# cybooks — Full Site Content > Cloud-based accounting software built specifically for businesses registered and operating in Cyprus. cybooks is developed and operated by SMK Shape & Shift LTD, based in Paphos, Cyprus. It was founded by Christopher Dosin after identifying a clear gap in the market: established cloud accounting platforms such as QuickBooks, Xero and Sage are each optimised for their respective home markets (USA, Australasia, UK/Ireland) and treat Cyprus as an afterthought. cybooks was built from the ground up to handle the specific regulatory, tax and filing requirements of Cyprus. --- ## Company information - Legal name: SMK Shape & Shift LTD - Founder: Christopher Dosin (also founder of shapeandshift.dev) - Co-Founder: Sarah Madeline Kroll (Administration, Accounting, Legal) - Head of Growth: Andreas (Marketing) - Address: Grigori Afxentiou 3, ABC BUSINESS CENTER, 8010 Paphos, Cyprus - Commercial Register: HE406574 - VAT ID: CY10406574Y - Contact: hello@cybooks.com.cy - Phone: +357 97752423 - Website: https://www.cybooks.com.cy --- ## Homepage URL: https://www.cybooks.com.cy/ ### Headline Accounting software that speaks Cyprus ### Description cybooks handles VAT filing, VIES reporting, multi-currency invoicing, and real-time financials so you can run your business, not your books. Built for Cyprus. VAT & VIES compliant. 14-day free trial. No credit card required. Cancel anytime. ### Key Stats - 100+ Cyprus businesses - 99.9% Uptime guaranteed - 4.9/5 Customer rating ### Why global accounting tools fall short in Cyprus The three leading cloud platforms each own a specific home market: QuickBooks is built around US tax codes and Sales Tax logic; Xero was designed for GST environments in New Zealand and Australia; Sage is deeply rooted in UK and Irish compliance. All three have expanded globally, but Cyprus remains firmly in the "workaround" category — wrong VAT rates, no native VIES support, and filing workflows that simply don't map to how the Tax Department of Cyprus actually operates. Bolt-on localisation is not the same as built-in compliance. cybooks is. Pain points: - Wrong VAT rates out of the box: Generic tools default to UK or EU rates. Cyprus has four VAT rates (19%, 9%, 5%, 0%) with specific rules on which goods and services qualify. Getting this wrong means penalties. - No VIES filing support: If you trade with EU businesses, you must file quarterly VIES returns to the Cyprus Tax Department. Most global tools have no idea what VIES is, let alone automate it. - GESY payroll is missing: The General Health System contribution is mandatory for every employer and employee in Cyprus. You won't find it pre-configured in any tool that wasn't built here. - Support that doesn't know Cyprus law: When you call Xero support and ask about Intrastat declarations or the SDC (Special Defence Contribution), you get silence. Local compliance needs local knowledge. - Accountants work around the tool, not with it: Cyprus accountants end up exporting data, reformatting it manually, and re-importing it just to prepare a VAT return. That's not software doing its job. Founder quote: "We built cybooks because every business owner we knew was either paying their accountant for manual data entry, or spending Sunday nights fighting with spreadsheets that didn't understand Cyprus. There had to be a better way." — Sarah Madeline Kroll, Co-Founder, cybooks ### Why cybooks Generic accounting tools weren't built for Cyprus. cybooks was. That means correct VAT rates, proper VIES filing, Cyprus corporate tax compliance, and an interface that makes sense for local businesses. - Compliant with Cyprus Tax Department requirements - Pre-built Cyprus chart of accounts - Automatic exchange rates from the European Central Bank - Support from accountants who know Cyprus law - Data stored in EU-based servers. GDPR compliant. Key metrics: - 8+ hrs time saved per month - 0 VAT errors guaranteed - < 1 day setup time / full onboarding - 24/5 expert support ### Core Features - VAT Filing Made Simple: Automated VAT calculations and a prepared, ready-to-submit return for the Cyprus Tax Department. - VIES & Intrastat Ready: Full EU compliance built in. VIES reports and Intrastat filings handled automatically. - Real-Time Reporting: P&L, balance sheets, and cash flow dashboards updated the moment transactions occur. - Bank-Grade Security: 256-bit encryption, ISO 27001 certified infrastructure, and daily encrypted backups. - Save 8+ Hours a Month: Automate invoicing, reconciliation, and reminders so you can focus on your business. - Multi-Currency Support: Invoice in EUR, USD, GBP or any currency. Exchange rates update daily from ECB. ### How it Works 1. Sign up — Create your cybooks account in under 2 minutes. No credit card required. 2. Connect your bank — Link your Bank of Cyprus, Hellenic Bank, or 2,500+ other accounts securely. 3. Sync bank statements — Transactions are imported automatically. Historical data included from day one. 4. Record transactions — Invoices and expenses are categorised with the correct Cyprus VAT rates applied. 5. See real-time financials — P&L, cash flow, and VAT liability update the moment a transaction is recorded. 6. Confidently report — VAT returns and VIES filings are prepared and ready to submit to the Tax Department. ### Testimonials - "cybooks cut our monthly closing time by 60%. The VAT filing alone is worth every euro." — CFO, logistics company, Limassol (5 stars) - "Finally, accounting software that actually understands Cyprus tax law. No more spreadsheets." — Founder, property management firm, Nicosia (5 stars) - "We migrated all 40 of our clients to cybooks. The accountant portal is a game-changer." — Partner, accounting practice, Paphos (5 stars) ### Integrations Bank of Cyprus, Hellenic Bank, Alpha Bank, AstroBank, 2,500+ International Banks, Google Drive, Stripe --- ## Features URL: https://www.cybooks.com.cy/features ### Headline Everything your Cyprus business needs, nothing it doesn't ### Description cybooks is purpose-built for the Cypriot market. Every feature is designed to save time, reduce errors, and keep you compliant. ### Highlights - Set up in under an hour: Import your data, connect your bank, and start invoicing today. - No accounting degree needed: Designed for business owners, not just accountants. - Cyprus-specific by default: Correct VAT rates, chart of accounts, and filing deadlines pre-configured. ### Collaboration - Unlimited user roles and permissions - Accountant and bookkeeper access - Document attachments and storage - Activity logs for full transparency - Two-factor authentication for all users ### Invoicing & Billing - Create professional invoices in seconds - Multi-currency invoicing (EUR, USD, GBP and more) - Automated payment reminders - Recurring invoices and subscriptions ### VAT & Compliance - Automatic VAT calculation (19%, 9%, 5%, 0%) - VAT return preparation and ready-to-submit review - VIES report generation and filing - One Stop Shop (OSS) scheme support - Intrastat declarations - Audit trail for every transaction ### Reporting & Analytics - Real-time profit & loss statements - Balance sheet at any point in time - Cash flow overview - Accounts receivable & payable ageing - Custom report builder - Export to Excel or PDF instantly ### Banking & Reconciliation - Direct bank feeds from major Cyprus banks - Automatic transaction matching - Automatic matching of bills and expenses to bank entries - Foreign currency bank accounts - Petty cash tracking - Multi-bank account management ### Expenses - AI extraction of data from receipts, invoices, and documents - Forward bills by email for automatic extraction - Mobile receipt capture via app - Expense categories and projects ### Payroll - Cyprus payroll calculations - Payslips generation - Income tax calculation - GESY / Social insurance calculation - Employer calculations - Full compliance with local labour law ### Deadline Alerts cybooks automatically alerts you before every VAT return, VIES filing, and corporate tax deadline. Stay compliant without keeping a calendar. ### Mobile App (iOS only) The cybooks iOS app lets you manage your finances on the go. Snap receipts, track expenses, and keep an eye on your finances directly from your iPhone. Available for free on the Apple App Store. App Store: https://apps.apple.com/de/app/cybooks/id6473687755 --- ## Invoicing & Billing URL: https://www.cybooks.com.cy/features/invoicing-billing ### Headline Get paid faster with professional invoices ### Description Create, send, and track invoices that are fully compliant with Cyprus tax regulations, in any currency, in seconds. ### Highlights - Create invoices in seconds: Pre-built templates with your logo, colours, and payment terms, ready to send in a few clicks. - Multi-currency support: Invoice in EUR, USD, GBP, or any other currency. Exchange rates are handled automatically. - Recurring invoices: Set up subscriptions and let cybooks generate and send invoices on your schedule. - Automated reminders: No more chasing payments. cybooks sends polite reminders before and after due dates. ### How it works 1. Add your client: Enter client details once. They're saved for every future invoice. 2. Create the invoice: Pick a template, add line items, and cybooks handles VAT, totals, and formatting. 3. Send & track: Email directly from cybooks and monitor payment status in real time. ### Capabilities - Professional invoice templates: Customise layout, colours, and content. Add your branding and terms to make every invoice look polished. - Multiple payment methods: Let your clients pay via bank transfer. Display your banking details and payment instructions clearly. - Credit notes & adjustments: Issue credit notes linked to the original invoice. Keep your records clean and audit-ready. - Automatic VAT calculation: cybooks applies the correct Cyprus VAT rate (19%, 9%, 5%, 0%) based on the product or service type. - Compliant numbering: Sequential, gap-free invoice numbers that satisfy Cyprus tax authority requirements out of the box. - Multi-language invoices: Send invoices in English or Greek, ideal for domestic clients and international partners alike. --- ## VAT & Compliance URL: https://www.cybooks.com.cy/features/vat-compliance ### Headline Stay compliant without the complexity ### Description cybooks automates VAT calculations, return preparation, and filing deadlines so you can focus on your business, not paperwork. ### Highlights - Automatic VAT calculation: cybooks applies the correct Cyprus VAT rate (19%, 9%, 5%, 0%) based on the product or service type. - VAT return preparation: Generate your quarterly VAT return with a single click, ready to review and submit. - VIES report generation: Automatically compile and file your VIES return for intra-community supplies. - Full audit trail: Every transaction is tracked with a complete audit trail, keeping you prepared for any inspection. ### How it works 1. Record transactions: Enter your sales and purchases. cybooks automatically assigns the correct VAT treatment. 