Bookkeeping Services in Malta

Updated on Friday 21st June 2019

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Accounting is a major component in a business; however, it is made of several branches, each with its own characteristics. Among these, bookkeeping is one of the most important parts of the accounting services a company can ask for in Malta. Bookkeeping implies recording all the financial transactions of a business, which is why it plays an important role in all Maltese companies, no matter their sizes and the activities they undertake.

With a specialized team of Malta CPA accountants, our firm offers tailored bookkeeping services in order to meet all the requirements and needs of your local company. You can ask for our bookkeeping and accounting services in Malta, no matter the sector your company operates in.

In order to understand better why bookkeeping is so important, we present you below the services you can obtain by working with our Maltese tax advisors.

What are our main bookkeeping services in Malta?

For many people, accounting and bookkeeping are the same which is why they don’t see the need of having specialized personnel to keep the financial transactions up to date with the help of a bookkeeper. It is important to understand, however, the bookkeeping is actually an important part of the accounting of a company and this is why we come to you with tailored bookkeeping services in Malta which are tailored to this specific part of the accounting in your company.

Here are the main bookkeeping services we can provide for your company in Malta:
  1. recording of all financial transactions of the company during the financial year, in accordance with the law;
  2. preparing the financial documents required for bookkeeping in accordance with international and local standards;
  3. preparing and filing VAT returns (prior to that we can also help you register the company for VAT purposes);
  4. handling the payroll in your company (this too requires an accurate keeping of financial information on employees);
  5. handling all financial transactions in the company by sorting them according to the law.
Apart from bookkeeping services, we also invite you to work with our auditors in Malta for complete services.

Financial documents a company needs bookkeeping services for in Malta

The list of financial documents which need to be prepared and recorded in the accounting of a firm in Malta can comprise:
  • the supplies purchase invoices;
  • the sale invoices;
  • the invoices issued/received when renting office space;
  • the salaries and wages of employees;
  • the invoices received when buying office supplies;
  • the documents required when contracting loans with banks.
It is important to know that invoices can be issued for both sales and purchases made in cash or credit. Also, this information must be input when recording the financial transaction.

Our accountants in Malta can offer detailed information on all the financial documents which can be handled by our bookkeepers.

In-house bookkeeping vs accounting firms in Malta

Most of the times Maltese companies consider hiring an outside accounting firm or having the accounting of the business managed in house. There are benefits linked to both options, however, we decided to present you a few of the advantages if you decide to work with our accountants in Malta:
  • we will focus on the accounting part of your company alone, as we have specialized departments, including bookkeeping;
  • we use electronic support to record and keep track of all the documents registered;
  • all our services are tailored, in accordance with the size and activity of your company;
  • all our services are in line with the local and international accounting standards;
  • we only work with CPA accountants, so that we ensure the correct level of expertise.
Apart from the advantages mentioned above, we can also say most of the times, when having in-house accounting, the personnel in that department will be required to handle other aspects of the company management which will increase the pressure and lead to the underperformance of the business.

This is why our bookkeeping services in Malta will imply target solutions adapted to your needs.

Why choose our bookkeeping services in Malta?

Working with professionals have become important in Malta, considering the small country has become one of the most performant economies at European level. In order to help you focus on growing your business, we can provide you with specialized bookkeeping services in Malta.

Speaking about the Maltese economy:
  • by the end of 2019, Malta is expected to have a 5.5% GDP increase;
  • in 2020, the economy is expected to register a 4.8% growth;
  • the unemployment rate is predicted to decrease by 3.8% by the end of 2019;
  • in 2020, the unemployed rate is further expected to reach 3.9%.
For tailored bookkeeping services, please contact our accountants in Malta.