Payroll and Accounting Services

Under the Maltese Companies Act 1995, all companies that are incorporated in Malta are required by legislation to also maintain accurate and up-to-date accounts. These records must reflect the true and correct position of the company’s finances, and they should give a clear understanding of the company’s activities at all times.

With that in mind, it is clear that accurate book-keeping and management reporting are an essential component of any Maltese business, to ensure that it is operating in compliance with the statutory requirements required by law. Our services ensure that this legal obligation is fulfilled, maintaining our client’s position as a company in good legal standing and avoiding late payment charges and other expenses associated with a failure to adequately comply.

Why You Need an Accounting Services Company in Malta

Maltese legislation follows the widely adopted International Financial Reporting Standards (IFRS), and all businesses in Malta are expected to comply with those reporting requirements. However, small-medium enterprises (SMEs) in Malta are also able to prepare their financial statements under the General Accounting Principles for Small and Medium-Sized Entities (GAPSME) if they so choose.

While our clients focus on ensuring that their business grows, we take care of the accounting operations, helping them achieve operational excellence. Our highly experienced and qualified professionals ensure that our clients’ accounts are prepared in a timely manner, are accurate and in compliance with local and international requirements.

At Acta Fidelia, we offer our clients a range of high-quality, cost effective consulting, and accounting services, including appropriate support solutions. These include advisory services, management accounting, book-keeping and payroll solutions. We take a tailored approach, first assessing their requirements and then developing a bespoke solution to meet our client’s needs. This flexible approach allows us to fulfil our goals, delivering improvements in all areas we operate, bringing added efficiency and delivering increased effectiveness.

Management Accounting Services

Management accounting reports are generated by our experts to provide inclusive information for effective management decision-making processes. Financial reports are developed to facilitate informed choices for the company’s financial health.

Our experts work closely with clients to identify their needs to produce the required management reports on a monthly, quarterly, biannual and annual basis. The selection of reports, their format and details as well as the deadlines, are set by the client. While our team can prepare any tailor-made report our clients may need, some of the Management reports we can provide include:

  • Profit and loss statements.
  • Cash flow forecasts.
  • Account receivable and payable aging reports.
  • Actual vs budgeted analysis.
  • Key performance.
  • Cost centre and profit centre reporting.
  • Profitability of projects.

Accounting Advisory

With today’s rapidly evolving market businesses of all sizes are facing new challenges, the need to consult professional advisors has become essential for companies that wish to stay ahead of the competition. No matter the size, complexity or accounting standards that our clients follow, our highly qualified professionals provide effective solutions that deliver outstanding outcomes.

Whether the client decides to outsource its accounting function completely, or needs guidance on complex technical accounting matters, our technical accounting specialists assist our clients effectively, delivering high-quality accounting results that bring clarity to the business position and comply with the spirit and intention of all legislation.

Our team of highly experienced professionals bring a blend of local and international experience to meet the needs of our clients, and are continuously trained in all areas of accounting, VAT and tax.  Some of the services that we provide are:

  • Day-to-day book keeping
  • Preparation of VAT returns
  • Liaising with external auditors and local authorities
  • Outsourcing of Accounts Payables and Receivables departments
  • Advisory on complex accounting matters and accounting treatment
  • Structuring and re-structuring of accounting departments
  • Selection, implementation and customization of accounting software and ERP
  • Secondment of accounting department personnel.

Among the other industries our seasoned professionals are experts on the following industries:

  • iGaming
  • Aviation
  • Maritime and shipping
  • Cryptocurrencies and Blockchain
  • Insurance
  • Financial Services

Payroll Services

Companies which engage employees in Malta are required to keep full records for each employee, file respective FS forms on a monthly and annual basis in IRD as well as engagement and termination forms on E.T.C. It is very important that statutory requirements are strictly adhered to.

Acta Fidelia offers our clients outsourced preparation and processing of payroll. Our qualified staff will ensure that each client is compliant with the local statutory requirements, guaranteeing that the client’s payroll is generated accurately, cost-efficiently and in a timely manner.

Acta Fidelia provide tax and strategic advice regarding the best structure for employees, including guidance for the relocation of staff to Malta, and actively assists in the hiring of local staff in Malta itself. Furthermore, our legal partner specializes in employment law, providing advice on all matters related to hiring, redundancy or dismissal of employees.

Book-keeping services

Acta Fidelia bookkeeping services remove the administrative hurdle and cost. Our bookkeepers guarantee accurate completion of your company’s accounting records in a cost-efficient manner and according to the local and international accounting standards (IFRS and USGAAP).

By employing efficient solutions in performing the bookkeeping of your company, we can assist you in reducing the human resources cost or the administrative cost if you already outsource your bookkeeping operations.

Acta Fidelia’s bookkeeping services offer a cloud-based ERP system that gives our clients the flexibility to access their accounts from anywhere in the world that there is internet connection.  Clients that are using our web-based platform can access the accounting system securely to view any report, balances and transactions from any device, anywhere and in real time.

Clients who already have an in-house accounting team that handle the bookkeeping operations of their company have the possibility to make use our cloud-based ERP system and our accounting experts can review the accounting transactions in order to ensure that they comply with the Maltese regulations, prepare the VAT Returns and also coordinate the annual Statutory Audit.