2. Review your return: cybooks prepares your VAT return. Review the summary and make adjustments if needed. 3. Submit with confidence: Export or submit your return knowing every figure is accurate and compliant. ### Capabilities - One Stop Shop (OSS) support: Sell digital services across the EU and let cybooks handle the OSS scheme calculations and reporting. - Intrastat declarations: Track goods movements across EU borders and generate compliant Intrastat reports. - Filing deadline alerts: Never miss a VAT return, VIES filing, or corporate tax deadline with automatic reminders. - Cyprus chart of accounts: Pre-configured chart of accounts aligned with Cyprus tax authority requirements. - Real-time VAT tracking: See your VAT position at any point in time. Know exactly what you owe before the deadline. - Reverse charge handling: Automatic reverse charge mechanism for services received from abroad, fully compliant with Cyprus VAT law. --- ## Reporting & Analytics URL: https://www.cybooks.com.cy/features/reporting-analytics ### Headline Know your numbers, grow your business ### Description From profit & loss to custom reports, cybooks gives you the financial clarity you need to make confident decisions. ### Highlights - Real-time profit & loss: See your revenue, expenses, and net profit updated in real time as transactions are recorded. - Balance sheet on demand: Generate a balance sheet at any point in time with a single click. - Cash flow overview: Understand exactly where your money is coming from and where it is going. - Export to Excel or PDF: Download any report instantly in your preferred format for sharing or archiving. ### How it works 1. Record your data: Enter transactions as they happen. cybooks categorises and organises everything automatically. 2. Choose your report: Select from profit & loss, balance sheet, cash flow, ageing reports, or build your own. 3. Analyse and act: Review the numbers, spot trends, and make data-driven decisions for your business. ### Capabilities - Accounts receivable ageing: Track outstanding invoices by age and follow up with overdue clients before cash flow is affected. - Accounts payable ageing: Monitor what you owe to suppliers and plan payments to optimise your cash position. - Custom report builder: Build tailored reports with the filters, date ranges, and groupings that matter to your business. - Departmental reporting: Break down income and expenses by department, project, or cost centre for granular insights. - Automated report scheduling: Set up reports to be generated and delivered to your inbox on a regular schedule. - Year-over-year comparison: Compare current performance against previous periods to spot trends and make informed decisions. --- ## Banking & Reconciliation URL: https://www.cybooks.com.cy/features/banking-reconciliation ### Headline Reconcile your books in minutes, not hours ### Description Connect your Cyprus bank accounts, let cybooks match transactions automatically, and keep your books accurate with minimal effort. ### Highlights - Direct bank feeds: Connect to major Cyprus banks and import transactions automatically every day. - Automatic matching: cybooks matches bank transactions to invoices, bills, and expenses so you don't have to. - Multi-currency accounts: Manage EUR, USD, GBP, and other currency accounts with automatic exchange rate handling. - One-click reconciliation: Confirm matched transactions with a single click. Reconcile your books in minutes, not hours. ### How it works 1. Connect your bank: Link your bank accounts securely. Transactions start flowing in automatically. 2. Review matches: cybooks matches transactions to your invoices and bills. Review and confirm with one click. 3. Reconcile: Mark everything as reconciled. Your books are accurate and audit-ready. ### AI-Powered Features cybooks uses AI to truly understand your invoices, bank transactions, and suppliers. It doesn't just extract data. It builds context that saves you hours of manual work. - AI-powered extraction, not just OCR: cybooks uses AI to understand the full context of every invoice. It identifies line items, amounts, dates, and supplier details with deep comprehension, not pattern matching. - Automatic VAT and tax rule detection: For every line item, the system determines which VAT rates and tax rules apply. No more guessing whether it's 19%, 9%, 5%, or reverse charge. cybooks figures it out automatically. - Smart transaction summaries: Every expense gets a concise, human-readable summary like "Restaurant visit" or "Office supplies". Later, when you review reports, you'll instantly know what each transaction was about. - Automatic supplier matching and creation: cybooks checks if a supplier already exists in your records and links the transaction automatically. If not, it suggests creating a new supplier pre-filled with data extracted from the invoice. - Bank transaction intelligence: Cryptic bank entries like "Amz ***772332" are no problem. cybooks identifies that this is Amazon, searches the web for context, and stores it. You never have to decode bank statements again. - Supplier context and smart categorisation: cybooks researches each supplier online and stores context. For example, that AWS is a "cloud infrastructure platform". With this knowledge, it automatically suggests categories like "Hosting" for AWS charges, making reconciliation effortless. ### Capabilities - Smart matching rules: cybooks learns from your previous matches and suggests the correct categorisation for recurring transactions. - Petty cash tracking: Record and reconcile petty cash transactions alongside your bank accounts for a complete picture. - Multi-bank management: Connect multiple bank accounts and view all your balances and transactions in one place. - Bill and expense matching: Automatically match incoming payments to outstanding bills and recorded expenses. - Discrepancy alerts: Get notified when transactions don't match so you can investigate and resolve issues quickly. - Bank statement import: Upload bank statements in CSV format if you prefer manual imports over live feeds. --- ## Expenses URL: https://www.cybooks.com.cy/features/expenses ### Headline Track every expense without the manual work ### Description From AI-powered receipt extraction to mobile capture, cybooks makes expense management effortless for Cyprus businesses. ### Highlights - AI data extraction: Upload a receipt or invoice and let AI extract the vendor, amount, date, and VAT automatically. - Email forwarding: Forward bills and invoices to your dedicated cybooks email address for automatic processing. - Mobile receipt capture: Snap a photo of any receipt with the cybooks iOS app and it is recorded instantly. - Categories and projects: Organise expenses by category, project, or cost centre for detailed tracking and reporting. ### How it works 1. Capture the expense: Upload a receipt, forward an email, or snap a photo with the mobile app. 2. AI extracts the details: cybooks reads the document and fills in the vendor, amount, date, and VAT for you. 3. Review and approve: Confirm the details, assign a category, and the expense is recorded in your books. ### Capabilities - Duplicate detection: cybooks flags potential duplicate expenses so you never record the same bill twice. - Document storage: Every receipt and invoice is stored securely and linked to the corresponding transaction. - Automatic categorisation: cybooks learns from your previous entries and suggests categories for new expenses. - Supplier management: Track spending by supplier and see a complete history of transactions with each vendor. - VAT recovery tracking: Identify reclaimable VAT on expenses and ensure nothing is missed during your VAT return. - Multi-currency expenses: Record expenses in any currency. cybooks handles the conversion automatically. --- ## Payroll URL: https://www.cybooks.com.cy/features/payroll ### Headline Payroll that handles the complexity for you ### Description Run payroll for your Cyprus business with automatic tax, social insurance, and GESY calculations. Fully compliant, always up to date. ### Highlights - Cyprus payroll calculations: Automatic salary calculations including income tax, social insurance, and GESY contributions. - Payslip generation: Generate professional payslips for every employee with a single click. - GESY / Social insurance: Automatic calculation of GESY and social insurance contributions for employees and employers. - Full legal compliance: Stay compliant with Cyprus labour law, tax regulations, and social insurance requirements. ### How it works 1. Add your employees: Enter employee details, salary, and contract information once. 2. Run payroll: cybooks calculates gross pay, deductions, contributions, and net pay automatically. 3. Distribute payslips: Generate and share payslips with your team. All records are stored securely. ### Capabilities - Employee management: Maintain employee records, contracts, and employment history in one centralised system. - Income tax calculation: Automatic PAYE calculations based on current Cyprus income tax brackets and allowances. - Employer contributions: Calculate employer-side contributions including social insurance, redundancy fund, and industrial training. - Leave management: Track annual leave, sick leave, and other absences with automatic accrual calculations. - Batch payroll processing: Process payroll for all employees at once. Review, approve, and finalise in minutes. - Year-end reporting: Generate IR7 and other year-end forms required by the Cyprus Tax Department. --- ## Fixed Assets URL: https://www.cybooks.com.cy/features/fixed-assets ### Headline Track and depreciate your business assets automatically ### Description Track business equipment, vehicles, furniture and other fixed assets directly in cybooks. The system handles depreciation calculations and journal entries for you. ### Add assets in 3 ways - From a bill or expense: when you code a line item to a fixed asset account, a draft asset is created automatically - As an opening balance: for assets you already own when moving to cybooks - As a manual entry: for gifts, donations or other acquisitions ### Depreciation runs automatically Once you register an asset, cybooks calculates straight-line depreciation each month. If you register an asset with a past purchase date, it catches up the missing months in one entry. You can revise the useful life or residual value at any time. The system adjusts going forward. ### Dispose when you are ready Sell, scrap or donate. For sales, the gain or loss is calculated and shown before you confirm. All journal entries are created automatically. If you added an asset by mistake, you can delete