Accounting Records you must keep

You are required by law to keep proper books and records of your Cyprus Limited Company that are considered necessary to prepare the Financial Statements of the company at the end of each Financial year, which must include:

  • details of the assets that the company owns
  • debts the company owes or is owed
  • inventory the company owns at the end of each financial year
  • the calculations you used to work out the inventory figure
  • all money spent by the company, for example, receipts, petty cash books, orders, and delivery notes
  • all money received by the company, for example, invoices, contracts, sales books, and till rolls
  • any contracts signed by the company
  • any other relevant documents, for example, bank statements and correspondence

You must keep the records 6 years after the end of the financial year they are related to and must be ready and available for inspection by the relevant authorities (in case of an investigation).