Nicosia, [3rd of October 2024] — Balabook, a revolutionary cloud-based accounting software, has officially launched in Cyprus, bringing with it a new era of efficiency

and accuracy for small and medium-sized businesses (SMBs). Balabook is designed to streamline essential financial tasks - such as payroll, VAT submissions, invoicing,

bank reconciliation and expenses management- offering an all-in-one solution that helps businesses run smoother.

With a user-friendly platform accessible from any device, anytime, Balabook enables business owners to have control of their finances and accountants to automate time-consuming processes. By reducing the margin for error and cutting down on manual tasks, the software allows users to focus on what matters most: growing their business.

Balabook is fully compliant with Cyprus’ financial regulations and requirements, ensuring that local businesses can operate without worries of non-compliance. Among its many features is an advanced VAT Returns tool that automates calculations and simplifies submissions, allowing users to select their reporting period - monthly, quarterly, or annually - while automatically calculating the VAT due. Users can also account for any late or previously unrecorded transactions, ensuring total accuracy and adherence to local rules.

Martin Zarian, Brand Strategist and Co-founder at Balabook, shared his enthusiasm about the launch: “We're thrilled to introduce a solution that’s tailor-made for Cyprus. Balabook is not just another generic software—it’s designed specifically to meet the unique needs of Cypriot businesses and accountants. We understand the frustration many face with the current accounting systems here, including our own experiences, and we knew there had to be a better way. With Balabook, we’ve developed a user-friendly, collaborative system that truly simplifies accounting for everyone.”

● Automated Transaction Tracking: Keep financial records in order with automated tracking of all transactions.

● Detailed Reporting: Easily generate reports on profits, general ledger with VAT, expenses, and other key business metrics.

● Expense and Income Management: Stay on top of your finances with tools to categorize and analyse income and expenses.

● VAT Reporting: Simplify VAT submissions and ensure full compliance with local tax regulations, with automatic calculations and the ability to add late entries.

● Multicurrency: From Cyprus to the world. Handle over 30+ currencies with real-time rates.

● Real-Time Collaboration: Collaborate seamlessly with team members and accountants from any location.

In line with its ongoing commitment to improving the platform, Balabook continuously enhances its features. Some of the key features that are coming soon are:

● Mobile App

● AI Automation

● Bank Connection

Balabook is offering an exclusive promotion: businesses that sign up for an annual subscription will enjoy the first three months free. Sign up today for the special 3-month launch promotion here: https://balabook.com/

For more information, visit www.balabook.com or follow us on social media:

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