it. This reverses all entries cleanly. ### Reports - Movement Schedule: shows opening balances, additions, depreciation and disposals by asset type - Reconciliation: compares your asset register against the general ledger so you can spot differences ### How to start 1. Go to Settings and create your asset types (e.g. Computer Equipment, Vehicles, Furniture) 2. Add your first asset from the Fixed Assets page 3. Register it --- ## Practice Management (For Accountants) URL: https://www.cybooks.com.cy/for-accountants ### Headline One platform to manage every client ### Description cybooks Practice Management is a standalone application for accounting firms to manage their entire client portfolio, team workflows, and client communications from one centralised platform, separate from the client-facing accounting app. Navigation: Clients, Projects, Team, Inbox ### Client Management URL: https://www.cybooks.com.cy/for-accountants/client-management Onboard new clients with company details, contact info, and subscription setup. Choose between provisioning a cybooks subscription (wholesale or direct billing) or managing without one. Searchable client directory with live status updates. Each client gets a dedicated profile with dashboard, chat, email log, activity timeline, notes, documents, vault, transactions, and KYC sections. Automatic invite flow with one-click onboarding. ### One-Click Client Login URL: https://www.cybooks.com.cy/for-accountants/one-click-login Accountants can log into any client's cybooks accounting environment with a single click. No password sharing required. Work directly inside the client's books, review transactions, and manage accounting. Available from the client list's action menu, disabled for clients without active subscriptions. ### Client Notes URL: https://www.cybooks.com.cy/for-accountants/client-notes Internal notes visible only to the accounting firm. Rich text editor for formatted notes, pin/unpin important notes, search by title, and edit tracking with last edited date and author. ### Client Vault (Secure Credential Storage) URL: https://www.cybooks.com.cy/for-accountants/client-vault Encrypted storage for sensitive client credentials like government tax portal logins, banking apps, and other services. Store name, username, password, and URL per entry. All data encrypted at rest. ### Project Management URL: https://www.cybooks.com.cy/for-accountants/project-management Projects are the core workflow unit. Link to clients, select service items (auto-fill billing rate), assign team members and reviewers, set dates (start, due, internal due, extensions), define billing rates and accounting periods. Recurring projects (daily, weekly, bi-weekly, monthly, quarterly, semi-annually, annually) clone automatically, preserving assignees, reviewers, and relative due date offsets. Smart status tags: "Waiting for Client" and "Client Info Received". Each project has tasks, team chat, and file storage. ### Team Tasks (Internal Work) URL: https://www.cybooks.com.cy/for-accountants/team-tasks Internal task management organized within projects. Sections for grouping, sub-tasks with parent-child hierarchy, status workflow (Todo, In Progress, In Review, Done). List view and Kanban board with drag-and-drop. Task assignment, due dates with overdue detection, file attachments, comments with @mentions (email notifications), and real-time collaboration. ### Client Tasks (Requests to Clients) URL: https://www.cybooks.com.cy/for-accountants/client-tasks Four task types: Request Document, Send Document, Ask Question, Categorize Transactions. Scheduling (send now or schedule future), auto-reminders, individual due dates, file uploads, dedicated chat per task, progress tracking, and automatic email notifications. Clients access via a dedicated "My Accountant" portal. ### Team Management URL: https://www.cybooks.com.cy/for-accountants/team-management Invite members with role assignment, cancel/revoke invitations, remove members, assign clients per member (project access syncs automatically). Member directory with name, email, role, and billing rate. Pending invitation tracking. ### Roles & Permissions URL: https://www.cybooks.com.cy/for-accountants/roles-permissions Granular access control with custom roles. 35+ individual permissions across: Clients, Projects, Team Tasks, Client Tasks, Client Notes, Client Vault, KYC & AML, Team, Email, Billing, Settings, Roles, Service Items. Visual permission selector grouped by feature area. Built-in system roles are read-only. ### KYC & AML URL: https://www.cybooks.com.cy/for-accountants/kyc-aml AI-powered identity verification. Upload driver's licence, passport, national ID, residence permit, or social security card. AI extracts personal data (name, DOB, gender, nationality) and document data (number, issue/expiry dates, country, type). Confidence score (high/medium/low). Compliance checks, status tracking (approved/in progress/pending), secure storage with time-limited access links. ### Document Management URL: https://www.cybooks.com.cy/for-accountants/document-management Hierarchical file and folder system. Create nested structures, multi-file upload, rename and delete, full-text search. File details include name, contents count, upload date, last updated, uploaded by. Each project gets its own dedicated folder automatically. ### Client Chat URL: https://www.cybooks.com.cy/for-accountants/client-chat Topic-based messaging with dedicated chat rooms per topic. Conversation sidebar for browsing all client conversations. Real-time messaging. ### Unified Inbox URL: https://www.cybooks.com.cy/for-accountants/unified-inbox Centralised inbox combining chat conversations and email threads across all clients. Filter by client, detail panel with assignee, client data, inline notes, and related tasks. Create new conversations or requests directly from inbox. Sections: All, Chat, Client-initiated. ### Email Integration URL: https://www.cybooks.com.cy/for-accountants/email-integration Connect Gmail or Microsoft 365/Outlook via secure authentication. View connected mailboxes with owner and status. Disconnect accounts when needed. Client email logs visible per client. ### Service Items URL: https://www.cybooks.com.cy/for-accountants/service-items Define services with name, hourly rate, and description. Selecting a service on a project auto-fills the billing rate. Create, edit, and delete service items as offerings evolve. --- ## Certified Digital Accountant Program URL: https://www.cybooks.com.cy/certified-digital-accountant-program-for-cyprus ### Headline Become a Certified Digital Accountant in Cyprus ### Description Join the new generation of accounting firms that scale faster, serve more clients and position themselves as digital finance leaders using Cybooks. Cybooks is redefining how accounting firms in Cyprus operate. Through automation, real-time collaboration and structured financial workflows, accountants can reduce manual workload, improve service quality and unlock entirely new growth opportunities. ### The Accounting Market in Cyprus Is Changing More SMEs are looking for real-time financial visibility, faster reporting and modern collaboration with their accountants. Firms that continue to rely on fragmented Excel workflows and manual bookkeeping processes face increasing pressure on margins, staffing and client expectations. The Cybooks Certified Digital Accountant Program helps accounting firms transition towards scalable digital service models without losing control, compliance or professional quality. ### What You Gain as a Certified Digital Accountant - Scale Your Client Portfolio: Serve more SMEs without proportionally increasing staff or working hours. Cybooks enables structured workflows, automated bookkeeping processes and efficient portfolio management. - Position Yourself as a Digital Leader: Differentiate your firm in a competitive market by offering modern accounting services built on real-time data and transparent collaboration. - Access Growth-Oriented SME Leads: Certified accountants may be featured in Cybooks directories and recommended to businesses looking for modern accounting partners. - Reduce Manual Work and Error Risk: Standardised workflows and automation help minimise repetitive tasks and improve data quality across your entire practice. - Attract Young Talent: Digital tools and structured processes make accounting firms more attractive workplaces for the next generation of professionals. - Unlock New Revenue Streams: Migration projects, advisory services and real-time reporting packages create opportunities beyond traditional bookkeeping fees. ### How Certification Works 1. Digital Practice Transformation Training: Learn how to onboard clients digitally, migrate Excel-based processes and build scalable service packages. 2. Cybooks Platform Mastery: Gain deep understanding of portfolio dashboards, VAT workflows, reconciliation tools and compliance monitoring features. 3. Certification and Visibility: After successful completion, your firm receives official certification, a digital badge and potential inclusion in the Cybooks partner network. ### Built Specifically for Cyprus Accounting Firms Cybooks is not a generic accounting platform. It is designed around the practical realities of Cyprus SMEs, VAT processes and accountant-client collaboration patterns. Certified accountants benefit from tools that reflect local compliance requirements while enabling modern service delivery. ### Ongoing Advantages for Certified Firms - Early access to new product capabilities - Invitations to partner briefings and events - Co-marketing opportunities - Potential participation in case studies - Dedicated communication channels - Volume-based discounts on client licences with tiered pricing ### Who Should Apply This program is designed for accounting firms that aim to modernise their workflows, expand their client base and strengthen their market positioning. Whether you are an established firm preparing for digital transition or a younger practice building a scalable model from day one, certification provides a structured path forward. --- ## Scale Beyond Excel URL: https://www.cybooks.com.cy/scale-accounting-firm-beyond-excel-cyprus ### Headline Scaling an Accounting Firm in Cyprus Requires More Than Excel ### Description Digital workflows, real-time collaboration and structured financial processes are becoming essential for firms that want to grow sustainably in a changing SME landscape. Excel has supported accounting firms for decades. However, increasing client expectations, staffing challenges and compliance complexity are pushing many practices to rethink how their operations are structured. ### The Role Excel Has Played in Cyprus Accounting For many accounting firms in Cyprus, Excel has long been a reliable and flexible working environment. It allows professionals to build