliantly locally and internationally to suit your business needs. Our systems and processes are designed to work with your technology, and we bring decades of experience and a track record of success to our operations.

    More Details Visit Website
  • > Blue Marble Global Payroll

    Simplified Global Payroll Managing payroll in multiple countries is complicated with different systems, deadlines, and languages in each country, lack of reporting, and constantly changing laws and regulations. Trying to manage global payroll via fax and email with excel spreadsheets leads to data security issues, fines, and penalties for non-compliance. Blue Marble has solved global payroll challenges with cloud-based technology, customized aggregated monthly reporting, and a hybrid service model in 150+ countries around the world.

    More Details Visit Website
  • > Sovereign Group

    Sovereign offers a range of advisory and support services to assist companies of all sizes to establish successful business operations in foreign markets

    More Details Visit Website

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