Popular Topics: VAT Expenses Invoices Payroll Reports
The Reports section in Balabook provides essential insights into your business’s financial performance and supports compliance with accounting and tax obligations.
With Balabooks, you can easily generate multi-period financial reports such as General Ledger , Balance Sheets, Profit & Loss Statements,Trial Balance and VAT Returns Reports directly from your accounting data.
The VAT Returns report helps you track the VAT collected on sales and the VAT paid on purchases, providing a clear picture of what your business owes to (or can reclaim from) the Cyprus Tax Department.
The IR7 report is an employer’s declaration in Cyprus that details employee payroll, withheld taxes (PAYE), and social insurance contributions. From 2025, it must be submitted monthly through the Tax Department’s electronic system to ensure compliance and avoid penalties.
The owner of a Balabook account is the person whose email was used to sign up or the current primary email address associated with the account. As an account owner, you can invite trusted individuals to collaborate on your account with varying levels of access.Only Owners can invite Users.