customised workflows, maintain control over financial data and adapt processes to the specific needs of different clients. This flexibility has made Excel a foundational tool in the development of many successful practices. At the same time, as client portfolios grow and reporting expectations increase, manual data handling and fragmented document flows can gradually create operational pressure. ### Growth Challenges Facing Modern Accounting Firms - Client Capacity Limits: Manual bookkeeping processes often limit how many businesses a firm can realistically serve without expanding staff. - Talent Attraction: Younger professionals increasingly expect digital tools and structured workflows rather than spreadsheet-driven environments. - Real-Time Expectations: SMEs are beginning to seek faster insights into VAT exposure, liquidity and financial performance. ### From Bookkeeping Provider to Financial Partner Accounting firms that introduce structured digital workflows can shift their positioning from transaction processing towards advisory and decision support. Real-time data visibility enables more proactive conversations with clients, while automated reconciliation processes reduce the time spent on repetitive tasks. This transformation does not eliminate the role of accountants. It expands it. ### What Digital Accounting Workflows Enable - Faster onboarding of new SME clients - Standardised portfolio oversight - Reduced error risk through structured processes - Improved collaboration between accountants and business owners - Scalable service models without proportional staffing increases ### Why Cyprus-Specific Solutions Matter Generic international accounting tools do not always reflect the realities of Cyprus tax processes, VAT cycles and local working relationships between firms and SMEs. Platforms designed specifically for Cyprus can align digital workflows with compliance requirements while preserving professional oversight. ### A Gradual Transition Is Possible Moving beyond Excel does not require an abrupt operational shift. Many firms begin by digitising selected client segments, introducing real-time dashboards and gradually restructuring internal processes. Over time, this creates a more resilient and scalable practice model. ### The Future of Accounting in Cyprus Is Hybrid Traditional expertise and modern digital workflows are not opposing forces. Together they form the foundation of accounting firms that can grow sustainably, serve more ambitious SMEs and remain attractive employers in an evolving professional landscape. --- ## Pricing for Businesses URL: https://www.cybooks.com.cy/pricing/for-businesses ### Headline Simple, transparent pricing. No hidden fees. No long-term contracts. Cancel anytime. All prices are exclusive of VAT. Billed in EUR. Annual plans available with 20% discount. ### Standard Plan — €29/month Ideal for freelancers and small businesses starting out. 56 features included. Included features: Create, edit & delete invoices; Send invoices via email; Preview, download & print PDF; Apply credit notes; Payment terms & due dates; Create and edit bills; Line items and attachments; Cost center allocation; Record expenses; Receipt attachments; Payment account tracking; Bank reconciliation match; Basic manual journals; Lock periods; Year-end closing; Opening balances; Period comparison; Profit & Loss; Balance Sheet; Trial Balance; General Ledger; File storage; Basic document management; OCR extraction; Basic customer profiles; Contact info management; Basic vendor profiles; Basic product catalog; Create quotations; Convert to invoices; Create credit notes; Create vendor credits; Basic user config; Basic email notifications; Basic webhooks; Help center; Email support. ### Premium Plan — €67/month (Most Popular) For growing businesses that need advanced automation and priority support. Everything in Standard plus 55 more features. Additional features include: Automated reminders; Recurring invoices; Multi-currency with exchange rate lock; Online payment links; Service periods; Tag/Dimension assignment; Branch assignment; AI document extraction + confidence; Multi-branch support; Tag/Dimensions; Exchange rate management; Vendor credits application; Customer reimbursables; AI receipt scanning; Multi-branch/Dimensions; Automated entries; Complex rules; Recurring journals; Templates; Bulk operations; Approval workflows; Custom report builder; Advanced exports; Scheduled delivery; Consolidated & multi-dimensional; Drill-down capabilities; Report templates; Auto-categorization; Workflows; Version control; Tagging; Full-text search; AI document extraction; AI vendor matching; DocumentAI Assistant; Multiple contacts & addresses; EU VAT validation; Customer portal; Customer analytics; Performance analytics; Document extraction mapping; Advanced inventory; Product variants; Bundles; Price lists; Stock management; Categories; Unified document relationships; Versioning/revisions; Acceptance workflows; Automated workflows; Line item management; Auto-apply to invoices; Auto-apply to bills; Advanced workflows; Approval workflows; Advanced permissions; Activity tracking; COA management; SSO/SAML; Custom role definitions; Email integration & auto-capture; Smart routing; Email-to-invoice; Custom webhooks; External integrations; Signed events & retries; Custom ERP integrations; Chat support; Phone support; Priority support; Dedicated account manager; Custom onboarding. ### Lifetime Plan - €2,999 one-time (Best Value) Pay once, use forever. Full Premium feature set, no recurring fees, ever. Everything in Premium, forever. ### All Inclusive Accounting - €450/month annually, €540/month monthly (Full Service) Full-service accounting combining premium software and a dedicated licensed accountant into one subscription. From first receipt to yearly audit, every financial obligation is covered. 100% tax deductible. The service is designed for Cyprus-registered companies that demand financial transparency and reliable compliance. Includes: Bookkeeping and Communication: - Monthly bookkeeping: all transactions recorded, categorised and reconciled - Dedicated licensed accountant you can contact any time VAT and Sales Tax Reporting: - Quarterly VAT return prepared and filed with the Tax Department - Cross-border sales reporting: monthly declaration of sales to VAT-registered businesses in other EU countries - Online sales to EU consumers: OSS returns filed so you can sell across the EU without registering for VAT in every country - Goods movement reporting: statistical declarations for physical goods shipped to or from other EU countries Payroll: - Monthly payroll for up to 2 employees (salaries, deductions and net pay) - Compliant electronic payslips issued each month - Social insurance contributions calculated and submitted - Income tax withheld from employee pay and reported - New hires registered on the government employment portal - Employer's annual return filed with the Tax Department Tax Returns: - Monthly tax withholding reports (income tax withheld from salaries, dividends, rents or other payments) - Yearly company tax return (taxable profit calculated and annual return filed) - Estimated tax payments (twice-yearly advance payments calculated and submitted) - Tax on dividends (defence contribution withheld and reported) - Tax on rental income (defence contribution calculated and filed) - Tax on interest income (defence contribution calculated and filed) - Personal tax return for directors/shareholders Financial Reports: - Quarterly financial reports (P&L, balance sheet, cash flow) - Monthly financial reports (if required) - Half-yearly management accounts (detailed performance review and trend analysis) - Year-end IFRS-compliant financial statements Audit and Company Filings: - Statutory audit (independent audit of financial statements, as required by law) - Annual company return filed with Registrar of Companies - Beneficial ownership register maintained as required by EU law Software: - Full access to cybooks Professional (real-time dashboards, bank reconciliation, multi-currency) Business Reviews: - Quarterly performance reviews and half-yearly in-depth management reviews Advisory Services (available on request): - IP Box tax relief assessment and application - Tax planning (written memos and consultations) - Financial planning and analysis (quarterly deep-dive) Target audience: Growing SMEs, time-conscious founders, and compliance-first companies registered in Cyprus. ### Feature Comparison (Standard vs Premium/Lifetime) Invoices: - Create, edit & delete invoices: Standard ✓ | Premium ✓ - Send invoices via email: Standard ✓ | Premium ✓ - Preview, download & print PDF: Standard ✓ | Premium ✓ - Apply credit notes: Standard ✓ | Premium ✓ - Payment terms & due dates: Standard ✓ | Premium ✓ - Automated reminders: Standard ✗ | Premium ✓ - Recurring invoices: Standard ✗ | Premium ✓ - Multi-currency with exchange rate lock: Standard ✗ | Premium ✓ - Online payment links: Standard ✗ | Premium ✓ Bookkeeping & Reports: - Basic manual journals: Standard ✓ | Premium ✓ - Lock periods & year-end closing: Standard ✓ | Premium ✓ - Profit & Loss, Balance Sheet, Trial Balance: Standard ✓ | Premium ✓ - Automated entries & complex rules: Standard ✗ | Premium ✓ - Custom report builder: Standard ✗ | Premium ✓ - Consolidated & multi-dimensional reports: Standard ✗ | Premium ✓ AI & Documents: - File storage & basic document management: Standard ✓ | Premium ✓ - OCR extraction: Standard ✓ | Premium ✓ - AI document extraction + confidence: Standard ✗ | Premium ✓ - AI receipt scanning: Standard ✗ | Premium ✓ - AI vendor matching: Standard ✗ | Premium ✓ - DocumentAI Assistant: Standard ✗ | Premium ✓ Support: - Help center: Standard ✓ | Premium ✓ - Email support: Standard ✓ | Premium ✓ - Chat support: Standard ✗ | Premium ✓ - Phone support: Standard ✗ | Premium ✓ - Priority support: Standard ✗ | Premium ✓ - Dedicated account manager: Standard ✗ | Premium ✓ - Custom onboarding: Standard ✗ | Premium ✓ ### Pricing FAQ - How long does setup take? Most businesses are up and running within a day. Our onboarding wizard guides you through the initial configuration step by step. - Can I migrate existing data? Yes. cybooks supports data import from common formats (CSV, Excel) and we offer assisted migration for larger datasets. - What support is available? Standard plan users have access to the help center and email support. Premium users additionally get chat, phone, and priority support with a dedicated account manager. - Is cybooks compliant with Cyprus tax laws? Yes. cybooks is built specifically for Cyprus, covering VAT returns, VIES, and all local compliance requirements out of the box. - Do you offer discounts for annual billing? Yes. Save 20% when you pay annually on Standard and Premium plans. - What does the Lifetime plan include? The Lifetime plan includes