Accounting services REQUIREMENT
All Cyprus companies must maintain proper accounting records and prepare annual Financial Statements in line with International Financial Reporting Standards (IFRS). These must be audited by a licensed auditor and submitted to the Cyprus Tax Department and the Registrar of Companies. Accurate bookkeeping and timely submissions are key to ensuring compliance and avoiding penalties. More information on such requirements can be found here.
Our Approach to Accounting Services
At Asterisk, we don’t just keep your books in order — we simplify the entire accounting process for you.
Using reliable, technologically advanced accounting software, we manage your bookkeeping based on the data you provide — invoices, agreements, bank statements etc. From there, we prepare your Financial Statements in line with applicable standards and send you a first draft for review.
Once approved, we coordinate directly with the auditors, ensuring they have everything they need to carry out their procedures efficiently. Throughout this process, our team remains your single point of contact, keeping things moving and minimising any back-and-forth on your end.
The result? A smooth, transparent experience that frees up your time and ensures full compliance.
Services Provided
Our team of professionals will perform day to day support in the preparation of accounting records in accordance with international financial reporting standards including:
- Assisting with the accounting/bookkeeping function of the company based on information we will be provided with;
- Take care of the Tax & VAT requirements of the Cyprus Company at all times. More information on tax services can be found here;
- Providing advice on accounting treatment on complicated transactions and financial reporting matters;
- Assist with preparation of IFRS Compliant Financial Statements with full set of accompanying notes on our specialised software;
- Liaising with the auditors, providing them with everything they will need for their audit.
CYPRUS Payroll Services
When we provide accounting services we also assist with the monthly payroll function of any Company, where required, no matter how many employees on the payroll, through our specialized payroll software as follows:
- Assist with the monthly payroll function and relevant calculations;
- Assist with the payments of PAYE (monthly taxes payable) and payments to Social Insurance;
- Preparation of monthly payslips and any other relevant statutory compliant forms (TD.63 – Employee Remuneration form etc);
- Assist with the submission of the Annual Employer form (TD7) to the competent Tax Authorities;
- Registration to the Social Insurance Department for new employer and new employees as required;
- Registration to the Tax Authorities to obtain a Tax Identification code for employees;
- Assistance with the annual Employee Income Tax return (TD1), required to be submitted once a year.
* The above services are for indicative purposes only. Please contact us for more information on the specific requirements of your entity in Cyprus and how we can assist.
CONTACT US
We provide the services we would like to experience ourselves. Contact us today to see how we can better assist you.
