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Accounting and Bookkeeping

According to Libyan law, the books are required to be written up daily. However, in reality, the majority of the companies tend to write up their books on a monthly basis from daily transactions’ summaries.

Accounting & Bookkeeping

“At Ahmed Ghattour & Co, we provide customised accounting and bookkeeping services designed to meet the specific requirements of businesses in Libya. Our knowledgeable team acknowledges the difficulties and intricacies you may encounter and is committed to aiding you in streamlining your business processes and efficiently controlling expenses.

Here are the ways we can support you:

Accountancy:
We offer expert guidance to help you minimise your tax liability and provide risk management advice. Our team conducts compliance reviews of your current policies, identifies and assesses risks, and assists you in implementing and testing internal controls to improve efficiency and reliability.

Accounting Records:
In Libya, all businesses must maintain detailed ledgers and journal entries in Arabic. To ensure compliance with this requirement, our team of professionals meticulously registers revenue stamps on each page before they are used. We provide expert assistance in managing precise and current accounting records, allowing you to track all financial transactions effectively. This service ensures your business complies with Libyan regulations while benefiting from accurate financial record-keeping.

Bookkeeping:
“Effective and accurate bookkeeping is essential for the success and growth of any business. At Ahmed Ghattour & Co., we understand the importance of maintaining your financial records’ security, accuracy, and timeliness. Our team is dedicated to leveraging our expertise in bookkeeping to streamline your day-to-day accounting processes. By doing so, we aim to reduce costs and free up your time so that you can focus on your business’s strategic growth and development.”

Accounting Principles:
We are dedicated to upholding Libyan corporate law and ensuring that your company maintains meticulous financial records following the provisions of the Libyan commercial code. Our team meticulously prepares financial statements that adhere to international standards, encompassing the directors’ report, profit and loss account, statement of financial position, and cash flow statement.

At Ahmed Ghattour & Co, it is our commitment to provide guidance on adherence to Libyan regulations and assist you in comprehending the potential implications of non-compliance. Our diligent team is entrusted with ensuring the accurate and timely execution of your accounting activities, thereby mitigating the risks associated with non-compliance.

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