Bookkeeping & Management Reporting in Malta

Accurate and timely bookkeeping is the first step in ensuring that companies comply with the Maltese statutory obligations. As a result, the company will be maintained in good standing with the authorities and the company’s officers will not incur penalties for late filing of relevant returns and documents.

Bookkeeping & Management Reporting in Malta – Key Facts

• Bookkeeping obligations: Malta companies must maintain proper accounting records under the Maltese Companies Act, 1995
• Compliance requirement: Accounting records must reflect a true and fair view of the company’s financial position and performance
• Reporting frequency: Financial and management reporting can be prepared monthly, quarterly or annually
• Core reports: Balance sheet, profit & loss account, trial balance, cashflow reports, aged receivables & payables analysis
• Accounting support: Preparation and submission of statutory returns and accounting records for Malta-registered companies
• Invoicing compliance: Assistance with VAT-compliant tax invoices and Maltese invoicing requirements
• Consolidation services: Support with consolidated financial statements and group reporting packages
• Management reporting: Cashflow forecasting, budgeting, KPI analysis & financial performance monitoring
• Cloud accounting solutions: Secure remote access to real-time accounting and payroll systems
• Additional services: VAT return preparation, payroll support, audit coordination & accounting reviews
• Required bookkeeping records: Invoices, receipts, bank statements, payroll data, contracts & corporate records
• Client types: Maltese companies, international groups, SMEs, startups & foreign-owned businesses
• Service provider: CSB Group – Malta bookkeeping and management reporting specialists

Bookkeeping Regulations and Obligations in Malta

Companies incorporated in Malta are required under the Maltese Companies Act (Cap. 386) to keep proper accounting records that give a true and fair view of the company’s affairs, financial performance and cash flows. These records must be sufficient to explain the company’s transactions and support the preparation of compliant financial statements. The first set of financial statements may cover a period of up to 18 months from incorporation, and statutory filing deadlines must be observed to remain compliant with local requirements.

Accounting records should be kept at the registered office or at another location decided by the directors of the company. If the records are kept outside Malta, sufficient accounts and returns must still be maintained in Malta so that the company’s financial position can be determined with reasonable accuracy and statutory financial statements can be prepared when required.

Timely Financial & Management Reporting

Timely financial and management reporting is essential for sound business decision-making and informed investment oversight. CSB Group and its Certified Public Accountants in Malta support clients with the maintenance of accounting records and the preparation of detailed financial and management reports. Reporting frequency can be tailored to the company’s needs, whether annual, quarterly, monthly or more frequent.

Management reporting may include, among other things:

• Balance Sheet/Statement of Financial Position at any particular date showing the financial position of the company in terms of its assets, liabilities and equity.
• Profit and Loss Account/Income Statement showing the revenues generated and expenses incurred over a particular year/period
• Trial Balance at any particular date
• History of transactions for all accounts showing the history & movement of the respective accounts throughout the year/s
• Aged payable and aged receivable analysis and transaction history of these receivables and payables
• Inventory Listings to assist clients in their stock taking procedures.

These reports, including comparative information for prior periods, help clients assess performance over time. CSB can also assist with the calculation and interpretation of key financial ratios, such as working capital and gross profit margin, to provide clearer insight and added value.

Our Certified Public Accountants in Malta assist companies with the preparation and submission of the returns and forms required of Malta-registered companies.

The issuance of the above reports including also issuing the reports of previous periods enable the client to compare between one year/period and another and CSB can also assist clients in working out important ratios including working capital ratio, gross profit margin ratio and other ratios to assist and provide more value added to clients. 

Our Certified Public Accountants in Malta assist companies with the compilation and submission of all returns and forms that a Malta registered company is required to submit.

Invoicing

We also assist clients with the preparation of sales invoices issued to their customers. Where clients do not have their own templates or are unsure of the Maltese requirements for a valid invoice, CSB Group can provide guidance and, where needed, issue invoices through its accounting systems to help ensure the required information is included.