the full Premium feature set, everything in Premium, forever, for a one-time payment of €2,999. No recurring fees. --- ## Pricing for Accountants URL: https://www.cybooks.com.cy/pricing/for-accountants One plan: Practice Management. Everything included. All practice management features (Client Management, One-Click Client Login, Client Notes, Client Vault, Projects, Team Tasks, Client Tasks, Team Management, Roles & Permissions, KYC & AML, Documents, Client Chat, Unified Inbox, Email Integration, Service Items). Limited time offer: Register now and get 12 months for free. No credit card needed. Certified Digital Accountants benefit from volume-based discounts on client licences with tiered pricing. --- ## About Us URL: https://www.cybooks.com.cy/about ### Headline We saw a gap in Cyprus accounting software, and decided to fill it properly ### Description cybooks was founded in Paphos by people who saw that accounting software built for London or New York simply didn't work for Limassol or Larnaca. ### Our Story When Christopher relocated from Germany to Cyprus with his family nearly five years ago, he embraced island life wholeheartedly: the sunshine, the food, the pace. What he didn't quite anticipate was discovering that accounting here operates on its own delightfully unique set of rules. It's entirely normal for small and mid-sized businesses to collect their receipts in carrier bags and drop them off at the accountant's office, where everything gets entered by hand. Charmingly analogue. Slightly terrifying if you've ever wanted to know where your finances actually stand at any given moment. Running his own digital agency, shapeandshift.dev, Christopher went looking for software that could bridge the gap. What he found was a choice between legacy on-premise tools that looked like they were designed for Windows 95 (and probably were), or international platforms that handled Cyprus as something of an afterthought: wrong VAT rates, no VIES support, and customer service that had never heard of TFA. So, with a development team already at hand and a very clear problem to solve, cybooks was born. Built from the ground up for Cyprus, covering its filing requirements, local workflows and the nuances that international platforms simply overlook. Today, both local businesses and expats who know exactly what good, localised accounting software looks like use cybooks to stay on top of their finances, without the carrier bags. ### Our Values - Built for Cyprus: Every feature, from VAT rates to VIES filings, is designed around the Cypriot regulatory landscape. No generic workarounds, just software that works out of the box. - Simplicity first: Accounting is complex. Our software doesn't have to be. We obsess over making powerful features feel effortless for business owners and accountants alike. - Trustworthy & secure: Your financial data is among the most sensitive information you have. We treat it that way: EU-hosted, GDPR-compliant, and audited end to end. - Customer obsessed: We measure success by your success. Fast support, transparent pricing, and a product that genuinely saves you time every day. - Local expertise: Our team understands Cyprus business culture, the local tax calendar, and the nuances that generic platforms miss entirely. - Built for collaboration: Whether you're a sole trader, an SME, or an accounting firm managing multiple clients, cybooks scales with your team. ### The Team - Sarah — Co-Founder. Administration, Accounting, Legal. LinkedIn: https://www.linkedin.com/in/sarah-madeline-kroll-b92163310/ - Christopher — Founder / CTO. Technical Lead, Conception, PM. LinkedIn: https://www.linkedin.com/in/christopher-dosin/ - Andreas — Head of Growth. Marketing. LinkedIn: https://www.linkedin.com/in/commerceguru/ --- ## FAQ URL: https://www.cybooks.com.cy/faq ### Getting Started Q: What is cybooks and who is it for? A: cybooks is cloud-based accounting software built specifically for businesses registered and operating in Cyprus. It handles invoicing, VAT, VIES, bank reconciliation, payroll, and more — with Cyprus-specific compliance built in from day one. It's used by sole traders, SMEs, expat entrepreneurs, and accounting firms managing multiple Cyprus clients. Q: Why can't I just use QuickBooks, Xero, or Sage? A: You can, but they won't do the job properly. QuickBooks is built around US tax logic, Xero for the Australian and New Zealand GST system, and Sage for the UK and Irish market. All three treat Cyprus as a workaround: wrong VAT rates, no native VIES support, and filing workflows that don't map to how the Cyprus Tax Department actually operates. cybooks is built for Cyprus — not adapted from somewhere else. Q: Do I need accounting knowledge to use cybooks? A: No. cybooks is designed for business owners, not just accountants. The interface guides you through everything, and our support team is available to help. You can also invite your accountant to manage the more technical parts while you handle day-to-day operations. Q: How long does it take to set up? A: Most businesses are fully operational within one business day. We provide guided onboarding, data import tools, and a setup checklist to get you from zero to ready as quickly as possible. Q: Can I migrate from my existing software? A: Yes. We support data import from Xero, QuickBooks, Sage, Excel, and CSV files. Our onboarding team will help you migrate your chart of accounts, customers, suppliers, and opening balances so nothing gets lost in the move. Q: Can my accountant access cybooks? A: Yes. You can invite your accountant as a user with their own login. You control what they can see and do. Many of our customers use cybooks as a shared workspace between the business owner and their accountant — eliminating the carrier-bag handoff entirely. ### Compliance & VAT Q: Is cybooks compliant with Cyprus tax law? A: Yes. cybooks is built to meet all Cyprus Tax Department requirements, including VAT (correct rates: 19%, 9%, 5%, and 0%), VIES quarterly returns, and Intrastat declarations. The software is updated whenever Cyprus tax rules change. Q: How does VAT return preparation work? A: cybooks calculates your VAT position automatically based on your recorded transactions. It prepares a complete, review-ready return aligned with Cyprus Tax Department requirements. You review the figures and complete the final submission yourself via TFA — your credentials stay yours. Q: What are the standard VAT rates in Cyprus? A: The standard rate is 19%. Reduced rates of 9% apply to hotel accommodation, restaurant services, and certain food items. A 5% rate applies to books, newspapers, medicines, and some social services. A 0% rate applies to exports and certain intra-EU supplies. cybooks has all of these pre-configured. Q: Who needs to register for VAT in Cyprus? A: Any business with taxable turnover exceeding €15,600 in the preceding 12 months, or that expects to exceed this threshold in the next 30 days, must register for VAT in Cyprus. Voluntary registration is also possible below this threshold. Q: How does VIES reporting work? A: VIES (VAT Information Exchange System) is required for businesses making intra-EU B2B supplies of goods or services. cybooks automatically identifies these transactions, categorises them correctly, and generates the quarterly VIES summary return ready for submission. Q: Does cybooks support the OSS scheme? A: Yes. The One-Stop Shop (OSS) scheme applies to businesses selling digital services or distance-selling goods to consumers in other EU member states. cybooks tracks these transactions and helps you prepare your OSS declaration. Q: What about the VAT Margin Scheme? A: The VAT Margin Scheme applies to second-hand goods, art, antiques, and collectibles — where VAT is charged on the profit margin rather than the full sale price. cybooks supports margin scheme accounting so you only pay VAT on what you actually earn. Q: Does cybooks handle payroll, GESY, and Social Insurance? A: Yes. The Professional plan and above includes Cyprus payroll with automatic calculations for GESY (General Health System contributions), Social Insurance, and income tax (PAYE). Payslips are generated automatically. Q: What is TFA and how does it relate to cybooks? A: TFA (Tax For All) is the Cyprus Tax Department's online portal for submitting tax returns. cybooks prepares your VAT returns and other filings so they're ready to enter into TFA. The actual submission is completed by you or your accountant using your own TFA credentials — cybooks never requires or stores your TFA login. ### Features Q: Does cybooks use AI anywhere? A: Yes. cybooks uses AI-powered receipt and document extraction, which automatically reads invoices and receipts — including those forwarded by email — and pulls out the key data (supplier, date, amount, VAT) for you to confirm. This eliminates the bulk of manual data entry. Q: Can I forward receipts and invoices by email? A: Yes. cybooks gives you a dedicated inbox address. Simply forward or CC any invoice, receipt, or document to that address and the AI extraction engine will process it automatically and add it to your records. Q: How does bank reconciliation work? A: cybooks connects to your bank feed and automatically matches incoming and outgoing transactions to invoices and expenses. Unmatched items are flagged for your review. Most businesses can reconcile a full month in minutes. Q: Can I see my cashflow in real time? A: Yes. The dashboard shows your current cash position, upcoming receivables, outstanding payables, and a forward-looking cashflow overview — all updated as transactions are recorded. Q: Does cybooks support multi-currency? A: Yes. You can issue invoices and record expenses in foreign currencies. cybooks applies the correct exchange rates and converts everything to EUR for your VAT returns and financial reports. Q: Can I issue invoices directly from cybooks? A: Yes. You can create, send, and track invoices directly from cybooks. Credit notes, recurring invoices, and payment reminders are all supported. ### Security & Data Q: Where is my data stored? A: All data is stored in ISO 27001-certified data centres within the European Union. Your data never leaves the EU, and we comply fully with GDPR. Q: Who can access my data? A: Only you and the team members you explicitly invite. cybooks staff cannot access your financial data without your explicit, audited consent. All access is logged. Q: How is my data protected? A: All data is encrypted in transit (TLS 1.3) and at rest (AES-256). We conduct regular penetration tests, maintain strict access controls internally, and monitor for anomalies around the clock. Q: Is cybooks GDPR-compliant? A: Yes. As an EU-based company operating EU-hosted infrastructure, GDPR compliance is foundational to how we built cybooks — not an afterthought. You can request a data export or deletion at