Keeping accounting records for legal entities is mandatory the last years for many jurisdictions like BVI, Belize, Seychelles, Anguilla, Bahamas, Panama and others.
Accounting records to be reliable must include sufficient details and information to explain company’s transactions and determine the financial position of the company with reasonable accuracy. It is also important for the legal entity to comply with the requirements otherwise fines must be paid and/or avoid troubles from the tax authorities and banks.
Reasons to keep reliable accounting records:
- Comply with international and local legislation
- Avoid penalties
- Gain legitimacy and substance
- Facilitate obtaining bank services.
- Count with clear and organized information on the assets and activities of your entity
Globalserve Accounting and Bookkeeping Department remains at your disposal for advices and support on the above issue, we undertake the preparation of management accounts and assist you to comply with the rules and avoid penalties payments and troubles with the tax and other authorities.