Tax Invoices

A tax invoice issued by a VAT-registered person should generally include the following information, as applicable to the transaction:

• Issue date of the invoice
• Sequential invoice number
• Name, address and VAT number of the supplier issuing the invoice
• Name, address and VAT number of the customer
• Quantity and nature of the goods / services being supplied
• Date on which the supply of goods / services was made
• Taxable value, unit price (excluding tax), discounts or rebates
• VAT %/rate applicable
• VAT payable on invoice

• Where applicable, the name, address and VAT number of the person liable for paying the VAT

• If the invoice is issued under the cash basis and VAT is chargeable when payment is made, the invoice has to mention "Cash accounting"
• If customer is issuing the invoice himself, the invoice has to mention "Self-billing"

• If no VAT is chargeable, a reference to the relevant provision of the VAT Act or other legal basis for the exemption or non-taxable treatment

• Where the reverse charge mechanism applies and the customer is liable to assess the VAT impact, the invoice has to mention "Reverse charge"
• If the invoice is being issued under the margin scheme for travel agents, the invoice has to mention "Margin scheme - Travel agents"
• If the invoice is being issued under the margin scheme for second-hand goods (including works of art, collectors' items and antiques) the invoice has to mention "Margin scheme - Second-hand goods", "Margin scheme - Works of art" or "Margin scheme - Collector's items and antiques" as applicable
• If the invoice is for the intra-Community supply of a new means of transport, the description of the goods in the invoice has to include specifics as per the definition of "new means of transport" in the VAT Act.

Consolidations

Groups with a Maltese parent company may be required to prepare consolidated financial statements unless an exemption applies under the Maltese Companies Act, including certain size-based and group-structure exemptions. Consolidation may also be required for group reporting purposes. Our team can guide you through the applicable requirements and help ensure compliance with the relevant accounting standards and disclosure obligations.

Group Reporting

Maltese subsidiaries that form part of larger groups may also need to complete group reporting packages for submission to head office and inclusion in the wider group consolidation. Our accountants are familiar with group reporting templates and deadlines and can assist with the preparation and submission of these reports.

Further Reporting

As part of our bookkeeping services, CSB Group can also develop practical tools to help clients monitor actual performance against budgets and prior periods. We assist with data analysis and trend identification to support forecasting, including cash management, cash flow budgeting and cash flow forecasting.

Bookkeeping cloud-based solutions

CSB Group’s accounting services also include cloud-based solutions that offer clients greater flexibility and mobility. Clients using these systems can access their accounting records remotely and securely, view transactions in real time and make faster, better-informed decisions.

This solution can be particularly useful for clients with an in-house accounting team that handles invoice entry, bank postings and journals. In such cases, CSB Group can review the accounting records for compliance with Maltese requirements, prepare VAT returns and coordinate the annual statutory audit process.

Clients who prefer more comprehensive support can also use the same cloud-based solution while our qualified accountants handle the bookkeeping. This gives clients ongoing visibility over day-to-day transactions and easy access to financial information whenever needed.

An online cloud based solution is also available to our clients making use of our highly requested Payroll Services.

Documents Required for Bookkeeping Services in Malta

CSB Group offers bookkeeping services designed to keep your company’s books and records in order and support ongoing compliance with the relevant authorities.

To provide these services, the following documents are generally required from the date of incorporation up to the end of the accounting period for which the financial statements are being prepared:

• Incoming invoices/receipts for the fixed assets & expenses purchased and/or incurred
• Outgoing invoices for the revenue/sales generated
• Bank statements for the bank transactions taking place
• Statements in relation to any payment providers used by the company/business
• Agreements/Contracts entered into by the company/business
• Minutes/resolutions of directors/shareholders
• Payroll documentation for the employees of the company (unless payroll is being handled by CSB Group)
• VAT Returns (unless the VAT Returns are being handled by CSB Group)
• Updated group structure

Financial Statements/Management accounts of subsidiaries or entities whose shares are held/partially held by the company