any time. Q: What happens to my data if I cancel? A: Your data is retained for 90 days after cancellation, during which you can export everything in CSV or PDF format. After 90 days, data is permanently and irreversibly deleted from our servers. ### Pricing & Billing Q: Is there a free trial? A: Yes. All plans come with a 14-day free trial. No credit card required, and you get full access to all features during the trial period. Q: What is the Lifetime plan? A: The Lifetime plan is a one-time payment that gives you permanent access to cybooks with no recurring subscription. It's designed for businesses that prefer to own rather than rent, and includes all future updates for the features covered by the plan. Q: Can I change plans? A: Yes, you can upgrade or downgrade at any time. Upgrades take effect immediately, downgrades take effect at the start of the next billing cycle. Q: Do you offer annual billing? A: Yes. Paying annually saves you 20% compared to monthly billing on Starter, Professional, and Business plans. Q: What currencies and payment methods do you accept? A: We invoice in Euros (EUR). Payment is accepted via credit or debit card (Visa, Mastercard) or bank transfer for annual plans. ### Support Q: What support is available? A: All plans include email support. Professional plans get priority response times. We aim to respond to all queries within one business hour during working hours. Q: Do you offer onboarding help? A: Yes. Every new customer gets access to guided onboarding. We'll walk you through initial setup, help you import existing data, and make sure you're confident before you go live. Q: What languages does your support team speak? A: Our support team operates in English, Greek, and German. We're committed to helping Cyprus businesses — and the international community that calls Cyprus home — in the language they prefer. Q: Where can I find guides and tutorials? A: Our Accounting Insights section covers Cyprus-specific topics including VAT returns, VIES filings, the OSS scheme, the Margin Scheme, and more. We also maintain a knowledge base with step-by-step guides for common tasks. --- ## Security URL: https://www.cybooks.com.cy/security ### Headline Your financial data is safe with us ### Description cybooks is built on enterprise-grade security infrastructure. We take protecting your financial data as seriously as you do. ### Certifications - GDPR Compliant - EU Data Residency - eIDAS Compliant ### Security Pillars 256-bit AES Encryption: All your data is encrypted at rest and in transit using the same standard trusted by banks and governments. EU Data Residency: Your data never leaves the European Union. All servers are hosted in ISO 27001-certified EU data centres. Daily Encrypted Backups: Automated daily backups retained for 90 days, with point-in-time recovery available on Business plans. Full Audit Trail: Every action in cybooks is logged: who did what and when. Immutable logs for complete accountability. Multi-Factor Authentication: Protect every account with TOTP or hardware security keys. Enforce MFA across your entire organisation. Role-Based Access Control: Define exactly what each team member and accountant can see and do, with granular permission settings. ### GDPR & Data Privacy cybooks processes data in accordance with GDPR and Cyprus data protection regulations. You remain the data controller at all times. We are merely the processor. - Data Processing Agreement (DPA) available for all accounts - Right to access, rectify, and erase your data at any time - No data sold or shared with third parties for advertising - Privacy by design in every feature we build Infrastructure stats: - 99.9% Uptime SLA - 24/7 Security monitoring - <2 min Incident response time --- ## Events URL: https://www.cybooks.com.cy/events ### Headline Find us at Events ### Description We love connecting with founders, operators, and accountants face to face. Come find us at the booth. We are happy to show you a live demo of cybooks. ### Upcoming: Doers Summit 2026 - Date: 21 to 22 May 2026 - Location: Kolla Factory, Limassol, Cyprus - Audience: 50% Founders, 30% Operators, 20% Investors - Description: The Doers Summit is one of the most energetic business and tech conferences in the region, bringing together founders, operators, and investors from across Cyprus, Greece, and the wider Mediterranean. We will be exhibiting as a sponsor again, just like in previous years. Stop by our booth for a live demo, a conversation, or just to say hi. - Website: https://doerssummit.com ### Past: CYVA VAT Forum 2025 - Location: Nicosia, Cyprus - Description: We exhibited at the CYVA VAT Forum, connecting with tax professionals, accountants, and business owners who deal with VAT compliance every day. A great opportunity to show how cybooks makes VAT filing and reporting straightforward for Cyprus companies. ### Past: Doers Summit 2025 - Location: Limassol, Cyprus - Description: We exhibited at the Doers Summit for another great year, connecting with hundreds of founders and business owners, showing how cybooks simplifies accounting and VAT compliance for Cyprus companies. ### Past: Doers Summit 2024 - Location: Limassol, Cyprus - Description: Our first Doers Summit as an exhibitor, a milestone moment for the cybooks team. We had incredible conversations with the Cyprus startup community and gathered valuable feedback that shaped the product. ## DOERS Summit 2026 Landing Page URL: https://www.cybooks.com.cy/doers-summit-2026 Meet cybooks at DOERS Summit in Limassol. Book a 1:1 session and discover how to run your Cyprus business finances without Excel, delays, or guesswork. The session covers your current finance setup, reporting reality, and decision flow. Includes a 5-minute finance reality check, booking for 15-minute or 30-minute sessions, and a book giveaway by co-founder Christopher. --- ## Books ### Running a Cyprus LTD Company URL: https://www.cybooks.com.cy/books Author: Christopher Dosin (founder of cybooks) Format: Paperback Buy: https://amzn.to/4wbxuyP The practical guide for small business owners running a Limited Company in Cyprus. You registered your Cyprus LTD, now what? This book walks you through everything that comes next: VAT registration, invoicing, corporate tax, payroll, and year-end compliance. No legal jargon, no theory, just clear answers to the questions every founder actually asks. What you will learn: - How to set up your company, open a bank account, and register for VAT - How VAT works, what you can claim back, and when to file - How to invoice correctly within Cyprus, across the EU, and internationally - How corporate tax, provisional tax, and the Non-Dom regime work - How to handle payroll, social insurance, and employer obligations - What your auditor needs and how to stay compliant year-round Written in plain English for business owners, not accountants. Each chapter answers real questions with direct answers, practical examples, and checklists you can act on immediately. --- ## Contact URL: https://www.cybooks.com.cy/contact ### Headline Get in touch ### Description Book a personalised demo, start your trial, or just ask us a question. We respond within one business hour. ### Contact Information - Email: hello@cybooks.com.cy - Phone: +357 97752423 - Address: Grigori Afxentiou 3, ABC BUSINESS CENTER, 8010, Paphos, Cyprus - Support hours: Mon to Fri: 8am to 6pm EET, Sat: 9am to 1pm EET ### Company Info - Registered name: SMK Shape & Shift LTD - Reg. number: HE406574 - VAT number: CY10406574Y - Jurisdiction: Republic of Cyprus --- ## Accounting Insights (Blog) URL: https://www.cybooks.com.cy/accounting-insights Expert advice on accounting, compliance, and growth — tailored for Cyprus's small business owners and accounting professionals. --- ### Article: All Inclusive Accounting: Why Cyprus Businesses Are Switching to Full-Service URL: https://www.cybooks.com.cy/accounting-insights/all-inclusive-accounting-cyprus-full-service Published: Mar 30, 2026 Author: Christopher Dosin Professional software and a dedicated licensed accountant in one subscription. From first receipt to yearly audit, every financial obligation is covered. For most Cyprus businesses, managing finances involves a patchwork of tools, providers and manual coordination. All Inclusive Accounting combines professional accounting software and a dedicated licensed accountant into a single subscription. The software handles automation: document capture, bank reconciliation, real-time dashboards and financial reporting. The accountant handles everything else: monthly bookkeeping, VAT returns, cross-border sales reporting (VIES), OSS returns, Intrastat declarations, payroll for up to 2 employees, payslips, social insurance, income tax on salaries, employee registration, employer's annual return, monthly tax withholding reports, yearly company tax return, estimated tax payments, tax on dividends/rental/interest income, personal tax return for directors, quarterly and monthly financial reports, half-yearly management accounts, year-end IFRS financial statements, statutory audit, annual company return (HE32), and beneficial ownership register. Full access to cybooks Professional included. Quarterly performance reviews and half-yearly management reviews. Advisory services available on request: IP Box tax relief, tax planning, financial planning and analysis. Pricing: EUR 450 per month billed annually or EUR 540 monthly. 