Bahamas Accounting & Bookkeeping Solutions
Reliable accounting and bookkeeping tailored for Bahamas-incorporated businesses. Maintain clear financial records and meet your reporting obligations with ease.
- Regular financial record-keeping and account balancing
- Comprehensive financial reporting
- Tax return preparation and compliance support
- Personal account manager assigned to your company
Bookkeeping Obligations for Bahamas Companies
What the law requires when it comes to maintaining financial records for your Bahamas-incorporated entity.
Needed for Economic Substance compliance
Not required for Bahamas IBCs
No corporate income tax in The Bahamas
Mandatory retention window
Record-Keeping Obligations
Bahamas-incorporated companies are obligated to keep financial records that provide a clear and accurate picture of the company's transactions, enable its financial standing to be determined at any time, and facilitate the production of financial statements.
What Records Must Be Kept
- Details of all receipts and payments
- Statements of assets and liabilities
- Invoices, contracts, and supporting documents
- Annual financial statements
- Board meeting minutes
- Written shareholder resolutions
Where Records Can Be Kept
Penalties for Non-Compliance
- Financial penalties for the company and its officers
- Personal exposure for directors
- Possible removal from the Companies Register
- Disruption to banking arrangements
- Obstacles in due diligence and compliance checks
Professional Accounting and Bookkeeping for Bahamas Entities
Our accounting services cover everything from transaction recording to annual reporting, giving you more time to run your business.
Bookkeeping
Stay on top of your Bahamas company's finances with professional bookkeeping that captures every transaction accurately. Our team uses leading accounting platforms to keep your records clean and organised.
Transaction Recording
Accurate capture and classification of all financial transactions within your accounting system
Bank Reconciliation
Periodic bank account reviews to confirm balances and catch any inconsistencies
Accounts Payable/Receivable
Oversight of vendor payments, customer invoicing, and receivables tracking
Monthly Close
Structured month-end closing with reconciled accounts and verified balances
Financial Statements
Clear, professionally compiled financial statements that align with international reporting standards. We ensure your Bahamas entity's financials are accurate and presentation-ready.
Balance Sheet
Clear summary of financial position including assets, liabilities, and equity
Income Statement
Comprehensive overview of earnings, costs, and net income or loss
Cash Flow Statement
Overview of how cash moves through your business across key activity categories
Annual Accounts
Complete annual financial reports prepared according to recognised accounting frameworks
Management Reporting
Regular financial reports that translate numbers into actionable insights for your Bahamas company. Make strategic decisions backed by clear, reliable data.
Monthly Management Accounts
Regular reports capturing essential metrics and financial performance data
Budget vs Actuals
Analysis of how actual results measure up against your budget projections
Custom Reports
Personalised financial reports aligned with your business priorities and KPIs
Compliance Support
Meet your Bahamas company's financial compliance obligations with confidence. We provide the documentation and support needed to satisfy regulatory requirements.
Economic Substance Reporting Support
Preparation of financial records and supporting materials for substance compliance filings
Registered Agent Liaison
Liaising with your registered agent on compliance matters, filings, and information requests
Audit Preparation
Organising financial documentation and preparing work papers for audit readiness
Payroll Services
Streamlined payroll services for your Bahamas entity. From salary calculations to contractor payments, we ensure everyone is paid accurately and punctually.
Salary Processing
Full-cycle payroll management from calculation through to payment and record-keeping
Contractor Payments
Management and tracking of invoices and payments for independent contractors
Looking to simplify your Bahamas company's accounting?
Let us handle the bookkeeping and reporting so you can focus on growing your business.
The Value of Professional Accounting for Bahamas Companies
Reliable accounting underpins regulatory compliance, strategic planning, and sustained business growth.
Regulatory Compliance
Fulfil your Bahamas company's record-keeping obligations under local corporate legislation. Accurate books help you stay in good standing and steer clear of penalties.
Economic Substance Support
Thorough financial documentation is a cornerstone of economic substance compliance. Professional accounting keeps your records in order for substance reporting.
Banking Requirements
Banks routinely ask for audited or reviewed financial statements as part of ongoing due diligence. Well-maintained accounts ensure your banking relationships remain on solid ground.
Investor Confidence
Clear, professionally prepared financial reports inspire confidence among shareholders and business partners. Transparent reporting demonstrates responsible financial oversight.
Informed Decision Making
Timely management reports transform your financial data into actionable intelligence, enabling you to identify trends and act on opportunities.
Audit Readiness
Maintaining clean, well-organised books throughout the year ensures you're always prepared for external audits without any last-minute scramble.
Our Approach to Bahamas Company Accounting
From the first conversation to year-end reporting, here's how we keep your books in order.
Needs Assessment
We learn about your business operations, transaction volumes, and reporting expectations to recommend the best accounting setup.
Onboarding & Configuration
We configure your accounting software, build out the chart of accounts, and set up secure processes for document exchange.
Recurring Bookkeeping
On a monthly basis, we capture transactions, reconcile your bank accounts, and keep your financial records current.
Reporting & Review
Management reports are delivered each month, and we review the figures with you to ensure accuracy and clarity.
Year-End Preparation
We compile your annual financial statements and provide support for any compliance filings or audit-related requirements.
Frequently Asked Questions
Key questions and answers about bookkeeping and accounting for Bahamas companies
Yes. Companies incorporated in The Bahamas must maintain financial records that clearly reflect their transactions. Records should be preserved for at least 5 years to satisfy compliance obligations.
Bahamas IBCs are not obligated to file annual accounts with the authorities. That said, proper record-keeping is essential for meeting Economic Substance requirements and other regulatory obligations.
We offer flexible reporting — monthly, quarterly, or yearly — based on your company's needs. Custom schedules for management accounts are also available upon request.
Poor record-keeping can result in financial penalties for the company and its officers, personal exposure for directors, possible removal from the Register, and strained banking relationships.
Yes, we work with popular tools like QuickBooks, Xero, and others. If your company already uses a platform, we can adapt to it. Otherwise, we can recommend a suitable option.
Bookkeeping is the systematic recording of daily financial transactions — payments, receipts, and invoices. Accounting builds on that by analysing the recorded data, producing financial reports, and offering strategic guidance.
Talk to Our Accounting Specialists
Looking for professional bookkeeping or financial reporting support for your Bahamas entity? Get in touch with our team.
