Business Outsourcing

Business outsourcing services in Cyprus

N. Vorkas & Co provides business outsourcing services in Cyprus. These services help the management of businesses focus on the operation, productivity, and efficiency of their business, giving the following services in the hands of our experienced staff. As a result, all financial services are done properly and on time, avoiding fraud and errors.

Bookkeeping

Our team of bookkeepers can provide the flexible accounting services that your business needs.
Our accounting services include:

  • Updating and keeping accounting books and records using software
  • Reconciliation of bank statements
  • Debtors and Creditors analysis and balances
  • Preparing unaudited financial statements

Payroll

Payroll services will make business more effective and efficient to comply with Labor Laws and Regulations.

Our payroll services include:

  • Monthly payroll calculation
  • Calculation of monthly insurance contributions
  • Preparation of monthly payment receipts for employees (Payslip)
  • Preparation of IR7
  • Sending an electronic file to the bank to pay employees
  • Preparation of annual employee earnings and withholding tax (IR63)
  • Payment of Social Insurance
  • PAYE payment

Some of the benefits of using outsourced payroll services are:

  • Complete payroll timely and accurately to avoid mistakes and omissions that can lead to fines and extra charges
  • Harmonization with Income Tax and Social Insurance laws
  • Saving on equipment and employee costs, software licenses and upgrades

Management Accounts

On behalf of the company management, we prepare management accounts (financial statements) to present the financial performance and position of the company at a point in time.

In order to monitor your business’ progress and plan for the future, we make sure that your business will have accurate and timely information available. Management accounts can be prepared monthly, quarterly, semiannually, or annually.

How N. Vorkas & CO can help

Our firm will give you bespoke services based on your business needs. Also, we use the understanding and insight gained from the audit as a basis for helping you develop strategies to drive your business forward. We can help you better understand and navigate the challenges of your sector.