100% tax deductible. Including mandatory annual audit. --- ### Article: How AI-Powered Bank Reconciliation Saves 10+ Hours per Month URL: https://www.cybooks.com.cy/accounting-insights/ai-bank-reconciliation-saves-time Published: Feb 24, 2026 Author: Christopher Dosin Manual bank reconciliation quietly consumes hours every month. AI-powered matching can automate 70 to 80% of transactions, freeing time for analysis and strategy. There is a particular kind of work that rarely appears in strategy meetings and never in keynote presentations. It is neither visionary nor creative. It does not shape products or define markets. And yet it quietly consumes hours of attention every single month. Bank reconciliation belongs to this category. In many small and medium-sized businesses, reconciliation is still a manual ritual. Someone opens the bank statement, opens the accounting system, and begins comparing entries line by line. Incoming payments are matched to invoices, supplier transfers are verified against bills, minor discrepancies are investigated, references are decoded, and partial payments are painstakingly reconstructed. The Hidden Cost of Manual Reconciliation: When business owners estimate how long reconciliation takes, they often understate the figure. Ten hours per month is not unusual. In growing companies, the number is frequently higher. The hidden cost of manual reconciliation is not only measured in time but also in interruption. Every unresolved transaction lingers in the background of the mind, and every open mismatch delays the moment when the financial picture feels complete. Why Matching Is Harder Than It Looks: In theory, reconciliation appears straightforward, as a payment enters the bank account and is matched to a corresponding invoice. In practice, however, the situation is rarely so clean. Clients combine several invoices into one transfer, payment references are incomplete, bank fees slightly alter the final amount, supplier names appear in abbreviated forms, and currency fluctuations introduce marginal differences that require interpretation rather than mechanical matching. How AI Changes the Equation: Modern AI-powered reconciliation systems approach the same problem differently. Instead of looking for exact equality between two entries, they evaluate probability. They analyse historical behaviour, recurring relationships between customers and suppliers, typical timing patterns, and acceptable variances in amounts. Over time, the system learns how a particular business behaves financially. When a new transaction appears, it is not treated as an isolated event but as part of a larger pattern. The system calculates how likely it is that this payment belongs to a specific invoice. If confidence is high, the match can be completed automatically. If confidence is moderate, a suggestion is presented for human review. If the system detects anomalies, the transaction is flagged for closer inspection. What changes in this model is not control, but distribution of effort. The Numbers That Matter: In practical terms, this often means that seventy to eighty percent of monthly transactions can be reconciled without manual intervention. For a company processing several hundred bank entries per month, the difference is significant. Instead of reviewing five hundred transactions, the finance team may only need to examine one hundred. Over the course of a year, ten hours per month become more than one hundred hours redirected toward analysis rather than verification. Consistency Over Speed: Manual processes are vulnerable to fatigue, and errors rarely arise from incompetence but rather from repetition. When reconciliation is assisted by intelligent pattern recognition, consistency increases because the system does not become distracted or rush to finish before the end of the day. For auditors and external accountants, consistency matters as much as speed. Clean, continuously reconciled books reduce friction during VAT submissions and annual reviews. Strategic Implications: When reconciliation is delayed, reporting is delayed, and when reporting is delayed, decisions are postponed. AI-powered reconciliation does not eliminate the need for oversight. It does not replace financial judgment. What it removes is the mechanical layer of comparison that previously consumed attention. In doing so, it allows financial work to return to its original purpose, understanding the health of the business and shaping its direction. Why This Matters for Cyprus-Based SMEs: For many Cyprus-based SMEs, where accounting processes are still heavily manual or spreadsheet-driven, this change can be transformative. It reduces stress before VAT deadlines. It improves collaboration with external accountants. It creates clarity in situations that would otherwise remain ambiguous until the end of the quarter. Composure, Not Just Acceleration: Technology often promises acceleration. In the context of reconciliation, its more meaningful contribution is composure. By automating the repetitive comparison of transactions, AI allows financial oversight to become calmer, more deliberate and more strategic. The question is therefore not whether reconciliation should exist, because it must, but how much human attention it truly deserves. When routine verification is handled intelligently, attention can be reserved for what actually moves the business forward. --- ### Article: The EU SME VAT Scheme: What Every Small Business Selling Across Europe Needs to Know URL: https://www.cybooks.com.cy/accounting-insights/eu-sme-vat-scheme-2025-guide Published: Feb 19, 2026 Author: Christopher Dosin Since 1 January 2025, the EU's overhauled SME VAT scheme lets eligible small businesses trade across borders without charging VAT, with just one registration and one quarterly report. Here's everything you need to know. The Big Picture: For years, small businesses trading across EU borders faced a genuine headache: every Member State had its own VAT registration threshold, its own filing deadlines, its own compliance quirks. Selling into France meant French VAT. Selling into Germany meant German VAT. The paperwork mountain grew quickly, and for a small team wearing multiple hats, it was enough to put you off cross-border sales altogether. From 1 January 2025, that picture has changed meaningfully. The European Commission's updated SME VAT scheme, formally known as the Special VAT Scheme for Small Enterprises, strips away much of that complexity. If your annual EU-wide turnover sits below €100,000, you may well be able to trade across borders VAT-free, with a single registration and a single quarterly report covering all Member States where you operate. Who Qualifies? 1. The Union-wide threshold: Your total annual turnover across all 27 EU Member States must not exceed €100,000, both in the current calendar year and the one before. 2. The national threshold: Each Member State sets its own domestic VAT exemption threshold, capped at a maximum of €85,000 (or the national currency equivalent). To benefit from VAT exemption in a given country, your turnover in that country must stay beneath its local threshold. Important caveats: - The scheme is optional: you choose whether to apply it - It is only available to businesses established within the EU. UK-registered businesses (including those in Northern Ireland) are explicitly excluded - Start-ups with zero turnover can still join: you'd simply report €0 in your quarterly filing - There can only ever be one Member State of establishment (MSEST) per business, wherever your central administration is based The Cross-Border Breakthrough: The headline innovation in the 2025 rules is the cross-border SME scheme. Previously, the domestic VAT exemption only applied to your home country's transactions. Now, eligible small enterprises can apply VAT exemption in multiple Member States simultaneously, without registering for VAT in each one individually. - Single registration: You register for the SME scheme once, with your Member State of establishment. They issue you an EX number, a single identifier recognised across all participating Member States. - Single quarterly report: Instead of filing VAT returns in every country where you sell, you submit one consolidated quarterly report to your MSEST, detailing your turnover in each Member State. - Simplified invoicing: Reduced invoicing requirements apply when you're operating under the scheme. - No VAT to charge: Qualifying supplies are made without VAT, which is particularly attractive for businesses selling directly to end consumers (B2C). The Trade-Off: When you opt into VAT exemption under the SME scheme, you lose the right to deduct input VAT on goods and services you purchase to make those exempt supplies. This makes the scheme most attractive for businesses that have relatively low input costs (e.g. service businesses, freelancers, digital product sellers), sell primarily to consumers (B2C), or are in the early stages of growth with modest EU-wide turnover. Eligible Goods and Services: Almost everything. All supplies of goods and services are eligible for VAT exemption under the SME scheme, with primary exceptions: occasional property transactions, exempt cross-border supplies of new means of transport between Member States, and any additional exclusions that individual Member States choose to implement domestically. Sectoral Thresholds: Some Member States apply sectoral thresholds, meaning different national limits depending on the type of business activity. Domestic vs. Cross-Border: If you only want to apply VAT exemption in your home country, you follow domestic rules. If you want to apply VAT exemption in other Member States, you follow the cross-border rules, requiring prior notification, EX number, and quarterly reports. What This Means for Cyprus-Based Businesses: Cyprus is a Member State of the EU, which means Cypriot businesses established here are fully eligible to participate in both the domestic and cross-border SME schemes, provided Cyprus has implemented the scheme in its national legislation and you meet the turnover thresholds. The key question: does the input VAT trade-off work in your favour? Quick-Reference Checklist: - Total EU-wide turnover below €100,000 (current and prior year) - Business established in an EU Member State (non-EU businesses excluded) - Supplies are eligible (not excluded property transactions or new vehicle cross-border sales) - Target Member State has implemented the SME scheme - Considered the input VAT trade-off for your specific business model - Registered with your Member State of establishment for an EX number (for cross-border) - Ready to file a single quarterly turnover report instead of multiple country returns Source: EU SME VAT Portal — Official rules and registration for the EU SME VAT exemption scheme (https://sme-vat-rules.ec.europa.eu/index_en) --- ### Article: How to Submit a VAT Return in Cyprus in 2025 URL: https://www.cybooks.com.cy/accounting-insights/how-to-submit-vat-return-cyprus-2025 Published: Dec 20, 2024 Author: Christopher Dosin Complete step-by-step guide to filing your VAT return in Cyprus using the Tax For All portal. Learn deadlines, process, and tips for 2025. Overview: Filing your VAT return in Cyprus is a mandatory requirement for all VAT-registered businesses. In 2025, the process is conducted entirely through the Tax For All (TFA) online portal managed by the Cyprus Tax Department. Who Needs to File: Any business or individual registered for VAT in Cyprus must submit a VAT return — typically on a quarterly basis. Returns are due 40 days after the end of each VAT period. VAT Period Deadlines: - Jan to Mar → 10 May - Apr to Jun → 10 Aug - Jul to Sep → 10 Nov - Oct to Dec → 10 Feb Step-by-Step Filing via TFA: 1. Log in to the TFA Portal at taxisnet.mof.gov.cy 2. Navigate to VAT Returns: select "VAT" then "Submit VAT Return" 3. Select the VAT Period 4. Enter VAT Figures: Box 1 (output tax), Box 2 (EU acquisitions), Box 4 (input tax), Box 5 (net VAT), Box 6 (net sales), Box 7 (net purchases), Box 8 (EU sales), Box 9 (EU acquisitions) 5. Review and Submit 6. Make Payment if VAT is due Common Mistakes: Wrong VAT period, missing EU transactions, incorrect input tax, late filing. Tips: Use cybooks to automatically prepare VAT figures, keep invoices