Accounting and invoicing for management consultants
Strategy projects, process consulting, restructuring and support over months: management consultants bill by the day, by project phase or with success shares and have high invoice amounts with long payment terms. Saldiqo issues stage invoices by phase, records travel costs and reminds on open invoices.
What comes up for management consultants
High amounts, long terms
Consulting invoices are large and paid after 30 to 60 days. Payment receipt and reminders decide liquidity.
Phases and success shares
Analysis, concept, implementation: each phase has stage invoices. Some fees depend on the result.
Travel and expenses
Travel costs and accommodation belong to the invoice and are reimbursed against receipts.
How Saldiqo helps
- Stage invoices by phaseQuote, stage invoices, final invoice.
- Day rates with time trackingRecord days and take them over as a line.
- Re-invoice travel costsReceipts as expenses, line with the receipt.
- Reminders on long termsKeep open invoices in view.
Typical invoice lines
Examples that often appear on invoices in this industry. You set the prices yourself.
- Strategy consulting, 8 person days
- Project phase 2: concept, stage invoice
- Success fee as agreed
- Travel costs as per receipt
- Workshop for the management team, full day
- Final report and presentation
Tax and invoicing in Cyprus
What applies to invoices in Cyprus, in short. As of October 2026.
- VAT
- Rates 19 %, 9 %, 5 % and 3 %, plus 0 % until 31 December 2026 for infant milk, nappies, hygiene products and fresh fruit and vegetables.
- VAT registration
- The threshold is €15,600 of taxable turnover over 12 months, or expected within the next 30 days. If you sell services to businesses in other EU countries, you generally register from the first sale. Until you are registered, Saldiqo leaves VAT off and adds up your turnover.
- What goes on an invoice
- Even businesses that are not VAT registered must issue invoices and receipts. Companies show their name, HE number, the words “private company” where they apply, and their registered office. Notes such as reverse charge appear in Greek and English.
- Invoice timing
- Issue invoices within 30 days.
- E-invoicing
- There is no mandate. Public bodies accept e-invoices (Peppol BIS 3.0) and suppliers send them voluntarily. EU rules follow from 1 July 2030.
- VAT returns
- VAT4 returns are filed online through TFA, quarterly with staggered periods, by the 10th of the second month after the period, moved to the next working day if it falls on a weekend. Saldiqo does not file returns.
- Record keeping
- Plan for 10 years. The minimum is 6 years, VAT records can need up to 7 years, and OSS records 10 years.
- Late payment
- Interest on late business payments is 10.40 %, plus €40 compensation between businesses.
- Languages
- Use Saldiqo in Greek or English and send invoices in either language.
Frequently asked questions
How do I bill projects in phases?
With a quote, stage invoices per phase and a final invoice that deducts them.
How do I treat a success fee?
As a separate line with the amount as agreed and evidence in the description.
Do management consultants in Cyprus have to charge VAT?
Once they are registered, yes. The threshold is €15,600 over 12 months, or expected within 30 days. Services to businesses in other EU countries require registration from the first sale.
Do management consultants in Cyprus need e-invoicing?
No. Public bodies accept e-invoices through Peppol and suppliers use it voluntarily. EU rules follow from July 2030, so PDF invoices remain fine today.
How long should management consultants keep invoices?
Plan for 10 years: the minimum is 6 years, VAT records can need up to 7 and OSS records 10. You can store receipts digitally in Saldiqo. The legal duty to keep records stays with you.
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As of October 2026. General information, not legal or tax advice, without guarantee. For your case ask your tax adviser.