organised, set reminders 2 weeks before deadlines, check VIES return obligations for EU trade. --- ### Article: VAT Return Guide for Cyprus Businesses URL: https://www.cybooks.com.cy/accounting-insights/vat-return-guide Published: Jan 15, 2024 Author: Christopher Dosin Complete guide to VAT returns in Cyprus: deadlines, requirements, and best practices for compliance. VAT Registration: Mandatory when annual taxable turnover exceeds €15,600. Voluntary registration possible below this threshold. VAT Rates: 19% standard, 9% reduced (hotels, restaurants), 5% further reduced (books, medicines), 0% zero-rated (exports). Filing: Most businesses file quarterly. Deadline is 40 days after each VAT quarter end. Monthly filing for turnover exceeding €1.5 million. What to include: Output VAT, Input VAT, EU acquisitions, EU dispatches, Net position. Record-Keeping: Retain VAT records for minimum 6 years. Penalties: €51 fixed penalty for late filing, 10% surcharge on VAT due for late payment, plus interest. Best Practices: Reconcile monthly, use accounting software, keep digital copies, verify supplier VAT numbers via VIES, consult accountants for complex transactions. --- ### Article: Understanding the One Stop Shop (OSS) Scheme URL: https://www.cybooks.com.cy/accounting-insights/oss-scheme Published: Jan 15, 2025 Author: Christopher Dosin The OSS is an EU VAT scheme that allows businesses to report and pay VAT on cross-border B2C sales across all EU member states through a single registration in one country. Available to EU-based businesses selling goods or digital services to consumers in other EU countries, and non-EU businesses selling electronically supplied services to EU consumers. Registration: Cyprus-based businesses register through TFA portal. €10,000 Threshold: Below this amount in cross-border B2C sales, you can apply home country VAT rate. Above it, OSS becomes necessary. Returns: Filed quarterly, reporting sales by destination country, applicable VAT rate, and VAT amount due per country. Single payment to home tax authority. Benefits: Single registration, unified reporting, simplified payment, reduced compliance burden. OSS vs. IOSS: IOSS is for goods imported from outside the EU with value under €150. --- ### Article: Complete Guide to VAT in Cyprus 2024 URL: https://www.cybooks.com.cy/accounting-insights/cyprus-vat-guide Published: Dec 15, 2024 Author: Cybooks Editorial Team Comprehensive overview of VAT obligations, rates, and compliance requirements for businesses operating in Cyprus. Governed by the VAT Law of 2000 (as amended). Registration: Mandatory above €15,600 annual taxable turnover. Voluntary registration available. VAT Rates: 19% standard, 9% reduced (hotel accommodation, restaurants, passenger transport), 5% further reduced (books, newspapers, pharmaceutical products, social housing), 0% zero-rated (exports, international passenger transport, certain financial services). Input Tax Recovery: Available on purchases for taxable supplies. Not recoverable on business entertainment, private vehicle use, or exempt supplies. Invoicing Requirements: Sequential number, date, supplier details with VAT number, customer details, description, amounts with VAT breakdown, customer VAT number for B2B. Special Schemes: Cash Accounting (turnover under €2 million), Flat Rate, Margin Scheme. Compliance Calendar: Q1 due May 10, Q2 due Aug 10, Q3 due Nov 10, Q4 due Feb 10. --- ### Article: How to Submit a VIES Return in Cyprus URL: https://www.cybooks.com.cy/accounting-insights/vies-return Published: Dec 1, 2024 Author: Christopher Dosin VIES (VAT Information Exchange System) enables tax authorities to monitor cross-border VAT transactions between EU businesses. Who Must Submit: Businesses supplying goods to VAT-registered customers in other EU countries, providing certain services where reverse charge applies, or acting as intermediaries in triangular transactions. Filing: Monthly, due last working day of following month (unlike quarterly VAT returns). Required Information: Customer's VAT number with country prefix, total net value of supplies, transaction type code. Step-by-Step via TFA: 1. Log into Tax For All portal 2. Navigate to VAT → VIES Returns → Submit New Return 3. Select the period 4. Enter transaction data (or upload CSV) 5. Verify VAT numbers 6. Submit and download confirmation Common Issues: Invalid VAT numbers, wrong transaction type, currency must be EUR, nil returns not required. Penalties: Failure to submit may result in penalties and information sharing with other EU tax authorities. --- ### Article: 2025: Confirmation of Ultimate Beneficial Owner Information URL: https://www.cybooks.com.cy/accounting-insights/ubo-confirmation Published: Dec 1, 2024 Author: Christopher Dosin Cyprus companies must maintain and annually confirm information about their Ultimate Beneficial Owners (UBOs). Stems from EU Anti-Money Laundering Directives (AMLD). A UBO is any natural person who directly or indirectly owns more than 25% of shares or voting rights, controls the company, or exercises control via senior management. Annual Confirmation Window: October 1 to December 31 each year through the Registrar of Companies. Must be actively confirmed annually even if nothing changed. Who Must Comply: Cyprus limited liability companies, partnerships, trusts administered in Cyprus, other legal arrangements. Required Information: Full name, date of birth, nationality, country of residence, nature and extent of beneficial interest, national ID or passport number. Submission: Electronically through companies.gov.cy portal. Penalties: Administrative fines, suspension of good standing certificates, difficulty opening bank accounts. --- ### Article: The Cyprus Margin Scheme for Second-Hand Goods URL: https://www.cybooks.com.cy/accounting-insights/margin-scheme Published: Nov 15, 2024 Author: Christopher Dosin The Margin Scheme is a special VAT arrangement for dealers in second-hand goods, works of art, collectors' items, and antiques. VAT is applied only to the profit margin rather than the full selling price, preventing double taxation. Available to taxable dealers purchasing from non-taxable persons, other margin scheme dealers, or businesses that could not deduct input VAT. Eligible: Second-hand cars, used furniture, original artwork, antiques (100+ years old), collectors' items. Not Eligible: New goods, goods purchased with full VAT recovery, precious metals, standard commercial goods. Calculation: Margin = Selling Price minus Purchase Price. VAT = Margin × (VAT Rate / (100 + VAT Rate)). Example: Buy at €5,000, sell at €7,000 → Margin €2,000 → VAT at 19% = €319.33. Record-Keeping: Maintain stock book with description, purchase/sale dates and prices, seller details, margin and VAT calculated. Invoices must include "Margin Scheme — Second-hand goods" and must NOT show VAT separately. Individual vs. Global Accounting: Individual calculates per item (losses = zero VAT, no offset). Global calculates total margin per VAT period (losses can offset profits, available for items under €500). --- ### Article: How to Search for Company Data in Cyprus URL: https://www.cybooks.com.cy/accounting-insights/company-data-search Published: Jun 25, 2024 Author: Christopher Dosin The Cyprus D.R.C. (Department of Registrar of Companies) is the primary official government body to check for data about registered businesses in Cyprus. Each company data file costs €10.00 — an official government service, no need for expensive third-party services. Requirements: Government e-Services account (register at cge.cyprus.gov.cy). Step-by-Step: 1. Visit the D.R.C. Portal at efiling.drcor.mcit.gov.cy 2. Search for a company by name 3. Select the company from results 4. Click Study File 5. Login with Government e-Services account 6. Search for the company again 7. Choose the company and click More Details 8. Tick Study File checkbox and Submit 9. Go to the Esearch Basket for payment (€10.00) 10. Access files via Workspace — click HE32 Archive for audit (Form Number XACC) Important: Data access is available for 24 hours only after purchase. --- ## Accounting Insight: Why Excel Is Dangerous for Growing Cyprus Businesses URL: https://www.cybooks.com.cy/accounting-insights/why-excel-is-dangerous-for-growing-cyprus-businesses Published: March 15, 2026 Author: Christopher Dosin Category: Financial Intelligence Summary: Examines why spreadsheet-based financial management becomes a liability as Cyprus SMEs grow. Covers the risks of manual data entry errors, version fragmentation across founders, accountants and assistants, formula errors creating false confidence, the absence of real-time financial visibility, and inefficient collaboration with external accountants. Explains how growth increases transaction complexity (recurring subscriptions, international transfers, partial settlements) and why structured accounting platforms with automatic bank feeds, intelligent matching and continuous reporting provide a more resilient approach. Positions the transition from Excel to integrated accounting software as an organisational shift rather than a mere technology upgrade. --- ## Accounting Insight: Common VAT Mistakes Cyprus SMEs Make URL: https://www.cybooks.com.cy/accounting-insights/common-vat-mistakes-cyprus-smes Published: March 2, 2026 Author: Christopher Dosin Category: Cyprus Tax & Compliance Summary: Covers the ten most frequent VAT errors Cyprus SMEs make, including late registration (threshold €15,600), wrong VAT rates (19%, 9%, 5%, 3%, 0%), missed filing deadlines (10th of second month after quarter end), missing VIES returns, claiming non-deductible expenses, incorrect reverse charge treatment, poor record keeping, mixing personal and business expenses, ignoring partial exemption rules, and not reconciling VAT returns with accounting records. The guide assumes businesses operate as a Limited Company (LTD); for sole traders, mixed-use rules can be more complex. Key penalties: €51 per late return, 10% surcharge on late payments, up to €341 per negligent offence, criminal prosecution for deliberate fraud. Includes a quarterly VAT compliance checklist and explains how cybooks automates rate selection, reverse charge handling, VIES generation, deadline reminders, and reconciliation. Links to the official Cyprus Tax Department VAT handbook (PDF) as an additional resource. --- ## Privacy Policy URL: https://www.cybooks.com.cy/privacy-policy Last modified: February 19, 2026 ### 1. An overview of data protection General information: The following information provides an overview of what happens with your personal data when you visit this website. The term "personal data" comprises all data that can be used to personally identify you. Data recording on this website: The data on this website is processed by the operator of the website. 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